RFID in Healthcare Market Analysis By Components (Tags, Readers, Middleware, Printers), Applications (Equipment Tracking, Medicine Tracking, Medical Report Tracking), Insights, Dynamics, Key Players and Regional Outlook, Forecast To 2023
Pune, India – July 12, 2019 —
The Radiofrequency Identification (RFID) in Healthcare Market share to represent 23.3% CAGR owing to rising technological innovation in healthcare industry and automated process adopted by pharmacy and hospitals during the forecast period (2018-2023), states Market Research Future (MRFR).
The fundamental reasons backing market growth could be the increasing focus on the reduction of operational costs and streamlining the workflow.
Other than this, rising demand for an organized supply chain management and the need for enhancing the quality and efficiency of care also favor the market.
RFID technology allows organizations to efficiently manage inventory and helps prevent stock out and overstock situations.
RFID in Healthcare Market Analysis By Application (Equipment Tracking, Medical Report and Blood Samples Tracking, Medicine Tracking), Component, End user and Key Players, Forecast to 2023
RFID in Healthcare Market is Expected to Grow At CAGR Of 23.3% over the forecast period Predicted By Market Research Future.
Radio-frequency Identification (RFID) is used for patient observation, patient care efficiencies, provider satisfaction and tracking.
RFID is a wireless system that generating radio waves for collecting data from a tag attached to an object, for several purposes such as tracking of objects and automatic identification.
The rising concerns about awareness of patient safety, inventory management and rising acceptance of automation in the healthcare sector are the major factors driving the growth of the global RFID in healthcare market.
Additionally, aggressive strategies adopted by the top players and the introduction of new products in the market are fueling the growth of the market during the forecast period.
In this report, Research Report Insights (RRI) delivers key insights on the global smart labels market in its published report, titled “Smart labels Market by 2026” In terms of revenue, The segment is expected to create incremental $ opportunity of more than US$ 10,000 Mn from 2016 to 2026. In terms of volume, the RFID segment is expected to register a CAGR of 17.1% over the projected period, owing to numerous factors, about which RRI offers thorough insights and forecasts in this report.
The market is segmented based on technology type, end use, printing technology type and region. Based on technology type, the market is sub-segmented into RFID, NFC tags, electronic article surveillance, sensing labels and electronic shelf labels. Among all the technology type segment, RFID segment is expected to account for the highest market share, followed by electronic article surveillance segment over the forecast period. The electronic article surveillance technology type segment is expected to register a significant CAGR of 16.5% during the forecast period in terms of value. The sensing labels segment is projected to register a decent CAGR of 16.3% over the forecast period. The factors fuelling demand for smart labels solution is the increasing growth of Internet of Things in developed countries. Moreover, due to the globalisation many perishable food items, are exported to different countries which is also expected to further assist to create a huge buzz in the global smart labels market.
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To provide in-depth insights on the pattern of demand for smart labels, the market is segmented on the basis of end use such as healthcare, automotive, FMCG, logistics, retail and others (aerospace, library etc.). The healthcare end use segment is projected to grow at a significant CAGR of 18.4% over the forecast period in terms of value. The market has also been segmented by printing technology type which includes flexographic, digital, gravure and screen segments. Flexographic printing technology segment is anticipated to be most attractive segment in terms of value over the forecast period. Gravure printing technology segment accounted for significant market share 29.3% in 2016. However, digital printing technology segment is anticipated to witness maximum growth during the forecast period.
Organised Retail Sector and Reducing Counterfeiting to Drive Growth of the Global Smart labels Market: RRI
A key trend defining the market is that the smart labels providers are increasingly focusing to the RFID enabled smart labels which is gaining traction in the smart labels market due to the property to hold more data than other technology. Moreover, RFID enabled smart labels is active in the tough environment where normal barcode labels are not able to operate.
