The global RFID in Healthcare Market is expected to reach USD 12.89 Billion by 2027, according to a new report by Emergen Research. Some of the growth drivers of the market include growing emphasis on reducing operating costs and streamlining the process, demand for effective supply chain management, and improving care quality and performance.

Using RFID technology allows for improved communication, effective patient monitoring, patient recognition, and tracking of patients. 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.

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Key Highlights From The Report

• Increased use of tags is expected to boost the market during the projected period for monitoring various properties, patients, staff, drug products, and supported blood. The segment held a market share of 62.2% in the year 2019.
• 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.
• 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.

RFID in Healthcare Market Segmentation:

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

Regional Analysis of the RFID in Healthcare Market:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Full Coverage of the Report:

• The authors of this report have performed qualitative and quantitative assessments of the global RFID in Healthcare industry and further conducted market estimation for the forecast years of 2020-2027.
• The report assesses the global RFID in Healthcare market in detail, focusing on the technological advancements, various industry verticals, distribution channels, diverse product types, and the broad application outlook.
• A wide-ranging analysis of the global RFID in Healthcare market’s geographical scenario is an integral part of the report.
• In the conclusive section, the report discusses the company profiles of the key market players at length. This section takes a closer look at the financial positions, recent trends and developments, product offerings, and business expansion tactics of the market contenders.

Table Of Content:

Chapter 1. Methodology & Sources
    1.1. Market Definition
    1.2. Research Scope
    1.3. Methodology
    1.4. Research Sources
          1.4.1. Primary
          1.4.2. Secondary
          1.4.3. Paid Sources
    1.5. Market Estimation Technique
Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. RFID in Healthcare Market Segmentation & Impact Analysis
    4.1. RFID in Healthcare Market Material Segmentation Analysis
    4.2. Industrial Outlook
          4.2.1. Market indicators analysis
          4.2.2. Market drivers analysis
                    4.2.2.1. Rising requirement for reducing operating costs
                    4.2.2.2. Adoption of Radio-frequency Identification (RFID) in healthcare
                    4.2.2.3. Recent technological advancement
                    4.2.2.4. Improving healthcare infrastructure in emerging economies
                    4.2.2.5. Mandates for increasing patient safety
          4.2.3. Market restraints analysis
                    4.2.3.1. Industry Challenges
                    4.2.3.2. Lack of skilled labor during COVID-19
    4.3. Technological Insights
    4.4. Regulatory Framework
    4.5. Porter’s Five Forces Analysis
    4.6. Competitive Metric Space Analysis
    4.7. Price trend Analysis
    4.8. Covid-19 Impact Analysis

READ MORE…!

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