Healthcare RFID Market, By Type (Active RFID and Passive RFID), Frequency (Low Frequency, High Frequency & Near Field Communication, Ultra Frequency, and Active Ultra-High Frequency), By Label type (Plastic, Paper, Glass, and Metal), By End-Use (Agriculture, Healthcare, Transportation & Logistics Commercial, Sports, Contactless Cards, and Security & Access Control), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030

Healthcare RFID Market accounted for USD 1.72 Billion in 2020 and is estimated to be USD 5.90 Billion by 2030 and is anticipated to register a CAGR of 13.3%

Radio-frequency identification (RFID) reads and captures information recorded on a tag affixed to an object using radio waves. This tag can be read from several feet away and does not require the reader to be in direct line of sight. RFID technology can be used in supply chain applications, patient safety applications, and quality assurance applications in the healthcare business. Patient tracking, surgery asset management, wait time monitoring, handwashing, asset management, parking, and medication authentication and control are all aided by RFID technologies in healthcare. Facilities management, access control, inventory management, laundry management, document and file monitoring, and trash management are all aided by these technologies. RFID tags, RFID readers, RFID cabinets, RFID middleware, and RFID printers are the various RFID components that can be found in the healthcare business.

RFID in the healthcare market can be divided into equipment tracking, medicine tracking, persons identification and tracking, supply chain and medical report, samples and blood transfer tracking, and supply chain and medical report. In hospitals and clinics, RFID can be used to enhance patient flow, eliminate medical errors, increase asset utilisation rates, and manage stocks and implants, among other things. Improvements in inventory management in hospitals, pharmacies, and biotechnology businesses, as well as increased patient safety, low-cost and high-efficacy RFID devices, and the adoption of automated processes in hospitals and pharmacies, are projected to drive growth of healthcare RFID market.

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.

Healthcare RFID market is segmented into product type, label type, end-use and region.

Based on Type, the 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 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.

Regional Insights:

On 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. The dominance of the North American healthcare RFID market is due to an increase in collaboration in the medical device industry, non-profit research, and the availability of advanced healthcare infrastructure. During the predicted period, Asia-Pacific is expected to expand the most. The improved healthcare infrastructure in India, China, and Japan is credited with this significant rise. Furthermore, increased concerns about tracking expensive medical gadgets, patient safety, and facility upgrades are expected to push the market in this area the fastest.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the Global Healthcare RFID Market report based on Product Type, Label Type, End-User and Region.

Global Healthcare RFID Market, By Region:

• North America
  • • • • U.S.
        • Canada
    • Europe
      • • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa

The key players in the global 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 and Radianse, Inc.

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