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RFID in Healthcare Market by Components (Readers, Tags, Printers, and Cabinets), by Application (Supply Chain and Medical Report, Samples and Blood Transfer Tracking, People Identification and Tracking, Medicine Tracking, and Equipment Tracking), and by End User (Hospitals, Biotechnology Companies, and Pharmaceutical Companies): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024

Published Date: 01-Nov-2018 Category: Healthcare Report Format : PDF Pages: 110 Report Code: ZMR-270 Status : Published

Global RFID in healthcare market expected to generate revenue of around USD 5.2billion by end of 2024, growing at a CAGR of around 21.54% between 2018 and 2024. The radiofrequency identification (RFID) technology makes use of electromagnetic fields to mechanically track and identify tags fixed to the objects.

Description

The report covers forecast and analysis for the RFID in Healthcare Market on a global and regional level. The study provides historical data from 2015 to 2017 along with a forecast from 2018 to 2024 based on revenue (USD Billion). The study includes drivers and restraints for the RFID in healthcare market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the RFID in healthcare market on a global as well as regional level.

In order to give the users of this report a comprehensive view on the RFID in healthcare market, we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein components segment is benchmarked based on their market size, growth rate, and general attractiveness.

Global RFID in Healthcare Market

The report provides company market share analysis in order to give a broader overview of the key players in the RFID in healthcare market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new component launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the RFID in healthcare market on the global and regional basis. 

The study provides a decisive view on the RFID in healthcare market by segmenting the market based on components, application, end user, and region. The segments have been analyzed based on present and future trends and the market is estimated from 2018 to 2024. The components segment has been divided into readers, tags, printers, and cabinets. Tags sub-segment holds the majority share of the components segment due to its high penetration across myriad sectors. Based on application, RFID in healthcare market has been segmented into the supply chain and medical report, samples and blood transfer tracking, people identification and tracking, medicine tracking, and equipment tracking. Samples and blood transfer tracking sub-segment holds the majority share of the application segment due to the growing requirement of blood products inventory management. Based on the end user, RFID in healthcare market has been segmented into hospitals, biotechnology companies, and pharmaceutical companies.

The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa with it further divided into major countries including the U.S. Canada, Germany, France, the UK, China, Japan, India, and Brazil. This segmentation includes demand for RFID in healthcare market based on individual segment and applications in all the regions and countries.

The report also includes detailed profiles of end players such as Hitachi, Ltd, 3M, AdvantaPure, IBM, Aaid Security Solutions Inc., Siemens, Motorola, Alvin Systems, BearingPoint, American RFID Solutions, and ACC Systems Inc. among others.

This report segments the global RFID in healthcare market as follows:

Global RFID in Healthcare Market: By Components

  • Readers
  • Tags
  • Printers
  • Cabinets

Global RFID in Healthcare Market: By Application

  • Supply Chain and Medical Report
  • Samples and Blood Transfer Tracking
  • People Identification and Tracking
  • Medicine Tracking
  • Equipment Tracking

Global RFID in Healthcare Market: By End User

  • Hospitals
  • Biotechnology Companies
  • Pharmaceutical Companies

Global RFID in Healthcare Market: By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

