The global RFID in the healthcare market Is estimated to grow to about USD 3436 million by 2028, with a CAGR of 12.9 percent over the forecast period.

SUITE N202, NEW YORK, UNITED STATES, December 19, 2022 /EINPresswire.com/ -- The global RFID in healthcare market Size was worth around USD 1659.2 million in 2021 and is estimated to grow to about USD 3436 million by 2028, with a compound annual growth rate (CAGR) of approximately 12.9 percent over the forecast period. The report analyzes the RFID in healthcare market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.

Healthcare infrastructure has advanced with the increasing use and integration of technology over the past few years and this is expected to propel the demand for RFID in healthcare as well. The RFID in healthcare market is expected to see robust growth over the forecast owing to rising technological proliferation and increasing focus on drug counterfeiting.

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RFID in healthcare makes it extremely easy to manage healthcare inventory and keep a track of drugs in order to avoid under or overstocking and hence improving efficiency and reducing operational costs. The technology enables efficient asset tracking, equipment tracking, pharmaceutical tracking, drug counterfeiting, etc. and hence it is a very versatile application with a wide scope of application through 2029.

The high costs associated with the deployment of RFID in healthcare are expected to act as a restraining factor for market growth in the coming years. The RFID in healthcare providers can focus on reducing the costs of components and making it an affordable technology to deploy for all institutions alike. High costs of advanced tags and RFID systems are expected to hamper the RFID in healthcare market growth in the long run.

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Increasing technological proliferation in all walks of life is expected to favor RFID in healthcare market growth and is expected to be a major trend for all industry verticals across the world. The increasing demand for cost reduction in healthcare industry is expected to propel RFID in healthcare market growth through the forecast period

The COVID-19 pandemic had an adverse impact on the RFID in healthcare market growth and resulted in huge losses for the global RFID in healthcare industry landscape. Restricted research and development activity, closure of healthcare inventories for public access, disrupted demand, and supply chains are some major factors that restrained market potential in 2020.

Browse the full “RFID in Healthcare Market By Product (Systems & Software, Tags), By Application (Asset Tracking, Patient Tracking, Pharmaceutical Tracking, Blood Tracking, Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/rfid-in-healthcare-market

The RFID in healthcare market is expected to make a comeback in the post-pandemic era owing to the rising integration of technology in the healthcare industry and rising demand from emerging economies. Developing economies like India and China are expected to be at the helm of this growth trend owing to the rapidly advancing healthcare technology sector.

The global RFID in healthcare market is segregated based on product, application, and region. Based on application, the global market is distinguished into asset tracking, patient tracking, pharmaceutical tracking, blood tracking, and others. The pharmaceutical tracking segment is expected to account for the majority of the market share and is predicted to be a dominant segment over the forecast period owing to rising demand to deal with counterfeit drugs in the medical industry.

The market for RFID in healthcare in North America is expected to lead the global industry landscape due to high technological proliferation and rapid adoption of advanced technologies in this region. The presence of key RFID technology companies, developed healthcare infrastructure, increasing healthcare expenditure are some other factors that will influence RFID in healthcare market potential through 2028. The United States will lead the growth in this region.

Asia Pacific RFID in healthcare market is anticipated to rise at the fastest CAGR owing to rising technological proliferation and developing healthcare infrastructure. India, China, and Japan are anticipated to be the leading markets in this region.

Key players functioning in the global RFID in healthcare market include

LogiTag
CenTrak
SpaceCode
Impinj
Zebra Technologies Corporation
Biolog-id
Terso Solutions
Carinal Health
Mobile Aspects
Tagsys RFID
Pepperl+Fuchs
metraTec GmbH.

Recent developments:

In February 2018, Terso Solutions and Ingenica Solutions collectively announced the launch of a new storage system that is compatible with RFID technology. This is an automated stock system that can be implemented in hospitals and other healthcare facilities to deliver more efficient management and tracking solutions.

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Global RFID in healthcare market is segmented as follows:

By Product

Systems & Software
Tags

By Application

Asset Tracking
Patient Tracking
Pharmaceutical Tracking
Blood Tracking
Others

By Region

North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.zionmarketresearch.com/requestbrochure/rfid-in-healthcare-market

What’s included In the Report?

Top Market Players with Sales, Revenue, and Business Strategies Analysis
Market Growth Drivers and Restraints
Market Opportunities & Challenges
Research Methodology
Analysis of the market of various perspectives

Global RFID in healthcare market Research Methodology

Data collection modules with large sample sizes are used for data collecting and base year analysis. Obtaining market information or relevant data from various sources and tactics is part of this stage. It entails reviewing and planning all of the information gathered during the previous advance. It also includes the investigation of information contradictions found across various information sources. Market statistics and coherent models are used to assess and estimate market data. The market report’s important success components are market share analysis and key trend analysis. Please contact an analyst or submit your query to learn more.

The Essential Content Covered in the Global RFID in healthcare market:

* Top Key Company Profiles.

* Main Business and Rival Information

* SWOT Analysis and PESTEL Analysis

* Production, Sales, Revenue, Price, and Gross Margin

* Market Share and Size

FREQUENTLY ASKED QUESTIONS

- Which key factors will influence RFID in healthcare market growth over 2022-2028?
- What will be the value of the RFID in healthcare market during 2022-2028?
- Which region will contribute notably towards the RFID in healthcare market value?
- Which are the major players leveraging the RFID in healthcare market growth?

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Kavita More
Zion Market Research
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