Zion Market Research Global RFID in Healthcare Market, 2015–2021 | Page 3

RFID in Healthcare Market
medication due to unhealthy storage facilities and methods, result in revenue and reputation
loss; hence, a system is needed to manage healthcare functions well. In addition, this system is
cost-effective. Globally, people are getting aware about their health and are seeking better and
simple facilities of treatment at reasonable costs. This is forcing many companies and healthcare
organizations to provide their clients with best facilities and accurate real-time data and healthy
treatment conditions. All this is adding to the growth of the market worldwide. However, lack of
awareness about RFID installed base of barcode systems, and lack of standardization are some
of the factors restraining the growth of the global RFID in the healthcare market.
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The global RFID in the healthcare market is segmented on the basis of components into tags,
readers, cabinets, and printers. On the basis of applications, the global market is segmented as
equipment tracking, supply chain and medical report, medicine tracking, people identification
and tracking, and samples and blood transfer tracking.
The US is the leading the market for RFID in the healthcare market. This trend is followed by
Europe owing to the government initiative, need for reduction in cost, and more efficiency. Asian
countries are expected to grow with high rate in the RFID in healthcare market owing to lower
manufacturing costs and awareness about the use of technology in the healthcare sector.
Some of the key players dominating the global RFID in healthcare market are AdvantaPure, IBM,
Hitachi Ltd., Motorola, Siemens, Alvin System, American RFID Solutions, and 3M.