Market Research Reports

RFID Blood Monitoring Systems (Blood Refrigerators and Freezers) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019

92pages
Published Date: 2013-07-30

Description



Radio frequency identification or RFID, is a technology that enables the wireless transfer of data via electromagnetic fields. RFID tags, which contain electronically-stored information, can be used for tracking objects. The healthcare industry is now becoming aware of the various uses of RFID, especially as a means to prevent human error and promote overall efficiency in the tracking and monitoring of products and devices. The report on the RFID blood monitoring systems primarily studies freezers and blood refrigerators that are typically deployed in hospitals and blood banks.

The report analyzes the RFID blood refrigerators and freezers market on the basis of both volume and revenue from sales. The key end-users considered for these valuations are blood banks and hospitals. The sales revenue and volume is calculated basis average selling price of RFID blood freezers and refrigerators. These prices have been obtained from sources such as expert interviews, device manufacturers and journals.

The report comprises a detailed analysis of the market dynamics such as drivers, restraints, and opportunities. In-depth analysis is carried out for all major geographical markets in the global RFID blood monitoring systems market. These include: North America, Europe, Asia Pacific, and Rest of the World. The regulatory status of each of these markets is discussed in a separate section.

Overall, the report on the global RFID blood monitoring systems market is a valuable resource for both new and established market players. It will serve as a decision-making tool thanks to its pool of accurate and useful data. 

Overview of the RFID Blood Monitoring Systems Market

RFID refrigerators serve many needs in hospitals, blood banks, and diagnostic laboratories, and research institutions. Storing and accurately tracking blood samples becomes far more efficient and time-saving when RFID refrigerators and freezers are used. As this trendline progresses, it is expected that manual tracking of blood samples will gradually become obsolete and RFID blood monitoring systems will eventually take over. 

A sharp focus on reducing errors during blood storage and transfusion has create a lucrative opportunity for companies manufacturing and selling RFID blood monitoring systems (blood freezers and refrigerators). As more hospitals and blood banks become aware about the availability of RFID-enabled blood storage cabinets and refrigerators, they also show more willingness to invest in them. Most hospitals customarily use bar coded tracking systems as well as note-taking systems. If errors continue to persist despite the implementation of these systems, it creates a white space that companies in the RFID blood monitoring systems market can fill.

In developing regions, the divestments by public healthcare organizations will boost the demand for state-of-the-art blood monitoring and tracking systems, which private healthcare establishments are ready to invest in. Despite these push factors, the high costs of investing in RFID technology means that not all organizations show the same degree of readiness; this a major pull factor in the global RFID blood monitoring systems market. 

Nevertheless, penetration rates of RFID blood monitoring systems are still low in the overall healthcare industry, and this represents a space that can be monetized effectively. When companies plan their strategies, it is recommend that they do so in close compliance with the latest global standards.

Companies Profiled

Currently, there are a handful of companies that rake in the lion’s share of revenues in the global RFID blood monitoring systems market, freezers, and refrigerators market. Companies that lead include: Biolog ID, Magellan Technologies, and Terso Solutions. With the FDA having recently given its stamp of approval for RFID-enabled blood tracking systems, the market will receive an impetus.

The global RFID blood refrigerators and freezers market is segmented as follows:

RFID Blood Refrigerators and Freezers Market, by Geography
  • North America
    • Hospital blood centers
    • Blood banks
  • Europe
    • Hospital blood centers
    • Blood banks
  • Asia-Pacific
    • Hospital blood centers
    • Blood banks
  • Rest of the World (RoW)
    • Hospital blood centers
    • Blood banks

Table of Contents



Chapter 1 Introduction
1.1 Report Description
1.2 Research Methodology
      1.2.1 Sources
               1.2.1.1 Secondary Research
               1.2.1.2 Primary Research
1.3 Assumptions
1.4 List of Abbreviations

Chapter 2 Executive Summary
2.1 RFID Blood Refrigerators and Freezers Market, by Geography, 2012 (USD Million)
2.2 RFID Blood Refrigerators and Freezers Market Volume, by Geography, 2012 (Units)

