Radio Frequency Identification Devices in Healthcare Market - SITE LICENSE

Radio Frequency Identification (RFID) is a wireless technology which aligns with radio frequency waves to track the tags attached to the objects and people. In healthcare, RFID technology helps in monitoring patient, real time tracking of assets, medication authentication, wait time monitoring, and hand washing, among others. The main reasons or factors driving the growth of RFID technology market in healthcare include price, capability and size. As the price of RFID technology is showing a constant downfall, its demand has been extensively increasing in healthcare (both private as well as government hospitals). RFID market in healthcare is projected to experience a remarkable growth in the next 5 years.

The report constitutes of an extensive study of RFID technology in the healthcare market. It includes a thorough analysis of different types of components using RFID technology in healthcare. RFID technology in healthcare market has further been segmented in terms of application, which helps in understanding the need of deploying RFID technology into different applications. It further explains the driving factors, challenges and growth opportunities of RFID technology in the healthcare market. Major players have been identified on the basis of portfolio diversification related to RFID enabled technology, geographical presence and developments related to RFID technology in healthcare.
The market report presents a detailed and investigative study of the entire market and provides a comprehensive insight into various forms of developments, trends and key participants. While highlighting the key driving and restraining forces for this dynamic market, the report also provides a comprehensive section on competitive landscape, market share analysis, competitor benchmarking, and their positioning within the global RFID in the healthcare market.
A detailed section of company profiling has been incorporated in order to understand the players’ strategic behavior. The RFID technology in healthcare market is further explained and analyzed on the basis of geography, which has been categorized into four regions namely: North America, Europe, Asia-Pacific, and Rest of the World. Moreover, the country analysis has also been done in order to have a clear picture of RFID technology in the healthcare market. The growth rate of various countries has been calculated based on the country’s frequency in adopting RFID technology in the healthcare market, ongoing developments in the regions by the government as well as the private entities.
The answers to the following key questions can be found in the report:
What is the size, in terms of revenue, of RFID in Healthcare market in 2016, and growth rate during the forecast period, 2017-2021?
What are different type of components for RFID products in Healthcare by respective manufacturers?
What is the revenue generation of RFID in Healthcare being utilized by different end-use applications in 2016 and their growth prospects?
How increase in a number of RFID Tags is affecting the growth of RFID in Healthcare market?
What is the market size of RFID in Healthcare on the basis of different regions?
What are the key trends and opportunities in RFID in Healthcare market, pertaining to countries included in different regions?
How attractive is the market for different stakeholders present in the market by analyzing the futuristic scenario of RFID in Healthcare market?
What are the major driving forces that tend to increase the demand for RFID technology in Healthcare during the forecast period?
What are the major challenges inhibiting the growth of the global RFID in Healthcare market?
What kind of new strategies is being adopted by existing market players to make a mark in the industry?
What is the competitive strength of key players in the RFID in Healthcare market by analyzing through a market share analysis and competitive benchmarking model?
Who are the key market players in the market, along with their detailed analysis & profiles?
