DUBLIN, April 24, 2023 /PRNewswire/ — The “RFID in Healthcare: Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global RFID in Healthcare Market to Reach $15.7 Billion by 2030
In the changed post COVID-19 business landscape, the global market for RFID in Healthcare estimated at US$5.3 Billion in the year 2022, is projected to reach a revised size of US$15.7 Billion by 2030, growing at a CAGR of 14.6% over the analysis period 2022-2030.
Tags, one of the segments analyzed in the report, is projected to record a 16.2% CAGR and reach US$8.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Readers segment is readjusted to a revised 12.4% CAGR for the next 8-year period.
The U.S. Market is Estimated at $1.5 Billion, While China is Forecast to Grow at 18.1% CAGR
The RFID in Healthcare market in the U.S. is estimated at US$1.5 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$3.8 Billion by the year 2030 trailing a CAGR of 18.1% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.1% and 13.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 13% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.7 Billion by the year 2030.
Fears of new COVID outbreaks and China’s already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.
Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What’s New for 2023?
- Special coverage on Russia–Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Topics Covered:
- Influencer Market Insights
- World Market Trajectories
- COVID-19 Pandemic Impact on Healthcare and Medical Equipment & Supplies Market
- Impact on Pharmaceuticals Sector
- Role of RFID Solutions in Improving Safety During the COVID-19 Pandemic
- RFID: A Mature Technology to Solve Cold Storage Chain Puzzle for COVID-19 Vaccines
- Hospitals Evolve from Manual to RFID-powered Inventory & Workflow Management for COVID-19 Vaccines
- Emerging RFID Applications to Fight COVID-19 Pandemic
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Radio-Frequency Identification (RFID): A Prelude
- RFID Technology Components
- RFID in Healthcare
- Major Application Areas of RFID in Healthcare Facilities
- Market Outlook
- RFID Tags Emerge as the Largest Revenue Contributor
- Significant Capabilities and Advantages of RFID Technology Continues to Boost Adoption
- Recent Market Activity
MARKET TRENDS & DRIVERS
- COVID-19 Elevates Application of RFID Technology in Pathology Sector
- RFID Technology Gains Prominence for Patient Care
- Increased Adoption of RFID Readers and Tags Helps Pharmaceutical Industry Combat the Menace of Product Counterfeiting
- A Peek into the Menace of Counterfeit Drugs
- Growing Menace of Counterfeit Incidents in the Pharmaceutical Industry Boosts Prospects for RFID Implementation
- Most Widely Counterfeited Pharmaceuticals Worldwide: Percentage Share of Value of Fake Drugs Seized
- RFID Beneficial for Tracking Pharmaceutical Expiries and Stocking Issues
- Advantages of RFID Boost Use in Hospitals
- How RFID Technology is Improving Hospital Workflow and Patient Safety
- Introduction of Innovative Devices Foster Growth for RFID Market
- Novel RFID Application for Reusable Hospital and Lab Equipment
- Increased Value for Hospitals, Clinics and Labs from Smart Labeling and Smart Cabinets Enabled by RFID
- UHF Emerges as More Profitable Option for Enterprises in their RFID Infrastructure Build-Outs
- RFID Scores over Bar Coding in Healthcare Sector
- RFID Beneficial Over Bar coding in Blood Monitoring Systems
- Combination of RFID Technology and Barcodes for the Future Healthcare Sector
- Inventory Management: Compelling Use Case for RFID Technology in Healthcare
- RFID Aids in Optimizing Organ Transplantation Outcomes
- RFID for Improvements in Pharmaceutical Supply Chain and Enhanced Patient Safety
- UHF, the Better Frequency for Pharmaceutical Business Needs
- Rising Healthcare Expenditure: A Crucial Macro Growth Driver
- Key Challenges Confronting RFID Technology Market
- Cost Continues to be Key Hurdle
- Uncertainty over ROI
- Lack of Established Standards
- Main RFID Standards
FOCUS ON SELECT PLAYERS (Total 161 Featured)
- Avery Dennison Corporation
- Cardinal Health, Inc.
- Dolphin RFID Pvt. Ltd.
- GAO RFID, Inc.
- Grifols, S.A
- International Business Machines (IBM) Corp.
- Impinj, Inc.
- LogiTag Ltd.
- metraTec GmbH
- Mobile Aspects Inc.
- STANLEY Healthcare
- Terso Solutions, Inc.
- TOSHIBA TEC CORPORATION
- Zebra Technologies Corporation
For more information about this report visit https://www.researchandmarkets.com/r/8n4lxa
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