Table Of Content

  • Chapter 1. Introduction
    • 1.1. Report description and scope
    • 1.2. Research scope
    • 1.3. Research methodology
      • 1.3.1. Market research process
      • 1.3.2. Market research methodology
  •  
  • Chapter 2. Executive Summary
    • 2.1. Global RFID in Healthcare Market, 2017-2024(USD Billion)
    • 2.2. Global RFID in Healthcare Market : Snapshot
  •  
  • Chapter 3. RFID in Healthcare Market - Dynamics
    • 3.1. Introduction
    • 3.2. Market drivers
      • 3.2.1. Global RFID in Healthcare Market drivers: Impact analysis
      • 3.2.2. Inventory management enhancement in pharmacies, hospitals, and biotech companies
      • 3.2.3. High accuracy and low-cost of RFID systems
    • 3.3. Market restraints
      • 3.3.1. Absence of awareness regarding RFID
      • 3.3.2. Lack of barcode systems
    • 3.4. Opportunities
      • 3.4.1. Research activities undertaken by not for profit organizations intended for the development of new and improved technologies
      • 3.4.2. Increasing adoption of RFID in healthcare
    • 3.5. Porter's five forces analysis
      • 3.5.1. Bargaining power of suppliers
      • 3.5.2. Bargaining power of buyers
      • 3.5.3. Threat from new entrants
      • 3.5.4. Threat from new substitutes
      • 3.5.5. Degree of competition
    • 3.6. Market attractiveness analysis
      • 3.6.1. Market attractiveness analysis, by productsegment
      • 3.6.2. Market attractiveness analysis, by application
      • 3.6.3. Market attractiveness analysis, by end usesegment
  •  
  • Chapter 4. Global RFID in Healthcare Market - Competitive Landscape
    • 4.1. Company Market Share Analysis
      • 4.1.1. Global RFID in Healthcare Market: company market share, 2017
    • 4.2. Strategic Development
      • 4.2.1. Acquisitions & Mergers
      • 4.2.2. New Components Launch
      • 4.2.3. Agreements, Partnerships, Collaborations and Joint Ventures
      • 4.2.4. Research and Development, Regional Expansion
  •  
  • Chapter 5. Global RFID in Healthcare Market - ComponentsSegment Analysis
    • 5.1. Global RFID in Healthcare Market: Componentsoverview
      • 5.1.1. Global RFID in Healthcare Market revenue share, by Components, 2017 and 2024
    • 5.2. Readers
      • 5.2.1. Global RFID in Healthcare Market for Readers, 2017 - 2024(USD Billion)
    • 5.3. Tags
      • 5.3.1. Global RFID in Healthcare Market for Tags, 2017 - 2024(USD Billion)
    • 5.4. Printers
      • 5.4.1. Global RFID in Healthcare market for Printers, 2017 - 2024 (USD Billion)
    • 5.5. Cabinets
      • 5.5.1. Global RFID in Healthcare market for Cabinets, 2017 - 2024 (USD Billion)
  •  
  • Chapter 6. Global RFID in Healthcare Market - ApplicationSegment Analysis
    • 6.1. Global RFID in Healthcare Market: Applicationoverview
      • 6.1.1. Global RFID in Healthcare Market revenue share, by Application, 2017 and 2024
    • 6.2. Supply Chain and Medical Report
      • 6.2.1. Global RFID in Healthcare market for Supply Chain and Medical Report, 2017 - 2024 (USD Billion)
    • 6.3. Samples and Blood Transfer Tracking
      • 6.3.1. Global RFID in Healthcare market for Samples and Blood Transfer Tracking, 2017 - 2024 (USD Billion)
    • 6.4. People Identification and Tracking
      • 6.4.1. Global RFID in Healthcare market for People Identification and Tracking, 2017 - 2024 (USD Billion)
    • 6.5. Medicine Tracking
      • 6.5.1. Global RFID in Healthcare market for Medicine Tracking, 2017 - 2024 (USD Billion)
    • 6.6. Equipment Tracking
      • 6.6.1. Global RFID in Healthcare market for Equipment Tracking, 2017 - 2024 (USD Billion)
  •  
  • Chapter 7. Global RFID in Healthcare Market - End UserSegment Analysis
    • 7.1. Global RFID in Healthcare Market: End Useroverview
      • 7.1.1. Global RFID in Healthcare Market revenue share, by End User, 2017 and 2024
    • 7.2. Hospitals
      • 7.2.1. Global RFID in Healthcare market for Hospitals, 2017 - 2024 (USD Billion)
    • 7.3. Biotechnology Companies
      • 7.3.1. Global RFID in Healthcare market for Biotechnology Companies, 2017 - 2024 (USD Billion)
    • 7.4. Pharmaceutical Companies
      • 7.4.1. Global RFID in Healthcare market for Pharmaceutical Companies, 2017 - 2024 (USD Billion)
  •  
  • Chapter 8. Global RFID in Healthcare Market - Regional Segment Analysis
    • 8.1. Global RFID in Healthcare Market: Regional overview
      • 8.1.1. Global RFID in Healthcare Market revenue share, by region, 2017 and 2024
    • 8.2. North America
      • 8.2.1. North America RFID in Healthcare Market revenue, by Components, 2017 - 2024(USD Billion)
      • 8.2.2. North America RFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
      • 8.2.3. North America RFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.2.4. U.S.
        • 8.2.4.1. U.S. RFID in Healthcare Market revenue, by Components, 2017 - 2024(USD Billion)
