RFID Blood Monitoring Systems Market Analysis, Size, Growth, Share, Outlook & Forecast to 2022 | Grand View Research Inc.
The global RFID blood monitoring systems market is expected to reach USD 511.5 million by 2022, 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. Further key findings from the report suggest: