overall market for RFID modules is expected to grow rapidly. North
America stands out as a prominent leader in the healthcare application
of RFID. Large number of tier-1 and tier-2 hospitals, increasing
scrutiny due to medical device theft, incidences of drug counterfeiting
and need for more efficient supply chain management are other
reasons driving the market growth. Impact of economic crises of 2008
has greatly impacted the growth of RFID market in the European
countries. Budget cuts on healthcare sector have reduced the overall
hospital expenditure. Anticipating economic recovery in the near
future, the market is expected to gain momentum in the forecast
period. China has emerged as the home for low cost RFID component
OEM service providers. With consistent rise in RFID component
suppliers in China, suppliers in Europe and North America are facing
tough competition in the market. China is one of the largest suppliers
of UHF and HF tags.