(PharmaNewsWire.Com, June 03, 2018 ) Radio-Frequency Identification (RFID) uses radio waves to read and capture information stored on a tag attached to an object. The tag can be read from several feet distance and it does not need to be in direct line-of-sight of the reader. RFID technology is used in patient safety, supply chain applications, and in quality assurance applications. The technology can be deployed in hospitals and clinics to improve patient flow, reduce medial errors, improve asset utilization rates, and manage inventories & implants, among others.
Improvement of inventory management in hospitals, pharmacies, & biotechnology companies, low-cost and high efficiency of the RFID systems, patient safety by healthcare providers, and adoption of automated process in hospitals & pharmacies is expected to drive the growth of the market. Moreover, government policies to refine tracking system for medical devices and biological products is expected to provide opportunity for the growth of RFID in Healthcare market during the forecast period.
The “Global RFID in Healthcare Market Analysis to 2025” is a specialized and in-depth study of the RFID in Healthcare industry with a focus on the global market trend. The report aims to provide an overview of global RFID in healthcare market with detailed market segmentation by product, application, end user, and geography. The global RFID in Healthcare market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading market players and offers key trends and opportunities in the market.
The RFID in healthcare market is segmented based on product as, tags, readers, printers, and software. On the basis of application the RFID in Healthcare market is segmented into monitoring and tracking. Based on the end user, the market is segmented as hospitals, and pharmaceutical & biotechnology companies.
The report provides a detailed overview on the industry including both qualitative and quantitative information. It provides overview and forecast of the global RFID in Healthcare market based on product, application and end user. It also provides market size and forecast till 2025 for overall RFID in healthcare market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 13 countries globally along with current trend and opportunities prevailing in the region.
North America is anticipated to hold largest share of the RFID in healthcare market, followed by Europe. Factors such as increasing number of collaboration in the medical device industry and presence of sophisticated healthcare infrastructure are driving the growth of the market in this region. Moreover, need for tracking medical devices in the developing countries such as China and India and low cost of RFID component provided by China are anticipated to provide opportunities in RFID in healthcare market in Asia. The report analyzes factors affecting market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the market in these regions.
The report also includes the profiles of key RFID in healthcare companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, products and services offered, financial information of last 3 years, key development in past five years. Some of the key players influencing the market 3M, Hitachi, Ltd., NewAge Industries, Inc., AAID Security Solutions, Inc., Motorola Mobility LLC, IBM, Siemens AG, ACC Systems Incorporated, BearingPoint, and AMERICAN RFID SOLUTIONS, LLC.
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