According to the recent study the RFID in healthcare market is projected to reach an estimated $12.1 billion by 2028 from $5.7 billion in 2023, at a CAGR of 16.4% from 2023 to 2028. Growth in this market is primarily driven by increasing use of this technology for improved patient security and effective inventory management, growing adoption of automated processes in the healthcare sector, and expanding use of RFID by staffs to track essential items used in surgeries.
A more than 150 – page report is developed to understand trends, opportunities and forecast in RFID in healthcare market by product (systems & software and tags), application (asset tracking, patient tracking, pharmaceutical tracking, blood tracking, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
“Tags market is expected to remain the largest segment during the forecast period.”
Based on product, the RFID in healthcare market is segmented into systems & software and tags. Lucintel forecasts that the tags market is expected to remain the largest segment due to the substantial use of this technology to find any patient in a hospital, thus ensuring their safety and continuing the care process.
“Within the RFID in healthcare market, the pharmaceutical tracking segment is expected to remain the largest application”
Based on application the pharmaceutical tracking segment is expected to witness the highest growth over the forecast period due to the significant use of this monitoring technology to identify fake medications and growing demand for this device to manage inventories and minimize labeling mistakes.
“North America will dominate the RFID in healthcare market in near future”
North America will remain the largest region due to the existence of well-established healthcare infrastructure, increasing use of RFID to reduce risks of pharmaceutical mistakes, and an increase in the number of regulations pertaining to patient safety in the region.
Major players of RFID in healthcare market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Alien Technology, Zebra Technologies, Avery Dennison, Impinj, and GAO RFID are among the major RFID in healthcare providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]