Healthcare RFID Global Market Report 2024

Description

“Healthcare RFID Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on healthcare rfid market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for healthcare rfid? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The healthcare rfid market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Product: Tags and Labels; RFID Systems
2) By End-User: Hospitals; Pharmaceuticals; Research Institutions and Laboratories; Other End Users
3) By Application: Asset Tracking; Patient Tracking; Pharmaceutical Tracking; Blood Tracking; Other Applications
Companies Mentioned: Impinj Inc.; Alien Technology Corporation; GAO RFID Inc.; Honeywell International Inc.; STANLEY Healthcare Pvt. Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

The healthcare RFID is a form of wireless communication to transfer data from an electronic tag attached to an object to a reader. RFID helps reduce drug counterfeiting, streamline the clinical trial process, facilitate better identification accuracy, simplify inventory management, consolidate patient tracking, improve caregiver-patient communication, and eliminate the risk of giving the wrong medication.

The main types of healthcare RFID products are tags and labels and RFID systems. Tags and labels are the most common type of passive RFID tags. These are paper or plastic (usually vinyl) labels with an embedded RFID inlay. Healthcare RFIDs are mainly used by hospitals, pharmaceuticals, research institutions and laboratories, and other end-users. Major applications of Healthcare RFIDs are asset tracking, patient tracking, pharmaceutical tracking, blood tracking, and others.

The healthcare RFID market research report is one of a series of new reports from The Business Research Company that provides healthcare RFID market statistics, including healthcare RFID industry global market size, regional shares, competitors with a healthcare RFID market share, detailed healthcare RFID market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare RFID industry. This healthcare RFID market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The healthcare rfid market size has grown rapidly in recent years. It will grow from $2. 95 billion in 2023 to $3. 46 billion in 2024 at a compound annual growth rate (CAGR) of 17. 1%. The growth in the historic period can be attributed to reduction of medication errors, enhanced patient experience, streamlined supply chain processes, inventory management optimization, enhanced workflow automation. .

The healthcare rfid market size is expected to see rapid growth in the next few years. It will grow to $6. 76 billion in 2028 at a compound annual growth rate (CAGR) of 18. 3%. The growth in the forecast period can be attributed to integration with electronic health records, expansion of rfid in laboratory settings, telehealth and remote patient monitoring, customization of rfid solutions. . Major trends in the forecast period include integration with emerging technologies, expansion of rfid in patient tracking, wearable rfid technology, real-time location systems, cloud-based rfid solutions. .

The increasing stringent regulations in the pharmaceutical sector are significantly driving the growth of the healthcare RFID market. Governments and other regulatory bodies across various countries have started implementing stringent measures in the pharmaceutical sector to minimize counterfeiting problems and other medical-related issues. For example, In June 2023, the government of Germany announced the Health Data Use Act (GDNG) and a draft Digital Act (DigiG). The Health Data Use Act plans to grant industry companies access to the right to patient health data for research purposes. This will help healthcare RFID market by allowing companies to use RFID tags to track patient health data and secure the data from hackers. The data collected from RFID tags can be used for research purposes.

Rapidly aging population is significantly contributing to the growth of healthcare RFID market going forward. The elderly population is defined as people aged 65 and over. The aging population is more prone to serious health issues and physical decline. RFID technology can be used for user activity monitoring, allowing caregivers to track the well-being and location of elderly individuals. For instance, in October 2022, according to the data released by the World Health Organization (WHO) a Switzerland-based intergovernmental organization spreading awareness on public healthcare, the share of the population aged 60 years and over will increase from 1 billion in 2020 to 1. 4 billion by 2030. By 2050 the world's population of people aged 60 years and older will double to reach 2. 1 billion. Therefore, rapidly aging population will drive the healthcare RFID market.

Technological advancement is a key trend gaining popularity in the healthcare RFID market. Major companies operating in the healthcare RFID sector are focused on developing new technological solutions to strengthen their position. For instance, in May 2022, Avery Dennison, a US-based materials science and manufacturing company, introduced AD Medio Web DF EM4425, a dual frequency RFID inlays for medical applications such as inventory management and product authentication. AD Medio Web DF EM4425 tags have a compact form factor that can be easily converted into end-application usage and are available in paper tag delivery format.

