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International RFID Blood Monitoring Systems Market Growth, and Opportunities
RFID Blood Monitoring Systems Market
The global RFID blood monitoring systems market report has been segmented on the basis of product type, end user, and region.
RFID blood monitoring systems have several advantages over conventional blood tracking and monitoring methods such as barcodes and manual efforts, which is a major factor driving demand for RFID blood monitoring systems across the globe.
Amajor and rising trend witnessed in the global market is increasing adoption of RFID blood monitoring systems by blood banks and hospitals in developed and in some developing economies across the globe. This is another factor anticipated to propel growth of the global market over the forecast period.
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global rfid blood monitoring systems market by type
On the basis of product type segmentation, RFID systems segment is estimated to account for major revenue share in the global market and is projected to register a CAGR of around 23.0% over the forecast period.
The hospitals segment is projected to account for second-highest revenue share contribution in the global market, and register a CAGR of around 23.0% over the forecast period. This can be attributed to increasing adoption of RFID technologies in hospitals for various applications especially, to monitor use of blood and blood products.
The market in North America dominated the global RFID blood monitoring systems market in revenue terms, and is estimated to account for largest market revenue contribution of US$ 64.5 million in 2017 as compared to that of markets in other regions.
Moreover, recent approval by the Food and Drug Administration (FDA) for use of RFID blood monitoring and tracking systems is another factor anticipated to propel adoption of RFID blood monitoring systems in countries in the North America region.
The market in Asia Pacific is projected to register highest CAGR of around 24.0% over the forecast period, and is expected to be valued around US$ 200.0 Mn in 2026
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