Press release
RFID in Healthcare Market Size by 2027 |Industry Segmentation by Type, Application, Regions, Key News and Top Companies Profiles by 2027
RFID in Healthcare Market
It is expected that high operating costs linked to the healthcare sector would accelerate the adoption of RFID technology in healthcare organizations. Pharmaceutical firms, suppliers of medical instruments, hospitals, and many other healthcare entities leverage this technology to monitor the cost of inventories. RFID technology allows these companies to manage their inventories effectively and help prevent situations of stock-out and over-stocking. RFID tags allow surgical staff to easily monitor the medical devices used in operation theatres, thereby increasing patient safety.
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The Covid-19 Impact:
The research report draws attention to the profound impact of the COVID-19 pandemic on the global RFID in Healthcare market and its crucial segments. The report evaluates the key factors influencing the market growth and considers the COVID-19 pandemic as one of the contributing elements for the economic slowdown of the market. The pandemic has altered various aspects of the global RFID in Healthcare market scenario. However, this report offers an extensive COVID-19 impact analysis of the market to help readers gain knowledge of the significant effects of the outbreak on the present and future scenario of this business space. Hence, this is the newest report offering full coverage of the current economic situation that caused a global health crisis.
Key Highlights From The Report
• Increased use of tags is expected to boost the market during the projected period for monitoring various properties, patients, staff, drug products, and supported blood. The segment held a market share of 62.2% in the year 2019.
• Due to the growing need to identify fake drug products and demand for inventory management, the pharmaceutical monitoring application segment is the leader in the adoption of RFID technology. The segment is forecasted to grow with a CAGR of 15.1% during the forecast period.
• Due to the growing number of hospitals and the presence of patient safety laws, North America has dominated the global market. The US is the region's biggest market, helping to make this technology more popular in healthcare. The regional growth is driven by high awareness of the advantages of incorporating RFID together with growing concern about the risk of medication errors.
• Key participants include Logi-Tag Systems, Cardinal Health, LLC, Terso Solutions, Hurst Green Plastics Ltd, CenTrak, Tagsys, Zebra Technologies Corporation, Impinj, Inc., MetraTec GmbH, and Palex Medical SA, among others.
For the purpose of this report, Emergen Research has segmented into the global RFID in Healthcare Market on the basis of product, application, and region:
• Product Outlook (Revenue: USD Billion; 2017-2027)
o Systems & Software
o Tags
• Application Outlook (Revenue: USD Billion; 2017-2027)
o Asset Tracking
o Patient Tracking
o Pharmaceutical Tracking
o Blood Tracking
o Others
Regional Analysis:
The global RFID in Healthcare market consists of various significant regional segments. Under this section of the report, the product demand, output, and estimated revenue share of each region have been ascertained. The most prominent regions dictating the global market include:
• North America (U.S., Canada, Mexico)
• South America (Brazil, Argentina, Ecuador, Chile)
• Europe (U.K., Germany, France, Italy)
• Asia Pacific (China, Japan, India, Korea)
• Middle East &Africa (Egypt, Turkey, Saudi Arabia, Iran)
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Key Reasons to Buy This Report:
• The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.
• It entails a detailed inspection of the RFID in Healthcare market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.
• The report provides the reader with a deep understanding of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and powerful business tactics.
• Furthermore, the report identifies the key regions and segments that influence the RFID in Healthcare market.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. RFID in Healthcare Market Segmentation & Impact Analysis
4.1. RFID in Healthcare Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Rising requirement for reducing operating costs
4.2.2.2. Adoption of Radio-frequency Identification (RFID) in healthcare
4.2.2.3. Recent technological advancement
4.2.2.4. Improving healthcare infrastructure in emerging economies
4.2.2.5. Mandates for increasing patient safety
4.2.3. Market restraints analysis
4.2.3.1. Industry Challenges
4.2.3.2. Lack of skilled labor during COVID-19
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. RFID in Healthcare Market By Product Insights & Trends, Revenue (USD Million)
5.1. Product Location Dynamics & Market Share, 2019 & 2027
5.1.1. Tags
5.1.2. Systems and Software
READ MORE…!
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