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The article is about the rapid growth of Global Healthcare RFID market from 2023 to 2032. The market is growing strongly due to healthcare RFID high efficiency and low cost. The necessity to improve patient safety and inventory management of pharmacies, hospitals, and biotechnology firms also boosts the market. In fact, the market is growing at a CAGR of 13.4% during the forecast period. The market that was estimated at USD 0.8 Billion in 2022 and USD 0.90 billion in 2023 is forecast to grow to USD 1.99 billion by 2032.
Healthcare RFID is divided into four types which include tags, readers, middleware, and printers. The tags segment held the highest market share in 2022, but the printers are the fastest growing category during the forecast period.
The market is also segmented into applications which are equipment tracking, medicine tracking, and others. The equipment tracking is at the top of the market, and it is expected to grow faster during the forecast period. The medicine tracking is projected to grow fast as well.
End users include medicine, pharmacy, biotechnology firms, and others with the medicine segment at the top of the market. Based on region, the market is divided into North America, Europe, Asia Pacific, and the rest of world with North America at the top with USD 0.37 billion in 2022.
Key companies that boost the market are Alien Technologies Corporation, Applied Wireless Identifications Group Inc, and others that invest a lot in research and development activities. Gao RFID Inc. is also cited as a key company in the healthcare RFID market.