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Global RFID Market in Healthcare Market 2021 Segmented by Application and Geography Trends, Growth and Forecasts

RFID Market in Healthcare

RFID Market in Healthcare Market” report provides strategic supports mentioned by the business specialists with market sources, amount of manufacturing cost structure, raw materials, forecasts, turnover, manufacturing outlays, latest market trends, labor cost, demands and much more. RFID Market in Healthcare market report covers a comprehensive market structure through the globe with an in-depth study of major dynamics (Drivers, Challenges, Opportunities).  

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Key Market Trends:

Asset Tracking Using RFID Holds a Significant Market Share Among All Other Applications

– Manually managing hospital assets, which include medical equipment, surgical equipment, data charts, etc., becomes tedious, especially during emergencies.
– Moreover, according to the World Health Organization estimates, one million people die each year from counterfeit medicines.
– Therefore, with RFID asset tracking solutions, hospitals are able to save significant time and even costs, as they are able to curb theft and loses to a significant extent.
– North America leads when it comes to the highest number of counterfeits concerning pharmaceuticals, followed by Asia.

North America to Witness the Fastest Growth.

– Most physicians in North America believe that digital health has robust potential in terms of improving patient care, and are actively adopting digital solutions in their practices.
– The North York General Hospital is the first hospital in Canada to leverage RFID medication management solution, to enhance accuracy and efficiency within its pharmacy operations
– Furthermore, in June 2018, Fujitsu Frontech North America (FFNA) released one of the smallest laundry tags on the market with built-in RFID technology. The size is at 6 to 7 millimeters in width. The use of RFID by the health-care markets has grown fast enough in this region that it is putting pressure on manufacturers to insert RFID tags into their products before shipping them to customers
– Therefore, digital health technology expansion coupled with distinguished players such as Alien Technology LLC, Avery Dennison Corp., Allflex USA Inc., Applied Wireless Identifications Group Inc. investing in RFID technology, is driving the market growth in the region.

Market Overview:

  • The RFID market in healthcare is expected to register a CAGR of over 13.8%, during the forecast period 2019 – 2024.
  • – Growing stringency in the pharmaceutical sector with regard to medicine labeling is the major driver for the introduction of RFID in this market. Manufacturers operating in the an Union add unique identification numbers to the outer packaging of all prescription drugs and equip containers with tamperproof seals starting February 2019.
  • – The stricter government policy in quality assurance in the healthcare sector indirectly assists the RFID market and creates an opportunity for the new entrants in the market. For instance, the government of released the National Health Policy (NHP) 2017 to serve as a guiding document for the policymakers in the achievement of India’s national goals and international commitments. The capital requirements are moderate, making it competitive for the businesses to quit easily.
  • – Many alternate labeling methods are being developed like linear barcoding and 2D data matrix barcoding, which hamper the growth of RFID. GS1 logistics label is the latest example which is used in the serial shipping container.<

    Key Manufacturers Like 

  • Smartrac NV
  • Avery Dennison Corporation
  • CCL Industries, Inc.
  • Alien Technology Corporation
  • Gao RFID, Inc
  • Honeywell International Inc.
  • S3Edge Inc.
  • STANLEY Healthcare
  • Biolog Inc
  • Impinj Inc
  • Mobile Aspects Inc.
  • RF Technologies
  • STid Groupe
  • Champion Healthcare Technologies
  • Terso Solutions Inc.

    Scope of the Report:

  • The counterfeiting of medicines and pharmacy-related products have become a matter of worldwide concern. One of the reasons that RFID is expanding considerably in the healthcare market is the sheer number of applications that can benefit. In hospitals that have been outfitted with the technology, RFID is present in many forms – from tracking of surgical tools to tracking patients and staff.

    RFID Market in Healthcare market report focuses on the latest trends in the global and regional spaces on all the significant components, including the capacity, cost, price, technology, supplies, production, profit, and competition. Moreover, the old data and present development of the RFID Market in Healthcare market have been given in the scope of the report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the RFID Market in Healthcare market have also been involved in the study.

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

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    Key Questions Answered in Market Report: –

    • What will the market growth rate, Overview and Analysis by Type of RFID Market in Healthcare market in 2023?
    • What are the key factors driving, Analysis by Applications and Countries RFID Market in Healthcare market?
    • What are Dynamics, This Overview Includes Analysis of Scope, and price analysis of top Vendors Profiles of RFID Market in Healthcare?
    • Who are Opportunities, Risk and Driving Force of RFID Market in Healthcare market? Knows Upstream Raw Materials Sourcing and Downstream Buyers
    • Who are the opportunities and threats faced by the vendors in RFID Market in Healthcare space? Business Overview by Type, Applications, Gross Margin and Market Share
    • What are the RFID Market in Healthcare market opportunities, market risk and market overview of the Market?

    Lastly, the Global RFID Market in Healthcare Market Research covers a complete market structure across the world with a comprehensive analysis of major key factors. This report provides planned orientations referred by the industry experts.

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    Study objectives of RFID Market in Healthcare Market Report:

    • To provide a detailed analysis of the market structure along with the RFID Market in Healthcare market forecast of various segments and sub-segments of the RFID Market in Healthcare market
    • To provide insights into factors influencing and affecting market growth
    • To provide historical, current, and forecast revenue of market segments based on material, type, design, and end user
    • To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and key countries
    • To provide strategic profiling of key players in the market, comprehensively analyzing their market shares, core competencies, and drawing a competitive landscape for the market
    • To provide economic factors, technology and RFID Market in Healthcare market trends that influence the global RFID Market in Healthcare market

    Detailed TOC of RFID Market in Healthcare Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Growing Stringency in Pharmaceutical Sector with Regard to Medicine Labelling
    4.3.2 Increased Applications and Use of Devices Supporting RFID Across the Healthcare Sector
    4.4 Market Restraints
    4.4.1 Development of Alternate Labelling Methods
    4.5 Value Chain Analysis
    4.6 Industry Attractiveness – Porter’s Five Force Analysis
    4.6.1 Threat of New Entrants
    4.6.2 Bargaining Power of Buyers/Consumers
    4.6.3 Bargaining Power of Suppliers
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Product
    5.1.1 Tags and Labels
    5.1.2 RFID Systems
    5.1.2.1 Asset Tracking Systems
    5.1.2.2 Patient Tracking Systems
    5.1.2.3 Pharmaceutical Tracking Systems
    5.1.2.4 Blood Monitoring Systems
    5.2 By End User
    5.2.1 Hospitals
    5.2.2 Pharmaceutical
    5.2.3 Other End Users (Research Institutes and Laboratories)
    5.3 Geography
    5.3.1 North America
    5.3.1.1 United States
    5.3.1.2 Canada
    5.3.2
    5.3.2.1 Germany
    5.3.2.2 United Kingdom
    5.3.2.3 France
    5.3.2.4 Rest of
    5.3.3 Asia-Pacific
    5.3.3.1 China
    5.3.3.2 Japan
    5.3.3.3 India
    5.3.3.4 Rest of Asia-Pacific
    5.3.4 Latin America
    5.3.5 Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Smartrac NV
    6.1.2 Avery Dennison Corporation
    6.1.3 CCL Industries, Inc.
    6.1.4 Alien Technology Corporation
    6.1.5 Gao RFID, Inc
    6.1.6 Honeywell International Inc.
    6.1.7 S3Edge Inc.
    6.1.8 STANLEY Healthcare
    6.1.9 Biolog Inc
    6.1.10 Impinj Inc
    6.1.11 Mobile Aspects Inc.
    6.1.12 RF Technologies
    6.1.13 STid Groupe
    6.1.14 Champion Healthcare Technologies
    6.1.15 Terso Solutions Inc

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

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