LONDON–(BUSINESS WIRE)–Technavio has announced the top five leading vendors in their recent global RFID blood monitoring systems market report until 2020. This research report also lists nine other prominent vendors that are expected to impact the market during the forecast period.
Technavio announces top five leading vendors in the global RFID blood monitoring systems market until 2020.
| The global RFID blood monitoring systems market is expected to grow at 22.96% during the forecast period. |
The increasing need for effective monitoring of the blood products to reduce medical errors, and thereby reduce medical wastage is driving the market growth. RFID systems and tags provide effective monitoring of blood products and improve supply chain efficiencies. Also, the increasing adoption of RFID systems, particularly in the Americas and Europe, is expected to drive the market growth. For instance, in May 2016, Aegis Sciences Corporation employed an RFID-based solution to monitor the status of the blood and urine samples
In addition, the endorsements from blood banks and healthcare organizations are further expected to increase the adoption of RFID blood monitoring systems worldwide. For instance, in March 2016, Australia’s National Blood Bank endorsed the use of Space Code’s RFID system at the Liverpool Hospital in Sydney. Such endorsements have increased the penetration of RFID devices in blood monitoring
Competitive vendor landscape
The global RFID blood monitoring systems market is characterized by the presence of international and regional vendors. With the growing demand for effective monitoring of blood products, these vendors are pursuing organic growth strategies, thereby fueling the market growth. These vendors have developed new products that feature improved speeds and accurate monitoring. The vendors are also focusing on launching ultra-high-frequency RFID systems to improve the monitoring of blood products.
Barath Palada, one of the lead analysts at Technavio for research on patient monitoring devices, says, “The vendors are continuously promoting their products, which has resulted in increased adoption of RFIDs in hospitals and blood banks. Hospitals are increasingly adopting RFID systems to reduce errors and improve patient safety, prevent counterfeit products, improve patient flow management, productivity, and business process.”
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Top five global RFID blood monitoring systems market vendors
Biolog-Id
It specializes in the development of traceability solutions for blood products such as plasma for fractionation, packed red blood cells, platelets, therapeutic plasma and chemotherapy injectables. The company provides RFID solutions for the handling and processing of frozen plasma, hospital transfusion process, and blood processing. Its applications are connected with a database and smart storage units, which enables hospitals and transfusion centers to manage products right up to the patient’s bedside.
Mediware Information Systems
The company offers a BloodSafe suite, which enables healthcare facilities to monitor, distribute, store, and track blood products. It also offers LifeTrak software, which provides recruiting software products and capabilities for donor targeting and recruitment, unit testing, blood component manufacturing, donation management, inventory control, and sales and distribution.
S3Edge
The company offers products and solutions that help in providing greater visibility to blood products location, movement, and status. It automates blood bag check-in at donor sites, eliminates line-of-sight requirements for checking in blood products to the manufacturing process, and streamlines the process of preparing blood products for shipment to hospitals or transfusion centers. The company was partly funded by two grants from the National Institutes of Health, along with an early grant from the America’s Blood Centers (ABC) Foundation for the development of iTrace.
SATO Vicinity
The company offers a broad range of RFID readers and trackers. Its solutions hold high potential for prevention of medical malpractice and loss caused at the hospitals due to thefts. It helps in shortening production lead time to achieve energy savings, improving traceability to reduce inventory shrinkage, or maintaining required temperatures to avoid spoilage/wastage. These solutions have the potential to reduce environmental impact significantly.
Terso Solutions
The company offers a wide range of RFID cabinet, RFID freezers, and RFID refrigerators. It expanded its line of RFID-enabled enclosures with the addition of a larger capacity freezer that is well suited for inventory management in research labs, hospitals, manufacturers and distributors, and crime labs. It has deployed over 1,600 RFID-enabled devices around the world. Hospitals can control material management costs, improve regulatory compliance, and manage product expiration dates by pairing Terso’s hosted RFID inventory management solution with a proven higher capacity freezer.
The other prominent vendors are:
- Honeywell
- LogiTag
- Mobile Aspects
- Nordic ID
- Solstice Medical
- Stanley Healthcare
- TAGSY RFID
- WaveMark
- Zebra Technologies
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- Global RFID Market for Industrial Applications 2016-2020
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