Chapter 3 Market Overview
3.1 Market Trends and Future Outlook
3.2 Drivers
      3.2.1 Need to Efficiently Manage Blood and Blood Products Inventory and Ensure Minimum Blood Transfusion Errors
      3.2.2 Increase in the Demand for RFID-Enabled Refrigerators and Cabinets
3.3 Restraints
      3.3.1 Reluctance Pertaining to Adoption of RFID Systems
      3.3.2 High Cost of RFID Technology
3.4 Opportunities
      3.4.1 Low Penetration Rate of RFID-Enabled Tracking Solutions in Healthcare Industry
      3.4.2 Manufacturing Blood Tracking Solutions in Conformity With Global Standards
3.5 Market Attractiveness Analysis: Global RFID Blood Monitoring Systems (Blood Refrigerators and Freezers) Market, by Geography, 2012
3.6 Regulatory Status for Using RFID: Presence of Governing Bodies and Their Roles, by Geography
      3.6.1 North America
      3.6.2 Europe
      3.6.3 Asia-Pacific
      3.6.4 Rest of the World
3.7 Growth in Tracking Medical Equipment, Pharmaceuticals and Other Hospital Supplies, Current Trends and Future Perspective
      3.7.1 Comparative Analysis: Global Market for RFID in Healthcare, by Applications, 2012 & 2019 (value %)
      3.7.2 Asset Management and Tracking
      3.7.3 Patient Tracking
      3.7.4 Pharmaceuticals Tracking
      3.7.5 Blood Monitoring

Chapter 4 Global RFID Blood Monitoring Systems (Blood Refrigerators and Freezers) Market
4.1 Overview
      4.1.1 Global RFID Blood Refrigerators and Freezers Market, by Geography, 2011 – 2019 (USD Million)
      4.1.2 Global RFID Blood Refrigerators and Freezers Market Volume, by Geography, 2011 – 2019 (Units)

