RFID in Healthcare Market Trends, Growth, Demand, opportunities, Scope & Forecast 2026 by coherent market insights



The adoption of RFID technology in healthcare, businesses are projected to be boosted by the high operational costs associated with the industry. This technology is used by pharmaceutical companies, medical device makers, hospitals, and other healthcare institutions to control inventory costs. RFID technology allows these businesses to manage their inventories more efficiently and minimize stockouts and overstocks. RFID tags allow surgical staff to track medical devices used in operating rooms more easily, improving patient safety. RFID use is predicted to rise in response to a growing demand for lower operational expenses. For effective product monitoring and better workflow management, this technology is also employed in laboratories, blood banks, and pathology labs.

According to a recent analysis, the global RFID in the healthcare market is anticipated to reach USD 10.65 billion by 2025. During the forecast period, it is expected to grow at a CAGR of 22.4 percent. Some of the primary drivers of growth are a growing emphasis on lowering operational costs and streamlining workflows, a desire for effective supply chain management, and the need to adapt.

Better communication, effective patient monitoring, patient identification, and patient tracking are all possible with RFID technology. This strategy helps to reduce drug errors while also increasing safety. The growing demand for patient monitoring, as well as government obligations to improve safety, are all contributing to the development.

Due to increased awareness of the benefits of these devices, the RFID tags product the segment held the majority of the market share in 2018.

Increasing use of tags to track various assets, patients, personnel, pharmaceuticals, and donated blood is likely to drive the market forward throughout the forecast period.

In 2018, the pharmaceutical tracking application sector retained the biggest market share, owing to increased demand for counterfeit drug detection and inventory management.

Because of the growing number of hospitals and the presence of patient safety standards, North America dominated the global market.

Due to the presence of a significant pharmaceutical industry that requires this technology for process efficiency, Asia Pacific is expected to have the quickest CAGR.LogiTag, CenTrak, SpaceCode, Impinj, Zebra Technologies Corporation, Biolog-id, Terso Solutions, Carinal Health, Mobile Aspects, Tagsys RFID, Pepperl+Fuchs and others are some of the prominent companies in the RFID in healthcare industry.

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