Solid Growth Ahead for Global RFID in Healthcare Market by 2020
North America, followed by Europe, has the largest market for RFID in healthcare due to government initiatives, major drug counterfeit events and rise in need for reducing cost and increasing operational efficiency in healthcare sector in this region. Asia is expected to show high growth rate in the RFID in healthcare market in next few years due to low cost of original equipment manufacturing (OEM) services provided by china and rise in adoption of RFID systems in healthcare in the region.
Rise in demand for RFID in healthcare sector for increasing operational efficiency, growing concern about drug counterfeit and safety, government initiatives, increasing need for reducing operational cost in healthcare and rise in incidence of medical device theft cases are driving the market for RFID in healthcare. In addition, a large number of applications of RFID in healthcare are driving the market for RFID in healthcare. However, lack of awareness about RFID, installed base of barcode systems and lack of standardization are some of the factors restraining the growth for global RFID in healthcare market.