Radio Frequency Identification Devices in Healthcare Market, By Product (RFID Tags, RFID Readers, and RFID Printers), By Application (Tracking, and Monitoring), By End User (Pharmaceutical and Biotechnology Companies, and Hospitals), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast Till 2030.

Report Code: PMI417220 | Publish Date: April 2023 | No. of Pages: 160

Global Radio Frequency Identification Devices In Healthcare Market Overview

Radio-Frequency Identification (RFID) uses radio waves to read and capture information stored on a tag attached to an object.  This tag can be read from several feet distance and does not need to be within direct line-of-sight of the reader. In healthcare industry, RFID technology can be used in supply chain applications, patient safety, and in quality assurance applications.  RFID can be deployed in hospitals and clinics to improve patient flow, reduce medial errors, improve asset utilization rates, and mange inventories & implants, among others.

Global Radio Frequency Identification Devices In Healthcare Market Dynamics

 

Improvement of inventory management in hospitals, pharmacies, and biotechnology companies; improved patient safety by healthcare providers, low-cost and high efficacy of the RFID systems, and adoption of automated process in hospitals and pharmacies are expected to spur the growth of healthcare RFID during the forecast period. Furthermore, many research activities are being carried out by non-profit organizations for development of new technologies to reinforce RFID in healthcare.

The stricter government policy in quality assurance in the healthcare sector indirectly assists the RFID market and creates an opportunity for the new entrants in the market. For instance, the government of India released the National Health Policy (NHP) 2017 to serve as a guiding document for the policymakers in the achievement of India's national goals and international commitments. The capital requirements are moderate, making it competitive for the businesses to quit easily.

Even with such enormous growth, RFID technology in healthcare market is facing a number of challenges which include security and privacy concerns, large amount of initial installation costs and lack of skilled professionals.

The growing stringency in the pharmaceutical sector with regard to medicine labelling is creating growth opportunity for introduction of RFID.

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Global Radio Frequency Identification Devices In Healthcare Market Segmentation

The global radio frequency identification devices in healthcare market is segmented based on product, application, end user, and region.

On the basis of product, the global radio frequency identification devices in healthcare market is segmented into RFID tags, RFID readers, and RFID printers. Based on application, the target market is segmented into tracking, and monitoring.  Based on end user, the global market is classified into pharmaceutical and biotechnology companies, and hospitals.

Regional Insights:

On region the global radio frequency identification devices in healthcare market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America dominates the global market in terms of revenue and is projected to continue its dominance in the coming years, due to rising number of collaboration in the medical device industry, research by non-profits organizations and presence of sophisticated healthcare infrastructure. Asia-Pacific is expected to witness the highest growth during the forecast period. This high growth is attributed to the improving healthcare infrastructure in India, China, and Japan. Adding to this, rising concern to track expensive medical devices, patient safety, and up-gradation of hospitals is likely to drive the market fastest in this region.

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Attribute

Details

Base year for estimation

2019

Forecast period

2019 – 2029

Market representation

Revenue in USD Million & CAGR from 2019 to 2029

Market Segmentation

By Product - RFID Tags, RFID Readers, and RFID Printers

By Application – Tracking, and Monitoring

By End User - Pharmaceutical and Biotechnology Companies, and Hospitals

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

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 Radio Frequency Identification Devices in Healthcare market report based on product, application, end-user and region:

Global Radio Frequency Identification Devices in Healthcare Market, By Product:

  • RFID Tags
  • RFID Readers
  • RFID Printers

Global Radio Frequency Identification Devices in Healthcare Market, By Application:

  • Tracking
  • Monitoring

Global Radio Frequency Identification Devices in Healthcare Market, By End User:

  • Pharmaceutical and Biotechnology Companies
  • Hospitals

Global Radio Frequency Identification Devices in Healthcare 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

Global Radio Frequency Identification Devices In Healthcare Market Key Players

The key players operating the global radio frequency identification devices in healthcare market includes Alien Technology Corporation, Gao RFID, Inc., Honeywell International Inc., Impinj Inc., Mobile Aspects, Inc., RF Technologies, Radianse, STiD RFID, Solstice Medical, LLC, and Stanley Healthcare. Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market. For instance, in 2017, Impinj announced New Ultra-Small RAIN RFID Tag for Wearables and Healthcare. In June 2016, a blood bank at Liverpool Hospital (Sydney), adopted a RFID SpaceCode Smart Fridge which was designed to identify RFID-tagged blood products stored in it and to ensure that the blood bags are not used beyond prolonged time out of refrigeration. In addition, this software analyzes the duration of time the blood kept out of refrigeration and alerts the user if the time limit crosses 30 minutes.

