The global RFID Blood Monitoring Systems Market was worth US$ 112 Million in the year 2022 and is expected to reach US$ 218.4 Billion by the year 2032 at a CAGR of 6.9% between 2022 and 2032.
Advanced RFID systems not only make way for user’s identification details; but also provide information about location, that too, real-time. The emerging trends herein are offering more functionality to the diagnostic processes along with curtailment in deployment cost.
Coming to the healthcare vertical, RFID-enabled blood refrigerators with freezers in blood banks and hospitals is expected to drive the growth of the industry in the near future. RFID does minimize human efforts, and, in turn, errors; which do ascertain appropriate control & maintenance of the clinical data in healthcare vertical.
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RFID tags are likely to witness higher demand owing to technologically advanced products like alternative tag designs and sensory tags being introduced. They are inclusive of SAL (Smart Active Label technology) that are comparatively less vulnerable to metal and liquid.
Future Market Insights has etched these findings with future perspectives in its latest market study entitled ‘RFID Blood Monitoring System Market’. It has its team of analysts and consultants to look through a 360-degree approach in its primary, secondary, and tertiary modes of research.
“With realization of the fact that RFID technologies are enhancing the efficiency of the clinical applications that exist, the global RFID blood monitoring system market is expected to grow on a splendid note in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from RFID Blood Monitoring Systems Market
- North America holds the largest market share with the US housing developed blood bank infrastructure coupled with growing demand for various hospital inventory management systems.
- Europe holds the second-largest market share with RFID blood monitoring systems penetrating the market at an alarming rate, followed by the Asia-Pacific.
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Competitive System
- Terso Solutions, in June 2020, did announce that it had entered into partnership with MTS (Medical Tracking Solutions, Inc.). The company is known for developing iTraycer (inventory management software). The basic objective was that of launching an RFID surgical loaner kit tracking solution for facilitating visibility for hospitals and manufacturers from warehouse to point-of-use.
- SATO, in September 2021, came up with a UHF RFID Direct Thermal Wristband to identify, verify, and track patients in the hospitals. The wristband facilitates optimal reads and comfort within the location systems of hospitals. This high-performance UHF RFID wristband has its compact 4-inch printer – CT4-LX UHF.
- The SNBTS (Scottish National Blood Transfusion Service), in September 2021, did implement Biolog-id Blood Inventory Devices for optimizing managing blood products. Biolog-id’s cutting-edge technology would be streamlining distribution processes and complex inventory of red blood cells to the distant sites, thereby improvising management and visibility of these lifesaving products.
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What does the Report monitor?
- The research study is based on product (systems and tags), and end-use (blood banks and hospital blood centers).
- With an increasing number of privacy and security issues regarding clinical applications, the global RFID blood monitoring system market is expected to grow on a gracious note in the forecast period.
Key Segments Covered in the RFID Blood Monitoring Systems Market Study
By Product:
- Systems
- Tags
By End Use:
- Blood Banks
- Hospital Blood Centers
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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