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Hospital Asset Management Market dominated by RFID

The hospital asset management commanded the largest share of global market in 2012 growing at a CAGR of more than 20% from 2012 to 2017. RFID in healthcare dominated the market growing strongly at aCAGRof more than 17% from 2012 to 2017. RTLS has recently attracted market leaders and investors and is expected to grow at the highest CAGR of 35.4% from 2012 to 2017. Equipment management commanded the largest share of the applications in 2012, while staff management is expected to grow at the highest CAGR of more than 37% from 2012 to 2017 due to focus on enhanced productivity and quality of care. The global RFID tags commanded the largest share of more than 58% of the global tags market in 2012, while ultrasound tags market is expected to grow at the highest CAGR of more than 17% from 2012 to 2017.
RFID, RTLS and ultrasound & infrared tags are the various product categories of global market. Though RFID was introduced in 1970s the technology adoption in the healthcare and pharmaceuticals market majorly took place in early 2000. RFID in healthcare vertical has dominated the share with more than 60% of the global market share and strongly growing in mature markets such as Europe, North America, Japan, the South Korea, and China between 2010 and 2020. Asset management in healthcare applications such as equipment management, staff management, patient management and temperature & humidity monitoring are being preferred by practitioners. In addition, asset management also provides crucial applications in pharmaceuticals vertical such as drug counterfeiting and supply chain.

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