RFID Blood Monitoring Systems Market to hit US$ 1.94 Billion by 2030 | Exclusive Report by Growth Plus Reports

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Sep 19, 2022, 09:10 ET

NEW YORK, Sept. 19, 2022 /PRNewswire/ -- According to the latest report published by growth plus reports, the global RFID Blood Monitoring Systems Market is expected to clock US$ 1.94 billion by 2030 and to grow at a CAGR of 6.9% during the forecast period. Owing to technological advancements in RFID systems, the growing adoption of RFID blood monitoring systems, novel inventory management solutions, and increased consumer demand are the key driving factors. This exclusive information is published by Growth Plus Reports in its report titled "RFID Blood Monitoring Systems Market – Global Outlook & Forecast 2022-2030"

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Excerpts from 'Competitive Landscape'

Some of the prominent market players in the global RFID blood monitoring systems include,

Applied Wireless Identifications Group, Inc
Invengo Information Technology Ltd. Co
Alien Technology Corporation
Stanley Innerspace
CAEN RFID S.r.l
Mobile Aspects Inc
Impinj, Inc
GAO RFID Inc
Tagsys RFID Group
Intermec, Inc
Sato Holdings Corporation
STiD and Motorola Solutions, Inc
SATO VICINITY PTY LTD
Logi-Tag Systems
Nordic ID
WaveMark, Inc
RFID Global Solution, Inc

The key objective of market players in the global RFID blood monitoring systems market is to increase their global footprint through a variety of tactics, including alliances, partnerships, and collaborations. The players are also spending a lot of money on research and development to improve their products and boost their competitiveness on the global market. For instance, in September 2021, to improve the management of its blood products, the Scottish National Blood Transfusion Service (SNBTS), a specialised provider of transfusion medicine in Scotland, installed the biolog-id blood inventory devices. By means of this implementation, cutting-edge biolog-id technology will simplify the difficult operations of red blood cell inventory and distribution to far sites, improving the visibility and management of those life-saving goods between the Scottish blood centre and each regional blood bank.

Market Drivers

The factor anticipated to drive growth of the global market over the forecast period is technological advancements in RFID systems, particularly in RFID tags, which are based on nano and micro technologies and can hold enormous amounts of data. Additionally, a significant emerging trend in the global market is the growing adoption of RFID blood monitoring systems by blood banks and hospitals worldwide, in both developed and some developing nations. This development is expected to support market growth globally throughout the forecast period. Moreover, high market growth is mostly due to ongoing R&D projects aimed at creating novel inventory management solutions and increased consumer demand for clerical mistake reduction. Over the projection period, it is predicted that RFID adoption in the healthcare sector would increase, especially with regard to the use of RFID blood refrigerators and freezers in hospitals and blood banks.

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Excerpts from 'By End User Segmentation'

Based on end user, the global RFID blood monitoring systems has been segmented into:

Asset Tracking
Patient Tracking
Pharmaceutical Tracking
Blood Tracking
Others

The blood tracking segment dominated the market during forecast period. However, due to the rising popularity of the technology to identify genuine drugs, pharmaceutical tracking applications make a significant amount of revenue. Systems for tracking medications are evaluated for their value to supply chain participants, institutions, and patients. The propagation and distribution of counterfeit pharmaceuticals, which pose an increased danger for health risks, have increased recently.

Excerpts from 'By Region Segmentation'

Based on region, the global RFID blood monitoring systems has been segmented into:

North America
Europe
Asia Pacific
Rest of the World

The government's robust financing commitments and dedication to the expansion of the healthcare industry boost the regional market. North America dominated the global healthcare RFID industry due to its abundance of hospitals and the existence of laws ensuring patient safety. Europe is perhaps the second-most lucrative market for RFID medical solutions. Additionally, the region's expanding R&D offers profitable opportunities for market expansion in the near future. Asia Pacific is predicted to have the fastest-growing healthcare RFID market throughout the forecast period due to improvements in healthcare infrastructure, rising investments in the industry, and innovations by regional market players. Due to the increased government emphasis on implementing breakthrough technologies and the best treatment options from a developed country, countries like China and India are also advancing the fastest.

Table of Content

INTRODUCTION

Market Ecosystem
Timeline Under Consideration

Historical Years - 2020
Base Years - 2021
Forecasted Years – 2022 to 2030

Currency Used in the Report

RESEARCH METHODOLOGY

Research Approach
Data Collection Methodology
Data Sources

Secondary Sources
Primary Sources

Market Estimation Approach

Bottom Up
Top Down

Market Forecasting Model
Limitations and Assumptions

PREMIUM INSIGHTS

Current Market Trend (COVID-19 Perspective)
Key Players & Competitive Positioning (2021)

MARKET DYNAMICS

Drivers
Restraints/Challenges
Opportunities

GLOBAL RFID BLOOD MONITORING SYSTEM MARKET - ANALYSIS & FORECAST, BY PRODUCT

Systems & Software
Tags

GLOBAL RFID BLOOD MONITORING SYSTEM MARKET - ANALYSIS & FORECAST, BY END USER

Asset Tracking
Patient Tracking
Pharmaceutical Tracking
Blood Tracking
Others

VALUE PROPOSITIONS RELATED TO THE REPORT:

Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
Comprehensive quantitative and qualitative insights at segment and sub-segment level
Covid 19 impact trends and perspective
Granular insights at global/regional/country level
Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
Blanket coverage on competitive landscape
Winning imperatives
Exhaustive coverage on 'Strategic Developments' registered by leading players of the market

CUSTOMIZATION OPTIONS:

Distributor Landscape Assessment
Pricing Intelligence
Customer Base Assessment
Investment & Initiatives Analysis
'Business Profile' of Key Players

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