The global RFID in healthcare market size is estimated to be USD 3,577.1 million in 2021 and is expected to witness a CAGR of 21.80% during the forecast period. Rising attention on restructuring the healthcare value chain, minimizing operational costs, need for efficient management of supply chain, and prerequisite of improvising efficiency and quality of healthcare services are key drivers for global RFID in healthcare market growth. Moreover, rise in healthcare cost, error in recording and healthcare data management, increase in patient real-time monitoring, and growing healthcare data analytics are other drivers propelling the market growth. However, high implementation costs and lack of adequate training programs in remote locations are expected to restrain the market growth.

By Product

Based on products, the market is segmented into tags, and system & software. Tags segment is sub-segmented into patient tracking, asset tracking, blood tracking, pharmaceutical tracking, and others. The system & software is divided into patient tracking, asset tracking, blood tracking, pharmaceutical tracking, and others. In 2021, the tags segment held the maximum revenue share owing to rising awareness for the benefits of adoption of tags in healthcare system such as real-time asset monitoring, convenient inventory management, and quicker data record processing. This segment is expected to witness fastest growth owing to rising penetration of RFID technology with existing system.

By Applications

Based on application, the market is categorized into patient tracking, asset tracking, blood tracking, pharmaceutical tracking, and others. In 2021, the pharmaceutical tracking segment accounted for a significant revenue share due to the rising incidence of drug adulteration and counterfeiting worldwide. Wide adoption of RFID systems in the pharmaceutical sector enables pharmaceutical organizations, medical supply chain stakeholders, and patients to identify the quality and originality of drugs, thereby protecting them from any hazard to their health. The patient tracking segment is anticipated to grow at the fastest CAGR during the forecast period due to the increasing need for attaining optimum hospital management efficiency. Adoption of RFID in hospitals and acute surgical centers enable proper scheduling of operating and diagnostic room.

Regional Insights

In 2021, North America accounted for the highest revenue share in the world and is expected to maintain its dominance during the forecast period. This can be attributed to stringent government regulations for patient safety, increase in number of hospitals, standardization for tracking medical devices, existence of advanced healthcare infrastructure, and high acceptance of modern technologies. In the U.S., increased awareness for RFID technology application is driving the region’s market growth.

Asia Pacific is expected to exhibit the fastest CAGR over the forecast period owing to the presence of large medical companies needing efficient supply chain management system. Factors such as increasing healthcare expenditure, advancements in healthcare infrastructure, and growth in number of patients suffering from chronic illness in the region are expected to drive the market growth.

Competitor Insights

Some of the major companies in the RFID in healthcare market are Zebra Technologies Corporation (U.S.), LogiTag Systems (Israel), Halma plc (U.K.), Biolog-id (France), Hitachi, Ltd. (Japan), Pepperl+Fuchs (Germany), metraTec GmbH (Germany), Cardinal Health, Inc. (U.S.), Promega Corporation (U.S.), and Shenzhen Invengo Information (China). The leading players have adopted strategic collaborations, mergers & acquisitions, and novel technology development approaches to capture the market share.

This exhaustive research report focuses on market size and forecast at global, segmental, regional and country-level along with key market trends and dynamics from 2021 to 2029. The RFID in healthcare market report is categorized into the following segments and subsegments:

RFID in Healthcare Market, By Products (Revenue, 2021-2029, USD Million)

RFID in Healthcare Market, By Applications (Revenue, 2021-2029, USD Million)

RFID in Healthcare Market, By Region (Revenue, 2021-2029, USD Million)

RFID in Healthcare Market, By Region (Revenue, 2021-2029, USD Million)

Key Parameters	Details
Base Year	2021
Forecast Period	2022-2029
Study Coverage	Global and regional market size and revenue forecast Segment market size and revenue forecast at global, regional, and country level Competitive landscape (company share analysis, company profiles, recent development, competitive map analysis) Conclusion and recommendations
Qualitative Analysis	Market drivers Market restraints Market opportunities Recent market trends Market challenges Porter’s Five Forces analysis PEST analysis Value-chain analysis COVID-19 impact analysis
Regional Market Scope	North America (U.S. and Canada) Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe) Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC) Latin America (Brazil, Mexico, Argentina, Rest of LATAM) MEA (South Africa, GCC, Rest of MEA)
Company Profiles	Exhaustive profiles of top 10 players 50+ other major players listing
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