The global RFID in healthcare market is expected to reach USD 1,947.04 million by 2030 at a CAGR of 13.10% over the forecast period 2022-2030.

RFID in Healthcare Market Overview

This can be attributed to key factors such as the increasing requirement to reduce operating costs, the adoption of radio frequency identification (RFID) in healthcare, and the need to improve patient safety. The rising need for efficient supply chain management and the rising number of patient visits are also some of the key drivers.
The integration of RFID can effectively manage inventory and prevent out-of-stock and overstock situations. These systems enable real-time data management, preventing inventory loss and theft. An RFID-enabled system facilitates better inventory management, with less overstocking to improve operational efficiency. In the operating room, RFID tags for medical equipment allow staff to easily track essential equipment used in procedures and help improve patient safety.
RFID technology is also used in blood banks, laboratories, and pharmaceutical companies for better workflow management. For example, in June 2016, a blood bank at Liverpool Hospital (Sydney) implemented RFID SpaceCode smart refrigerators, which are designed to identify RFID-tagged blood products stored in them and ensure that blood bags are not kept refrigerated for long periods of time.

The RFID in Healthcare Market has been recently published by Contrive Datum Insights to its huge database which helps to shape the future of businesses by making well-informed business decisions. It offers a comprehensive analysis of various business aspects such as global market trends, recent technological advancements, market size, shares, and new innovations. Furthermore, this analytical data has been compiled through data exploratory techniques such as primary and secondary research. Moreover, an expert team of researchers throws light on various static as well as dynamic aspects of the global RFID in Healthcare market.

Some of the key players profiled in the study are:

Different leading key players have been profiled to get better insights into the businesses. It offers detailed elaboration on different top-level industries which are functioning in global regions. It includes informative data such as company overview, contact information, and some significant strategies followed by key players:

Applied Wireless Identifications Group, Inc., Invengo Information Technology Ltd. Co., Alien Technology Corporation, CAEN RFID S.r.l., Impinj, Inc., GAO RFID Inc., Intermec, Inc., Sato Holdings Corporation, STiD and Motorola Solutions, Inc.

Industry Development:

• In May 2021, CAEN RFID S.R.L. announced that all CAEN RFID readers are fully supported by the Nebula platform, which enables fast and straightforward implementation of RFID-based track and trace solutions. The Nebula platform takes care of all the RFID technical details so customers can focus on the business-relevant aspects of the solution.
• In December 2019, Impinj, Inc., a leading provider of RAIN RFID solutions, introduced the Impinj M730 and Impinj M750 integrated circuits (ICs). Impinj M730 and M750 ICs deliver high performance, fast stockability, and advanced features for next-generation RAIN RFID tags that can be attached to or embedded in virtually any item and operate globally

What are the major Applications, Types, and Regions for the RFID in Healthcare Market?

By Component

• RFID tags

1. Active RFID tags
2. Passive RFID tags

• RFID readers

1. Active RFID tags
2. Passive RFID tags

• RFID middleware
• RFID printers
• RFID cabinets

By Application

• Equipment tracking
• Patient identification and tracking
• Samples and blood transfer tracking
• Medicine tracking
• Others

RFID in Healthcare Market Regional Insights:

North America accounted for the largest market share of approximately 45% in 2018, attributed to key factors such as the increasing number of hospitals, increasing patient safety regulations, and the requirement to track medical devices. The presence of well-developed healthcare infrastructure and the high adoption of advanced technologies in healthcare are some of the other factors contributing to regional growth. The United States is the largest market in the region, contributing to the high adoption of technology in healthcare services. High awareness about the advantages of adopting RFID and growing concerns about the risks of medication errors are boosting regional growth.
The Asia Pacific region is expected to witness the fastest CAGR of 24.9% during the forecast period. The region is home to a large number of pharmaceutical and life science companies and there is a growing need for the efficient supply chain management. Rising healthcare expenditure, the presence of a large pharmaceutical industry, and improving healthcare infrastructure are some of the key factors that can be attributed to regional demand. The region has a large number of patients with chronic and infectious diseases. The rising burden of disease is expected to increase the demand for efficient healthcare services, thereby boosting the market growth.

Geographically, the global RFID in Healthcare market has been analyzed in various regions such as North America, Europe, Asia-Pacific, Latin America, Middle East, and India. The Global region is dominating this market in the upcoming future.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
  • Denmark
  • Finland
  • Iceland
  • Sweden
  • Norway
  • Belgium
  • The Netherlands
  • Luxembourg
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Benelux Union
• Rest of Europe
• Asia-Pacific
  • Indonesia
  • Thailand
  • Malaysia
  • Singapore
  • Rest of Southeast Asia
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

RFID in Healthcare Market Report Scope:

Report Attributes	Details
Growth Rate	CAGR of 13.10% from 2022 to 2030.
By Component	RFID tags Active RFID tags Passive RFID tags RFID readers Active RFID tags Passive RFID tags RFID middleware RFID printers RFID cabinets
By Application	Equipment tracking Patient identification and tracking Samples and blood transfer tracking Medicine tracking Others
By Companies	Applied Wireless Identifications Group, Inc., Invengo Information Technology Ltd. Co., Alien Technology Corporation, CAEN RFID S.r.l., Impinj, Inc., GAO RFID Inc., Intermec, Inc., Sato Holdings Corporation, STiD and Motorola Solutions, Inc.
Regions and Countries Covered	North America: (US, Canada, Mexico, Rest of North America) Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe) Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific) The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa) Latin America(Brazil, Argentina, Rest of Latin America) Rest Of the World
Base Year	2022
Historical Year	2017 to 2022
Forecast Year	2023 to 2030

Frequently Asked Questions (FAQ) about the RFID in Healthcare market:

What is the CAGR of the global RFID in Healthcare market?

The RFID in Healthcare Market is growing at a CAGR of 13.10% during the forecast period.

Which region would offer high growth for vendors in the RFID in Healthcare market?

North America accounted for the largest market share of approximately 45% in 2018

Which Is the Most potential market segment?

By Component

• RFID tags

1. Active RFID tags
2. Passive RFID tags

• RFID readers

1. Active RFID tags
2. Passive RFID tags

• RFID middleware
• RFID printers
• RFID cabinets

Which are the top industry players in the RFID in Healthcare market?

Applied Wireless Identifications Group, Inc., Invengo Information Technology Ltd. Co., Alien Technology Corporation, CAEN RFID S.r.l., Impinj, Inc., GAO RFID Inc., Intermec, Inc., Sato Holdings Corporation, STiD and Motorola Solutions, Inc.

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