RFID in Healthcare Market to Surpass US$ 30.03 Billion by 2030
Increasing need for RFID systems in manufacturing units for improving productivity is expected to drive the market over the forecast period. For instance, in June 2021, according to a research article published by Informs, Inc., a provider of innovative and customized solutions for managing and tracking products and information for customers throughout the world, Radio frequency identification (RFID) technology has proven to be an extremely effective solution, allowing workers to quickly identify and track assets by location throughout the supply chain. RFID tags could effectively replace barcode labels so that you can easily collect data and improve manufacturing efficiency through warehouse automation.
Global RFID in healthcare market is expected to surpass US$ 30.03 Billion by 2030 and is anticipated to witness a CAGR of 20.3% during the forecast period 2023-2030, owing to increasing need for RFID systems in the manufacturing units for improving productivity and increasing product launches by the key players.
On the basis of Product Type, the tags segment is expected to dominate the global RFID in the healthcare market during the forecast period and this is attributed to their benefits, as they can be used to search, identify, track, and communicate with items and people in hospitals. Essentially, RFID tags are smart labels that can store a range of information from serial numbers, to a short description, and even pages of data.
On the basis of Region, North America is expected to dominate the market over the forecast period owing to the increase in healthcare facilities and technological advancement by the key players. Whereas, product launch by the key players is also expected to drive the North America market.
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