Healthcare RFID Market Research Report – Global Forecast till 2030

Healthcare RFID Market: Information By Component (Tags, Readers, Middleware, Printers), Application (Equipment Tracking, Medicine Tracking, Others), End-User (Pharmaceutical and Biotechnology Companies, Hospitals, Others) — Forecast till 2030

ID: MRFR/HC/6111-HCR | February 2023 | Region: Global | 85 Pages         

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Healthcare RFID Market

The Healthcare RFID Market is expected to reach USD 1947.04 Million by 2030 at 13.10% CAGR during the forecast period 2022-2030.

Segmentation
By Component Tags Readers Middleware Printers
By Application Equipment Tracking Medicine Tracking Others
By End-User Pharmaceutical and Biotechnology Companies Hospitals Others
Key Players
Companies Profiled   Alien Technology Corporation   Applied Wireless Identifications Group Inc.   CAEN RFID S.r.l.    Gao RFID Inc.   Honeywell International Inc.    Impinj Inc.   Invengo Information Technology Ltd. Co.    Mobile Aspects Inc.   Motorola Solutions Inc.   Radianse
Drivers
Market Driving Forces   Focused towards patient safety   High efficacy of the RFID systems   Rising population of cancer patients   Adoption of automated process in hospitals and pharmacies
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Healthcare RFID Market Overview


The Healthcare RFID Market is expected to reach USD 1947.04 Million by 2030 at 13.10% CAGR during the forecast period 2022-2030. The RFID has become prominent for patients in healthcare and can also provide asset tracking across advanced and emerging economies. It also is helpful For the detection of screening of drugs. It can also reduce waste and decrease the occurrence of unwanted costs. Using this can provide many advantages to the healthcare industries, such as patient safety, tracking, patient care, provider satisfaction, etc., and improve the inventory management system in hospitals, biotechnological centres, and pharmacies. The focus on high efficiency and patient safety and the rising population of cancer patients and hospitals adopting automated systems will increase the market growth. Many collaboration and market players present in the growing region are the major factors for the market. However, there are several advantages of the market. Still, the high cost of being included with the system and the lack of awareness among people about RFID can hinder the market. Technical limitations like errors may hinder the Healthcare RFID Market. The rising strategies and alliances by the major players in North America are likely to improve the market positions.


Segmentation


The healthcare RFID market has been segmented on the basis of components, applications, end-user, and region.


On the basis of type, the market has been classified as tags, readers, middleware, printers, and others. The market, by tags, has been sub-segmented into active tags and passive tags. Also, by readers market has been further segmented into active readers and passive readers. Based on applications, the market has been segmented into equipment tracking, people identification and tracking, medical report and blood samples tracking, medicine tracking, and others. The market, by end-user, has been segmented into pharmaceutical and biotechnology companies, hospitals, research institutes, and others. The tags segment is expected to hold the largest market share of the healthcare RFID market, by components owing to its wide application in asset tracking, pharmaceutical tracking, for tacking blood monitoring systems, and patient tracking. Also, by end-user research institutes to register the highest CAGR owing to rising research and development by the major players during the forecast period.


The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The healthcare RFID market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.


The European healthcare RFID market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. 


The healthcare RFID market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The market in the Middle East & Africa has been segmented into the Middle East and Africa.


Regional Market Summary


Global Healthcare RFID Market Share, by Region, 2017 (%)


Healthcare RFID Market


Source: MRFR Analysis


The Americas are likely to dominate the healthcare RFID market owing to the rising strategic alliance by major players, the involvement of non-profit organization in research & development, and well-established healthcare infrastructure. According to the US Department of Health and Human Services, in 2018, around 1,735,350 new cases of cancer will be diagnosed in the United States and 609,640 people will die from the disease. For instance, in May 2018, CCL Industries Inc. acquired Nortec International Ltd. a privately held company for approximately USD 9 million.


The European market is expected to be the second-largest healthcare RFID market. The market growth in this region can be attributed to government funding and support of the healthcare sector coupled with increasing research and development.


Asia-Pacific is expected to be the fastest-growing healthcare RFID market during the forecast period owing to the improving healthcare infrastructure, rising investments in healthcare and expansions by market players in the region. Also, countries such as India and China are considering the fastest growing region due to the government focused on adopting new technology, and the best treatment option from a developed country. According to the World Health Organization, in 2010, the healthcare expenditure of India was 3.27% of GDP, whereas, in 2015 it has 3.89% of total GDP.