Executive Summary
1 Report Scope and Methodology
1.1. Scope of the Report
1.2. Global RFID in Healthcare Market Segmentation
1.3. Key Learnings
1.4. Research Methodology
1.4.1. Data Triangulation
1.4.2. Key Data Points From Secondary Sources
1.4.3. Key Data Points From Primary Sources
1.4.4. Top-Down Approach (Segmental Analysis)
1.4.5. Bottom-Up Approach (Segmental Analysis)
1.4.6. Assumption and Limitations
1.4.7. Data and Prediction Modelling
2. Market Overview
2.1. Introduction
2.2. RFID in Healthcare Working Principle
2.3. Trust-Risk Model
2.4. Case Study
3. Market Dynamics
3.1.1. Market Drivers
3.1.2. Market Restraints
3.1.3. Market Opportunities
4. Competitive Landscape
4.1. Key Developments & Strategies
4.1.1. Product Launch & Developments
4.1.2. Partnerships, Joint Ventures, Collaborations and Contracts
4.1.3. Business Expansions and Certifications
4.1.4. Mergers and Acquisitions
4.1.5. Other Developments and Recognitions
4.2. Value Chain Analysis
4.3. Industry Attractiveness
5. Industry Analysis
5.1. SWOT Analysis
5.2. PESTEL Analysis
5.3. Patent Landscape
5.4. Regulatory bodies/ Consortiums/ Associations
6. Global RFID in Healthcare Market by Component
6.1. Overview
6.2. RFID Tags
6.3. RFID Readers
6.4. Systems & Softwares
7. Global RFID in Healthcare Market by Application
7.1. Overview
7.2. Inventory Management
7.3. Patient Monitoring and Tracking
7.4. Medication Authentication and Control
7.5. Access Control
7.6. Others
8. Global RFID in Healthcare Market by Geography
8.1. Overview
8.2. North America
8.2.1. The U.S.
8.2.2. Canada
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. The U.K.
8.3.4. Rest of Europe
8.4. Asia Pacific (APAC)
8.4.1. China
8.4.2. India
8.4.3. Rest of APAC
8.5. Rest of the World (RoW)
9. Company Profiles
9.1. Awarepoint Corporation
9.2. CAEN RFID srl
9.3. Dolphin RFID Pvt. Ltd.
9.4. Ekahau, Inc.
9.5. GAO RFID Inc.
9.6. Impinj, Inc.
9.7. Intermec (Honeywell International Inc.)
9.8. LogiTag Systems Ltd.
9.9. MetraTec GmbH
9.10. Radianse
9.11. SMARTRAC N.V.
9.12. Sonitor RTLS Technologies
9.13. Stanley Innerspace
9.14. STid Electronic Identification
9.15. Tagsys RFID Group, Inc. (CXIgnited)
9.16. ThingMagic, Inc.
9.17. VIZBEE RFID Solutions
9.18. WaveMark, Inc
List of Tables
1 Major Differences Between RFID Technology And Barcode Scanners
2 Global RFID Market in Healthcare (2016 & 2021) Overview
3 Trust-Risk Model
4 Growth of Geriatric Population in 2016 and 2018
5 Emerging Private Players in RFID Healthcare Market
6 Recent Product Launch & Developments
7 Partnerships, Joint Ventures, Collaborations and Contracts
8 Business Expansions and Certifications
9 Mergers and Acquisitions
10 Other Developments and Recognitions
11 Patent Landscape
12 Regulatory bodies/ Consortiums/ Associations
List of Figures
1 Global RFID Market, 2017-2021 ($Million)
2 Global Healthcare RFID Market, 2017-2021 ($Million)
3 Global Healthcare RFID Market by Component, 2016
4 Global Healthcare RFID Market by Component, 2021
5 Healthcare RFID Market by Application, 2016 and 2021
6 Global RFID in Healthcare Market by Geography, 2016 & 2021 ($Million)
7 Flowchart (Monitoring Section)
8 Flowchart (Tracking Section)
9 Global Smartphones Users, 2014-220
10 Value Chain Analysis
11 Global RFID in Healthcare Market, By Components
12 Global Healthcare RFID Market, by Component, 2017-2021 ($Million)
13 Global Healthcare RFID Tags Market, 2017-2021 ($Million)
14 Types of RFID Tags
15 Global Healthcare RFID Readers Market, 2017-2021 ($Million)
16 Global Healthcare RFID Systems and Software Market, 2017-2021 ($Million)
17 Global RFID in Healthcare Market, By Application
18 Global Healthcare RFID Market, By Application, 2017-2021 ($Million)
19 Global Healthcare RFID Market, Inventory Management, 2017-2021 ($Million)
20 Global Healthcare RFID Market, Patient Monitoring and Tracking, 2017-2021 ($Million)
21 Global Healthcare RFID Market, Medication Authentication & Control, 2017-2021 ($Million)
22 Global Healthcare RFID Market, Access Control, 2017-2021 ($Million)
