RFID in Healthcare

Global RFID in Healthcare Market to Reach US$15.7 Billion by 2030

The global market for RFID in Healthcare estimated at US$6.9 Billion in the year 2024, is expected to reach US$15.7 Billion by 2030, growing at a CAGR of 14.6% over the analysis period 2024-2030. Tags, one of the segments analyzed in the report, is expected to record a 16.1% CAGR and reach US$8.5 Billion by the end of the analysis period. Growth in the Readers segment is estimated at 12.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.9 Billion While China is Forecast to Grow at 17.9% CAGR

The RFID in Healthcare market in the U.S. is estimated at US$1.9 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.8 Billion by the year 2030 trailing a CAGR of 17.9% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 11.2% and 13.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 13.0% CAGR.

Global RFID in Healthcare Market - Key Trends & Drivers Summarized

Radio Frequency Identification (RFID) technology has revolutionized the healthcare industry by providing a robust solution for tracking and managing medical equipment, pharmaceuticals, and patient information. RFID systems use electromagnetic fields to automatically identify and track tags attached to objects, offering a high level of accuracy and efficiency. In healthcare settings, RFID tags are used to monitor the location and status of critical medical assets, ensuring that equipment is readily available when needed and reducing instances of loss or theft. Additionally, RFID technology enhances inventory management of pharmaceuticals by enabling real-time tracking of medication stocks, which helps in preventing shortages and ensuring the timely administration of drugs.

The integration of RFID technology into healthcare processes has significantly improved patient care and operational efficiency.  Driven by its ability to offer safe and superior solutions to manage critical and sensitive data for end users, RFID is currently being used by various healthcare service providers. For instance, RFID wristbands are used for patient identification, ensuring that patients receive the correct treatments and medications. These wristbands can be scanned to quickly access a patient’s medical history, reducing errors and improving the speed of care delivery. Furthermore, RFID systems are employed to streamline surgical procedures by tracking surgical instruments, thus preventing the occurrence of retained surgical items. The technology also supports infection control measures by monitoring the sterilization status of medical tools and ensuring compliance with hygiene protocols. This ability to automate and verify numerous aspects of healthcare operations enhances the overall quality and safety of patient care.

The growth in the RFID in healthcare market is driven by several factors, including advancements in RFID technology, the increasing need for efficient healthcare management systems, and rising regulatory requirements for patient safety. Technological innovations have made RFID systems more affordable and easier to implement, broadening their adoption across various healthcare facilities. The growing emphasis on reducing medical errors and improving patient outcomes has led to greater investment in RFID solutions. Additionally, regulatory bodies are mandating stricter tracking and management of medical devices and pharmaceuticals, which is further propelling the demand for RFID technology. The surge in the number of patients and the need for efficient workflow management in hospitals and clinics are also significant drivers. Moreover, RFID is also being adopted on account of its role in robust tracking systems for managing medical supplies and ensuring patient safety.

SCOPE OF STUDY:

The report analyzes the RFID in Healthcare market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Type (Tags, Readers, Software, Other Types); Application (Pharmaceutical Tracking, Patient Tracking, Asset Tracking, Other Applications)

Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Select Competitors (Total 161 Featured) -

• 3M Company
• Cardinal Health, Inc.
• Accenture PLC
• Bartronics India Ltd.
• Cadi Scientific Pte., Ltd.
• Ascendent ID, Inc.
• Argent International, Inc.
• Bartec Auto ID Ltd.
• Applied Wireless IDentifications Group (AWID), Inc.
• Biolog-id
• Black Creek Integrated Systems Corporation
• Bluebird Inc.
• ACC Systems, Inc.
• Beijing ChinaReader Technology CO.,Ltd
• CDVI Group

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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