The market in the Middle East & Africa is expected to account for the smallest share of the healthcare RFID market due to an underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.


Key Players


Some of the key players in the healthcare RFID market are Alien Technology Corporation, Applied Wireless Identifications Group, Inc., CAEN RFID S.r.l., Gao RFID, Inc., Honeywell International Inc., Impinj Inc., Invengo Information Technology Ltd. Co., Mobile Aspects, Inc., Motorola Solutions, Inc., Radianse, RF Technologies, Stanley Healthcare, STiD RFID


Market of Healthcare RFID, by Component



  • Tags


    • Active Tags

    • Passive Tags


  • Readers


    • Active Readers

    • Passive Reader


  • Middleware

  • Printers

  • Others


Market of Healthcare RFID, by Application



  • Equipment Tracking

  • People Identification and Tracking

  • Medical Report and Blood Samples Tracking

  • Medicine Tracking

  • Other


Market of Healthcare RFID, by End User



  • Pharmaceutical and Biotechnology Companies

  • Hospitals

  • Research Institutes

  • Others


Market of Healthcare RFID, by Region



  • Americas


    • North America


      • US

      • Canada


    • Latin America


  • Europe


    • Western Europe


      • Germany

      • France

      • Italy

      • Spain

      • UK

      • Rest of Western Europe


    • Eastern Europe


  • Asia-Pacific


    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Rest of Asia-Pacific


  • The Middle East & Africa


    • Middle East

    • Africa



Company Profiles



  • Alien Technology Corporation

  • Applied Wireless Identifications Group, Inc.

  • CAEN RFID S.r.l.

  • Gao RFID, Inc.

  • Honeywell International Inc.

  • Impinj Inc.

  • Invengo Information Technology Ltd. Co.

  • Mobile Aspects, Inc.

  • Motorola Solutions, Inc.

  • Radianse

  • RF Technologies

  • Stanley Healthcare

  • STiD RFID


Recent Development


In May 2022


In Houston, Ordering a ventilator on demand for critical patients unable to breathe on their own just got easier for hospitals thanks to new technology from US Med-Equip (USME), the nation's leading provider of rented medical equipment.


In April 2022


 a business unit of Novanta Corporation (“Novanta”),  called JADAk, announces the release of the ThingMagic® M7e-Pico featuring the new Impinj E310 RAIN RFID reader chip. The first in the new M7e series is the ThingMagic® Pico, one of the smallest UHF RFID modules, enabling customers to use the chip in extremely small applications such as handheld RFID scanners and wearable devices RFID devices, surgical hand scanners, mobile RFID printers and smart vending machines.Intended Audience



  • RFID Manufacturers

  • RFID Distributors and Suppliers

  • Healthcare Providers

  • Research Institutes and Academic Centers

  • Medical Devices Manufacturers

  • Government Associations

  • Market Research and Consulting



Report Scope:

Report Attribute/Metric Details
  Market Size   2020 : USD 1947.04 Million
  CAGR   13.10% (2022-20230)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Component, Application, End-User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Alien Technology Corporation, Applied Wireless Identifications Group, Inc., CAEN RFID S.r.l., Gao RFID, Inc., Honeywell International Inc., Impinj Inc., Invengo Information Technology Ltd. Co., Mobile Aspects, Inc., Motorola Solutions, Inc., Radianse, RF Technologies, Stanley Healthcare, STiD RFID
  Key Market Opportunities   Mergers, expansion, and collaboration for the development of new technologies to reinforce RFID in healthcare by industry players
  Key Market Drivers

  • Increasing demand for efficient inventory systems in the healthcare sector
  • Adoption of automated process in hospitals and pharmacies


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    Frequently Asked Questions (FAQ) :

    The global healthcare RFID market was valued at more than USD 1947.04 Million in 2030.

    The global healthcare RFID market is expected to exhibit a solid 13.10% CAGR over the forecast period from 2020 to 2030.

    The increasing demand for efficient inventory systems in the healthcare sector is the major driver for the global healthcare RFID market.

    Lack of awareness and the high costs of RFID equipment have held back the market, especially in developing regions such as Asia Pacific, Latin America, and Africa.

    The Americas segment dominates the global healthcare RFID market.