Market Analysis: Global RFID in Healthcare Market
Global RFID in healthcare market is set to witness a healthy CAGR of 22.75% in the forecast period of 2019- 2026. Rising demand for RFID in healthcare sector and increasing awareness about patient safety is another major factor for the growth of this market.
Market Definition: Global RFID in Healthcare Market
Radio- frequency identification (RFID) technology is a technology which uses radio waves so that they transfer data using RFID tag which are usually connected to an object so that they can track and identify subjects. There in increasing usage of RFID technology in healthcare industry because they help the organization to save money and time and also provide accurate data related to their identification, temperature, location etc. There mainly used for application like patient tracking, asset tracking, blood tracking etc. Increasing demand for RFID from various end users will also fuel the growth of this market.
- Technological advancement and development in RFID will also act as a driver for this market
- Increasing healthcare expenditure is driving the market growth
- Rising demand for cost efficient and better drugs among population will also propel the market growth
- Increasing demand of RFID in pharmacies, hospital and biotech companies will also drive the market
- Lack of awareness about RFID will restrain the market growth
- Dearth of barcode system will also hamper the market
- Lack of standardization will also act as a restrain for this market
Segmentation: Global RFID in Healthcare Market
- Systems& Software
- Asset Tracking
- Patient Tracking
- Pharmaceutical Tracking
- Blood Tracking
By End- User
- Research Institutes and Laboratories
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
Key Developments in the Market:
- In September 2018, Barcoding Inc announced that they have acquired Danforth Systems LLC so that they can expand their RFID capabilities. These both companies will create different expertise in operations management, mobile data capture systems, RFID technology and barcoding scanner. This acquisition will help the company to provide accurate, combined, and accurate services to their customers.
- In January 2017, Novanta Inc announced that they have acquired ThingMagic. This acquisition will help them to combine RFID based technologies of JADAK and ThingMagic so that Novanta can provide RFID solutions and strengthening their position in market place. This will also help them to provide improvement in workflow solutions, anti-counterfeiting, and asset tracking in a medical environment.
Global RFID in healthcare market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of RFID in healthcare market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global RFID in healthcare market are Alien Technology, LLC, GAO Group Inc, Honeywell International Inc, Impinj, Inc., Mobile Aspects, Inc., RF Technologies, Inc., Radianse, STID, STANLEY Healthcare, SATO HOLDINGS CORPORATION. Motorola Solutions, Inc, CAEN RFID S.r.l., NewAge Industries, Inc., IBM Corporation, Siemens, AMERICAN RFID SOLUTIONS, LLC, 3M.
Research Methodology: Global RFID in Healthcare Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global RFID in healthcare market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)