RFID in Healthcare Market Drivers | Global Demand and Business Drivers | Forecast To 2022

 The global RFID in Healthcare Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

Global RFID in healthcare market was valued at USD 646.7 million in 2014 and is expected to reach over USD 3.89 billion over the next seven years. Key influences attributing to this rapid growth include growing occurrences of theft and loss of different medical devices which result in high losses to the pharmacies and hospitals.

Key Players:

• Log Tag
• Terson Solutions
• Solstice Medical LLC
• Logi Tag
• Wave Mark
• Mobile Aspects Inc
• Hurst Green Plastics Ltd.
• Tagsys RFID Group
• Pepperl+Fuchs
• Metra Tec GmbH
• Bollhoff Group

Request free sample to get a complete analysis of top-performing companies @ https://www.millioninsights.com/industry-reports/rfid-in-healthcare-market/request-sample

Growth Drivers:

The healthcare market is majorly driven by the cheap availability of highly efficient systems and tags. Improper storage systems and careless handling in pharmaceutical stores have led to rising number of stock outs and expiration of medicines. This, in turn, may impact in loss of revenue and reputation which is anticipated to encourage better usage in the foreseeable future.

Furthermore, one of the high impact rendering drivers for the growth of this market is the development and rising usage of Kanban systems in order to achieve lean inventory. RFID Kanban systems allow organizations to lessen their inventory value by 15-35% according to a study shown by Stanley Healthcare. In addition, with inventory reduction by 50%, the inventory replenishment expenses can be condensed down to a total expenditure of just 5% of overall. Furthermore, these changes are anticipated to cut down on the storage space by 22%. As a result, storage costs are reduced substantially subsequently decreasing energy costs as well.

Product Outlook:

• SystemsAsset Tracking Systems
• Pharmaceutical Tracking Systems
• Patient Tracking Systems
• Blood Monitoring Systems
• TagsAsset Tracking Tags
• Pharmaceutical Tracking Tags
• Patient Tracking Tags
• Blood Monitoring Tags

Regional Outlook:

Asia-Pacific, North America, Latin America, MEA and Europe are key regional markets. In 2014, North America was the dominant market player which captured over 50% of the overall share. Key factors accrediting to its large share include the existence of developed healthcare infrastructure together with high awareness levels about the advantages of these systems.

Further, in November 2013, U.S. president entered into a contract with The Drug Quality and Security Act (DQSA) that outlines essential steps to form an interoperable and electronic system that could trace and ascertain prescription drugs while they are distributed in the United States. The usage of RFID tags and systems in the U.S. is expected to rise owing to the emergence of aforementioned steps over the forecast period.

However, Asia Pacific is projected to grow at a rapid over the forecast period. New multinational hospital chains, continuously improving healthcare infrastructure and favourable government initiatives in the region will considerably propel growth in Asia Pacific market.

Browse Related Category Research Reports @ https://blog.naver.com/tomclark