Radiofrequency identification (RFID) is a technique used by many industries, including the healthcare industry, to identify and track assets. Primarily used in retail and industrial applications, the radiofrequency identification technique is slowly gaining traction in the healthcare industry. It is being increasingly used by health care facilities to track patients and staff. RFID systems consist of a transponder and a detector. The data from the transponder is transferred to the detector using radiofrequency waves, and the detector reads or writes the data. The implantable radiofrequency identification transponder system is an advanced version of the traditionally used radiofrequency identification tags that were attached to the patients as wristbands, tags, etc. In implantable radiofrequency identification transponder systems, the transponder is implanted in the patient or asset. It emits signals that are detected by the detector. Various forms of radiofrequency are used to emit data from the transponder to track and identify patients and staff.

Increase in difficulties in tracking and identifying patients and staff by health care facilities is leading to delays in procedures and treatment. This has been one of the major reasons for rise in indirect costs of health care facilities around the world. Increase in applications of implantable radiofrequency identification transponder systems in health care settings and rise in focus of health care facilities on lowering indirect health care costs are some of the major reasons boosting demand for and adoption of implantable radiofrequency identification transponder systems by health care facilities around the world. New and advanced products are being introduced in the market and an increasing number of products are receiving regulatory approvals. This is further anticipated to drive demand for implantable radiofrequency identification transponder systems in the global market from 2018 to2026. However, lack of awareness about the products and patient and staff compliance for implantable radiofrequency identification transponders, and high cost of maintenance are some of the major factors expected to restrain the global implantable radiofrequency identification transponder systems market during the forecast period.

The global implantable radiofrequency identification transponder systems market can be segmented based on product, technique, end-user, and region. Based on product, the global implantable radiofrequency identification transponder systems can be categorized into transponders and detectors. The transponders segment accounted for a dominant share of the global market in 2017, owing to higher price and rising number of unit sales of transponders in the U.S. and European countries. In terms of technique, the global implantable radiofrequency identification transponder systems can be classified into active radiofrequency technique, backscatter radiofrequency technique, and passive radiofrequency technique. The active radiofrequency technique segment is anticipated to dominate the global market in 2018, owing to distinct benefits of the technique such as longer range of data transfer and comparatively lower price. Based on end-user, the global implantable radiofrequency identification transponder systems market can be divided into hospitals, long-term care centers, diagnostic centers, and others. The hospitals segment dominated the global implantable radiofrequency identification transponder systems market in 2017.

In terms of region, the global implantable radiofrequency identification transponder systems market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global implantable radiofrequency identification transponder systems market in 2017 and is expected to continue its dominance from 2018 to 2026. Rise in adoption of techniques in hospitals and increase in patient and staff compliance for implantable RFID transponder systems are some of the major factors expected to lead to a higher share of the region in the global market. The market in Europe is projected to expand at a comparatively higher CAGR during the forecast period. The market in Asia Pacific is expected to expand significantly between 2018 and 2026.

Key players operating in the global implantable radiofrequency identification transponder systems market include EM Microelectronic-Marin SA, Alien Technology, LLC., LUX-IDent s.r.o., BioTeq Limited, and APPLIED DIGITAL SOLUTIONS, INC.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Implantable Radiofrequency Identification Transponder Systems Market

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