Rising Popularity of RFID tags to create Opportunities in Healthcare Sector

RFID Market

Radio Frequency Identification (RFID) is a technology that uses an electromagnetic field to automatically identify and track the objects. It uses radio signals to record the presence of an object. The increase in the use of RFID tags is set to create robust opportunities in the healthcare sector. The tracking and classification of medical instruments in the healthcare sector will help to boost the demand of RFID tags.

With the rise in demand of RFID driven by the sectors like healthcare, supply chain management and retail, the RFID market worldwide is anticipated to register 13.2% of CAGR during 2017 and 2027, according to the report by Future Market Insights (FMI).

What are the Advantages of RFID in Healthcare Sector?

RFID holds the immense potential ensuring safety of patients and reducing human errors. Time and accuracy being of the high priority in the healthcare sector and in this situation having real-time data in hand become necessary, hence, there is a growth in demand of RFID service in healthcare. RFID offers a number of benefits in the healthcare sector such as

Monitoring and Tracing Medical Equipment and Operating Instruments

RFID helps to monitor and trace medical equipment and operating instruments during the procedure. It also helps in preventing retention of surgical instruments inside the patient being operated. With RFID tags, doctors can skip the process of counting number of operating equipment, sponges and towels both before and after the surgery.

Monitor and Access Control

Hospitals can use card-based access control solutions which are highly secured. RFID helps to monitor and access control to the most restricted area in the hospital like secured hospital wings or floors, ER, operation theater, supply closets, etc.

Ensuring Patient Safety

Hospitals can implement RFID wrist-bands that allow better patient safety at the hospital. Just one scan can retrieve, prescribed medicines, medical history, and medicine and meal schedule of the patient. This also saves doctors and nurses from serving wrong medication or meal to the patient.

Helps in Supply Chain Logistics

The healthcare institutes can also ensure end-to-end traceability by applying RFID tags at the source. The end-to-end traceability includes tracking Prescription drugs, medical supplies and transportation of organ for transplant.

With the increasing number of benefits offered by RFID technology, more and more healthcare institutions and hospitals are using it.

The report also predicts that North America will witness the growth in RFID market, owing to the need for efficient supply chain management. Aerospace companies are also increasingly adopting RFID technology due to the various benefits offered.

About the Author

Suyog Keluskar

Suyog Keluskar is an experienced Market Research, Customer Insights & Consulting professional, covering latest industry and market updates on Electronics, Semiconductor and ICT domain. With over ten years of experience in business/market research, Suyog delivers customer-centric assignments in market-entry, market expansion, partner identification, competition analysis, market sizing, industry insights and customer intelligence studies. When Suyog is not busy unraveling the consumer mind or unearthing market potential he can be found traveling the road less traveled with a fascinating book on contemporary history in his hand. An avid cricket fan, music lover and you will also find him discussing politics with his friends and peers more often.

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