Radio Frequency Identification (RFID) In Healthcare Market Value Anticipated To Reach US$ 6,435.7 Million By 2027

The Global Radio Frequency Identification (RFID) In Healthcare Market is expected to grow at a CAGR of around 22.3% from 2020 to 2027 and reach the market value of over US$ 6,435.7 Mn by 2027.

North America is dominating the global radio frequency identification (RFID) in healthcare regional market from the past and will continue its trend in the forecast period. The factors that contribute to regional growth involve the rising number of healthcare service providers coupled with hospitals, improvement in regulatory framework, patient safety on top priority, and tracking medical devices.

On the other hand, Asia Pacific is projected to record a significant CAGR of 23.9% during the forecast period. Large presence of pharmaceutical and life sciences companies, surge in efficient supply chain management.

Additionally, rising healthcare expenditure, improvement in healthcare infrastructure are the prominent factors that have positive influence on the regional market growth. Moreover, the region has large patient pool suffering from chronic and infectious disease condition. Rising burden of diseases is expected to fuel the demand for efficient healthcare related services, impacting positively on the regional growth for APAC.