Healthcare RFID Market is estimated to be US$ 5.90 billion by 2030 with a CAGR of 13.3% By – PMI

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 The report “Healthcare RFID Market, By Type, Frequency, By Label type, By End-Use – Trends, Analysis and Forecast till 2029’’.Healthcare RFID (Radio Frequency Identification) Market is a rapidly growing industry that utilizes RFID technology to improve patient safety, increase efficiency, and reduce costs in the healthcare sector. RFID technology uses radio waves to identify and track objects or people, and in healthcare, it is primarily used to track medical equipment, supplies, and patient information. The healthcare industry is constantly looking for ways to improve patient safety and reduce medical errors. The use of RFID technology in healthcare has proven to be an effective way to achieve these goals. RFID technology is used to track medical equipment and supplies, ensuring that they are properly sterilized and reducing the risk of infections. It is also used to track patient information and medical records, reducing the need for manual data entry and improving the accuracy of patient records.

Key Questions:

  1. What is the future outlook for the healthcare RFID market?
  2. The future outlook for the healthcare RFID (Radio Frequency Identification) market is promising, with continued growth expected in the coming years. The market is expected to expand as more healthcare providers adopt RFID technology to improve patient safety, increase efficiency, and reduce costs.
  3. How is government regulation and policy impacting the Healthcare RFID Market?
  4. Government regulation and policy are playing an important role in shaping the healthcare RFID (Radio Frequency Identification) market. Governments around the world are increasingly focusing on patient safety, quality of care, and cost reduction in healthcare, and RFID technology is seen as a key enabler of these goals. As a result, governments are taking steps to encourage the adoption of RFID technology in healthcare, while also ensuring that the technology is used in a safe and secure manner.
  5. What are the different types of RFID technology used in healthcare?
  6. There are several types of RFID (Radio Frequency Identification) technology used in healthcare, each with its own specific features and applications. The main types of RFID technology used in healthcare are: Passive RFID, Active RFID, Real-time location systems (RTLS), NFC (Near Field Communication), UHF (Ultra-High Frequency). Each type of RFID technology has its own specific benefits and limitations, and the choice of technology will depend on the specific needs and requirements of the healthcare provider.

Key Market Insights from the report:

Healthcare RFID Market accounted for US$ 1.72 billion in 2020 and is estimated to be US$ 5.90 billion by 2030 and is anticipated to register a CAGR of 13.3%. Global Healthcare RFID market is segmented into product type, label type, end-use and region.

Based on Type, the Global Healthcare RFID Market is segmented into Active RFID and Passive RFID), Frequency (Low Frequency, High Frequency & near Field Communication, Ultra Frequency, and Active Ultra-High Frequency).

  • Based on Label Type, the Global Healthcare RFID Market is segmented into Plastic, Paper, Glass, and Metal.
  • Based on End-use, the Global Healthcare RFID Market is segmented into Agriculture, Healthcare, Transportation & Logistics Commercial, Sports, Contactless Cards, and Security & Access Control.
  • By Region, the Global Healthcare RFID Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is dominating target market owing to increasing number of collaboration in the medical device industry.

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Key Highlights:

  • In October 2021, AmerisourceBergen, a global healthcare firm, announced upgrades to its medication tray solution in an effort to advance inventory management solutions for acute care settings across the United States.
  • In August 2021, Tageos Introduces the World’s Smallest RFID Inlay For Healthcare & Pharmaceutical Applications

Analyst View:

The adoption of RFID technology in healthcare businesses is projected to be boosted by the high operational costs associated with the industry. RFID tags make it easier for surgical staff to track medical devices in operating rooms, which improves patient safety. RFID use is predicted to grow in response to a growing demand for lower operational expenses. In addition, non-profit organizations are doing a slew of research projects aimed at developing new technologies to bolster RFID in healthcare. The growing demand for patient monitoring, as well as government obligations to improve safety, are all contributing to the development.

Increase in demand for RFID

 The market for RFID in healthcare is being driven by an increase in demand for RFID in the healthcare sector to improve operational efficiency, growing concerns about drug counterfeiting and safety, government initiatives, the growing need to reduce operational costs in healthcare, and an increase in the incidence of medical device theft cases. Furthermore, the market for RFID in healthcare is being driven by a huge range of applications. However, a lack of understanding of RFID, a large installed base of barcode systems, and a lack of standardization are all factors limiting the worldwide RFID in healthcare market’s growth. Growing demographics and economies in the developing countries such as China and India and low cost of RFID component such as original equipment manufacturing (OEM) services provided by China are expected to offer good opportunities in RFID in healthcare market in Asia. In addition, broader application of RFID technology in healthcare and rise in need for innovation in RFID technologies are expected to offer new opportunities for global RFID in healthcare market.

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Competitive Landscape & their strategies of Global Healthcare RFID Market: 

The key players in the Healthcare RFID Market includes;

  • Avery Dennison Corporation
  • Alien Technology LLC
  • Allflex USA, Inc.
  • Applied Wireless Identifications Group, Inc.
  • Honeywell International, Inc.
  • GAO RFID, Inc.
  • Impinj Inc.
  • Mobile Aspects, Inc.
  • RF Technologies
  • Radianse, Inc.

Scope of Report:

Healthcare RFID Market, By Product Type, 2020 – 2030, (US$ Bn)

    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Active RFID and Passive RFID
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
    • Frequency
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
  1. Global Healthcare RFID Market, By Label Type, 2020 – 2030, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Plastic
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
    • Paper
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
    • Colorectal Cancer
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
    • Glass
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
    • Metal
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
  1. Global Healthcare RFID Market, By End-User, 2020 – 2030, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Agriculture
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
    • Healthcare
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
    • Transportation & Logistics Commercial
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
    • Sports
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
    • Contactless Card
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
    • Security & Access Control
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030

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