RFID technology is rapidly transforming businesses across the aisle and bringing efficiency and accuracy in inventory management, supply chain, and logistics in the form of reliable AIDC (Automatic Identification and Data Capture) technology. While retail still remains the biggest market sector when it comes to RFID adoption and consumption of RFID tags, the healthcare industry is also adopting RFID technology for various reasons, including inventory management in pharmacies, hospitals, and biotechnology companies and better patient care in hospitals and remote patient care.
Let’s take a deep dive into the global RFID healthcare market and the factors driving RFID adoption in healthcare.
Global RFID Healthcare Market
The global RFID adoption in healthcare is on the rise with the Healthcare RFID market at approximately USD 7.69 billion at present which is anticipated to reach around USD 31.23 billion by 2034, growing at a CAGR of 16.96% between 2025 to 2034, as per a report on global RFID healthcare market by Precedence Research.
RFID, short for Radio Frequency Identification, is a wireless technology similar to Wi-Fi and Bluetooth, and it uses radio frequency signals to facilitate information sharing at high range between an RFID-tagged asset and an RFID reader, facilitated by an RFID antenna.
RFID tags, readers, and antennas are the necessary components of any RFID system being used by the healthcare industry along with RFID software systems. The need for smart labelling in healthcare using RFID technology, keeping accurate inventory in pharmaceuticals to ensure the required stock of medicines and vaccine vials is available, and tracking the administration of medicines and vaccines, all are pushing the growth of RFID technology in the healthcare sector globally.
Why RFID Technology in the Healthcare Industry?
The rise of global RFID adoption in healthcare and the subsequent growth of the RFID healthcare market is not out of the blue. RFID is a cost-effective AIDC technology and offers great benefits to healthcare institutions when it comes to access control and security, inventory management, patient care, critical care and ICU, emergency supply management, bed occupancy tracking in the wards, etc. RFID wristbands are used to track patients and to ensure they receive medication on time, and their access to restricted areas is controlled, while RFID cards are used by healthcare staff to track their availability in distinct wards, monitor their movement, and keep track of their attendance and leaves, just in case they have to plan for substitute doctors any given day.
Apart from that, RFID asset management and inventory tracking in hospitals and pharmacies, RFID finds great application in sensing. RFID sensor tags are embedded with sensing materials and when these tags are used on crucial medical supplies, medicines, and vaccines, they provide temperature-sensing and humidity-sensing data to users. With RFID sensor tags, healthcare businesses can reduce wastage and spoilage of crucial medicines and vaccines by ensuring optimum storage.
Data capture is a big part of RFID technology and with the lowered cost of RFID tags, readers, and antennas, healthcare businesses are able to capture crucial information while saving cost on crucial labor. Manual operations are time-consuming and prone to human errors but with RFID technology, it is easier to carry out audits and inventory control in a very short period.
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Applications of RFID technology in Healthcare
With the ability to automatically identify and track objects, RFID enhances efficiency and accuracy in healthcare settings.
Some key applications of RFID technology in healthcare include:
Patient Tracking with RFID
RFID wristbands can be attached to patients, allowing healthcare providers to monitor patient movements within a facility. RFID tracking ensures that patients are in the right place at the right time, facilitating timely medical care and reducing wait times.
Asset Management in Healthcare
Hospitals often have a vast array of medical equipment, from wheelchairs to high-tech diagnostic machines like x-ray machines, dialysis machines, BP and Sugar diagnostic machines, etc. RFID technology helps in tracking these assets, ensuring they are readily available when needed. Using RFID, healthcare facilities can minimize equipment loss and reduce the time spent searching for necessary tools.
Medication and Bed Occupancy Management
RFID enhances medication safety by enabling precise tracking of pharmaceutical products throughout the supply chain. It can help prevent medication errors by ensuring the right patient receives the right medication at the right dosage. RFID systems can also monitor expiration dates and stock levels, improving inventory management.
With RFID tagging of patients and beds, it is easier to manage bed occupancy in hospitals. With an RFID-based bed management system in hospitals, healthcare institutions can have a clear picture on no. of beds that are occupied, no. of beds unoccupied, and no. of beds that are about to be unoccupied as patient check-out.
Infection Control with RFID
Infection control is paramount in healthcare. RFID technology can track the sterilization status of surgical instruments and monitor hand hygiene compliance among healthcare staff. By ensuring that instruments are properly sterilized and that protocols are followed, RFID helps reduce the risk of hospital-acquired infections.
Supply Chain Management with RFID
RFID improves the transparency and efficiency of the healthcare supply chain. Healthcare providers can streamline inventory management, reduce waste, and ensure that critical supplies are always available by tagging supplies and tracking them in real time.
To conclude, the implementation of RFID technology in healthcare is transforming the industry by enhancing operational efficiency, improving patient safety, and streamlining workflows. Consequently, the RFID healthcare market is growing rapidly with high RFID tag consumption in healthcare after the retail sector. The healthcare sector globally is leveraging RFID-based automation to bring more efficiency, better patient care, and cost savings in the long term.
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