        • 8.2.4.2. U.S. RFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.2.4.3. U.S. RFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.2.5. Canada
        • 8.2.5.1. Canada RFID in Healthcare Market revenue, by Components, 2017 - 2024 (USD Billion)
        • 8.2.5.2. Canada RFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.2.5.3. Canada RFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.2.6. Rest of North America
        • 8.2.6.1. Rest of North AmericaRFID in Healthcare Market revenue, by Components, 2017 - 2024(USD Billion)
        • 8.2.6.2. Rest of North AmericaRFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.2.6.3. Rest of North AmericaRFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
    • 8.3. Europe
      • 8.3.1. EuropeRFID in Healthcare Market revenue, by Components, 2017 - 2024(USD Billion)
      • 8.3.2. EuropeRFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
      • 8.3.3. EuropeRFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.3.4. Germany
        • 8.3.4.1. GermanyRFID in Healthcare Market revenue, by Components, 2017 - 2024(USD Billion)
        • 8.3.4.2. Germany RFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.3.4.3. Germany RFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.3.5. U.K.
        • 8.3.5.1. U.K. RFID in Healthcare Market revenue, by Components, 2017 - 2024(USD Billion)
        • 8.3.5.2. U.K. RFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.3.5.3. U.K. RFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.3.6. France
        • 8.3.6.1. FranceRFID in Healthcare Market revenue, by Components, 2017 - 2024(USD Billion)
        • 8.3.6.2. FranceRFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.3.6.3. FranceRFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.3.7. Italy
        • 8.3.7.1. Italy RFID in Healthcare Market revenue, by Components, 2017 - 2024 (USD Billion)
        • 8.3.7.2. Italy RFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.3.7.3. Italy RFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.3.8. Spain
        • 8.3.8.1. Spain RFID in Healthcare Market revenue, by Components, 2017 - 2024 (USD Billion)
        • 8.3.8.2. Spain RFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.3.8.3. Spain RFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.3.9. Russia
        • 8.3.9.1. Russia RFID in Healthcare Market revenue, by Components, 2017 - 2024 (USD Billion)
        • 8.3.9.2. Russia RFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.3.9.3. Russia RFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.3.10. Rest of Europe
        • 8.3.10.1. Rest of EuropeRFID in Healthcare Market revenue, by Components, 2017 - 2024(USD Billion)
        • 8.3.10.2. Rest of EuropeRFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.3.10.3. Rest of EuropeRFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
    • 8.4. Asia Pacific
      • 8.4.1. Asia PacificRFID in Healthcare Market revenue, by Components, 2017 - 2024(USD Billion)
      • 8.4.2. Asia PacificRFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
      • 8.4.3. Asia PacificRFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.4.4. China
        • 8.4.4.1. ChinaRFID in Healthcare Market revenue, by Components, 2017 - 2024(USD Billion)
        • 8.4.4.2. ChinaRFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.4.4.3. ChinaRFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.4.5. Japan
        • 8.4.5.1. JapanRFID in Healthcare Market revenue, by Components, 2017 - 2024(USD Billion)
        • 8.4.5.2. JapanRFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.4.5.3. JapanRFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.4.6. India
        • 8.4.6.1. IndiaRFID in Healthcare Market revenue, byComponents, 2017 - 2024(USD Billion)
        • 8.4.6.2. IndiaRFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.4.6.3. IndiaRFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.4.7. Australia
        • 8.4.7.1. AustraliaRFID in Healthcare Market revenue, byComponents, 2017 - 2024 (USD Billion)
        • 8.4.7.2. AustraliaRFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.4.7.3. AustraliaRFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.4.8. Rest of Asia Pacific
        • 8.4.8.1. Rest of Asia PacificRFID in Healthcare Market revenue, by Components, 2017 - 2024(USD Billion)
        • 8.4.8.2. Rest of Asia PacificRFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.4.8.3. Rest of Asia PacificRFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
    • 8.5. Latin America
      • 8.5.1. Latin AmericaRFID in Healthcare Market revenue, by Components, 2017 - 2024(USD Billion)
      • 8.5.2. Latin AmericaRFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
      • 8.5.3. Latin AmericaRFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.5.4. Brazil
