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Market Insight: RFID Blood Monitoring Systems Market expected to Grow Globally by Revenue during the Forecast Period 2016-2020

(PharmaNewsWire.Com, January 06, 2017 ) RFID Blood Monitoring Systems Market, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years and discussion of the key vendors effective in this market. To calculate the market size, the report considers the revenue generated from the sales of RFID Blood Monitoring Systems globally.
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The RFID Blood Monitoring Systems Market report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry.

Following Companies Are Key Players of the RFID Blood Monitoring Systems Market:
• Biolog-Id
• Mediware Information Systems
• S3Edge
• SATO Vicinity
• Terso Solutions

Other Prominent Vendors of RFID Blood Monitoring Systems Market Are:
• Honeywell
• LogiTag
• Mobile Aspects
• Nordic ID
• Solstice Medical
• Stanley Healthcare

“Growing adoption of RFID-based solutions for efficient blood monitoring is an important trend gaining traction in the market. The industry has been witnessing a growing use of RFID-based solutions to improve efficiency. For instance, in May 2016, Aegis Sciences Corporation employed an RFID-based solution to monitor the status of blood and urine samples. In May 2016, the University of Tennessee Medical Centre also expanded its use of RFID within its 36 operating rooms. In March 2016, NSW Health Pathology that operates five clinical and scientific networks, deployed RFID technology at a blood bank it runs at the Liverpool Hospital, Sydney, Australia. It will allow the hospital to track blood products throughout the process of the supply chain. The increasing adoption of RFID technology for blood monitoring will fuel the market growth.”
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According to the RFID Blood Monitoring Systems Market report, robust guidelines enabling use of RFID for blood monitoring is a key driver contributing to this market’s growth. The International Society of Blood Transfusion (ISBT) Working Party on Information Technology voted in 2006 to form a task force on RFID to review the state of RFID development and recommend guidelines for the application of RFID in transfusion medicine. The guidelines cover the use of RFID in the blood product supply chain from bag manufacturing to the donor and the individual. ISBT128 provides data structures related to manufacturers of blood bags, namely the container lot number, container manufacturer and catalog number, and the expiry date. Eventually in 2007, the Transfusion Medicine RFID Consortium was formed to research the applicability of RFID methods and devices to identify and track blood products from the point of collection and distribution to final disposition or transfusion. Also, in May 2013, the US FDA approved the use of a RFID device, iTrace, to store and track the manufacturing information of blood products including the collection, processing, and labeling of the component. Such initiatives will support market growth during the forecast period.

Report also presents Geographical Segmentation analysis of RFID Blood Monitoring Systems Market of Americas, APAC, EMEA region.

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Further, the RFID Blood Monitoring Systems Market report states that high initial investment and maintenance cost is a major challenge this market is facing. The high initial costs of RFID systems have restricted adoption of these devices. The start-up costs of RFID implementation in an 800-bed hospital will be in the range of $20,000 to $1 million, depending on the requirement. Also, according to the College of American Pathologists, RFID tags were 10-15 times more expensive than barcode systems. A passive tag costs between $0.1 (10 cents) and $0.5 (50 cents), while active tags are priced between 50 cents and $50. This has resulted in the slow adoption of RFID in blood monitoring. Another reason for slow adoption of RFID in hospitals is high maintenance costs. These factors will have a significant impact on the growth of the market.
Key questions answered in RFID Blood Monitoring Systems market report:
• What will the RFID Blood Monitoring Systems market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving RFID Blood Monitoring Systems market?
• What are the challenges to RFID Blood Monitoring Systems market growth?
• Who are the key vendors in RFID Blood Monitoring Systems market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

No of Pages: 65
Price of Report: $ 2500 (Single User License)
Purchase Report @
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Market Reports World
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Markets Reports World

Ameya Pingaley

+1 408 520 9750

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