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RFID Enabled Smart Cabinets Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018

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Published Date: July 2013

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78 Pages Report

Corporate User License: US $ 10595 REPORT DESCRIPTION RFID Enabled Smart Cabinets Market is Expected to Reach USD 609.8 Million Globally in 2018: Transparency Market Research Market Research Reports : Transparency Market Research published new market report "RFID Enabled Smart Cabinets Market for Expensive Hospitals Supplies - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018," the global market for RFID enabled smart cabinets was valued at USD 286.7 million in 2011 and it is expected to reach an estimated value of USD 609.8 million in 2018, growing at a CAGR of 11.3% from 2012 to 2018. RFID Smart Cabinet technology has been instrumental in reducing manual efforts in maintaining, tracking and managing inventory in hospitals and promises to reduce losses and misplacement of supplies. These cabinets are responsible for the tracking of expensive drugs and devices as well as maintaining viability of drugs by alerting the medical team in case a drug has expired. RFID is in use in the healthcare sector for the last two decades and promises significant savings to hospitals in terms of losses due to human errors in hospital inventory mismanagement, loss due to theft and incorrect prescriptions for medications.


RFID cabinets in hospitals are common in North America particularly in the United States, where there are few governmental restrictions on the usage of radiofrequencies. The adoption in United States is expected to further increase as awareness among the medical community increases. Along with this, it is expected that in coming years, competitive pricing will help stimulate the growth of these cabinets in hospitals and other healthcare facilities. Exhaustive data was collected on hospital specialties which deal with expensive materials such as radiology and oncology, orthopedic surgery, cardiovascular surgery, cath labs, and ophthalmology among other departments. The current trend of installing cabinets was then collected from hospitals and manufacturing companies through personal interviews with industry experts and hospital procurement departments with several participants spread across the countries under focus. The major drivers for the growth of the RFID smart cabinets market is the urgent need for inventory control in hospitals to reduce loss, awareness of RFID technology and its applications, governmental regulations for inventory management, low cost of supporting network equipment (WiFi, ZigBee, Ultrasound) and increasing hospital funding for infrastructure in emerging economies of Latin America such as Brazil and Argentina. Strong factors restricting the growth include initial costs of installing devices and subsequent maintenance which are quite high. Many hospitals consider it as an unnecessary luxury as they give priority to expanding beds in the hospitals. In Europe, a large number of hospitals have been shutting down and reducing the customer base. Shrinking customer base will pose serious challenges to the growth of the market. Besides these, several countries have not opened radiofrequency bandwidths for healthcare and public use. Moreover, established bar-coding techniques are deeply rooted in the healthcare systems of today. There is a reluctance to shift to modern technologies s these simple manual techniques are currently sufficient. The key competitors in this segment are WaveMark, Terso Solutions, Solstice Medical, Tagsys, Mobile Aspects and LogiTag. There are numerous other local and regional players across the world such as BayNexus, ARC Technologies. The global RFID enabled smart cabinets market is categorized into the following segments: 

RFID Smart Cabinets, By Region o

North America

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Canada

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United States

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Mexico


Browse Report : http://www.transparencymarketresearch.com/rfid-enabledsmart-cabinets.html o

Europe

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United Kingdom

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Germany

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France

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Spain

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Belgium

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Netherlands

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Poland

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Asia-Pacific

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Australia

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Japan

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China

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India

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Rest of the World (RoW)

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Middle-East

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Brazil

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Argentina

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Chile

TABLE OF CONTENTS

Chapter 1 Preface 1.1 Report Description 1.2 Market Segmentation: RFID Smart Cabinets


1.3 Research Methodology 1.3.1 Sources 1.3.1.1 Secondary Research 1.3.1.2 Primary Research 1.4 Assumptions

Chapter 2 Executive Summary 2.1 Comparative Analysis of RFID Smart Cabinets Market, by Region, 2011 & 2018

