RFID Technology Revolutionizes Global Healthcare Market, Offering Opportunities in Asset, Patient, and Pharmaceutical Tracking

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Nov 23, 2023, 19:30 ET

DUBLIN, Nov. 23, 2023 /PRNewswire/ -- The "RFID in Healthcare Market: Trends, Opportunities and Competitive Analysis (2023-2028)" report has been added to ResearchAndMarkets.com's offering.

This comprehensive report delves into the RFID (Radio-Frequency Identification) landscape within the global healthcare market, providing valuable insights into market trends, growth opportunities, and competitive dynamics.

The utilization of RFID technology in the global healthcare sector is poised for remarkable growth, with an estimated market value reaching $12.1 billion by 2028. This growth is anticipated to be driven by a robust Compound Annual Growth Rate (CAGR) of 16.4% from 2023 to 2028.

Promising Prospects in Healthcare

The future of RFID in the global healthcare market is filled with promise, particularly in applications such as asset tracking, patient tracking, pharmaceutical tracking, and blood tracking. Key drivers for this market include the increasing adoption of RFID technology for enhanced patient security, efficient inventory management, automation in healthcare processes, and the expanding use of RFID by healthcare professionals to track essential items used in surgeries.

This comprehensive study segments the RFID in the healthcare market by product, application, and region, providing a thorough analysis:

RFID in Healthcare Market by Product

Systems & Software
Tags

RFID in Healthcare Market by Application

Asset Tracking
Patient Tracking
Pharmaceutical Tracking
Blood Tracking
Others

RFID in Healthcare Market by Region

North America
Europe
Asia Pacific
The Rest of the World

Key Players in RFID for Healthcare

Leading companies in the RFID market compete on product quality and focus on expanding manufacturing facilities, research and development investments, infrastructure development, and integration across the value chain. This strategic approach enables RFID companies to meet increasing demand, enhance competitiveness, develop innovative products and technologies, reduce production costs, and expand their customer base. Some of the key RFID companies in the healthcare market profiled in this report include:

Alien Technology
Zebra Technologies
Avery Dennison
Impinj
GAO RFID

Insights into the RFID in Healthcare Market

Tags are expected to remain the larger product segment over the forecast period, primarily due to their extensive use in hospitals to locate and ensure the safety of patients, thereby streamlining the care process.
Pharmaceutical tracking is anticipated to continue as the largest application segment, owing to the technology's pivotal role in identifying counterfeit medications, as well as the increasing demand for RFID to manage inventories and reduce labeling errors.
North America is projected to retain its position as the largest region in the RFID in healthcare market, attributed to its well-established healthcare infrastructure, the rising adoption of RFID to mitigate pharmaceutical errors, and the growing number of regulations focusing on patient safety.

For more information about this report visit https://www.researchandmarkets.com/r/jg6l3j

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