RFID Blood Monitoring Systems Market To Reach $782.2 Million By 2030

RFID Blood Monitoring Systems Market Growth & Trends

The global RFID blood monitoring systems market size is expected to reach USD 782.2 million by 2030, registering a CAGR of 17.9%, according to a new report by Grand View Research Inc. RFID technology enables automation in data collection, identification, classification and tracking items. Key growth factors attributing for its rapid growth include increasing prevalence of chronic diseases such as heart, kidney, lung, liver, and other contagious and non contagious diseases.

RFID tags are attached to blood samples to ensure easy monitoring of the samples in hospitals, blood banks, and diagnostic centers. These RFID tags enable high speed processing of samples without errors and mix-ups. Furthermore, increasing healthcare expenditure, rising demand for preliminary healthcare checkups for early detection and diagnosis are also expected to positively reinforce the market growth in the next seven years.

RFID blood monitoring systems market is segmented on the basis of product into systems and tags. The information stored on the RFID tags is directly scanned and entered into the central data bases. This central data base enables analysis of patient history, type of test performed and the sample used for testing. Technological advancements such as cloud based servers enable easy access to sample information from multiple devices will boost market growth over the next seven years.

RFID blood monitoring systems industry is segmented on the basis of end use as blood banks and hospital blood centers. Blood banks and hospital blood centers are required to have substantial inventory of blood and blood products. RFID tagging is an affordable and systematic inventory management solution for such large scale testing, and storage of blood.

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RFID Blood Monitoring Systems Market Report Highlights

• Systems dominated the market with a 59.6% share in 2023 owing to the increased need for improved inventory management, reduced risk of human error and enhanced patient safety.

• Blood banks emerged as the dominant segment in 2023 with a share of 77.6% owing to the increasing need for enhanced safety and efficiency in blood transfusions.

• In 2023, North America held majority of market share of 45.2% owing to the presence of advanced healthcare infrastructure, high level collaboration between the industry and stake holders.

• Asia Pacific is expected to be the fastest growing region with a CAGR of 19.7% during the next seven years. Key factors attributing to its rapid growth include economic development in countries such as China, Brazil, India, and South Korea.

RFID Blood Monitoring Systems Market Segmentation

Grand View Research has segmented the global RFID blood monitoring systems market based on product, end use, and region:

RFID Blood monitoring Systems Product Outlook (Revenue, USD Million, 2018 - 2030)

• Systems

• Tags

RFID Blood Monitoring Systems End Use Outlook (Revenue, USD Million, 2018 - 2030)

• Blood Banks

• Hospital Blood Centers

RFID Blood Monitoring Systems Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in RFID Blood Monitoring Systems Market

• LogTag North America Inc.

• Mobile Aspects

• Biolog-Id

• Terso Solutions, Inc. 

• InnerSpace

• SATO Vicinity Pty. Ltd. 

• GAO Group

• Cardinal Health