This report assesses trends driving growth of each segment on the global level and offers potential takeaways that could prove substantially useful to smart labels manufacturers looking to enter the market. The North America market dominated the smart labels market, accounting for maximum revenue share of the market in 2016. Collectively, Western Europe and APEJ markets accounted for over 35.0% revenue share of the global smart labels market in 2016. Among the emerging markets, Asia Pacific excluding Japan is estimated to exhibit a significant CAGR of 18.2% over the forecast period. However, Middle East & Africa region is expected to be slothful during the forecast period.
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Key Players:
Some of the key players in the global smart labels market include Avery Dennison Corporation, CCL Industries Inc., Muehlbauer Holding AG, Checkpoints Systems, Inc., Thin Film Electronics ASA, Zebra Technologies Corporation, Sato Holdings Corporation, Invengo Information Technology Co Ltd and Intermec, Inc.. In this report, we have discussed individual strategies followed by these companies in terms of enhancing their product portfolio, creating new marketing techniques, mergers and acquisitions. The ‘Competitive Landscape’ is included to provide report audiences with a dashboard view and company share collectively.
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Market ScenarioThe global radiofrequency identification market is expected to exhibit a strong 15.6% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR).
The market is expected to grow to a robust valuation of USD 31.8 billion by 2023, according to MRFR.The growing use of radiofrequency identification systems in retail, healthcare, defense, transportation and logistics, and other applications is the major driver for the global Radio-Frequency Identification Market.
Rising demand from emerging economies is likely to be the major driver for the global radiofrequency identification market over the forecast period.Key PlayersThe prominent players in the RFID Industry are: NXP Semiconductors N.V (Netherlands), Alien Technology (US), 3M Company (U.S), ACTAtek Technology (U.S), Axcess International, Inc. (U.S), : Impinj Inc. (US), Ascendent ID (U.S), ), Checkpointt System Inc. (U.S), and Avery Dennison Corporations (US), among others.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/3189Radio Frequency Identification Market Global Market - SegmentationThe global radio frequency identification market is segmented on the basis of product type, wafer size, component, frequency, end use, and region.By product type, the global radiofrequency identification market is segmented into tags, readers, software, and others.By wafer size, the global radiofrequency identification market is segmented into 200 mm, 300 mm, 450 mm, and others.By component, the global radiofrequency identification market is segmented into passive, active, and others.By frequency, market is segmented into low frequency, high frequency, ultra-high frequency, and active ultra-high frequency.By end use, the global radiofrequency identification market is segmented into BFSI, agriculture/animal tracking, commercial, transportation, logistics and supply chain, healthcare, aerospace, defense, retail, security and access control, sports, and others.Radio Frequency Identification Market Global Market - Regional AnalysisNorth America is likely to dominate the global radiofrequency identification market over the forecast period due to the growing demand for RFID tagging in retail, healthcare, transportation, defense, sports, access control and other applications in the region.
The benefits of radiofrequency identification, including accuracy and errorless operations, have become increasingly apparent to various agencies in the region, which has resulted in growing use of RFID tagging in various applications.
The retail sector is likely to remain a key player for the radiofrequency identification market over the forecast period due to the widespread use of radiofrequency identification in the retail sector.
The use of radiofrequency identification in large supermarket chains across the U.S. and Canada is likely to be a major driver for the radiofrequency identification market in North America over the forecast period.Europe is also likely to hold a major share in the global radiofrequency identification market over the forecast period, as the region has experienced widespread adoption of radiofrequency identification systems in retail, healthcare, and numerous other sectors in the last few years.
The global microfluidic healthcare industry market is anticipated to rise at a higher CAGR in the forthcoming period.
The report includes Microfluidic for Healthcare Market By Product Type, By Application, By Region Analysis & Forecast 2018-2023.
Advantages offered by use of microfluids include ruggedness, low cost and ability to generate precise results well suited to clinical settings.
• It provides a forward looking perspective on different factors driving or restraining market growth.
• It helps in understanding the key product segments and their future.
• It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments.