        • 8.5.4.1. BrazilRFID in Healthcare Market revenue, by Components, 2017 - 2024(USD Billion)
        • 8.5.4.2. BrazilRFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.5.4.3. BrazilRFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.5.5. Mexico
        • 8.5.5.1. MexicoRFID in Healthcare Market revenue, by Components, 2017 - 2024 (USD Billion)
        • 8.5.5.2. MexicoRFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.5.5.3. MexicoRFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.5.6. Argentina
        • 8.5.6.1. ArgentinaRFID in Healthcare Market revenue, by Components, 2017 - 2024 (USD Billion)
        • 8.5.6.2. ArgentinaRFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.5.6.3. ArgentinaRFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.5.7. Rest of Latin America
        • 8.5.7.1. Rest of Latin AmericaRFID in Healthcare Market revenue, by Components, 2017 - 2024(USD Billion)
        • 8.5.7.2. Rest of Latin AmericaRFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.5.7.3. Rest of Latin AmericaRFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
    • 8.6. Middle East and Africa
      • 8.6.1. Middle East and AfricaRFID in Healthcare Market revenue, by Components, 2017 - 2024(USD Billion)
      • 8.6.2. Middle East and AfricaRFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
      • 8.6.3. Middle East and AfricaRFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.6.4. Saudi Arabia
        • 8.6.4.1. Saudi ArabiaRFID in Healthcare Market revenue, by Components, 2017 - 2024 (USD Billion)
        • 8.6.4.2. Saudi ArabiaRFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.6.4.3. Saudi ArabiaRFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.6.5. UAE
        • 8.6.5.1. UAERFID in Healthcare Market revenue, by Components, 2017 - 2024 (USD Billion)
        • 8.6.5.2. UAERFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.6.5.3. UAERFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.6.6. South Africa
        • 8.6.6.1. South AfricaRFID in Healthcare Market revenue, by Components, 2017 - 2024 (USD Billion)
        • 8.6.6.2. South AfricaRFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.6.6.3. South AfricaRFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.6.7. Qatar
        • 8.6.7.1. QatarRFID in Healthcare Market revenue, by Components, 2017 - 2024 (USD Billion)
        • 8.6.7.2. QatarRFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.6.7.3. QatarRFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
      • 8.6.8. Rest of Middle East and Africa
        • 8.6.8.1. Rest of Middle East and Africa RFID in Healthcare market revenue, by Components, 2017 - 2024 (USD Billion)
        • 8.6.8.2. Rest of Middle East and Africa RFID in Healthcare Market revenue, by Application, 2017 - 2024 (USD Billion)
        • 8.6.8.3. Rest of Middle East and Africa RFID in Healthcare Market revenue, by End User, 2017 - 2024 (USD Billion)
  •  
  • Chapter 9. Company Profile
    • 9.1. Hitachi, Ltd.
      • 9.1.1. Overview
      • 9.1.2. Financials
      • 9.1.3. Therapy portfolio
      • 9.1.4. Business strategy
      • 9.1.5. Recent developments
    • 9.2. 3M
      • 9.2.1. Overview
      • 9.2.2. Financials
      • 9.2.3. Therapy portfolio
      • 9.2.4. Business strategy
      • 9.2.5. Recent developments
    • 9.3. AdvantaPure
      • 9.3.1. Overview
      • 9.3.2. Financials
      • 9.3.3. Therapy portfolio
      • 9.3.4. Business strategy
      • 9.3.5. Recent developments
    • 9.4. IBM
      • 9.4.1. Overview
      • 9.4.2. Financials
      • 9.4.3. Therapy portfolio
      • 9.4.4. Business strategy
      • 9.4.5. Recent developments
    • 9.5. Aaid Security Solutions Inc
      • 9.5.1. Overview
      • 9.5.2. Financials
      • 9.5.3. Therapy portfolio
      • 9.5.4. Business strategy
      • 9.5.5. Recent developments
    • 9.6. Siemens
      • 9.6.1. Overview
      • 9.6.2. Financials
      • 9.6.3. Therapy portfolio
      • 9.6.4. Business strategy
      • 9.6.5. Recent developments
    • 9.7. Motorola
      • 9.7.1. Overview
      • 9.7.2. Financials
      • 9.7.3. Therapy portfolio
      • 9.7.4. Business strategy
      • 9.7.5. Recent developments
    • 9.8. Alvin Systems
      • 9.8.1. Overview
      • 9.8.2. Financials
      • 9.8.3. Therapy portfolio
      • 9.8.4. Business strategy
      • 9.8.5. Recent developments
    • 9.9. BearingPoint
      • 9.9.1. Overview
      • 9.9.2. Financials
      • 9.9.3. Therapy portfolio
      • 9.9.4. Business strategy
      • 9.9.5. Recent developments
    • 9.10. American RFID Solutions
      • 9.10.1. Overview
      • 9.10.2. Financials
      • 9.10.3. Therapy portfolio
      • 9.10.4. Business strategy
      • 9.10.5. Recent developments
    • 9.11. ACC Systems Inc.
      • 9.11.1. Overview
      • 9.11.2. Financials
      • 9.11.3. Therapy portfolio
      • 9.11.4. Business strategy
      • 9.11.5. Recent developments

