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How Large Will the Healthcare RFID Market Size By 2025?
The scale of the RFID market in healT*HCare has expanded swiftly over recent years. Projected to increase from $3.38 billion in 2024 to $3.92 billion in 2025, it’s expected to achieve a compound annual growth rate (CAGR) of 15.9%. The surge in this previous era is likely due to the decrease in medication mishaps, improved patient experiences, the refining of supply chain procedures, inventory management improvements, and the enhancing of workflow automation.
How Big Is the Healthcare RFID Market Size Expected to Grow by 2029?
Over the coming years, the healT*HCare RFID market is predicted to experience a sharp increase in size. The estimated value by 2029 is projected to be a substantial $8.22 billion, with a compound annual growth rate (CAGR) of 20.3%. Factors contributing to this projected growth throughout the forecast period include the integration into electronic health records, extending RFID technologies into laboratories, advancing telehealth, and customization of RFID solutions. Noteworthy anticipated trends in this forecast period encompass the integration with novel and emerging technologies, further application of RFID in tracking patients, the incorporation of wearable RFID technology, the progress of real-time location systems, and the development of cloud-based RFID solutions.
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Which Key Market Drivers Powering Healthcare RFID Market Expansion and Growth?
The growth of the healT*HCare RFID market is notably spurred by the tightening regulations in the pharmaceutical industry. Various governments and regulatory bodies around the world have begun to impose strict measures on the pharmaceutical domain to curtail counterfeiting and other medical-related problems. For instance, the German government introduced the Healthcare RFID Market?
The rise of technological innovation is a crucial trend that is increasingly gaining traction in the healT*HCare RFID market. Mainstream companies in the healT*HCare RFID industry are consistently working on creating advanced technological solutions to solidify their market standing. For example, Avery Dennison, a leading US firm specializing in materials science and manufacturing, launched a dual frequency RFID inlays for medical purposes like stock management and product verification in May 2022. Named the AD Medio Web DF EM4425, these tags are compact and easily adaptable for end-application use, and are delivered in a paper tag format.
What Are the Emerging Segments in the Healthcare RFID Market?
The healT*HCare rfid market covered in this report is segmented –
1) By Product: Tags And Labels, RFID Systems
2) By End-User: Hospitals, Pharmaceuticals, Research Institutions And Laboratories, Other End Users
3) By Application: Asset Tracking, Patient Tracking, Pharmaceutical Tracking, Blood Tracking, Other Applications
Subsegments:
1) By Tags And Labels: Active RFID Tags, Passive RFID tags, Semi-Passive RFID Tags, RFID labels
2) By RFID Systems: RFID Readers, RFID Middleware, RFID Software Solutions
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Who Are the Global Leaders in the Healthcare RFID Market?
Major companies operating in the healT*HCare rfid market include Impinj Inc., Alien Technology Corporation, GAO RFID Inc., Honeywell International Inc., STANLEY Healthcare Pvt. Ltd., Mobile Aspects India Private Limited, RF Technologies Inc., STiD SAS, Terso Solutions Inc., CenTrak Inc., Cardinal Healthcare Technologies, SpaceCode Pty. Ltd., Pepperl-Fuchs Pvt. Ltd., PALEX MEDICAL S. A., Applied Wireless Identifications Group Inc., CAEN RFID S. r. l., Invengo Information Technology Ltd. Co., Motorola Solutions Inc., Avery Dennison Corporation, Bartronics India Ltd.
Which are the Top Profitable Regional Markets for the Healthcare RFID Industry?
North America was the largest region in the healT*HCare RFID market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healT*HCare RFID market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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