23 Global Healthcare RFID Market, Others, 2017-2021 ($Million)
24 Geographical Scenario
25 Status of RFID Technology in Healthcare Across Different Regions
26 Global RFID in Healthcare Market,2016-2021, by Geography (in $Million)
27 Awarepoint Corporation :SWOT Analysis
28 Awarepoint Corporation :Product Portfolio
29 CAEN RFID srl :SWOT Analysis
30 CAEN RFID srl :Product Portfolio
31 Dolphin RFID Pvt. Ltd. :SWOT Analysis
32 Dolphin RFID Pvt. Ltd. :Product Portfolio
33 Ekahau, Inc. :SWOT Analysis
34 Ekahau, Inc. :Product Portfolio
35 GAO RFID Inc. :SWOT Analysis
36 GAO RFID Inc. :Product Portfolio
37 Impinj, Inc. :SWOT Analysis
38 Impinj, Inc. :Product Portfolio
39 Honeywell International Inc. : Product Portfolio
40 Honeywell International Inc. : SWOT Analysis
41 LogiTag Systems, Ltd. : Product Portfolio
42 LogiTag Systems, Ltd. : SWOT Analysis
43 MetraTec GmbH:Product Portfolio
44 MetraTec GmbH:SWOT Analysis
45 Radianse:Product Portfolio
46 Radianse:SWOT Analysis
47 SMARTRAC N.V. :Product Portfolio
48 SMARTRAC N.V. :SWOT Analysis
49 Sonitor RTLS Technologies:Product Portfolio
50 Sonitor RTLS Technologies:SWOT Analysis
51 Stanley Innerspace:Product Portfolio
52 Stanley Innerspace:SWOT Analysis
53 STid Electronic Identification :Product Portfolio
54 STid Electronic Identification :SWOT Analysis
55 Tagsys RFID Group, Inc.:Product Portfolio
56 Tagsys RFID Group, Inc.:SWOT Analysis
57 ThingMagic, Inc.:Product Portfolio
58 ThingMagic, Inc.:SWOT Analysis
59 VIZBEE RFID Solutions: SWOT Analysis
60 WaveMark, Inc :Product Portfolio
61 WaveMark, Inc :SWOT Analysis
At present, Radio Frequency Identification (RFID) technology in healthcare has a potential to create competitive advantage through automatizing and simplifying the collection of data. It helps various hospitals to track assets accurately and real time monitoring of key indicators which further allows higher visibility in the healthcare operations. However, the benefits of RFID technology in healthcare depends largely on how well it integrates within a hospital’s premises. A decision of deployment of RFID technology is entirely a management decision which solely depends on cost-benefit analysis. Moreover, RFID technology needs to be economically beneficial in order to effectively function for long- term purposes.
RFID is an automated device technology which helps in storing as well retrieving data without even scanning the data source. Initially, RFID technology was majorly helpful to improve the supply chain process. However, it further extended its base into manufacturing, retailing, military, traffic management and healthcare among others. Majority of the companies across the globe have experienced exponential growth and possess the capability to further transform business productivity to an advanced level.
The factors driving the growth of RFID technology market in healthcare include price, capability and size. As the price of RFID technology is declining, its demand is extensively increasing across all the verticals including healthcare, retail, transportation and defence among others. However, even with such enormous growth, RFID technology in healthcare market is facing a number of challenges which include security and privacy concerns, large amount of initial installation costs and lack of skilled professionals.
The global healthcare RFID market is anticipated to reach $4.1 billion by 2021 growing at a CAGR of 21.64% during the forecast period between 2017-2021. The growth in RFID in healthcare market over the period 2017-2021 is expected to be primarily supplemented by factors such as increasing need of patient monitoring due to increasing geriatric population, advancement of product development and increasing support by government for adoption of RFID technology. Furthermore, the future of RFID in healthcare market is expected to be favorable on account of impelling demand due to research and development activities being carried out in companies, expanding internet connectivity along with rising rate of mobile adoption.
