Published Date: 30-Jun-2023
Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
According to a new report, published by KBV research, The Global RFID in Healthcare Market size is expected to reach $13.3 billion by 2030, rising at a market growth of 17.5% CAGR during the forecast period.
The Asset Tracking segment acquired maximum revenue share in the Global RFID in Healthcare Market by Application in 2022 thereby, achieving a market value of $4.6 billion by 2030. One of the main reasons influencing the segment's dominating share is the rising need for effective medical equipment tracking systems and the rising usage of RFID systems for patient and staff tracking. Further, the market is experiencing growth due to the need for inventory management which could be done efficiently by asset tracking.
The Systems & Software segment has shown the growth rate of 19.3% during (2023 - 2030). These systems are often utilized in hospitals and other healthcare institutions to keep track of personnel, assets, and inventory. A greater emphasis on simplifying the workflow and placing patient safety first has led to an increase in the use of patient monitoring systems and the prevention of counterfeit pharmaceuticals and equipment. This has been the main driver propelling this segment's rise.
The North America market dominated the Global RFID in Healthcare Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $5.2 billion by 2030. The Europe market is exhibiting a CAGR of 17% during (2023 - 2030). Additionally, The Asia Pacific market would showcase a CAGR of 18.4% during (2023 - 2030).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Honeywell International, Inc., Alien Technology, LLC, Zebra Technologies Corp., Avery Dennison Corporation, Impinj, Inc., 3M Company, Invengo Technology Pte. Ltd., Siemens AG, Fujitsu Limited and Terso Solutions, Inc. (Promega Corporation).
Unique Offerings from KBV Research