RFID in Healthcare Market Analysis By Application (Equipment Tracking, Medical Report and Blood Samples Tracking, Medicine Tracking), Component, End user and Key Players, Forecast to 2023
RFID in Healthcare Market is Expected to Grow At CAGR Of 23.3% over the forecast period Predicted By Market Research Future. Radio-frequency Identification (RFID) is used for patient observation, patient care efficiencies, provider satisfaction and tracking. RFID is a wireless system that generating radio waves for collecting data from a tag attached to an object, for several purposes such as tracking of objects and automatic identification.
The rising concerns about awareness of patient safety, inventory management and rising acceptance of automation in the healthcare sector are the major factors driving the growth of the global RFID in healthcare market. Additionally, aggressive strategies adopted by the top players and the introduction of new products in the market are fueling the growth of the market during the forecast period. The lack of awareness about the RFID in developing countries and high costs associated with the RFID products are likely to hinder market growth over the forecast period.
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Regional Analysis
The Healthcare RFID market is likely to dominate by USA during the forecast period Due to the increasing cases of drug counterfeiting, increasing prevalence of cancer patients and well-established healthcare sector in the region. The European market is expected to be the second-largest due to support of the healthcare sector and government funding, innovative technologies and improvement in the healthcare sector infrastructure and facilities. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the forecast period due to increasing prevalence of chronic diseases, technological development, the, rising investments in healthcare and expansions by market players in the region. The market in the Middle East & Africa is likely to account for the smallest share of the global healthcare RFID market.
Segmentation
The global healthcare RFID market has been segmented on the basis of component, application, end user, and region.
On the basis of component, the market has been segmented into printers, tags, readers, middleware and others. The tags segment is further divided into active tags and passive tags. The reader segment is further segmented into active reader and passive reader.
On the basis of end user, the market has been classified as biotechnology and pharmaceutical companies, hospitals, research institutes, and others.
The global healthcare RFID market, by application, has been segmented into equipment tracking, people identification and tracking, medical report and blood samples tracking medicine tracking, and others.
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Key Players
Some of the key players in the global healthcare RFID market are Mobile Aspects, Inc., Motorola Solutions, Inc., Radianse, RF Technologies, Stanley Healthcare, and STiD RFID, Alien Technology Corporation, Applied Wireless Identifications Group, Inc., CAEN RFID S.r.l., Gao RFID, Inc., Honeywell International Inc., Impinj Inc., Invengo Information Technology Ltd. Co.,
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