Chapter 5 RFID Blood Monitoring Systems (Blood Refrigerators and Freezers) Market, By Geography
5.1 Overview
5.2 Comparative Analysis: Global RFID Blood Monitoring Systems Market, By Geography, 2012 & 2019 (Value %)
5.3 North America
      5.3.1 North America RFID Blood Refrigerators and Freezers Market, 2011 – 2019 (USD Million)
      5.3.2 RFID Blood Refrigerators and Freezers
              5.3.2.1 Hospital Blood Centers
                         5.3.2.1.1 North America RFID Blood Refrigerators and Freezers Hospital Blood Centers Market Volume, 2011 – 2019 (Units)
                         5.3.2.2 Blood Banks
                         5.3.2.2.1 North America RFID Blood Refrigerators and Freezers in Blood Banks Market Volume, 2011 – 2019 (Units)
      5.3.3 Non-RFID blood freezers and fridges
              5.3.3.1 Hospital Blood Centers
                         5.3.3.1.1 North America Non-RFID Blood Refrigerators and Freezers in Hospital Blood Centers Market Volume, 2011 – 2019 (Units)
            5.3.3.2 Blood Banks
                       5.3.3.2.1 North America Non-RFID Blood Refrigerators and Freezers in Blood Banks Market Volume, 2011 – 2019 (Units)
      5.3.4 List of Major Blood Banks and Hospital Blood Centers in North America
5.4 Europe
      5.4.1 Europe RFID Blood Refrigerators and Freezers Market, 2011 – 2019 (USD Million)
      5.4.2 RFID Blood Refrigerators and Freezers
              5.4.2.1 Hospital Blood Centers
                         5.4.2.1.1 Europe RFID Blood Refrigerators and Freezers in Hospital Blood Centers Market Volume, 2011 – 2019 (Units)
              5.4.2.2 Blood Banks
                         5.4.2.2.1 Europe RFID Blood Refrigerators and Freezers in Blood Banks Market Volume, 2011 – 2019 (Units)
     5.4.3 Non-RFID blood freezers and fridges (volume)
              5.4.3.1 Hospital Blood Centers
                          5.4.3.1.1 Europe Non-RFID Blood Refrigerators and Freezers in Hospital Blood Centers Market Volume, 2011 – 2019 (Units)
              5.4.3.2 Blood Banks
                         5.4.3.2.1 Europe Non-RFID Blood Refrigerators and Freezers in Blood Banks Market Volume, 2011 – 2019 (Units)
      5.4.1 List of Major Blood Banks and Hospital Blood Centers in Europe
5.6 Asia-Pacific
      5.6.1 Asia-Pacific RFID Blood Refrigerators and Freezers Market, 2011 – 2019 (USD Million)
      5.6.2 RFID Blood Refrigerators and Freezers
               5.6.2.1 Hospital Blood Centers
               5.6.2.2 Asia-Pacific RFID Blood Refrigerators and Freezers in Hospital Blood Centers Market Volume, 2011 – 2019 (Units)
               5.6.2.3 Blood Banks
               5.6.2.4 Asia-Pacific RFID Blood Refrigerators and Freezers in Blood Banks Market Volume, 2011 – 2019 (Units)
      5.6.3 Non-RFID Blood Refrigerators and Freezers
               5.6.3.1 Hospital Blood Centers
                           5.6.3.1.1 Asia-Pacific Non-RFID Blood Refrigerators and Freezers in Hospital Blood Centers Market Volume, 2011 – 2019 (Units)
               5.6.3.2 Blood Banks
                           5.6.3.2.1 Asia-Pacific Non-RFID Blood Refrigerators and Freezers in Blood Banks Market Volume, 2011 – 2019 (Units)
      5.6.4 List of Major Blood Banks and Hospital Blood Centers in Asia-Pacific
5.7 Rest of the World
      5.7.1 RoW RFID Blood Refrigerators and Freezers Market, 2011 – 2019 (USD Million)
      5.7.2 RFID blood Refrigerators and Freezers
              5.7.2.1 Hospital Blood Centers
              5.7.2.2 RoW RFID Blood Refrigerators and Freezers in Hospital Blood Centers Market Volume, 2011 – 2019 (Units)
              5.7.2.3 Blood Banks
              5.7.2.4 RoW RFID Blood Refrigerators and Freezers in Blood Banks Market Volume, 2011 – 2019 (Units)
      5.7.3 Non-RFID blood refrigerators and freezers
              5.7.3.1 Hospital Blood Centers
                         5.7.3.1.1 RoW Non-RFID Blood Refrigerators and Freezers in Hospital Blood Centers Market Volume, 2011 – 2019 (Units)
              5.7.3.2 Blood Banks
                          5.7.3.2.1 RoW Non-RFID Blood Refrigerators and Freezers in Blood Banks Market Volume, 2011 – 2019 (Units)
       5.7.4 List of Major Blood Banks and Hospital Blood Centers in RoW

Chapter 6 Competitive Landscape and Recommendations
6.1 List of Major Manufacturers, by Geography
6.2 Market strategy for success

Chapter 7 Company Profiles
7.1 Champion Medical Technologies
       7.1.1 Company Overview
       7.1.2 Financial Overview
       7.1.3 Strategic Overview
       7.1.4 Product Portfolio
       7.1.5 Recent Developments
7.2 LPIT Solutions, Inc.
       7.2.1 Company Overview
       7.2.2 Strategic Overview
       7.2.3 Financial Overview
       7.2.4 Product Portfolio
       7.2.5 Recent Developments
7.3 Magellan Technology Pty. Ltd.
       7.3.1 Company Overview
       7.3.2 Strategic Overview
       7.3.3 Financial Overview
       7.3.4 Product Portfolio
       7.3.5 Recent Developments
7.4 RURO, Inc.
       7.4.1 Company Overview
       7.4.2 Strategic Overview
       7.4.3 Financial Overview
       7.4.4 Product Portfolio
       7.4.5 Recent Developments
7.5 SysLogic, Inc.
       7.5.1 Company Overview
       7.5.2 Strategic Overview
       7.5.3 Financial Overview
       7.5.4 Product Portfolio
       7.5.5 Recent Developments
7.6 Terso Solutions, Inc.
       7.6.1 Company Overview
       7.6.3 Financial Overview
       7.6.4 Product Portfolio
       7.6.5 Recent Developments
7.7 ThingMagic, Inc.
       7.7.1 Company Overview
       7.7.2 Strategic Overview
       7.7.3 Financial Overview
       7.7.4 Product Portfolio
       7.7.5 Recent Developments

