Global RFID Blood Refrigerator and Freezer Market 2016-2020
About RFID Blood
RFID blood storage solutions include blood refrigerators and freezers that are useful in minimizing technical errors and monitoring of blood products. They provide efficient storage and accurate tracking of blood samples, thereby increasing operational efficiency.
Technavio’s analysts forecast the global RFID blood refrigerator and freezer market to grow at a CAGR of 22% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global RFID blood refrigerator and freezer market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of RFID blood storage solutions such as refrigerators and freezers (including readers and cabinets).
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global RFID Blood Refrigerator and Freezer Market 2016-2020
Technavio recognizes the following companies as the key players in the global RFID blood refrigerator and freezer market: Biolog-id, Champion Healthcare Technologies, SATO, SpaceCode, and Terso Solutions.
Other Prominent Vendors in the market are: Arctest, Binder, B Medical Systems, Helmer Scientific, Remi, and RFID Global Solution.
Commenting on the report, an analyst from Technavio’s team said: “Technological advances will be a key trend for market growth. The accuracy of temperature monitoring systems is very critical in blood bank refrigerators. Blood storage efficiency is subject to several variables such as the frequency of opening doors, power failures, inventory load, and fluctuations in room temperature. These factors are important, considering the shelf-life of donated blood is 35 to 42 days. This will drive the need for storage solutions with real-time information, data management, remote access to data through mobile and other devices, and reporting that will reduce costs and improve productivity.”
According to the report, rise in healthcare costs will be a key driver for market growth. Healthcare costs have been rising over the past decade. They increased by 91% between 2000 and 2011 in the US. There has been a significant rise in the number of diseases that require surgeries. Thus, there is a constant requirement of blood. Subsequently, storage will have to be taken care of for blood to be available constantly.
Further, the report states that lack of trained professionals will be a major challenge for the market. Efficient management of blood and blood products is vital in order to achieve minimal transfusion errors. Generally, most of the rural hospitals have to face a lack of patient volume that is required to justify having specialists who charge highly to take care of inventory management. In most cases, physicians are reluctant to relocate to remote communities where blood transfusion happens frequently. Most of the times, the high fixed costs associated with bringing specialists in-house is costly, especially for smaller medical facilities.
Biolog-id, Champion Healthcare Technologies, SATO, SpaceCode, and Terso Solutions. Other Prominent Vendors in the market are: Arctest, Binder, B Medical Systems, Helmer Scientific, Remi, and RFID Global Solution.
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