Major companies are focusing on integrating internet of things (IoT) with healthcare RFID technology to boost data analytics and storage of data from RFID instruments. Internet of things (IoT) refers to a network of interrelated devices that connect and exchange data with other IoT devices and the cloud. For instance, in November 2022, Impinj Inc., a US-based provider of internet of things (IoT) and RFID technology, launched M780 and M781 RAIN RFID tag chips. The new RFID instruments can be used for connecting pharmaceuticals that require extended product identifier with internet of things (IoT) network. These new tag chips are designed to help enterprises manage product shelf life, reduce waste, and comply with regulations.

In March 2021, BD (Becton, Dickinson, and Company), a leading medical technology company, acquired GSL Solutions, for an undisclosed sum. This acquisition helps to expand traditional hospital pharmacy-connected medication management solutions by providing innovative technologies for retail pharmacies. GSL Solutions is a United States-based medical technology company that develops devices for storing and tracking controlled substances, which includes RFID technology.

Major companies operating in the in the healthcare rfid market report are Impinj Inc., Alien Technology Corporation, GAO RFID Inc., Honeywell International Inc., STANLEY Healthcare Pvt. Ltd., Mobile Aspects India Private Limited, RF Technologies Inc., STiD SAS, Terso Solutions Inc., Radianse Inc., CCL Industries Inc., CenTrak Inc., Cardinal Health Inc., LogiTag Systems Ltd., Biolog-id SAS, metraTec GmbH, TAGSYS RFID, Zebra Technologies Corporation, Smartrac N. V., S3Edge Inc., Champion Healthcare Technologies, SpaceCode Pty. Ltd., Pepperl-Fuchs Pvt. Ltd., Hurst Green Ltd., PALEX MEDICAL S. A., Applied Wireless Identifications Group Inc., CAEN RFID S. r. l., Invengo Information Technology Ltd. Co., Motorola Solutions Inc., Solisitice Medicine Company, Avery Dennison Corporation, Bartronics India Ltd., Intermec Inc.

North America was the largest region in the healthcare RFID market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare rfid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the healthcare rfid market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The healthcare RFID market includes revenues earned by entities by providing solutions that automate the healthcare processes for better tracking patients' conditions, medical supplies, and equipment to improve patient care by reducing the risk of human error and cutting operational costs in healthcare settings. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r10382

1. Executive Summary

2. Healthcare RFID Market Characteristics

3. Healthcare RFID Market Trends And Strategies

4. Healthcare RFID Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Healthcare RFID Market Size and Growth

5.1. Global Healthcare RFID Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Healthcare RFID Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Healthcare RFID Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Healthcare RFID Market Segmentation

6.1. Global Healthcare RFID Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Tags and Labels
RFID Systems
6.2. Global Healthcare RFID Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Asset Tracking
Patient Tracking
Pharmaceutical Tracking
Blood Tracking
Other Applications
6.3. Global Healthcare RFID Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Hospitals
Pharmaceuticals
Research Institutions and Laboratories
Other End Users

7. Healthcare RFID Market Regional And Country Analysis

7.1. Global Healthcare RFID Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Healthcare RFID Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Healthcare RFID Market

8.1. Asia-Pacific Healthcare RFID Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Healthcare RFID Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Healthcare RFID Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. 4. Asia-Pacific Healthcare RFID Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Healthcare RFID Market

9.1. China Healthcare RFID Market Overview
9.2. China Healthcare RFID Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Healthcare RFID Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9. 4. China Healthcare RFID Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Healthcare RFID Market

10.1. India Healthcare RFID Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Healthcare RFID Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Healthcare RFID Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Healthcare RFID Market

11.1. Japan Healthcare RFID Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan Healthcare RFID Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Healthcare RFID Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Healthcare RFID Market