Chapter 3 RFID Smart Cabinets Market Dynamics 3.1 Inventory Control in Hospitals and Need for RFID-Solutions 3.2 Evolution and Adoption Of RFID Technology in Hospitals 3.3 Advantages of RFID Over Other Coding Technologies in Hospitals 3.4 Essential High Value and Expensive Supplies in Hospitals Requiring Inventory Control 3.4.1 Drugs 3.4.2 Devices and Equipment 3.5 Market Drivers 3.5.1 Need to Manage Inventory Cost of High-Value Supplies and Benefits of Using RFID Smart Cabinets 3.5.2 Global Financial Crisis (GFC) Induced Cost-Efficiency in Hospitals 3.5.3 Regulatory Advisory to Implement Standard Asset Management System Across Hospitals 3.5.4 Increasing Demand for RFID Enabled Refrigerated Cabinets 3.5.5 Enabling Low-Cost Technology 3.6 Market Restraints 3.6.1 Reluctance to Change


Browse Report : http://www.transparencymarketresearch.com/rfid-enabledsmart-cabinets.html 3.6.2 Cost Of Deployment of RFID Smart Cabinets acts as a Restraint 3.6.3 Potential Danger to Functioning of Other Medical Devices 3.6.4 Shrinking Customer Base 3.7 Opportunities 3.7.1 Low-Penetration of RFID Technology in Healthcare / Hospital Sector 3.7.2 Manufacturing Cabinets that Conform to Globally Accepted Quality Standards 3.8 Recommendations 3.9 Market Attractiveness for RFID Smart Cabinets Market, by Country (2012) 3.10 Porters Five Forces Analysis for RFID Smart Cabinets Market 3.10.1 Bargaining Power of Suppliers 3.10.2 Bargaining Power of Buyers 3.10.3 Threat from Substitutes 3.10.4 Threat from New Entrants 3.10.5 Degree of Competitive Rivalry

Chapter 4 RFID Smart Cabinets Market, by Geography, 2010 - 2018 (USD Million) 4.1 Market Overview 4.2 North America 4.2.1 Canada 4.2.2 United States 4.2.3 Mexico 4.3 Europe 4.3.1 United Kingdom 4.3.2 Germany


4.3.3 France 4.3.4 Spain 4.3.5 Belgium 4.3.6 Netherlands 4.3.7 Poland 4.4 Asia-Pacific 4.4.1 Australia 4.4.2 Japan 4.4.3 China 4.4.4 India 4.5 Rest of the World (Row) 4.5.1 Middle East 4.5.2 Brazil 4.5.3 Argentina 4.5.4 Chile

Chapter 5 Market Share Analysis of Key Players, 2011 5.1 Market Share Analysis of Key Players Chapter 6 Company Profile Analysis 6.1 Logitag 6.1.1 Business Overview 6.1.2 Financial Overview 6.1.3 Product Portfolio


Browse Report : http://www.transparencymarketresearch.com/rfid-enabledsmart-cabinets.html 6.1.4 Business Strategies 6.1.5 Recent Developments 6.2 Mobile Aspects, Inc. 6.2.1 Business Overview 6.2.2 Financial Overview 6.2.3 Product Portfolio 6.2.4 Business Strategies 6.3 Solstice Medical LLC. 6.3.1 Business Overview 6.3.2 Financial Overview 6.3.3 Product Portfolio 6.3.4 Recent Developments 6.4 Stanley Innerspace 6.4.1 Business Overview 6.4.2 Financial Overview 6.4.3 Product Portfolio And Services 6.4.4 Business Strategies 6.4.5 Recent Developments 6.5 Tagsys RFID Group 6.5.1 Business Overview 6.5.2 Financial Overview 6.5.3 Products Portfolio 6.5.4 Business Strategies 6.5.5 Recent Developments


6.6 Terso Solutions, Inc. 6.6.1 Business Overview 6.6.2 Financial Overview 6.6.3 Product Portfolio 6.6.4 Business Strategies 6.6.5 Recent Developments 6.7 Wavemark Inc. 6.7.1 Business Overview 6.7.2 Financial Overview 6.7.3 Product Portfolio 6.7.4 Business Strategies 6.7.5 Recent Developments About Us: Transparency Market Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We are privileged with highly experienced team of Analysts, Researchers and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge. Contact: Transparency Market Research 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free 866-552-3453 Email: sales@transparencymarketresearch.com Website: http://www.transparencymarketresearch.com/


RFID Enabled Smart Cabinets Market - Global Industry Analysis, Size, Share, Growth, Trends ,2018