Methodology

Free Analysis

Radiofrequency identification (RFID) is a technology that employs electromagnetic fields for identifying and tracking tags fixed to objects automatically. The tags consist of data that is stored electronically. The passive tags gather energy from interviewing radio waves of the closely placed RFID reader. Active tags, on the other hand, consist of a native power source that enables it to operate far away from the RFID reader. The radiofrequency identification (RFID) technology differs from the barcode system due to the wide distance range. The RFID tag can function even if it is far from the reader’s line of sight. RFID tags are employed in a wide variety of industries ranging from automobiles to pharmaceutical and logistics to livestock management. RFID tags and readers are the two main components of the RFID system. The tags are implanted with a receiver and transmitter. There are two parts of the tags: a microchip and an antenna. The microchip stocks and processes data, whereas the antenna receives and conveys the signal. The tags also have a protective material that safeguards it from environmental conditions. The usage determines what type of protective material is used in the tag.

RFID system is being widely used in retail and automobile industry as it makes inventory management very convenient and hassle-free. The use of RFID in the healthcare sector is also gaining popularity. Time and precision have a very prominent significance in the healthcare sector as it deals with human lives. When human lives are at stake, the availability of instantaneous data at hand is very vital. RFID systems can make all the data available to the healthcare providers when it matters the most. The increasing demand for RFID in healthcare can be attributed to the low cost and high effectiveness of these systems. The RFID tag is the most important factor that makes the RFID system popular among the players operating in the healthcare sector.

Global RFID in Healthcare Market

The RFID technology has the capability to save money and time of the healthcare organizations. The ability of RFID in providing real-time identification, traceability, communication, location, and temperature data for individuals and resources can be very beneficial. The implementation of RFID technology in hospitals and clinics can decrease inaccuracies in patient care, simplify patient and equipment tracking, enable better healthcare asset management, and improve audit processes. 

Factors such as inventory management enhancement in pharmacies, hospitals, and biotech companies, high accuracy and low-cost of RFID systems, growing automation of processes in pharmacies and hospitals, increasing concern regarding drug safety, rising need for reduction of healthcare operational costs, need for prevention of medical device theft, multiple government initiatives, and wide application range of RFID in healthcare will act as driving factors in the growth of global RFID in healthcare market. Research activities are undertaken by not for profit organizations intended for the development of new and improved technologies and increasing adoption of RFID in healthcare will act as an opportunity for the market players in the RFID in healthcare market. However, the absence of awareness regarding RFID, lack of barcode systems, and absence of standardization will restrict the growth of global RFID in healthcare market.

The global RFID in healthcare market has been segmented into components, application, end user, and region. The components segment has been divided into readers, tags, printers, and cabinets. Tagssub-segment holds the majority share in the components segment due to its high penetration across myriad sectors. Based on application, RFID in healthcare market has been segmented into the supply chain and medical report, samples and blood transfer tracking, people identification and tracking, medicine tracking, and equipment tracking. Samples and blood transfer tracking sub-segment holds the majority share of the application segment due to the growing requirement of blood products inventory management. Based on the end user, RFID in healthcare market has been segmented into hospitals, biotechnology companies, and pharmaceutical companies.

North America will be the leading region during the forecast period. Increasing collaborations in the medical device industry, intensive research and developments activities conducted by not for profit organizations, and the presence of advanced healthcare infrastructure will boost the RFID in healthcare market growth in this region. Europe will be the second largest market. The major reasons for the regional growth can be attributed to high operational efficiency in healthcare, initiatives taken by the governments, and increasing demand for reduction in costs. Asia Pacific market will propagate at a speedy rate over the forecast period. Availability of services such as original equipment manufacturing (OEM) in China at reasonable costs and increasing adoption of RFID systems in the region will lift the RFID in healthcare market growth in this region. Latin America market will grow at a modest rate during the forecast period. Africa and the Middle Eastern countries are expected to experience noticeable growth in the near future.

Some of the key players in the RFID in healthcare market include Hitachi, Ltd, 3M, AdvantaPure, IBM, Aaid Security Solutions Inc., Siemens, Motorola, Alvin Systems, BearingPoint, American RFID Solutions, and ACC Systems Inc.among others.

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