Dublin, June 24, 2019 (GLOBE NEWSWIRE) -- The "The World Market for RFID in Healthcare to 2025" report has been added to ResearchAndMarkets.com's offering.
The global RFID in healthcare market size is expected to reach USD 10.65 Billion by 2025, according to this report. It is projected to expand at a CAGR of 22.4% during the forecast period.
Some of the key contributors to the growth include rising focus on reducing operational costs and streamline the workflow, demand for efficient supply chain management, and need to improve the quality and efficiency of care.
High operational costs associated with the healthcare industry is expected to boost the adoption of RFID technology in healthcare organizations. Pharmaceutical companies, medical device manufacturers, hospitals, and various other healthcare organizations integrate this technology to control inventory costs.
RFID technology enables these organizations in efficient inventory management and help avoid stock out and overstock situations. RFID tags enable the surgical staff in easy tracking of medical devices used in operation theatres, thereby improving patient safety. Growing requirement for reduction in operating costs is expected to drive the increase in adoption of RFID. This technology is also used in laboratories, blood banks, and pathology labs for efficient product tracking and better workflow management.
The use of RFID technology enables better communication, adequate patient monitoring, patient identification, and patient tracking. This method aids in decreasing medication errors and increases safety. The rising need for patient monitoring and mandates for increasing safety are also contributing to the growth. Patient tracking across different hospital sections using this technology helps reduce waiting times and is thus gaining significance in hospitals.
Further key findings from the report suggest:
- RFID tags product segment held majority of the market share in 2018 due to rising awareness regarding the benefits of these devices.
- Increasing use of tags for tracking various assets, patients, staff, pharmaceuticals, and donated blood is expected to boost the market during the forecast period.
- Pharmaceutical tracking application segment held the largest market share in 2018, owing to rising needs to identify counterfeit drugs and demand for inventory management.
- North America led the global market owing to increasing number of hospitals and presence of regulations on patient safety
- Asia Pacific is anticipated to witness the fastest CAGR owing to the presence of a large pharmaceutical industry requiring this technology for process streamlining.
- Some of the key players operating in the RFID in healthcare market include LogiTag, CenTrak, SpaceCode, Impinj, Zebra Technologies Corporation, Biolog-id, Terso Solutions, Carinal Health, Mobile Aspects, Tagsys RFID, Pepperl+Fuchs, and metraTec GmbH.
Key Topics Covered
Chapter 1. Methodology and Scope
1.1. Market segmentation & scope
1.2. Market definition
1.3. Information procurement
1.3.1. Purchased database
1.3.2. Internal database
1.3.3. Secondary sources & third party perspectives
1.3.4. Primary research
1.4. Information analysis
1.4.1. Data analysis models
1.5. Market formulation & data visualization
1.6. Data validation & publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. RFID in Healthcare Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Ancillary market outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Product Pipeline Analysis, by Stage
3.4. Industry Analysis
3.4.1. User perspective analysis
3.4.2. List of key end-users, by product
3.5. Regulatory Framework
3.5.1. Reimbursement framework
3.5.2. Standards & compliance
3.6. Market Dynamics
3.6.1. Market driver analysis
3.6.2. Market restraint analysis
3.6.3. Industry challenges
3.7. RFID in Healthcare Market Analysis Tools
3.7.1. Industry analysis - Porters
3.7.2. PESTEL analysis
3.7.3. Major deals & strategic alliances analysis
3.7.4. Market entry strategies
Chapter 4. RFID in Healthcare Market - Competitive Analysis
4.1. Recent Developments & Impact Analysis, By Key Market Participants
4.2. Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
4.3. Vendor Landscape
4.3.1. List of key distributors and channel partners
4.3.2. Key customers
4.3.3. Key company market share analysis, 2018
4.4. Public Companies
4.4.1. Company market position analysis (Revenue, geographic presence, product portfolio, key serviceable industries, key alliances)
4.4.2. Company market share/ranking, by region
4.4.3. Competitive dashboard analysis
4.5. Private Companies
4.5.1. List of key emerging companies' /technology disruptors/innovators
4.5.2. Funding Outlook
4.5.3. Regional network map
4.5.4. Company market position analysis (geographic presence, product portfolio, key alliance, industry experience)
4.5.5. Supplier Ranking
Chapter 5. RFID in Healthcare Market: Product Market Estimates & Trend Analysis
5.1. Definitions & Scope
5.2. Product Market Share Analysis, 2018 & 2025
5.3. Segment Dashboard
5.4. Global RFID in Healthcare Market, by Product, 2014 to 2025
5.5. Market Size & Forecasts and Trend Analysis, 2014 to 2025, USD Million
5.5.1. Systems & Software
5.5.2. Tags
Chapter 6. RFID in Healthcare Market: Application Market Estimates & Trend Analysis
6.1. Definitions & Scope
6.2. Application Market Share Analysis, 2018 & 2025
6.3. Segment Dashboard
6.4. Global RFID in Healthcare Market, by Application, 2014 to 2025
6.5. Market Size & Forecasts and Trend Analysis, 2014 to 2025, USD Million
6.5.1. Asset tracking
6.5.2. Patient tracking
6.5.3. Pharmaceutical tracking
6.5.4. Blood tracking
6.5.5. Others
Chapter 7. RFID in Healthcare Market: Regional Estimates, by Product, & Application
7.1. Regional Market Snapshot (Market Size, CAGR, Top Verticals, Key Players, Top Trends)
7.2. SWOT Analysis, by Factor (Political & Legal, Economic And Technological)
7.2.1. North America
7.2.2. Europe
7.2.3. Asia Pacific
7.2.4. Latin America
7.2.5. Middle East & Africa
7.3. Market Size, & Forecasts, and Trend Analysis, by Product and Application, 2014 to 2025, USD Million:
7.3.1. North America
7.3.2. Europe
7.3.3. Asia Pacific
7.3.4. South America
7.3.5. Middle East
Chapter 8. Competitive Landscape
8.1. Company Profiles
8.1.1. Logi-Tag Systems
8.1.2. Terso Solutions
8.1.3. Cardinal Health
8.1.4. Hurst Green Plastics Ltd.
8.1.5. Tagsys (Invengo Technology Pte. Ltd.)
8.1.6. CenTrak (Halma PLC)
8.1.7. Zebra Technologies Corporation
8.1.8. Impinj Inc.
8.1.9. Sato Vicinity Pty. Ltd.
8.1.10. MetraTec GmbH
8.1.11. Palex Medical S.A.
8.1.12. BIOLOG-ID
8.1.13. Spacecode
8.1.14. Grifols
8.1.15. Pepperl+Fuchs
8.1.16. Mobile Aspects
8.2. List of Other Players
For more information about this report visit https://www.researchandmarkets.com/r/42diq7