The use of RFID in the global healthcare market is expected to reach an estimated $12.1 billion by 2028 with a CAGR of 16.4% from 2023 to 2028.
The future of RFID in the global healthcare market looks promising with opportunities in the asset tracking, patient tracking, pharmaceutical tracking, and blood tracking applications. The major drivers for this market are increasing use of this technology for improved patient security and effective inventory management, growing adoption of automated processes in the healthcare sector, and expanding use of RFID by staffs to track essential items used in surgeries.
Answer: The global healthcare market in terms of RFID usage is expected to reach an estimated $12.1 billion by 2028.
Q2. What is the growth forecast for RFID in the healthcare market?
Answer: The use of RFID in the global healthcare market is expected to grow with a CAGR of 16.4% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of RFID in the healthcare market?
Answer: The major drivers for this market are increasing use of RFID for improved patient security and effective inventory management, growing adoption of automated processes in the healthcare sector, and expanding use of RFID by staffs to track essential items used in surgeries.
Q4. What are the major segments for RFID in healthcare market?
Answer: The future of RFID in the healthcare market looks promising with opportunities in the asset tracking, patient tracking, pharmaceutical tracking, and blood tracking applications.
Q5. Who are the key RFID companies in the healthcare market?
Answer: Some of the key RFID companies in the healthcare market are as follows:
Answer: It is forecast that tags will remain the larger product type segment over the forecast period due to the substantial use of this technology to find any patient in a hospital, thus ensuring their safety and continuing the care process.
Q7. In RFID in healthcare market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region due to the existence of well-established healthcare infrastructure, increasing use of RFID to reduce risks of pharmaceutical mistakes, and an increase in the number of regulations pertaining to patients’ safety in the region.
Q8. Do we receive customization in this report?
Answer: Yes, 10% customization is provided without any additional cost.
Q2. Which segments will grow at a faster pace and why?
Q3. Which region will grow at a faster pace and why?
Q4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q5. What are the business risks and competitive threats in this market?
Q6. What are the emerging trends in this market and the reasons behind them?
Q7. What are some of the changing demands of customers in the market?
Q8. What are the new developments in the market? Which companies are leading these developments?
Q9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q11. What M&A activity has occurred in the last five years and what has its impact been on the industry?
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The future of RFID in the global healthcare market looks promising with opportunities in the asset tracking, patient tracking, pharmaceutical tracking, and blood tracking applications. The major drivers for this market are increasing use of this technology for improved patient security and effective inventory management, growing adoption of automated processes in the healthcare sector, and expanding use of RFID by staffs to track essential items used in surgeries.
RFID in Healthcare Market by Segment
The study includes trends and forecast for RFID in the global healthcare market by product, application, and region, as follows:RFID in Healthcare Market by Product [Shipment Analysis by Value from 2017 to 2028]:
- Systems & Software
- Tags
RFID in Healthcare Market by Application [Shipment Analysis by Value from 2017 to 2028]:
- Asset Tracking
- Patient Tracking
- Pharmaceutical Tracking
- Blood Tracking
- Others
RFID in Healthcare Market by Region [Shipment Analysis by Value from 2017 to 2028]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of RFID Companies in Healthcare Market
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, RFID companies in the healthcare market cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the RFID companies in the healthcare market profiled in this report include:- Alien Technology
- Zebra Technologies
- Avery Dennison
- Impinj
- GAO RFID
RFID in Healthcare Market Insights
- It is forecast that tags will remain the larger product segment over the forecast period due to the substantial use of this technology to find any patient in a hospital, thus ensuring their safety and continuing the care process.
- Pharmaceutical tracking is expected to remain the largest application segment due to the significant use of this monitoring technology to identify fake medications and growing demand for this device to manage inventories and minimize labeling mistakes.
- North America will remain the largest region due to the existence of well-established healthcare infrastructure, increasing use of RFID to reduce risks of pharmaceutical mistakes, and an increase in the number of regulations pertaining to patient safety in the region.
Features of RFID in the Healthcare Market
- Market Size Estimates: RFID in healthcare market size estimation in terms of value.
- Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
- Segmentation Analysis: RFID in the healthcare market size by various segments, such as by product, application, and region
- Regional Analysis: RFID in healthcare market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth Opportunities: Analysis on growth opportunities in different products, applications, and regions for RFID in the healthcare market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape for the RFID in healthcare market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQs
Q1. What is the healthcare market size in terms of RFID usage?Answer: The global healthcare market in terms of RFID usage is expected to reach an estimated $12.1 billion by 2028.
Q2. What is the growth forecast for RFID in the healthcare market?
Answer: The use of RFID in the global healthcare market is expected to grow with a CAGR of 16.4% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of RFID in the healthcare market?
Answer: The major drivers for this market are increasing use of RFID for improved patient security and effective inventory management, growing adoption of automated processes in the healthcare sector, and expanding use of RFID by staffs to track essential items used in surgeries.
Q4. What are the major segments for RFID in healthcare market?
Answer: The future of RFID in the healthcare market looks promising with opportunities in the asset tracking, patient tracking, pharmaceutical tracking, and blood tracking applications.
Q5. Who are the key RFID companies in the healthcare market?
Answer: Some of the key RFID companies in the healthcare market are as follows:
- Alien Technology
- Zebra Technologies
- Avery Dennison
- Impinj
- GAO RFID
Answer: It is forecast that tags will remain the larger product type segment over the forecast period due to the substantial use of this technology to find any patient in a hospital, thus ensuring their safety and continuing the care process.
Q7. In RFID in healthcare market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region due to the existence of well-established healthcare infrastructure, increasing use of RFID to reduce risks of pharmaceutical mistakes, and an increase in the number of regulations pertaining to patients’ safety in the region.
Q8. Do we receive customization in this report?
Answer: Yes, 10% customization is provided without any additional cost.
This report answers following 11 key questions:
Q1. What are some of the most promising, high-growth opportunities for RFID in the global healthcare market by product (systems & software and tags), application (asset tracking, patient tracking, pharmaceutical tracking, blood tracking, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?Q2. Which segments will grow at a faster pace and why?
Q3. Which region will grow at a faster pace and why?
Q4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q5. What are the business risks and competitive threats in this market?
Q6. What are the emerging trends in this market and the reasons behind them?
Q7. What are some of the changing demands of customers in the market?
Q8. What are the new developments in the market? Which companies are leading these developments?
Q9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q11. What M&A activity has occurred in the last five years and what has its impact been on the industry?
This product will be delivered within 1-3 business days.
Table of Contents
1. Executive Summary
2. RFID in Global Healthcare Market: Market Dynamics
3. Market Trends and Forecast Analysis from 2017 to 2028
4. Market Trends and Forecast Analysis by Region from 2017 to 2028
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players
Companies Mentioned
- Alien Technology
- Zebra Technologies
- Avery Dennison
- Impinj
- GAO RFID
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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