RFID Blood Monitoring Systems Market is Displaying a Whopping 22.80% CAGR from 2013 to 2019

The RFID blood monitoring technology used to track and manage inventory of blood and blood products has gained immense significance across hospitals and blood bands. The advent of RFID blood monitoring systems has made a considerable impact on the global healthcare industry, which is a chief driver of the global RFID blood monitoring systems market. These systems help reducing human efforts and common errors in control and maintenance of healthcare documents and inventory. They also assist in patient management, which has helped the market gain significant impetus in the last few years.

The rising incidence of blood disorders and the subsequently increasing need for therapeutic blood transfusion have fuelled the demand for blood and blood products around the world. The simultaneous rise in overall aging population requiring blood transfusion has steered rise in the need of inventory managements.

Driven by these factors the demand for RFID refrigerators and freezers is expected to surge in hospital blood centers and blood banks. Despite being at a nascent stage, with rising acceptance the segment is likely to exhibit strong growth in the near future. Furthermore, market players providing RFID blood refrigerators and freezers manufacture novel solutions as well as provide retrofitting of conventional refrigerators. This is a key factor impelling growth across the segment and the overall RFID blood monitoring systems market.

Regionally, the global blood monitoring systems market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Among these regions, North America emerged dominant in the global market as it showcased a higher acceptance of RFID tracking technology across major industries besides hospitals. In addition, the region being at the fore of technological advancements boasts a sophisticated healthcare infrastructure, which also gets substantially funded by healthcare organizations. The deployment of RFID blood monitoring systems is considerably high in North America. Besides this, the market is also witnessing rising demand in countries across Asia Pacific, Latin America, and the Middle East.

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Some of the leading companies operating in the global RFID blood monitoring systems market are Terso Solutions, Magellan Technologies, and Biolog ID.

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