Global Radio Frequency Identification Devices In Healthcare Market Company Profile

  • Alien Technology Corporation
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Gao RFID, Inc
  • Honeywell International Inc.
  • Impinj Inc.
  • Mobile Aspects, Inc.
  • RF Technologies
  • Radianse
  • STiD RFID
  • Solstice Medical, LLC
  • Stanley Healthcare

 “*” marked represents similar segmentation in other categories in the respective section

Global Radio Frequency Identification Devices In Healthcare Market Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Study Scope
    • Years Considered for the study
    • Assumptions
    • Abbreviations
  2. Research Methodology
    • Research data
    • Primary Data
      • Primary Interviews
      • Primary Breakdown
      • Key data from Primary Sources
      • Key Thickness Insights
    • Secondary Data
      • Major Secondary Sources
      • Secondary Sources
    • Market Estimation
    • Top-Down Approach
      • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
    • Bottom-Up Approach
      • Approach for estimating market share by Bottom-up Analysis (Demand Side)
    • Market Breakdown and Data Triangulation
    • Research Assumptions
  3. Market Purview
    • Executive Summary
    • Key Findings—Global Outlook for Radio Frequency Identification Devices in Healthcare Strategies
      • Key Questions this Study will Answer
      • Market Snippet, By Product
      • Market Snippet, By Application
      • Market Snippet, By End User
      • Market Snippet, By Region
    • Opportunity Map Analysis
    • Executive Summary—3 Big Predictions
  4. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Market Trends
    • DR Impact Analysis
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
  5. Global Radio Frequency Identification Devices in Healthcare Market, By Product, 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • RFID Tags
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • RFID Readers
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • RFID Printers
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  6. Global Radio Frequency Identification Devices in Healthcare Market, By Application, 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Tracking
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Monitoring
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  7. Global Radio Frequency Identification Devices in Healthcare Market, By End User, 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Pharmaceutical and Biotechnology Companies
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Hospitals
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  8. Global Radio Frequency Identification Devices in Healthcare Market, By Region, 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Mn), By Product, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By End User, 2020 – 2030
      • Market Radio Frequency Identification Devices in Healthcare and Forecast (US$ Mn), By Country, 2020 – 2030
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Mn), By Product, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By End User, 2020 – 2030
      • Market Radio Frequency Identification Devices in Healthcare and Forecast (US$ Mn), By Country, 2020 – 2030
        • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Mn), By Product, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By End User, 2020 – 2030
      • Market Radio Frequency Identification Devices in Healthcare and Forecast (US$ Mn), By Country, 2020 – 2030
        • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast (US$ Mn), By Product, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By End User, 2020 – 2030
      • Market Radio Frequency Identification Devices in Healthcare and Forecast (US$ Mn), By Country, 2020 – 2030
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Market Size and Forecast (US$ Mn), By Product, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By End User, 2020 – 2030
      • Market Radio Frequency Identification Devices in Healthcare and Forecast (US$ Mn), By Country, 2020 – 2030
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East
  9. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis
  10. Company Profiles
      • Alien Technology Corporation
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
        • Business Strategies
      • Gao RFID, Inc
      • Honeywell International Inc.
      • Impinj Inc.
      • Mobile Aspects, Inc.
      • RF Technologies
      • Radianse
      • STiD RFID
      • Solstice Medical, LLC
      • Stanley Healthcare
  11. The Last Word
    • Future Impact
    • About Us
    • Contact

FAQs

The radio frequency identification devices in healthcare market accounted for US$ 29.3 billion in 2020 and is projected to register a moderate CAGR of 13.10% over the forecast period

The market report has been segmented on the product, application, end user, and region.

Emerging trends include the integration of RFID in medication management, the use of RFID for patient tracking and monitoring, and advancements in RFID technology for improved healthcare supply chain management, presenting significant opportunities in the global RFID Devices in Healthcare Market.

Factors driving the market include the need for efficient asset and inventory tracking, advancements in RFID technology leading to cost-effective solutions, the emphasis on patient safety and compliance, and the growing adoption of digital health solutions in healthcare settings.

The report covers regions worldwide. North America is expected to dominate the RFID Devices in Healthcare Market, driven by a well-established healthcare infrastructure, high adoption of digital health technologies, and regulatory support for the implementation of RFID in healthcare. Other influential regions include Europe and Asia-Pacific.

The prominent player operating in the global radio frequency identification devices in healthcare market includes includes Alien Technology Corporation, Gao RFID, Inc., Honeywell International Inc., Impinj Inc., Mobile Aspects, Inc., RF Technologies, Radianse, STiD RFID, Solstice Medical, LLC, and Stanley Healthcare.