At present RFID tags and RFID readers leading the components segment in RFID in healthcare. It is expected that RFID tags as well as RFID readers will going to be the forerunner in the forecast period as well. This is generally due to increase in the demand for advanced technology in healthcare across the globe and continuous declining prices of RFID tags. Within application, currently inventory management is showing the largest share in the total revenue of RFID in healthcare. Similar pattern is expected to be maintained in the forecast period as well. The major reason behind this is due to the loss incurred by hospitals in terms of surgical assets misplacement. Moreover, it is expected that in future, number of patients is going to increase who ultimately needs proper medication and care.
The market is dominated by North America and Europe however, Asia-Pacific is expected to grow at the highest rate in the forecast period. The dominance of North American region is attributed to the increasing adoption of RFID based products due to features such as low power consumption and high efficiency. Within Asia-Pacific region, the rapid growth is on account of the support from Government in terms of tax exemptions, huge investment in R&D, rising spending on healthcare sector, along with support from private entities for the installation of RFID based technology in healthcare.
Furthermore, players in RFID in healthcare market have also invested considerably towards R&D for advancement of this market. Market Players such as IMPINJ and Tagsys RFID Group are expected to invest in millions in RFID technology in order to expand their market share. Other leading players such as Dolphin RFID Pvt. Ltd., and ThingMagic, Inc. have also set up separate divisions for R&D in RFID in healthcare to innovate their product offerings and compete with other leading players in the market.
Over the years, most of the well-known players are showing their interest in RFID technology in healthcare market. Players like GAO RFID, IMPINJ, CAEN RFID, STid RFID and Smartrac N.V., among others are investing in RFID technology in healthcare market to a large extent in order to improvise on their products as well as to capture a major market share. Investments into developing economies like India, China and Japan, among others and monitoring of consumables are the major handful of opportunities that RFID technology in healthcare market is lined up with in the coming future. Developed economies including U.S., Germany, France, and U.K., among others have initiated the process of incorporating RFID technology into their healthcare segment. Moreover, with the growing awareness towards health in developing economies (Asia-Pacific), various technological advancements have already been initiated in the healthcare which is further going to increase the demand for RFID technology in the healthcare sector.
North America
U.S.
Canada
Europe
Germany
France
U.K.
Rest of Europe
APAC
China
India
Rest of APAC
RoW
RFID, RFID in Healthcare, Healthcare RFID Market, Radio Frequency Identification Devices, RFID Technology in Healthcare, RFID in Healthcare market
Radio Frequency Identification (RFID) is an automated device technology which helps in storing as well retrieving data without even scanning the data source. Initially, RFID technology was majorly helpful to improve the supply chain process. However, it further extended its base into manufacturing, retailing, military, traffic management, and healthcare, among others. A majority of the companies across the globe increased exponentially and have the capability to further transforming the business productivity to the much-advanced level. BIS Research has acknowledged the major impact of RFID technology in the coming future and has published a market study titled, "Global RFID Market in Healthcare, Analysis & Forecast: 2017 to 2021".
The major factors contributing to the growth of RFID market in healthcare are growing elderly population, increasing need of patient monitoring and advancement of innovative product development and increasing support by government for adoption of RFID technology. Furthermore, the future of RFID in the healthcare market is expected to be favorable on account of impelling demand due to research and development activities being carried out in companies, expanding internet connectivity along with rising rate of mobile adoption.
Over the period, the market has shown an upsurge in the demand for patient care due to increasing old age population. This factor proves to be the key growth driver for this market. However, the market is facing a lot of challenges as well in terms of high installation costs, security and privacy concerns and lack of skilled professionals. Despite the hindrances being faced by the industry, RFID in the healthcare market has a wide range of opportunities ahead. Developing economies comprise of China, India, Brazil, Saudi Arabia, and South Korea, among others, hold immense potential for RFID in the healthcare market. Due to the growing population and large unmet medical needs, these countries are expected to be the potential markets for RFID technology in the healthcare market in the near future.
