RFID Market Research Reports, Analysis & Trends
- As per the reports, there is a growth in RFID applications in the healthcare industry, which include tracking medical hospital equipment, blood transfer monitoring, patient identification, and tracking medication from pharmacy to patient.
- Tracking medical hospital equipment segment of the RFID application market is the largest revenue generating segment and is expected to reach market value of USD 1,173.1 million in 2018 upto a CAGR of 17.3% from the 2012 value of USD 449.5 million.
- The blood transfer monitoring application market for RFID is one of the fastest growing markets across the world because blood banks need to maintain the integrity and authenticity of the blood bags delivered.
RIFD Industry Current Trends
- As per the industry statistics, the worldwide market for RFID technology was US $1.49 billion in 2004 and US $1.95 billion in 2005 and is expected to reach US $26.9 billion in 2015. And the RFID vendors are increasingly gaining from the sale of RFID hardware components.
- According to the reports, the RFID tags segment occupies about 61% of the global RFID technology in the healthcare market. Rising issues of counterfeiting, need for tracking and localizing medical equipment, and enhancing safety and efficiency of healthcare delivery are some of the major contributing factors for the high growth rate of RFID technology in healthcare sector.
Major RIFD Industry Players