Radio Frequency Identification (RFID) is an identification technology that is wireless and uses radiofrequency electromagnetic fields for the use of transferring data for automatically tracking and identifying tags attached to various objects. Tags are mainly useful for product identification and product taking. The pharmaceutical and healthcare sectors are mainly using RFID nowadays. Thus, RFID technology has made a significant impact on the healthcare industry globally. As patient safety is the concern, RFID technology is likely to drive the market as the technology ensures that every patient should be treated properly and get the benefits they pay for. To increase patient safety and care with security there is immense potential for the RFID blood monitoring systems to get utilized in the healthcare industry.
COVID-19 Scenario Analysis
- The current concern of the spread of the infection of the COVID-19 outbreak is predicted to have a positive impact for the short term on the RFID blood monitoring system market. Pressure on the healthcare infrastructure due to the COVID-19 crisis has led to an increase in demand for the blood monitoring system.
- This technology has been found useful in the wake of crisis for the doctors to maintain physical distance from the infected patients and reduce the rate of transmission. RFID in healthcare along with growing digitization in developed and developing countries is likely to drive the market in the forecasted period.
- Transfusion therapy is an important part of the treatment of diseases and blood disorders. Therapies such as platelet transfusion, plasma transfusions and RBC transfusion are widely accepted and are evolving continuously to meet the needs of the landscape of the changing disease.
- The rise in transfusion diseases is likely because of the increase in the number of infectious diseases, trauma cases, rising number of accidents.
- Furthermore, the rising of the reoccurrence of cancer patients that require a large amount of blood for chemotherapy is likely to increase the growth of the blood transfusion therapies. Additionally, inherited blood diseases, such as sickle cell disease, glucose-6-phosphate dehydrogenase deficiency, and thalassemia are infecting a lot of people.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact AnalysisThe healthcare industry is one of the most regulated industries which is required to adopt compliance criteria of product management at every stage. RFID blood monitoring systems have the strength of providing seamless services of healthcare that also improve the safety of the patient worldwide. Efficiency inventory management by these systems is ensured by reducing the chances of human errors, increase labor efficiency and other benefits also.
Driven by many factors the demand for the RFID Blood monitoring system is expected to stimulate in hospitals blood banks and blood centers, thus expecting a strong surge shortly. The latest technological advancements have led to reduce human errors and efforts and to control the maintenance of the inventory and documents, thus assist the management of the patient, which has proved to be helpful in the market to gain significant impetus in the previous years.
Key Benefits of the Report
- This study presents the analytical depiction of the global RIFD blood monitoring system market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global RIFD blood monitoring system market share.
- The current market is quantitatively analyzed to highlight the global RIFD blood monitoring system market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global RIFD blood monitoring system market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Report:
- What are the leading market players active in the RIFD blood monitoring system market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Report Tag: Radio Frequency Identification, Electronic Medical Device, Patient Tracking
RIFD Blood Monitoring System Market Report Highlights
Key Market Players
metraTec GmbH., Zebra Technologies Corporation, Cardinal Health, Biolog-id, Terso Solutions, CenTrak, Tagsys RFID, Impinj, Pepperl+Fuchs, SpaceCode, Mobile Aspects, Logi Tag