According to the study, the global RFID in the healthcare market is estimated to grow at a CAGR of 21.64% during 2017-2021 and is anticipated to reach $4.1 billion by 2021. In terms of region, the U.S is the leading market in North America. In terms of application, XX dominated the RFID market in healthcare in 2016. The report constitutes of an extensive study of RFID in the healthcare market. It includes a thorough analysis of different types of components that are extensively being used in deploying RFID technology.
Regulatory bodies have established a significant position in the industry and the future market growth is reliant on a proper framework. On one hand, the regulations will help in the adoption of RFID technology and their applications among the people, on the other hand, they also restrict the unfair practices being adopted in deploying RFID within healthcare. As the industry evolves, the role of consortiums and regulatory bodies becomes pivotal to shape the future trajectory.
BIS Research Report: https://bisresearch.com/industry-report/global-rfid-in-healthcare-market-2021.html
This research study includes an extensive analysis of the RFID in the healthcare market, by components, application, and geographical regions, allowing the researcher to develop a comprehensive outlook of the market. The market report presents a detailed and investigative study of the entire market and provides a comprehensive insight into various forms of developments, trends, and key participants. Some of the leading companies in the market are IMPINJ, Tagsys RFID Group, STid RFID, and ThingMagic, Inc., CAEN RFID srl, and Dolphin RFID Pvt. Ltd., among others.
The new companies are striving hard to file patents and get approvals from regulatory bodies in this growing market and launch innovative products, while established companies are busy in acquiring companies and partnerships with other ecosystem players. The increasing demand for patient monitoring in healthcare upsurge the demand for installing RFID technology within hospitals. The most prominent opportunities for the industry players is the market penetration in emerging markets such as India and China. Currently, a majority of the hospitals in Europe, as well as North America, have installed RFID technology within their healthcare. The old age population is increasing exponentially all over the world, especially in the developing countries, and due to lack of awareness among a majority of the population regarding RFID technology, the growth of the market is getting hampered. Market penetration, establishment and outreach of the key players in the emerging markets, and increasing awareness among the people will serve as a boosting opportunity for the market players to enhance their business in the future.
Key questions addressed in the report:
• What is the size, in terms of revenue, of RFID in Healthcare market in 2016, and growth rate during the forecast period, 2017-2021?
• What are the different type of components for RFID products in Healthcare by respective manufacturers?
• What is the revenue generation of RFID in Healthcare being utilized by different end-use applications in 2016 and their growth prospects?
• How is the increase in a number of RFID Tags affecting the growth of RFID in Healthcare market?
• What is the market size of RFID in Healthcare on the basis of different regions?
• What are the key trends and opportunities in RFID in Healthcare market, pertaining to countries included in different regions?
• How attractive is the market for different stakeholders present in the market by analyzing the futuristic scenario of RFID in Healthcare market?
• What are the major driving forces that tend to increase the demand for RFID technology in Healthcare during the forecast period?
• What are the major challenges inhibiting the growth of the global RFID in Healthcare market?
• What kind of new strategies is being adopted by existing market players to make a mark in the industry?
• What is the competitive strength of key players in the RFID in Healthcare market by analyzing through a market share analysis and competitive benchmarking model?
• Who are the key market players in the market, along with their detailed analysis & profiles?
Awarepoint Corporation
CAEN RFID srl
Dolphin RFID Pvt. Ltd.
Ekahau, Inc.
GAO RFID Inc.
Impinj, Inc.
LogiTag Systems Ltd.
Intermec (Honeywell International Inc.)
MetraTec GmbH
Radianse
SMARTRAC N.V.
Sonitor RTLS Technologies
GLOBAL RFID IN HEALTHCARE MARKET TO REACH $4.1 BILLION BY 2021