June 26, 2022
medical RFID

medical RFID

This growth of the RFID medical  from 2021 to 2028  is expected to be complemented by factors such as increasing need for patient tracking/monitoring due to the growing geriatric population, increasing advances in product development and increasing government support for adoption. of RFID technology. In addition, the future of RFID in the healthcare sector is expected to be lucrative, driven by increasing mobile adoption, increased internet connectivity, and demand from R&D activities conducted within enterprises.

Currently, RFID tags and RFID readers are leading the component segment of RFID in the medical field. RFID tags and RFID readers will also be leaders in the forecast period. Basically, the growing demand for advanced technology in the medical field worldwide and the continuing decline in the price of RFID tags are making it an attractive option. Inventory management/tracking within applications accounts for the largest share of total revenue for RFID in healthcare. A similar pattern is expected during the forecast period. A big reason behind that is the losses the hospital has suffered in terms of misplacement of surgical assets. In addition, the number of patients ultimately requiring appropriate drug treatment and management is expected to increase further in the future.

In the past few years, most well-known companies have shown interest in RFID technology in the medical market. Some of these companies are GAO RFID, IMPINJ, and Smartrac N.V., which are investing in RFID technology in the medical market to gain major market share and develop products on-the-fly. Investments in developing countries such as India, China and Japan and monitoring of consumables are major opportunities for RFID technology to link up in the medical market in the future.