The Healthcare RFID Industry to Grow 25% Annually for the Next 5 Years

In the next seven years it is expected that RFID usage is expected to rise in healthcare. The healthcare market is expected to witness USD $3.89 billion of RFID technology to monitor product and patient tracking until 2022. TexTrace RFID and Smart Face Technology are expected to be most popular and in demand to track efficiency and accuracy of inventory and supply. By 2022, the adoption of RFID technology is expected to rise especially due to the statistic published by the National Institute of Health (2013), that there are approximately 98,000 deaths in hospitals as a result of medical deficiencies or errors. As a result, RFID enactment is expected to rise, especially in healthcare. The new report was published by market research analyst firm Grand View Research.