The global Healthcare Automatic Identification And Data Capture Market size is expected to reach USD 62.0 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 22.3% from 2021 to 2028. The growth is attributed majorly due to the increasing focus of pharmaceutical companies on optimizing the supply chain. For instance, in October 2020, Sandoz launched its first RFID-tagged critical injectable medicines in the U.S.
Furthermore, technological advancements by market
players and favorable government policies pertaining to automatic
identification and data capture (AIDC) solutions are expected to fuel the
market demand in coming years. The National Health Authority of India issued
new guidelines for the Ayushman Bharat scheme. These guidelines for to
introduce biometric authentication at the time of admission and discharge of
the patients. These types of initiatives are anticipated to propel market
growth.
In recent years, RFID tools, which use wireless
communication to identify and track equipment and assets, have seen strong
adoption in healthcare settings. Upgrading of inventory management in
pharmacies, hospitals, life and science companies, high demand for enhanced
patient safety by healthcare providers, and implementation of automated
processes in healthcare facilities are expected to fuel the healthcare RFID
market growth during the forecast period.
The COVID-19 outbreak is also becoming an emerging
driver for the adoption of biometric solutions. As the COVID-19 is revealing
the importance of AIDCs around the world. Hence, it is estimated that the
market will witness lucrative opportunities due to the COVID-19 outbreak.
Related Press Release@ Healthcare Automatic Identification And Data Capture Market
Report
Healthcare Automatic
Identification And Data Capture Market Report Highlights
- The biometric emerged as the largest revenue-generating segment of
the healthcare AIDC market in 2020. Increasing adoption of RFID technology
for AIDC services in the healthcare industry is estimated to drive market
- The hardware segment dominated the market in 2020 owing to the
growing installation of RFID systems. The rising requirement for
hardware-based components in the AIDC devices such as printers, scanners,
readers, cards, and other such systems is expected to drive the market
- The clinical segment is expected to exhibit the fastest growth rate
during the study period. Growing adoption of AIDC for clinical
applications such as blood transfusion verification, medication
administration, verification laboratory specimen identification is
anticipated to drive the market
- Asia Pacific region has emerged as the fastest-growing market
during the forecast period. Existence of a large pharmaceutical industry
requiring this technology for process streamlining
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