Key vendors are developing new technologically advanced products to increase their sales
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global RFID blood monitoring systems market in their latest research report. This report also lists 9 other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated by the sales of RFID blood monitoring systems to hospitals, blood banks, and research laboratories.
- RFID systems: RFID blood monitoring systems include refrigerators and freezers that are used in hospitals, blood banks, and research laboratories. The use of RFID refrigerators and freezers, storing and tracking of blood samples becomes far more efficient and time saving.
- RFID tags: The tags include a small chip with an antenna and a memory and data can be read and write multiple times, from these tags, by using radio waves. Sensory tags and alternative tag designs include smart active label (SAL) technology, which are at low risk when they come in contact with liquid or metals.
This Technavio report, under patient monitoring devices vertical, is based on the synthesis, analysis, and interpretation of information about the global RFID blood monitoring systems market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
There is a presence of both international and regional players in the market. The vendors are pursuing organic growth strategies to meet the raising requirement for effective monitoring of blood products. The manufacturers are also focusing developing new products that feature improved speeds and accurate monitoring. Many vendors are launching ultra-high-frequency RFID systems to improve the monitoring of blood products. The businesses are promoting their products, which has resulted in increased adoption of RFIDs in hospitals and blood banks and also to sustain the intense competition in the market. Technologically advanced systems launched by several sellers reduce errors and improve patient safety, prevent counterfeit products, improve patient flow management, productivity, and business process.
“The vendors are focusing on developing new technologically advanced products like ultra-high-frequency RFID tags. The advancement in technology will improve the storage, tracking, and management of data and samples and minimize the errors related to manual sample handling. The sellers are offering attractive prices to hospitals and blood banks to increase their sales volume,” says Barath Palada, a lead analyst at Technavio for research on patient monitoring devices.
Top five vendors in the RFID blood monitoring systems space
Biolog-Id
It develops RFID-based traceability solution tags for blood products and processes used for plasma for fractionation, labile blood components, and chemotherapies. It offers animal identification tools and services for livestock, pets, and animal reserves. Recently, the company introduced the RFID traceability system for the LFB Group. Bags containing plasma for fractionation leaving for EFS centers will be incorporated with RFID chips.
Key products: BIOLOG Transfusion and BIOLOG Fractionation.
Mediware Information Systems
The company designs, develops, and commercializes specialized healthcare software solutions. 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. In recent times, the company’s LifeTrak blood donor software became operational in military treatment facilities.
Key products: LifeTrak and BloodSafe Solution Suite.
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. Recently, the company received the US FDA approval for iTrace, the world’s first RFID-enabled blood tracking device. It is capable of automatically identifying, reconciling, and tracking blood products.
Key product: 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. In recent times, the company launched the PJM RFID-enabled Cabinet at the American Academy of Orthopedic Surgeons 2015 Annual Meeting held in Las Vegas, Nevada, US.
Key products: PJM RFID Tags and PJM RFID-enabled Cabinet.
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. Recently, the company collaborated with Medical Tracking Solutions to enhance capabilities and provide innovative services to medical device companies.
Some key products: TSO32 RFID Cabinet, TSO30 RFID Cabinet, TSO78 Large RFID Freezer, TS036 -20C Small RFID Freezer, and TS031 -20C Large RFID Freezer.
Other prominent vendors in the market are Honeywell, LogiTag, Mobile Aspects, Nordic ID, Solstice Medical, Stanley Healthcare, TAGSY RFID, WaveMark, and Zebra Technologies.
A more detailed analysis is available in the Technavio report, Global RFID Blood Monitoring Systems Market 2016-2020. Technavio also customizes reports by other regions and specific segments upon request.
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Browse related reports:
- Global RFID Blood Refrigerator and Freezer Market 2016-2020
- Global Multi-Parameter Patient Monitoring Equipment Market 2016-2020
- Global Blood Processing Devices and Consumables Market 2016-2020
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