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Global RFID Blood Monitoring Systems Market 2016-2020

Global RFID Blood Monitoring Systems Market 2016-2020



ABSTRACTAbout RFID Blood Monitoring Systems

RFID is a technology that works on the basis of an electronic circuit or tag. These are either self-powered (using a battery) or powered intermittently through radiation from a distance. These devices can send information to a reader placed at a distance. The tags are plain antennae bonded to a silicon chip placed inside a plastic or glass case. RFID tags contain electronically stored information, which can be used for tracking objects. The healthcare industry is becoming aware of the several uses of RFID, especially to promote efficiency in the tracking and monitoring of products and devices and prevent manual error. RFID blood monitoring systems include blood refrigerators and freezers.

Technavio’s analysts forecast the global RFID blood monitoring systems market to grow at a CAGR of 22.96% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global RFID blood monitoring systems market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of RFID blood monitoring systems to hospitals, blood banks, and research laboratories.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global RFID Blood Monitoring Systems Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Biolog-Id
  • Mediware Information Systems
  • S3Edge
  • SATO Vicinity
  • Terso Solutions
Other prominent vendors
  • Honeywell
  • LogiTag
  • Mobile Aspects
  • Nordic ID
  • Solstice Medical
  • Stanley Healthcare
  • TAGSY RFID
  • WaveMark
  • Zebra Technologies
Market driver
  • Robust guidelines enabling use of RFID for blood monitoring
  • For a full, detailed list, view our report
Market challenge
  • High initial investment and maintenance cost
  • For a full, detailed list, view our report
Market trend
  • Growing adoption of RFID-based solutions for efficient blood monitoring
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global RFID Blood Monitoring Systems Market 2016-2020

Technavio recognizes the following companies as the key players in the global RFID blood monitoring systems market: Biolog-Id, Mediware Information Systems, S3Edge, SATO Vicinity, and Terso Solutions.

Other Prominent Vendors in the market are: Honeywell, LogiTag, Mobile Aspects, Nordic ID, Solstice Medical, Stanley Healthcare, TAGSY RFID, WaveMark, and Zebra Technologies.

Commenting on the report, an analyst from Technavio’s team said: “Growing adoption of RFID-based solutions for efficient blood monitoring is an important trend gaining traction in the market. The industry has been witnessing a growing use of RFID-based solutions to improve efficiency. For instance, in May 2016, Aegis Sciences Corporation employed an RFID-based solution to monitor the status of blood and urine samples. In May 2016, the University of Tennessee Medical Centre also expanded its use of RFID within its 36 operating rooms. In March 2016, NSW Health Pathology that operates five clinical and scientific networks, deployed RFID technology at a blood bank it runs at the Liverpool Hospital, Sydney, Australia. It will allow the hospital to track blood products throughout the process of the supply chain. The increasing adoption of RFID technology for blood monitoring will fuel the market growth.”

According to the report, robust guidelines enabling use of RFID for blood monitoring is a key driver contributing to this market’s growth. The International Society of Blood Transfusion (ISBT) Working Party on Information Technology voted in 2006 to form a task force on RFID to review the state of RFID development and recommend guidelines for the application of RFID in transfusion medicine. The guidelines cover the use of RFID in the blood product supply chain from bag manufacturing to the donor and the individual. ISBT128 provides data structures related to manufacturers of blood bags, namely the container lot number, container manufacturer and catalog number, and the expiry date. Eventually in 2007, the Transfusion Medicine RFID Consortium was formed to research the applicability of RFID methods and devices to identify and track blood products from the point of collection and distribution to final disposition or transfusion. Also, in May 2013, the US FDA approved the use of a RFID device, iTrace, to store and track the manufacturing information of blood products including the collection, processing, and labeling of the component. Such initiatives will support market growth during the forecast period.

Further, the report states that high initial investment and maintenance cost is a major challenge this market is facing. The high initial costs of RFID systems have restricted adoption of these devices. The start-up costs of RFID implementation in an 800-bed hospital will be in the range of $20,000 to $1 million, depending on the requirement. Also, according to the College of American Pathologists, RFID tags were 10-15 times more expensive than barcode systems. A passive tag costs between $0.1 (10 cents) and $0.5 (50 cents), while active tags are priced between 50 cents and $50. This has resulted in the slow adoption of RFID in blood monitoring. Another reason for slow adoption of RFID in hospitals is high maintenance costs. These factors will have a significant impact on the growth of the market.

