The healthcare rfid global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Healthcare RFID Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The healthcare rfid market size has grown rapidly in recent years. It will grow from $2.95 billion in 2023 to $3.46 billion in 2024 at a compound annual growth rate (CAGR) of 17.1%. The growth in the historic period can be attributed to reduction of medication errors, enhanced patient experience, streamlined supply chain processes, inventory management optimization, enhanced workflow automation..
The healthcare rfid market size is expected to see rapid growth in the next few years. It will grow to $6.76 billion in 2028 at a compound annual growth rate (CAGR) of 18.3%. The growth in the forecast period can be attributed to integration with electronic health records, expansion of rfid in laboratory settings, telehealth and remote patient monitoring, customization of rfid solutions.. Major trends in the forecast period include integration with emerging technologies, expansion of rfid in patient tracking, wearable rfid technology, real-time location systems , cloud-based rfid solutions..
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Scope Of Healthcare RFID Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increasing stringent regulations in the pharmaceutical sector are significantly driving the growth of the healthcare RFID market. Governments and other regulatory bodies across various countries have started implementing stringent measures in the pharmaceutical sector to minimize counterfeiting problems and other medical-related issues. For example, In June 2023, the government of Germany announced the Health Data Use Act (GDNG) and a draft Digital Act (DigiG). The Health Data Use Act plans to grant industry companies access to the right to patient health data for research purposes. This will help healthcare RFID market by allowing companies to use RFID tags to track patient health data and secure the data from hackers. The data collected from RFID tags can be used for research purposes.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The healthcare rfid market covered in this report is segmented –
1) By Product: Tags and Labels, RFID Systems
2) By End-User: Hospitals, Pharmaceuticals, Research Institutions and Laboratories, Other End Users
3) By Application: Asset Tracking, Patient Tracking, Pharmaceutical Tracking, Blood Tracking, Other Applications
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Regional Insights –
North America was the largest region in the healthcare RFID market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare rfid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the healthcare rfid market report are Impinj Inc., Alien Technology Corporation, GAO RFID Inc., Honeywell International Inc., STANLEY Healthcare Pvt. Ltd., Mobile Aspects India Private Limited, RF Technologies Inc., STiD SAS, Terso Solutions Inc., Radianse Inc., CCL Industries Inc., CenTrak Inc., Cardinal Health Inc., LogiTag Systems Ltd., Biolog-id SAS, metraTec GmbH, TAGSYS RFID, Zebra Technologies Corporation, Smartrac N. V., S3Edge Inc., Champion Healthcare Technologies, SpaceCode Pty. Ltd., Pepperl-Fuchs Pvt. Ltd., Hurst Green Ltd., PALEX MEDICAL S. A., Applied Wireless Identifications Group Inc., CAEN RFID S. r. l., Invengo Information Technology Ltd. Co., Motorola Solutions Inc., Solisitice Medicine Company, Avery Dennison Corporation, Bartronics India Ltd., Intermec Inc.
Table of Contents
1. Executive Summary
2. Healthcare RFID Market Report Structure
3. Healthcare RFID Market Trends And Strategies
4. Healthcare RFID Market – Macro Economic Scenario
5. Healthcare RFID Market Size And Growth
…..
27. Healthcare RFID Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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