Global RFID Blood Refrigerator and Freezer Market Size study & Forecast, by Type (RFID Refrigerators, RFID Freezers), by Application (Hospitals and Diagnostic Centres, Blood Banks, Others) and Regional Analysis, 2023-2030

Global RFID Blood Refrigerator and Freezer Market Size study & Forecast, by Type (RFID Refrigerators, RFID Freezers), by Application (Hospitals and Diagnostic Centres, Blood Banks, Others) and Regional Analysis, 2023-2030

Global RFID Blood Refrigerator and Freezer Market is valued at approximately USD 251.18 million in 2022 and is anticipated to grow with a CAGR of more than 15.91% over the forecast period 2023-2030. RFID Blood Refrigerators and Freezers are specialized storage systems designed for blood and blood products, integrating RFID technology for improved tracking and management. These systems utilize RFID tags attached to individual blood bags or containers, which can be wirelessly read by RFID readers. The captured data, including unique identification numbers, is transmitted to a central database or monitoring system, enabling real-time inventory management and traceability. The benefits of RFID Blood Refrigerators and Freezers include enhanced inventory control, accurate tracking, improved traceability, temperature monitoring, and time efficiency. These systems play a crucial role in ensuring the safety, quality, and efficient management of blood products, thus benefiting healthcare facilities and ultimately enhancing patient care. Additionally, the increasing prevalence of chronic diseases and rising medical tourism for better and affordable healthcare treatment are anticipated to be the growth drivers of this market. Furthermore, the growing healthcare industry and emerging global markets are expected to fuel the market space.

According to the World Health Organization (WHO) in 2022, The impact of noncommunicable diseases (NCDs) on the Global RFID Blood Refrigerator and Freezer Market is significant. With 17 million premature NCD-related deaths occurring before the age of 70, the demand for blood and its storage solutions is expected to rise. Proper management and storage of blood products, facilitated by RFID blood refrigerators and freezers, become crucial in ensuring a safe and reliable blood supply. The Global RFID Blood Refrigerator and Freezer Market has the opportunity to support healthcare systems in addressing the challenges posed by NCDs by providing efficient and secure blood storage solutions. According to India Brand Equity Market (IBEF) in 2020, India emerged as a prominent destination for medical tourism, attracting a significant number of foreign visitors seeking medical treatment. With around 186,644 Foreign Tourist Arrivals (FTAs), accounting for 7% of the total FTAs, India's appeal lies in its affordable treatment costs, cultural similarities, language accessibility, and access to specialized procedures. The Global RFID Blood Refrigerator and Freezer Market can contribute to the growth of medical tourism by providing secure storage solutions for blood products, ensuring the availability of high-quality healthcare services for international patients in India. However, the high cost of maintenance and data security & privacy concerns may hamper the growth of the market during the forecasted period of 2023-2030.

The key regions considered for the Global RFID Blood Refrigerator and Freezer Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is the dominating region in the global RFID Blood Refrigerator and Freezer market due to factors such as its advanced healthcare infrastructure, stringent regulatory standards, emphasis on patient safety and early adoption of innovative healthcare technologies. The region's well-established hospitals, blood banks, and healthcare systems provide a solid foundation for the adoption of RFID technology. Stringent regulatory standards and a focus on patient safety drive the demand for advanced blood storage solutions. Asia Pacific is the fastest-growing region in the global RFID Blood Refrigerator and Freezer market due to its rapidly expanding healthcare infrastructure, increasing awareness and adoption of advanced technologies government initiatives, and the presence of emerging economies. The region's growing population, urbanization, and healthcare expenditure are driving the demand for efficient blood storage solutions. With these factors combined, Asia Pacific is experiencing significant growth in the adoption of RFID technology for blood storage and traceability.

Major market player included in this report are:
Angelantoni Life Science Srl
Biomed-Global PTE. Ltd.
Cardinal Health Inc.
Qingdao Haier Biomedical Co. Ltd.
Rollex Group
SATO Vicinity PTY Ltd.
Spacecode Technologies
Terso Solutions Inc.
Thalheimer Kühlung GmbH & Co KG
Venture Research Inc.

Recent Developments in the Market:
In October 2022, Biolog-id, a leading provider of RFID solutions, introduced an RFID kit tailored specifically for organizations dealing with high volumes of Red Blood Cells (RBC). The company has successfully conducted market validation, and the newly launched HD kit is now being implemented at multiple customer sites, showcasing its ability to effectively support inventory management even in the most complex and demanding environments.

Global RFID Blood Refrigerator and Freezer Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered – Type, Application, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:
RFID Refrigerators
RFID Freezers

By Application:
Hospitals and Diagnostic Centres
Blood Banks
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies
Angelantoni Life Science Srl
Biomed-Global PTE. Ltd.
Cardinal Health Inc.
Qingdao Haier Biomedical Co. Ltd.
Rollex Group
SATO Vicinity PTY Ltd.
Spacecode Technologies
Terso Solutions Inc.
Thalheimer Kühlung GmbH & Co KG
Venture Research Inc.


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