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RFID Blood Monitoring Systems Market Poised To Touch A Value of US$ 900 Mn in 2026

Jan 12, 2019

Jan 12, 2019 (WiredRelease via COMTEX News Network) -- A Latest market study report by MarketResearch.Biz named “Global RFID Blood Monitoring Systems Market product type, end user, and region” and Global Forecast 2018-2027 prospects drivers and constraints as well as factors contributing to the growth of the global RFID Blood Monitoring Systems market. The report serves insightful and detailed information regarding the various key players operating in the RFID Blood Monitoring Systems market 2018, their financial, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.

The Global RFID Blood Monitoring Systems Market is projected to reach US$ 900 Mn in 2026 , growing at a CAGR of 23.20% from 2018 to 2027.

RFID blood monitoring systems are used in healthcare facilities for proper and accurate tracking of blood and blood products. These devices are widely used owing to their ability to communicate and send information over a distance as compared to other tracking systems that need proper line of sight for information transfer. RFID tags contain electronically stored information of products they are attached to, and can be used for tracking objects. Moreover, as blood and blood products need proper monitoring so as to avoid any consequences from inaccurate administration in patients, these systems are being increasingly adopted in healthcare facilities across the globe.

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Global RFID Blood Monitoring Systems Market by Top Leading Companies (2018-2027):

Biolog IDS3Edge Inc.Mediware Information System Inc.Terso Solutions, Inc.SATO VICINITY PTY LTD.Mobile Aspects Inc.Logi-Tag SystemsNordic IDWaveMark, Inc.B Medical Systems S. r.l.RFID Global Solution, Inc.

The RFID Blood Monitoring Systems Market is segmented on the Basis of product type, end user, and region

Global RFID blood monitoring systems segmentation, by product type:

RFID SystemsRFID Tags

Global RFID blood monitoring systems segmentation, by end user:

Blood BanksHospitalsResearch Labs

The RFID tags segment is anticipated to register highest CAGR of around 23.0%, as compared to the RFID systems segments in the global RFID blood monitoring systems market. This can be attributed to technological developments in RFID tags and commercial availability of advanced RFID tags that are based on nano chip technologies. The hospitals segment is projected to account for second-highest revenue share contribution in the global market, and register a CAGR of around 23.0% over the forecast period. This can be attributed to increasing adoption of RFID technologies in hospitals for various applications especially, to monitor use of blood and blood products.

According to the report, several advantages of RFID blood monitoring systems over conventional tracking systems such as barcodes and manual efforts is a major factor driving growth of the global RFID blood monitoring systems market. Also, technological advancements in RFID systems and rising demand for reduction of human errors in labelling and use of blood and blood products are other major factors boosting growth of the global RFID blood monitoring systems market over the forecast period. However, high costs associated with procurement and use of RFID blood monitoring systems is a major factor restraining growth of the global RFID blood monitoring systems market. Additionally, several issues related with use of RFID systems especially security related concerns is another major factor expected to limit growth of the global market over the forecast period.

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Geographically, the report is categorized into different main sectors, with manufacture, consumption, revenue (million USD), market share and evolution measure of RFID Blood Monitoring Systems in these regions, from 2018 to 2027 (predicted), covering,

– North America (United States, Canada and Mexico)

– Europe (Germany, France, UK, Russia and Italy)

– Asia-Pacific (China, India, Japan, Korea, and Southeast Asia)

– South America (Brazil, Argentina, Columbia)

– Middle East and Africa (UAE, Saudi Arabia, Nigeria, Egypt, and South Africa)

The Europe market for RFID blood monitoring systems is expected to account for second-highest revenue share in the global market, with an estimated value of US$ 37.5 million in 2017. This is attributed to increasing adoption of RFID blood monitoring systems and presence of high number of hospitals and blood banks in countries in the region.

The market in Asia Pacific is projected to register highest CAGR of around 24.0% over the forecast period, and is expected to be valued around US$ 200.0 Mn in 2026. Increasing number of government initiatives for development of healthcare facilities in emerging economies such as China, Japan, and India and increasing adoption of RFID technologies in various industries are key factors expected to propel growth of the Asia Pacific market over the forecast period.

Available Customizations

With the given market information, MarketResearch.Biz offers customizations according to the company-specific requirements. The following customization options are available for the report:

-Region-wise and country-wise study of the market, and by various segments.

-Detailed study and company profiles of additional market players.

SOURCE: Comtex

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