List of Figures

FIG. 1 RFID Blood Refrigerators and Freezers Market, by Geography, 2012 (USD Million)
FIG. 2 RFID Blood Refrigerators and Freezers Market Volume, by Geography, 2012 (Units)
FIG. 3 Market Attractiveness Analysis: Global RFID Blood Monitoring Systems (Blood Refrigerators and Freezers) Market, By Geography, 2012
FIG. 4 Comparative Analysis: Global Market for RFID in Healthcare, By Applications, 2012 & 2019 (Value %)
FIG. 5 Comparative Analysis: Global RFID Blood monitoring systems Market, By Geography, 2012 & 2019 (Value %)
FIG. 6 North America RFID Blood Refrigerators and Freezers Market, 2011 – 2019 (USD Million)
FIG. 7 North America RFID Blood Refrigerators and Freezers Hospital Blood Centers Market Volume, 2011 – 2019 (Units)
FIG. 8 North America RFID Blood Refrigerators and Freezers in Blood Banks Market Volume, 2011 – 2019 (Units)
FIG. 9 North America Non-RFID Blood Refrigerators and Freezers in Hospital Blood Centers Market Volume, 2011 – 2019 (Units)
FIG. 10 North America Non-RFID Blood Refrigerators and Freezers in Blood Banks Market Volume, 2011 – 2019 (Units)
FIG. 11 Europe RFID Blood Refrigerators and Freezers Market, 2011 – 2019 (USD Million)
FIG. 12 Europe RFID Blood Refrigerators and Freezers Hospital Blood Centers Market Volume, 2011 – 2019 (Units)
FIG. 13 Europe RFID Blood Refrigerators and Freezers in Blood Banks Market Volume, 2011 – 2019 (Units)
FIG. 14 Europe Non-RFID Blood Refrigerators and Freezers in Hospital Blood Centers Market Volume, 2011 – 2019 (Units)
FIG. 15 Europe Non-RFID Blood Refrigerators and Freezers in Blood Banks Market Volume, 2011 – 2019 (Units)
FIG. 16 Asia-Pacific RFID Blood Refrigerators and Freezers Market, 2011 – 2019 (USD Million)
FIG. 17 Asia-Pacific RFID Blood Refrigerators and Freezers in Hospital Blood Centers Market Volume, 2011 – 2019 (Units)
FIG. 18 Asia-Pacific RFID Blood Refrigerators and Freezers in Blood Banks Market Volume, 2011 – 2019 (Units)
FIG. 19 Asia-Pacific Non-RFID Blood Refrigerators and Freezers in Hospital Blood Centers Market Volume, 2011 – 2019 (Units)
FIG. 20 Asia-Pacific Non-RFID Blood Refrigerators and Freezers in Blood Banks Market Volume, 2011 – 2019 (Units)
FIG. 21 RoW RFID Blood Refrigerators and Freezers Market, 2011 – 2019 (USD Million)
FIG. 22 RoW RFID Blood Refrigerators and Freezers Hospital Blood Centers Market Volume, 2011 – 2019 (Units)
FIG. 23 RoW RFID Blood Refrigerators and Freezers in Blood Banks Market Volume, 2011 – 2019 (Units)
FIG. 24 RoW Non-RFID Blood Refrigerators and Freezers in Hospital Blood Centers Market Volume, 2011 – 2019 (Units)
FIG. 25 RoW Non-RFID Blood Refrigerators and Freezers in Blood Banks Market Volume, 2011 – 2019 (Units)

