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The Increasing RFID penetration in different sectors and IoT development are driving the demand for the market.

SURREY, BRITISH COLUMBIA, CANADA , April 11, 2022 /EINPresswire.com/ -- The latest and updated research report on the Global RFID in Healthcare Market covers a comprehensive overview of the RFID in Healthcare market, future economic condition, competitive landscape mapping, supply and demand trends, and production and consumption analysis. The report also covers the influence of the COVID-19 pandemic on the RFID in Healthcare market. The pandemic has dynamically affected all aspects of life on a global scale along with drastic changes in the economy and market conditions. The report covers the currently fluctuating market scenario along with present and future assessment of the COVID-19 impact. The report encompasses the historical data, company overview, financial standing, and necessary information about the new and key players of the market.

The Increasing RFID penetration in different sectors and IoT development are driving the demand for the market.

RFID in Healthcare Market Size – USD 3.69 billion in 2019, RFID in Healthcare Market Growth - CAGR of 15.0%, RFID in Healthcare Market trends – High demand for patient safety.

To know more about the report: https://www.emergenresearch.com/industry-report/rfid-in-healthcare-market

The report also talks about the shift in demands and emerging trends that are expected to drive the growth of the market. The rising demand for the RFID in Healthcare products is expected to drive the demand for RFID in Healthcare , thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.

The crisis has affected the demand and supply pattern, as well as the trends of the industry. It has also brought an economic slowdown that has affected the business of the key manufacturers of the industry. The report estimates the impact of this crisis on the current scenario and future prospects and provides a post-COVID market scenario.This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the RFID in Healthcare sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.

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. A growing operating cost reduction requirement is expected to cause a rise in RFID adoption. This system is also used for effective patient monitoring and better control of the workflow in hospitals, blood banks, and pathology labs.

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.This approach helps to decrease drug errors and increases health. Growth is also driven by the growing need for patient care and legislation to improve health. With this technology, patient monitoring through various parts of the hospital helps minimize waiting times and is, therefore, gaining popularity in hospitals.

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)
Systems & Software
Tags
Application Outlook (Revenue: USD Billion; 2017-2027)
Asset Tracking
Patient Tracking
Pharmaceutical Tracking
Blood Tracking
Others
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Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
US.
Canada
Europe
Germany
UK
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
MEA
Saudi Arabia
UAE
Rest of MEA
The report considers the following timeline for market estimation:

Historical Years: 2017-2018
Base Year: 2019
Estimated Year: 2027
Forecast Years: 2020-2027
The RFID in Healthcare Market report provides full coverage of the companies’ data, including details about their production and manufacturing capacity, product portfolio, business overview, revenue, gross profit margins, sales network and distribution channel, financial standing, and market position. The report also studies business strategies and strategic alliances undertaken by companies to gain a robust footing in the market. The report sheds light on the mergers and acquisitions, collaborations, joint ventures, brand promotions and product launches, agreements and partnerships, and corporate and government deals. The comprehensive analysis of the competitive landscape offers the readers a deeper understanding about the competitors.

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