12.1. Australia Healthcare RFID Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Healthcare RFID Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Healthcare RFID Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Healthcare RFID Market

13.1. Indonesia Healthcare RFID Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Healthcare RFID Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Healthcare RFID Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Healthcare RFID Market

14.1. South Korea Healthcare RFID Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea Healthcare RFID Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Healthcare RFID Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Healthcare RFID Market

15.1. Western Europe Healthcare RFID Market Overview
15.2. Western Europe Healthcare RFID Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Healthcare RFID Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. 4. Western Europe Healthcare RFID Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Healthcare RFID Market

16.1. UK Healthcare RFID Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Healthcare RFID Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Healthcare RFID Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Healthcare RFID Market

17.1. Germany Healthcare RFID Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Healthcare RFID Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Healthcare RFID Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Healthcare RFID Market

18. 5. France Healthcare RFID Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 6. France Healthcare RFID Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 7. France Healthcare RFID Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Healthcare RFID Market

19. 9. Italy Healthcare RFID Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy Healthcare RFID Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy Healthcare RFID Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Healthcare RFID Market

20.13. Spain Healthcare RFID Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain Healthcare RFID Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain Healthcare RFID Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Healthcare RFID Market

21.1. Eastern Europe Healthcare RFID Market Overview
21.2. Eastern Europe Healthcare RFID Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Healthcare RFID Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. 4. Eastern Europe Healthcare RFID Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Healthcare RFID Market

22.1. Russia Healthcare RFID Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Healthcare RFID Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Healthcare RFID Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Healthcare RFID Market

23.1. North America Healthcare RFID Market Overview
23.2. North America Healthcare RFID Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Healthcare RFID Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. 4. North America Healthcare RFID Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Healthcare RFID Market

24.1. USA Healthcare RFID Market Overview
24.2. USA Healthcare RFID Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Healthcare RFID Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. 4. USA Healthcare RFID Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Healthcare RFID Market

25.1. Canada Healthcare RFID Market Overview
25.2. Canada Healthcare RFID Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Healthcare RFID Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. 4. Canada Healthcare RFID Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Healthcare RFID Market

26.1. South America Healthcare RFID Market Overview
26.2. South America Healthcare RFID Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Healthcare RFID Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. 4. South America Healthcare RFID Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Healthcare RFID Market

27.1. Brazil Healthcare RFID Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Healthcare RFID Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Healthcare RFID Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Healthcare RFID Market

28.1. Middle East Healthcare RFID Market Overview
28.2. Middle East Healthcare RFID Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Healthcare RFID Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. 4. Middle East Healthcare RFID Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Healthcare RFID Market

29.1. Africa Healthcare RFID Market Overview
29.2. Africa Healthcare RFID Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Healthcare RFID Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. 4. Africa Healthcare RFID Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Healthcare RFID Market Competitive Landscape And Company Profiles

30.1. Healthcare RFID Market Competitive Landscape
30.2. Healthcare RFID Market Company Profiles
- 30.2.1. Impinj Inc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1. 4. Financial Performance
- 30.2.2. Alien Technology Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2. 4. Financial Performance
- 30.2.3. GAO RFID Inc.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3. 4. Financial Performance
- 30.2. 4. Honeywell International Inc.
  - 30.2. 4.1. Overview
  - 30.2. 4.2. Products and Services
  - 30.2. 4.3. Strategy
  - 30.2. 4. 4. Financial Performance
- 30.2. 5. STANLEY Healthcare Pvt. Ltd
  - 30.2. 5.1. Overview
  - 30.2. 5.2. Products and Services
  - 30.2. 5.3. Strategy
  - 30.2. 5. 4. Financial Performance

31. Global Healthcare RFID Market Competitive Benchmarking

32. Global Healthcare RFID Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Healthcare RFID Market

34. Healthcare RFID Market Future Outlook and Potential Analysis

34.1 Healthcare RFID Market In 2028 - Countries Offering Most New Opportunities
34.2 Healthcare RFID Market In 2028 - Segments Offering Most New Opportunities
34. 3 Healthcare RFID Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35. 4. Research Inquiries
35. 5. The Business Research Company
35. 6. Copyright And Disclaimer