Global RFID in Healthcare Market to Grow at a (CAGR) of 21.5% during the Forecast Period 2022-2030

Sep-2022 | Pharmaceuticals & Healthcare

As specified in our exclusive report, the Global RFID in Healthcare Market is projected to reach USD 12.06 billion by 2030.

How RFID is Use in Healthcare Market?

RFID applications in healthcare have been positive. Although the technology has been widely integrated into many aspects of the healthcare sector, it has been called "the next disruptive innovation in healthcare". It can automate many processes, manage inventory, prevent counterfeit drugs, improve patient satisfaction, and more.

  1. Medicine and Pharmaceutical Tracking

Pharmaceuticals can be tracked and managed using RFID technology in hospitals. Medicines and surgical instruments are high-priced items. As a result, it is important for healthcare facilities to stock and keep track of these items.

  1. Patient Tracking and History Records

An RFID tag can be really useful; the patient has an RFID band attached to the wrist. If a patient has memory problems, they may wander or get lost in the hospital. Through the RFID wristband, the hospital can trace the exact whereabouts of the patient.

  1. Equipment Tracking

Tracking machines, equipment and vehicles is vital for hospitals. It not only informs them about the location of their vehicles, equipment, etc., but it also assists in the maintenance of the property.

The North America radio frequency identification (RFID) market in healthcare is projected to hold the largest market share in the global market. This is due to rising advancements in healthcare, increasing healthcare costs, and rapidly growing healthcare institutions in the region. Growth and advancement in the clinical laboratory and pharmaceutical industry are driving the RFID in healthcare market in the North America region.

Development of RFID in Healthcare Market:

May 2021: CAEN RFID S.R.L. Announced that all CAEN RFID readers are fully supported by the Nebula platform, which enables fast and direct implementation of RFID-based track and trace solutions. The Nebula platform takes care of all the RFID technology details so that customers can focus on the business-relevant aspects of the solution.

October 2021: AmerisourceBergen launches universal RFID-tagging and mobile app for its Acute Care Medicine Tray Solution.

Some of the key players in the RFID in the Healthcare Market are:

Alien Technology Corp., Awarepoint, Gao RFID, Honeywell Scanning and Mobility, Impinj Inc., LLC, Mobile Aspects, RF Technologies, Radianse, STiD RFID, Solstice Medical, Stanley Healthcare, Tagsys, Terso Solutions, Versus Technology, Vizbee RFID Systems, Zebra Technologies

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