RFID Blood Monitoring System Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of RFID Blood Monitoring System Market by product type (systems and tags), by end user (blood banks and hospital blood centers market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the RFID Blood Monitoring System Market it includes the five years Industry analysis and the 6 years annual forecast from 2018 to 2023. Some of the prominent participants in the Global RFID Blood Monitoring System Market are TAGSY RFID, Zebra Technologies Wave Mark, Log Tag, Terso Solutions, RFID Group, Solstice Medical LLC, Stanley Innerspace, Logi Tag and Mobile Aspects Inc., Magellan Technologies and SATO Vicinity. The global RFID blood monitoring system market is projected to grow with a CAGR between 21% to 22% over the forecast year 2017-2023.
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The High Costs Associated with Procurement and Use of RFID Blood Monitoring Systems is a Major Factor Restraining Growth of the Global RFID Blood Monitoring Systems Market
The global RFID blood monitoring system market is projected to grow with a CAGR between 21% to 22% over the forecast year 2017-2023. Increasing blood transfusions, increasing awareness among hospitals and blood banks in RFID-enabled blood storage, robust guidelines enabling use of RFID for blood monitoring and increasing incidence of chronic disease are the key factors driving the growth of this market. Furthermore, stringent government regulations and high initial cost associated with the installation and maintenance of RFID-enabled systems are the prime factors restraining the growth of this market. Moreover, growing adoption of RFID-based solutions for efficient blood monitoring due to which key vendors are pursuing organic growth strategies are expected to bring more opportunities to this market which in turn will further fuel the growth of this market.
The report segments the RFID blood monitoring system market by product type and end user. Market segmentation based on product type includes systems and tags. Moreover, the global RFID blood monitoring system market based on end users is segmented into blood banks and hospital blood centers.
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Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, Latin America and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2015 – 2023.North America accounted for the largest market share owing more than 50% of share due to presence of advanced healthcare infrastructure and high investment of Government and private organizations in R&D activities. Moreover, North America is expected to continue its dominance due rapid adoption of technological advanced tools, diagnostic efficiency and testing over the forecast period. Asia Pacific is expected to be the highest growing market region in the global RFID blood monitoring systems market due to presence of emerging economies such as India, China and South Korea. Furthermore, increasing incidence of disease rates leading to rise in blood diagnostic and blood inventory management are expected to be the key factors anticipating the growth of this market region with a highest CAGR rate over the forecast period.
Major Key Players Covered in this Report
The companies covered in the report include Biolog-id, Mediware Information System, Honeywell, Nordic ID, TAGSY RFID, Zebra Technologies Wave Mark, Log Tag, Terso Solutions, RFID Group, Solstice Medical LLC, Stanley Innerspace, Logi Tag and Mobile Aspects Inc., Magellan Technologies and SATO Vicinity.