Precedence Research recently published a report on “RFID in Healthcare Market (By Product: Systems & Software and Tags; End-User: Asset Tracking, Pharmaceutical Tracking, Patient Tracking, Blood Tracking, Others) – Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 – 2027”. Amid the COVID-19 crisis, the global RFID in Healthcare market size is projected to reach USD 12 billion by 2027, at a CAGR of 21% during the forecast period 2020 – 2027.
The market revenue/volume with the help of widespread quantitative and qualitative insights, and forecasts of the market. This report presents breakdown of market into forthcoming and niche segments. Additionally, this research study gauges market revenue growth and its drift at global, regional, and country from 2016 to 2027. This research report evaluates RFID in Healthcare market on a global and regional level. It offers thorough analysis of market status, growth and forecast of the global RFID in Healthcare market for the period from 2016 to 2027. This research study offers historic data for years 2016 to 2027 along with a forecast from 2020 to 2027 based on value.
Radio Frequency Identification or RFID is the next generation technology for data-collection and tracking and has effectively been employed in numerous sectors such as retail, manufacturing, and logistics. RFID technology is also viewed as the next revolution in healthcare sector and signifies numerous prospects for improved safety, cost savings and operational effectiveness by means of tagging assets, inventory, personnel, and patients. The application of RFID presents many paybacks to the healthcare sector linked to patient tracking, safety, proficiencies in patient care, and satisfaction. As the cost of RFID technology is presenting a continual downfall, its requirement has been widely growing in both government and private hospitals.
Scope of the Study
This market report studies market dynamics, status and outlook especially in North America, Europe and Asia-Pacific, Latin America, Middle East and Africa. This research report offers scenario and forecast (revenue/volume), and categorizes market by players, product, application, and region. This report also studies global market prominence, competitive landscape, market share, growth rate market dynamics such as drivers, restraints and opportunities, and distributors and sales channel.
This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers competitive scenario which comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.
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Growth Factors
RFID technology in healthcare sector is anticipated to observe a remarkable growth in during years to come. Improvement of inventory management system within hospitals, pharmacies, and biotechnology firms and augmented focus for patient safety are together driving market growth. Further, high efficiency of the RFID systems, intensifying population of cancer patients, and implementation of automated process in pharmacies and hospitals are likely to offer push to the market demand during near future. RFID technology gives rise to improved communication, adequate patient monitoring, patient identification, along with patient tracking. This aids in lessening medication errors and uplift safety.
Consequently, the rising requirement for patient monitoring and directives to lift safety subsidize to market growth. Further, progress of the market is bolstered by the cumulative implementation of RFID in manufacturing units for productivity enhancement, and augmented applications of access control application are accelerating demand. Also snowballing government initiatives, high implementation of RFID technology in retail sector and expansion in the RFID ecosystem over organic growth strategies like partnerships and mergers are flourishing market demand.
However, issues in the development of the healthcare RFID market are great installation cost of RFID systems in healthcare and systems interoperability. RFID acceptance in any industry needs huge investment for readers, tags, software, electricity and running replacement services. Further additional features like IoT integration, accuracy checking of system, and training charges increases expenses for RFID solution.
Report Highlights
Regional Snapshots
North America is expected to grab the largest chunk of the healthcare RFID market in terms of market size. The players in this region are stressing on research and development happenings, to ease operational competence via advanced technologies. Besides, the implementation of RFID technologies and a noteworthy number of recognized players in the region are flourishing the growth of RFID tags in the North America. Further, regional market benefits from promising government backing in terms of funding and the rigorous support of for the development of healthcare sector. Increasing number of alliances in the medical device sector, research by non-profits firms and existence of sophisticated healthcare infrastructure subsidize to the governance of North America in the global healthcare RFID market.
Asia Pacific is likely to record the firmest growth throughout the estimate period. This high progress is credited to the enlightening healthcare infrastructure in China, India, and Japan. Additionally, mounting concern for patient safety, tracking expensive medical devices, and hospital up-gradation is expected to push the market development in the region.
Key Players:
This report also provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the RFID in Healthcare market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.
Some of the prominent players in the RFID in Healthcare market include:
Segments Covered in the Report
This research report includes complete assessment of the market with the help of extensive qualitative and quantitative insights, and projections regarding the market. This report offers breakdown of market into prospective and niche sectors. Further, this research study calculates market revenue and its growth trend at global, regional, and country from 2016 to 2027. This report includes market segmentation and its revenue estimation by classifying it on the basis of product, application and region as follows:
By Product
By Application
By Regional Outlook
Key Takeaways
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global RFID in Healthcare Market, By Product
7.1. RFID in Healthcare Market, by Product Type, 2020-2027
7.1.1. Tags
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Systems & Software
7.1.2.1. Market Revenue and Forecast (2016-2027)
Chapter 8. Global RFID in Healthcare Market, By Application
8.1. RFID in Healthcare Market, by Application, 2020-2027
8.1.1. Pharmaceutical Tracking
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Asset Tracking
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Patient Tracking
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.4. Blood Tracking
8.1.4.1. Market Revenue and Forecast (2016-2027)
8.1.5. Others
8.1.5.1. Market Revenue and Forecast (2016-2027)
Chapter 9. Global RFID in Healthcare Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Product (2016-2027)
9.1.2. Market Revenue and Forecast, by Application (2016-2027)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.1.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.1.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Product (2016-2027)
9.2.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Product (2016-2027)
9.3.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Product (2016-2027)
9.4.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Product (2016-2027)
9.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Product (2016-2027)
9.5.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Product (2016-2027)
9.5.4.2. Market Revenue and Forecast, by Application (2016-2027)
Chapter 10. Company Profiles
10.1. CenTrak
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. metraTec GmbH
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. SpaceCode
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Zebra Technologies Corporation
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. Impinj
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Biolog-id
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Terso Solutions
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Tagsys RFID
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Carinal Health
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. Mobile Aspects
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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