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| RFID in Healthcare Market |
RFID
technology helps track patients, medical equipment and supplies in real-time
through radio frequency identification. It provides improved safety, workflow
efficiency and asset management advantages to healthcare organizations.
The global
RFID in Healthcare Market is estimated to be valued at US$ 9.47 Mn in 2024 and is expected to exhibit a CAGR of 2.8% over the forecast period
2024-2031, as highlighted in a new report published by Coherent Market
Insights.
Market key trends: Increased hospital adoption of RFID technology is one of the
key trends driving the growth of RFID in Healthcare Market.RFID helps hospitals
enhance patient safety by eliminating the risks associated with
misidentification. It allows automatic real-time tracking of patients as well
as monitoring of staff movement and location within the hospital premises. With
RFID, hospitals can optimize clinical workflows, streamline operations and
eliminate unnecessary costs. Many leading hospitals are implementing RFID
solutions for asset management, blood management and linen tracking. This is
increasing operational efficiency and delivering significant cost savings.
Growing awareness about the potential benefits of RFID among healthcare
providers is expected to boost the demand during the forecast period.
Segment Analysis
RFID in Healthcare Market is segmented by Product Type into RFID Tags, RFID
Readers, and middleware. Among these, RFID tags sub-segment dominates the
market with highest market share. This is because RFID tags are used in large
volumes for tagging medical devices, medicines, and other items for
identification and tracking purposes across different healthcare organizations.
Key Takeaways
The global RFID
IN Healthcare Market Growth is expected to witness high growth during
the forecast period from 2024 to 2031. The global RFID in Healthcare Market is
estimated to be valued at US$ 9.47 Mn in 2024 and is expected to exhibit a CAGR
of 2.8% over the forecast period 2024-2031.
Regional analysis
North America region holds the highest market share currently owing to rising
adoption of advanced technologies in healthcare sector and presence of
prominent market players in the region. Europe is expected to witness faster
growth during forecast period due to supportive government initiatives in
countries like Germany, UK, and France for deploying RFID technology across
hospitals and clinics.
Key players
Key players operating in the RFID in Healthcare market are Dexcom, Inc.,
Medtronic plc, Abbott Laboratories, and Roche Diabetes Care. Dexcom, Inc. holds
significant market share due to its strong product portfolio of continuous
glucose monitoring systems integrated with RFID technology. Medtronic plc is
also a leading player known for its innovative medical devices integrated with
RFID.
For more insights, read- https://www.ukwebwire.com/rfid-in-healthcare-market-trends-size-and-share-analysis-2/
For more details on the report, Read- https://cmiinfopiece.blogspot.com/2024/01/the-global-luxury-travel-market-growth.html
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