Companies Mentioned

Biolog-Id, Mediware Information Systems, S3Edge, SATO Vicinity, Terso Solutions, Honeywell, LogiTag, Mobile Aspects, Nordic ID, Solstice Medical, Stanley Healthcare, TAGSY RFID, WaveMark, Zebra Technologies.

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
    • RFID in blood centers
      • Table Benefits and barriers to adoption of RFID for blood pressure monitoring in healthcare industry
      • Table RFID-based blood monitoring in blood banks
    • Biopreservation
      • Table Types of biopreservation storage methods
    • Storage conditions of blood samples
    • Controlled room temperature
    • Refrigeration
    • Frozen
    • Ultra-low temperature
    • Cryogenic LN2
      • Table Storage temperature preference for various samples
  • Blood bank funding and financial stability
    • Moving toward cost recovery model
      • Table Revenue models of blood banks
  • Harmonization of biobanking/blood banking
    • Table Organizations and initiatives toward biobank/blood bank harmonization
  • Market landscape
    • Market overview
      • Table Global RFID blood monitoring systems market snapshot: Developing and emerging markets
    • Market size and forecast
      • Table Global RFID blood monitoring systems market 2015-2020 ($ millions)
      • Table Opportunity analysis of global RFID blood monitoring systems market 2015
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by product type
    • Table Global RFID blood monitoring systems market by product type 2015 and 2020
    • Table Global RFID blood monitoring systems market segmentation by product type 2015
    • Table Global RFID blood monitoring systems market 2015-2020 ($ millions)
    • Table Global RFID blood monitoring systems market 2015-2020 ($ millions)
    • RFID systems
      • Table Global RFID blood monitoring systems market by RFID systems 2015-2020 ($ millions)
      • Table Opportunity analysis of global RFID blood monitoring systems by RFID systems market 2015
    • RFID tags
      • Table Global RFID blood monitoring systems market by RFID tags 2015-2020 ($ millions)
      • Table Opportunity analysis for global RFID tags market 2015
  • Geographical segmentation
    • Table Global RFID blood monitoring systems market by geography 2015
    • Table Global RFID blood monitoring systems market by geography 2020
    • Table Global RFID blood monitoring systems market analysis by geography 2015-2020
    • Table RFID blood monitoring systems market by geography 2015-2020 ($ millions)
    • Table RFID blood monitoring systems market by geography 2015-2020
    • RFID blood monitoring systems market in Americas
      • Table RFID blood monitoring systems market in Americas 2015-2020 ($ millions)
    • RFID blood monitoring systems market in EMEA
      • Table RFID blood monitoring systems market in EMEA 2015-2020 ($ millions)
    • RFID blood monitoring systems market in APAC
      • Table RFID blood monitoring systems market in APAC 2015-2020 ($ millions)
  • Market drivers
    • Growing need to reduce errors during blood transfusions
      • Table Global blood transfusion errors 2015
    • Increased advantages of RFID over barcode scanners driving adoption
      • Table RFID versus barcode scanners
    • Robust guidelines enabling use of RFID for blood monitoring
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • High initial investment and maintenance cost
    • Data security issues
    • Lack of public trust on government or industry-sponsored blood storage research
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Growing adoption of RFID-based solutions for efficient blood monitoring
    • Increasing volume of blood storage inventory driving demand for RFID systems
    • Improvisation of supply chain management through RFID
  • Vendor landscape
    • Competitive scenario
      • Table Key focus areas of vendors to enhance quality of products
    • Key news
  • Key vendor analysis
    • Biolog-Id
      • Table Biolog-Id: Metrics analysis
    • Mediware Information Systems
      • Table Mediware Information Systems: Metrics analysis
    • S3Edge
      • Table S3Edge: Metrics analysis
    • SATO Vicinity
      • Table SATO Vicinity: Metrics analysis
    • Terso Solutions
      • Table Terso Solutions: Metrics analysis
    • Other prominent vendors
  • Appendix
    • List of abbreviations
  • Explore Technavio

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