RFID Blood Monitoring Systems Market to Reach US$ 1.94 Billion: Growth Plus
19 September 2022: According to the latest report published by growth plus reports, the global RFID Blood Monitoring Systems Market is expected to clock US$ 1.94 billion by 2030 and to grow at a CAGR of 6.9% during the forecast period. Owing to technological advancements in RFID systems, the growing adoption of RFID blood monitoring systems, novel inventory management solutions and increased consumer demand are the key driving factors. This exclusive information is published by Growth Plus Reports in its report titled “RFID Blood Monitoring Systems Market – Global Outlook & Forecast 2022-2030”
The key objective of market players in the global RFID blood monitoring systems market is to increase their global footprint through a variety of tactics, including alliances, partnerships, and collaborations. The players are also spending a lot of money on research and development to improve their products and boost their competitiveness on the global market. For instance, in September 2021, to improve the management of its blood products, the Scottish National Blood Transfusion Service (SNBTS), a specialised provider of transfusion medicine in Scotland, installed the biolog-id blood inventory devices. By means of this implementation, cutting-edge biolog-id technology will simplify the difficult operations of red blood cell inventory and distribution to far sites, improving the visibility and management of those life-saving goods between the Scottish blood centre and each regional blood bank.
The factor anticipated to drive growth of the global market over the forecast period is technological advancements in RFID systems, particularly in RFID tags, which are based on nano and micro technologies and can hold enormous amounts of data. Additionally, a significant emerging trend in the global market is the growing adoption of RFID blood monitoring systems by blood banks and hospitals worldwide, in both developed and some developing nations. This development is expected to support market growth globally throughout the forecast period. Moreover, high market growth is mostly due to ongoing R&D projects aimed at creating novel inventory management solutions and increased consumer demand for clerical mistake reduction. Over the projection period, it is predicted that RFID adoption in the healthcare sector would increase, especially with regard to the use of RFID blood refrigerators and freezers in hospitals and blood banks.
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