ALBANY, New York, March 18, 2016 /PRNewswire/ -- Blood transfusion and handling errors can be fatal and costly. This has driven many organizations worldwide to use advanced RFID blood monitoring systems that can help keep such errors in check. Transparency Market Research, in a new report, states that the RFID blood monitoring systems market will also receive a thrust from the demand for ancillary RFID-enabled equipment such as cabinets and refrigerators. The findings of the study are presented in a report titled, 'RFID Blood Monitoring Systems (Blood Refrigerators and Freezers) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013-2019.'
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According to the report, the global RFID blood monitoring systems market will rise in valuation to US$174.2 mn by 2019, up from its 2012 valuation of US$40.9 mn. The report is projected to have a compounded annual growth rate (CAGR) of 22.80% CAGR from 2013 through 2019.
RFID blood monitoring has made the tracking, stocking, and management of blood and blood products several times more efficient. This has garnered the interest of blood banks and hospitals in RFID blood monitoring systems. Managing an inventory of blood and blood products requires a high degree of precision as the smallest error can prove fatal. This has been the prime reason for the adoption of blood monitoring and tracking systems that use RFID. By deploying such systems, hospitals and blood banks have reported a decrease in the number of human errors as well as efforts. The technology has also facilitated documentation and patient management.
Browse RFID Blood Monitoring Systems (Blood Refrigerators and Freezers) Market: http://www.transparencymarketresearch.com/blood-monitoring-systems.html
As the number of blood transfusions increases globally (owing mainly to a rapidly graying population and an increase in diseases and conditions calling for blood transfusion), more blood and blood products are needed.