List of Tables

TABLE 1 Snapshot: Global RFID Blood Monitoring Systems (Blood Refrigerators and Freezers) Market
TABLE 2 Global RFID Blood Refrigerators and Freezers Market, by Geography, 2011 – 2019 (USD Million)
TABLE 3 Global RFID Blood Refrigerators and Freezers Market Volume, by Geography, 2011 – 2019 (Units)
TABLE 4 North America Blood Refrigerators and Freezers Market Volume, 2011 – 2019 (Units)
TABLE 5 North America Non-RFID Blood Refrigerators and Freezers Market Volume, 2011 – 2019 (Units)
TABLE 6 Europe RFID Blood Refrigerators and Freezers Market Volume, 2011 – 2019 (Units)
TABLE 7 Europe Non-RFID Blood Refrigerators and Freezers Market Volume, 2011 – 2019 (Units)
TABLE 8 Asia-Pacific Blood Refrigerators and Freezers Market Volume, 2011 – 2019 (Units)
TABLE 9 Asia-Pacific Non-RFID Blood Refrigerators and Freezers Market Volume, 2011 – 2019 (Units)
TABLE 10 RoW Blood Refrigerators and Freezers Market Volume, 2011 – 2019 (Units)
TABLE 11 RoW Non-RFID Blood Refrigerators and Freezers Market Volume, 2011 – 2019 (Units)

Free Market Analysis


RFID blood monitoring is a technology used for tracking and inventory management of blood and blood products in hospitals and blood banks. The RFID blood monitoring systems market has made a significant impact on global healthcare industry, prime reason being increased adoption of RFID tracking systems in reducing human efforts and errors in maintenance and control of healthcare inventory, documentation and patient management.

High prevalence of blood disorders and growing need for therapeutic blood transfusion has increased the demand for blood and blood products globally. The simultaneous increase in the aging population demanding blood transfusion and consequent rise in need for inventory management of blood banks and hospital blood centers can be efficiently managed by using RFID blood tracking solutions. Proper installation and implementation of RFID blood tracking solutions also result in cost containment in the long run to medical institutions. RFID enabled smart refrigerators being one of the fastest growing segments in this market, has witnessed an upswing in the demand of such equipment in blood banks and in hospital blood centers. Though at budding stage, the demand for RFID blood refrigerators and freezers is expected to propel due to the increasing demand for blood products. The market for RFID blood refrigerators and freezers was worth USD 32.8 million in 2011 and is expected to undergo double digit growth in the upcoming years.

Being one of the most regulated industries across the world, healthcare industry requires compliance criteria to be met at every stage of product management. RFID has the potential of improving patient safety and providing seamless healthcare service to the ever increasing patient pool through efficient inventory reduction and management, increased labor efficiency and overall operational automation. The market for application of RFID refrigerators and freezers in blood banks and hospital blood centers is still at a developing stage and further acceptance and growth of this market is expected in near future. The market players in the RFID blood refrigerators and freezers industry offer both retrofitting of conventional blood refrigerators as well as manufacture of new solutions.

Consultants, hospitals and other medical facilities hold a view that tracking systems of RFID are easy to use and the staff members of such facilities seem to largely benefit from the use of this technology. Real time savings is an added advantage of installation of RFID blood tracking systems. Lengthy lists of RFID solution providers showcase signs that hospitals are becoming increasingly interested in adopting these systems as well as an increase in facility-wide installation of RFID systems.

 

Geographically, North America dominates the global RFID blood refrigerators and freezers market. Growing acceptance of RFID tracking technology by major industries and verified efficiency in hospitals through long-term use of RFID systems drives the market for RFID blood monitoring in North America. In addition, technology advancements, developing healthcare infrastructure, increased funding to healthcare organizations and need for efficient inventory management of blood products ensuring reduced blood transfusion errors with the use of RFID enabled refrigerators and cabinets in emerging economies are the major factors which drive the Asia-Pacific, Latin American and Middle Eastern market. 


rfid-blood-refrigerators-and-freezers-market-by-geography-2012

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