COVID-19 Impact on RFID in Healthcare Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2028

Radiofrequency identification (RFID) is used for patient monitoring, efficiencies in patient care, tracking, and provider satisfaction.

RFID is a wireless system that exploits radio waves for collecting data from a tag attached to an object, for several purposes such as automatic identification, and tracking of objects.Get free sample copy @ https://www.marketresearchfuture.com/sample_request/7580The rising concerns about inventory management, awareness about patient safety, and increasing acceptance of automation in the healthcare sector are the major factors driving the growth of the global healthcare RFID market.

Additionally, aggressive strategies adopted by the top players and the introduction of new products in the market are fueling the growth of the market during the forecast period.

For instance, Alien Technology Corporation, a leader in RFID technology introduced RFID Reader with the ALR-F800-X, the product is known for its use in maintaining the workflow and efficiently handling the data.

Also, the company is trying to expand its geographical boundaries by signing distribution agreements.Market key PlayersSome of the key players in the global healthcare RFID market are Alien Technology Corporation, Applied Wireless Identifications Group, Inc., CAEN RFID S.r.l., Gao RFID, Inc., Honeywell International Inc., Impinj Inc., Invengo Information Technology Ltd. Co., Mobile Aspects, Inc., Motorola Solutions, Inc., Radianse, RF Technologies, Stanley Healthcare, and STiD RFIDSegmentationThe global healthcare RFID market has been segmented on the basis of component, application, end user, and region.On the basis of component, the market has been segmented into tags, readers, middleware, printers, and others.

The reader segment is further segmented into active reader and passive reader.The global healthcare RFID market, by application, has been segmented into equipment tracking, people identification and tracking, medical report and blood samples tracking medicine tracking, and others.On the basis of end user, the market has been classified as pharmaceutical and biotechnology companies, hospitals, research institutes, and others.Regional AnalysisThe market is likely to dominate by Americas during the forecast period owing to the increasing prevalence of cancer patients, increasing cases of drug counterfeiting, and well-established healthcare sector in the region.

Healthcare RFID Market: Information By Component (Tags, Readers, Middleware, Printers), Application (Equipment Tracking, Medicine Tracking, Others), End-User (Pharmaceutical and Biotechnology Companies, Hospitals, Others) — Global Forecast till 2027 Healthcare RFID Market HighlightsRadio frequency identification (RFID) solutions in the healthcare sector are an asset favored by major organizations due to their ability in saving time and money.

The global healthcare RFID market report by Market Research Future (MRFR) pinpoints pertinent growth drivers and challenges faced for the period of 2018 to 2023 with a suitable pulse on the latest trends.Market OutlookThe global healthcare RFID market is expected to exhibit a CAGR of 23.37% from 2018 to 2023 (forecast period).

The focus of hospitals in providing quality patient care as well as improvements of the inventory management system in pharmacies, hospitals, and biotechnology companies is expected to fuel market growth.

This would prove to be a boon in reducing the overhead costs of healthcare organizations.

The use of RFID in reducing patient errors, tracking of patients and equipment, and better tracking of assets are other drivers which can bolster the demand of the healthcare RFID market.Lack of awareness of RFID systems, technical bugs, and high costs of installation are certain challenges which may pose a challenge to the market.Request Free Sample Copy at:https://www.marketresearchfuture.com/sample_request/7580Segmentation AnalysisThe global healthcare RFID market is segmented by component, application, and end-use.By component, it is segmented into tags, readers, middleware, printers, and others.

The tags segment can dominate during the forecast period due to its application in pharmaceutical tracking, asset tracking, and patient tracking.By application, it is segmented into medicine tracking, equipment tracking, people identification and tracking, medical report and blood samples tracking, and others.By end-use, it is segmented into research institutes, pharmaceutical and biotechnology companies, hospitals, and others.

Healthcare RFID Market: Information By Component (Tags, Readers, Middleware, Printers), Application (Equipment Tracking, Medicine Tracking, Others), End-User (Pharmaceutical and Biotechnology Companies, Hospitals, Others) — Global Forecast till 2027Radio frequency identification (RFID) solutions in the healthcare sector are an asset favored by major organizations due to their ability in saving time and money.

The global healthcare RFID market report by Market Research Future (MRFR) pinpoints pertinent growth drivers and challenges faced for the period of 2018 to 2023 with a suitable pulse on the latest trends.Market OutlookThe global healthcare RFID market is expected to exhibit a CAGR of 23.37% from 2018 to 2023 (forecast period).

The focus of hospitals in providing quality patient care as well as improvements of the inventory management system in pharmacies, hospitals, and biotechnology companies is expected to fuel market growth.

