Transforming Healthcare: Insights into the RFID in Healthcare Market
The global RFID In healthcare market size is expected to reach USD 14.65 billion by 2030 and register a CAGR of 17.85% from 2023 to 2030, according to a new report by Grand View Research, Inc. The need to increase the quality and effectiveness of healthcare as well as the rising focus on reducing operational costs and streamlining the workflow are some of the major drivers for the market growth. Pharmaceutical companies, medical device providers, hospitals, and other such organizations are integrating this technology to help control their inventory costs. RFID tags assist with efficient inventory management, preventing stockouts and overstocking. Furthermore, they provide surgical staff with a way of easily tracking medical devices used in operation theatres, thereby enhancing patient safety. As organizations strive to reduce their operational costs, they are increasingly turning to RFID technology. This technology is also used in laboratories, blood banks, and...