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RFID Blood Monitoring Systems Market Product Type Aaron Ekblad Panthers Jersey , Strength and Opportunity Assessment Forecast by 2022
by amishra0234 · December 3, 2018


Industry Insights


The Global RFID Blood Monitoring Systems Market size was estimated at USD 104 million in 2014. Rising demand for efficient management system regarding blood & related products and growing awareness pertaining to minimize transfusion errors in medical process are some of the key factors driving RFID blood monitoring systems market. Rapidly consolidating healthcare sector and increase in volume of blood & related products inventory is further boosting up the demand for this technology in healthcare industry.


Technological advancements in RFID systems will not only provide identification details but also provide location information on a real time basis, which will further boost demand among end-users for these devices. Increase in R&D activities for the development of new management solutions and rising concerns for patient safety is expected to propel the growth of RFID blood monitoring systems. Growing adoption of RFID technologies by the hospitals and blood banks particularly in blood freezers and refrigerators further surges demand for this technology.


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Some of the other factors driving the growth of the market are favorable regulatory policies for the approval of RFID technologies and rising trend of privatization of healthcare infrastructure that led to the introduction of modern technologies in the healthcare settings. In 2013, FDA approved iTrace which is a RFID-based tracking system that can be used in blood banks systems.


Product Insights


Radio frequency identification held majority of the market share in terms of revenue Keith Yandle Panthers Jersey , with over USD 60 million in 2014 pertaining to the factors such as growing concerns for patient safety, increasing adoption of smart medical devices, favorable government initiatives, and rising need for reduction in healthcare cost. In addition Roberto Luongo Panthers Jersey , various application of RFID in healthcare system further drive the demand over the forecast period.


Radiofrequency identification tags held the significant market share owing to the demand of technologically advanced products such as alternative tags and sensory tags designs that uses Smart Active Label Technology (SAL) which is less susceptible to metal and liquid. In addition, it maximizes the profitability of medical facilities that is expected to further boost up its demand.


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Regional Outlook (Revenue, USD Million, 2012 – 2022)


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