This would prove to be a boon in reducing the overhead costs of healthcare organizations.

The use of RFID in reducing patient errors, tracking of patients and equipment, and better tracking of assets are other drivers which can bolster the demand of the healthcare RFID market.Lack of awareness of RFID systems, technical bugs, and high costs of installation are certain challenges which may pose a challenge to the market.Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/7580 Segmentation AnalysisThe global healthcare RFID market is segmented by component, application, and end-use.By component, it is segmented into tags, readers, middleware, printers, and others.

The tags segment can dominate during the forecast period due to its application in pharmaceutical tracking, asset tracking, and patient tracking.By application, it is segmented into medicine tracking, equipment tracking, people identification and tracking, medical report and blood samples tracking, and others.By end-use, it is segmented into research institutes, pharmaceutical and biotechnology companies, hospitals, and others.

Healthcare RFID Market: Information By Component (Tags, Readers, Middleware, Printers), Application (Equipment Tracking, Medicine Tracking, Others), End-User (Pharmaceutical and Biotechnology Companies, Hospitals, Others) — Global Forecast till 2023Market HighlightsRadiofrequency identification (RFID) is used for patient monitoring, efficiencies in patient care, tracking, and provider satisfaction.

RFID is a wireless system that exploits radio waves for collecting data from a tag attached to an object, for several purposes such as automatic identification, and tracking of objects.Avail a Free Sample@ https://www.medgadget.com/2020/02/healthcare-rfid-market-technology-helps-to-enables-better-communication-adequate-patient-monitoring-patient-identification-and-patient-tracking.html he rising concerns about inventory management, awareness about patient safety, and increasing acceptance of automation in the healthcare sector are the major factors driving the growth of the global healthcare RFID market.

Additionally, aggressive strategies adopted by the top players and the introduction of new products in the market are fueling the growth of the market during the forecast period.

For instance, Alien Technology Corporation, a leader in RFID technology introduced RFID Reader with the ALR-F800-X, the product is known for its use in maintaining the workflow and efficiently handling the data.

Also, the company is trying to expand its geographical boundaries by signing distribution agreements.The high costs associated with the RFID products and lack of awareness about the RFID in developing countries are likely to hinder market growth during the forecast period.Regional AnalysisThe market is likely to dominate by Americas during the forecast period owing to the increasing prevalence of cancer patients, increasing cases of drug counterfeiting, and well-established healthcare sector in the region.

The European market is expected to be the second-largest due to government funding and support of the healthcare sector, raising awareness about the innovative technologies, and improvement in the healthcare sector with respect to infrastructure and facilities.

Global RFID in healthcare market was valued at USD 646.7 million in 2014 and is expected to reach over USD 3.89 billion over the next seven years.

Key influences attributing to this rapid growth include growing occurrences of theft and loss of different medical devices which result in high losses to the pharmacies and hospitals.

Healthcare services use radio frequency identification (RFID) and real-time location systems (RTLS) to track, identify, monitor patients, locate, visitors, assets, equipment and staff.

Know that, how of these technologies aid in improving safety, enhancing the quality of care, reducing financial waste, and fostering patient satisfaction.The healthcare market is majorly driven by the cheap availability of highly efficient systems and tags.

As a result, storage costs are reduced substantially subsequently decreasing energy costs as well.Implementation of advanced Kanban systems in existing hospital inventory management and timely placement of orders to the supplier directly for requisite medical devices and medication is expected to encourage hospitals and pharmacies to incorporate these systems.

Key factors contributing to this large share includes high penetration of these devices in the market owing to better awareness levels regarding the advantages of RFID devices such as their ability to embed into existing hospital ERP software systems and reduction in overall operational costs.

RFID in Healthcare Market was valued at USD 646.7 million in 2014 and is expected to reach over USD 3.89 billion over the next seven years.

Healthcare services use radio frequency identification (RFID) and real-time location systems (RTLS) to track, identify, monitor patients, locate, visitors, assets, equipment and staff.

Request a Sample PDF Copy of This Report @ https://www.millioninsights.com/industry-reports/rfid-in-healthcare-market/request-sample Market Synopsis of RFID in Healthcare Market:  The healthcare market is majorly driven by the cheap availability of highly efficient systems and tags.

Improper storage systems and careless handling in pharmaceutical stores have led to rising number of stock outs and expiration of medicines.

As a result, storage costs are reduced substantially subsequently decreasing energy costs as well.

Implementation of advanced Kanban systems in existing hospital inventory management and timely placement of orders to the supplier directly for requisite medical devices and medication is expected to encourage hospitals and pharmacies to incorporate these systems.