Infinium Global Research RFID Blood Monitoring System Market | Page 2

Infinium Global Research has added a new report on Global RFID Blood Monitoring System Market. The report
predicts the market size of RFID Blood Monitoring System is expected to reach XX billion by 2023.
Radio frequency identification or RFID is a technology that enables the wireless transfer of data via electromagnetic
fields. RFID circuits or tag are either self-powered or powered irregularly through radiation from a distance. RFID
tags are attached to blood samples to ensure easy monitoring of the samples in hospitals, blood banks and diagnostic
centers. RFID blood monitoring system includes blood refrigerators and freezers.
Market Insights
The global RFID blood monitoring system market is projected to grow with a CAGR of 21% to 22% over the forecast
year 2017-2023. Increasing blood transfusions, increasing awareness among hospitals and blood banks in RFID-
enabled blood storage, robust guidelines enabling use of RFID for blood monitoring and increasing incidence of
chronic disease are the key factors driving the growth of this market. Furthermore, stringent government regulations
and high initial cost associated with the installation and maintenance of RFID-enabled systems are the prime factors
restraining the growth of this market. Moreover, growing adoption of RFID-based solutions for efficient blood
monitoring due to which key vendors are pursuing organic growth strategies are expected to bring more
opportunities to this market which in turn will further fuel the growth of this market.
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Segments Covered:
The report segments the RFID blood monitoring system market by product type and end user. Market segmentation
based on product type includes systems and tags. Moreover, the global RFID blood monitoring system market based
on end users is segmented into blood banks and hospital blood centers.