The global RFID blood
monitoring systems market is expected to reach USD 511.5 million by 2022,
according to a new report by Grand View Research Inc. RFID technology enables
automation in data collection, identification, classification and tracking
items. Key growth factors attributing for its rapid growth include increasing
prevalence of chronic diseases such as heart, kidney, lung, liver, and other
contagious and non contagious diseases.
RFID tags are attached to blood
samples to ensure easy monitoring of the samples in hospitals, blood banks, and
diagnostic centers. These RFID tags enable high speed processing of samples
without errors and mix-ups. Furthermore, increasing healthcare expenditure,
rising demand for preliminary healthcare checkups for early detection and
diagnosis are also expected to positively reinforce the market growth in the
next seven years.
RFID blood monitoring systems
market is segmented on the basis of product into systems and tags. The
information stored on the RFID tags is directly scanned and entered into the
central data bases. This central data base enables analysis of patient history,
type of test performed and the sample used for testing. Technological
advancements such as cloud based servers enable easy access to sample information
from multiple devices will boost market growth over the next seven years.
RFID blood monitoring systems
industry is segmented on the basis of end use as blood banks and hospital blood
centers. Blood banks and hospital blood centers are required to have
substantial inventory of blood and blood products. RFID tagging is an
affordable and systematic inventory management solution for such large scale
testing, and storage of blood.
In depth research report on RFID Blood Monitoring Systems
Market
Further key findings from the report suggest:
·
In 2014, North America held
majority of market share of over 50% owing to the presence of advanced
healthcare infrastructure, high level collaboration between the industry and
stake holders. Furthermore, rapid adoption of technological advanced products
to improve patient care, diagnostic efficiency by ensuring sample integrity in
storage area and testing are amongst key factors positively reinforcing the
growth in the next seven years.
·
Asia Pacific is expected to be
the fastest growing region with a CAGR of 23.2% during the next seven years.
Key factors attributing to its rapid growth include economic development in
countries such as China, Brazil, India, and South Korea. Increasing disease
prevalence rates leading to subsequent rise in blood diagnostics and blood
inventory management are expected to boost usage rates of RFID blood monitoring
systems and tags over the forecast period.
·
Key players in RFID systems and
tags market include Wave Mark, Log Tag, Tagsys RFID Group, Terson Solutions,
Solstice Medical LLC, Stanley Innerspace, Logi Tag and Mobile ASpects Inc.
Furthermore, with the entry of new players, introduction of technologically
advanced, and low cost systems is expected to improve competition over the
forecast period.
Grand View Research has
segmented the Global RFID Blood Monitoring Systems market on the basis of
product and application type
RFID Blood Monitoring Systems Market, Product Outlook
(Revenue, USD Million, 2012 - 2022)
·
Systems
·
Tags
Blood Monitoring Systems Market, End Use Outlook (Revenue,
USD Million, 2012 - 2022)
·
Blood banks
·
Hospital blood centers
Blood Monitoring Systems Market, Regional Outlook (Revenue,
USD Million) 2012 - 2022)
·
North America
·
Europe
·
Asia Pacific
·
RoW
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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