Global RFID in Healthcare Market 2023-2030

Global RFID in Healthcare Market 2023-2030

Global RFID in Healthcare Market Size, Share & Trends Analysis Report by Product (Systems and Software, Tags), by Application (Blood Tracking, Patient Tracking, Pharmaceutical Tracking, Asset Tracking), and by End-Users (Hospitals and Clinics, Pharmaceutical), Forecast Period (2023-2030)

The global RFID in healthcare market is anticipated to grow at a CAGR of 15.2% during the forecast period (2023-2030). Inventory management in pharmacies, hospitals, and biotech firms and also improved patient security by healthcare providers are the driving factor for the growth of Improvement RFID in the Healthcare market. According to the UPS Healthcare Supply Chain Vital Signs US Hospitals Study, The operating room accounts for between 40.0% to 60.0% percent of a hospital's overall supply spending. Tissues and biologics are frequently used to manage temperature in these areas, and they also have higher compliance requirements. For instance, in April 2023, Terso Solutions, Inc. implemented its TrackCore and 500th Terso Solutions smart enclosure. The adoption of this RFID enabled technology continues to accelerate throughout U.S. healthcare systems.

Segmental Outlook

The global RFID in Healthcare market is segmented on the product, application, and end-users. Based on the product, the market is sub-segmented into systems and software, tags. Based on the application, the market is sub-segmented into blood tracking, patient tracking, pharmaceutical tracking, asset tracking. Further, on the basis of end-users, the market is sub-segmented into hospitals & clinics, and pharmaceutical. Among the end-users, the pharmaceutical sub-segment is anticipated to hold a considerable share of the market owing to the rise in damaged reputations and illegitimate product-liability cases. Product marking plays a key role in anti-counterfeiting measures. Tiny transponders in RFID labels store individual product information.

The Pharmaceutical Tracking Sub-Segment is Anticipated to Hold a Considerable Share of the Global RFID in Healthcare Market

Among the application, the pharmaceutical tracking sub-segment is expected to hold a considerable share of the global RFID in Healthcare market. The increase in the use of RFID in tracking pharmaceuticals is attributed to the segmental expansion. provides the pharmaceutical business with a distinctive and innovative method of inventory management. The compact design, combined with the sensitivity of the U9 chip, creates an inlay that caters perfectly to the demands of the pharmaceutical industry’s operations. For instance, in June 2021, SML RFID's launched line of high-performance RFID the GB32U9, the newest RFID tags specifically made for unit-of-use pharmaceuticals in pharmaceutical applications, was unveiled as the company's first DoseID certified inlay. The GB32U9 is made to address the challenges of tracking liquid and tiny products in the pharmaceutical business.

Regional Outlook

The global RFID in Healthcare market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, Asia- Pacific is anticipated to hold a prominent share of the market across the globe, owing to the refining healthcare infrastructure, increasing investments in the healthcare sector, and developments by market participants in the region. The key market players including Jadak Tech., Perfect RFID., Rasilant Technologies., Ripro Corp. Yodobashi Camera Co., Ltd. and others.

The North America Region is Expected to Grow at a Significant CAGR in the Global RFID in Healthcare Market

Among all regions, the North Ameria regions is anticipated to grow at a considerable CAGR over the forecast period. The availability of healthcare infrastructure and the development of automated processes in hospitals and pharmacies in the region is driving regional growth. Furthermore, the region has witnessed the fastest advancements, owing to the increasing government emphasis on implementing novel innovations and the best treatment options from a developed country. According to the US Department of Homeland Security, RFID technology is used to improve security at US borders and ports of entry. RFID technology can locate, track, and authenticate the movements of people and objects as they enter and depart the US. Furthermore, stepping up non-profit research and development efforts and adopting strict methods such as product expansion, acquisitions, and partnerships for the development of advanced technologies to support RFID in healthcare also contribute to the market's growth.

Market Players Outlook

The major companies serving the global RFID in healthcare market include Alien Technology, LLC, American RFID Solutions, Avery Dennison Corp., GAO RFID Inc., Impinj, Inc. Zebra Technologies Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in March 2023, AmerisourceBergen and Health Care Logistics® Inc. (HCL®) partnered to streamline drug replenishment and raise patient safety throughout the pharmaceutical use process. Through this cooperation, consumers of RFID-tagged products from AmerisourceBergen can access HCL's Stat Stock® inventory management system and rapidly track things across their facilities.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global RFID in healthcare market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.