The global Radio frequency identification (RFID) blood management systems market is estimated to reach US$ 220 Million by 2021, growing at a CAGR of 19.2% from 2017 to 2021, due to efficient and error-free drug administration to targeted patients, patient compliance to prescription drugs and elimination of trading of counterfeit drugs worldwide.
The RFID is rapidly making headway into the healthcare and pharmaceutical industries, especially in assets tracking, supply chain management, and inventory management. In particular, the need for inventory management to reduce instances of loss or misplacement of medical equipment, supplies or drugs, along with efforts to minimise errors and improve patient safety, drives the market for RFID smart cabinet systems. By application, pharmaceuticals tracking sector recorded the highest market share followed by patient tracking. North America region registered highest share of the global RFID blood management systems market followed by Europe, while Asia Pacific region is likely to be the most attractive market in terms of opportunities and market growth during the forecast period.
RFID blood management systems aim at ensuring the quality of the blood and increasing the efficiency of operation management. RFID blood management technology has proven to be efficient in ensuring patient safety, condense administrative costs and guarantee efficient inventory management of blood and blood products. Similarly, RFID technology can provide its own unique identity each bag of blood, and its corresponding information stored, the information with back-end database connectivity, so the blood both in blood point, or points in the mobilization of blood banks, hospital, or at the point of use, can be monitored throughout the RFID system, the blood in the information each mobilization points can always be tracked out. RFID technology enables analysis of large quantities of data in real-time acquisition, transfer, check and update to speed up the identification of blood out of storage, and also avoids the artificial check errors.
RFID and contactless identification feature can also ensure that blood is not contaminated by identifying and detecting and reducing the possibility of blood contamination. The RFID technology in hospital blood management includes blood bags equipped with an RFID chip, containing only one security database information associated with the identifier of the chip. It can be verified by a handheld reader or computer bags of information related to patient blood RFID wristbands information matches, to ensure that patients receive blood match. Majority of the blood centers and hospitals depend on bar-coding and note-taking system for the inventory management of millions of units of blood products.
Global RFID Blood Management Systems Market by Product Type (Freezers and Refrigerators), Applications, and End Users (Blood Banks, Hospitals) 2017-2021. The global Radio frequency identification (RFID) blood management systems market segmentation is based on product (freezers and refrigerators), applications (asset management, blood monitoring, patient tracking, pharmaceuticals tracking), and end users (blood banks, hospitals).
The global RFID blood management systems market report provides market size (Revenue US$ Million 2014 to 2021), market share and forecasts growth trends (CAGR%, 2017 to 2021). The global RFID blood management systems market research report is further segmented by geography into North America (U.S., Canada), Latin America (Brazil, Mexico, Rest of LA), Europe (U.K., Germany, France, Italy, Spain, Rest of EU), Asia Pacific (Japan, China, India, Rest of APAC), and Rest of the World. The global RFID blood management systems market report also provides the detailed market landscape (market drivers, restraints, opportunities), market attractiveness analysis and profiles of major competitors in the global market including company overview, financial snapshot, key products, technologies and services offered, and recent developments.
Major players operating in the global RFID blood management market and profiled in this report include Champion Medical Technologies, LPIT Solutions, Inc., Magellan Technology Pvt. Ltd., RURO, Inc., SysLogic, Inc., Terso Solutions, Inc., and ThingMagic, Inc.
1. Product Type
1.1. Freezers and Refrigerators
2.1. Asset Management
2.2. Blood Monitoring
2.3. Patient Tracking
2.4. Pharmaceuticals Tracking
3. End User
3.1. Blood Banks
4. Geography (Region, Country)
4.1. North America (U.S., Canada)
4.2. Latin America (Brazil, Mexico, Rest of LA)
4.3. Europe (U.K., Germany, France, Italy, Spain, Rest of EU)
4.4. Asia Pacific (Japan, China, India, Rest of APAC)
4.5. Rest of the World
5. Company Profiles
5.1. Champion Medical Technologies
5.2. LPIT Solutions, Inc.
5.3. Magellan Technology Pvt. Ltd.
5.4. RURO, Inc.
5.5. SysLogic, Inc.
5.6. Terso Solutions, Inc.
5.7. ThingMagic, Inc.
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