Radio Frequency Identification (RFID), a fast-developing technology that uses radio waves to collect and transfer data, is increasingly being adopted in healthcare markets across the Asia Pacific region and around the globe.
A study by Precedence Research found sales of the technology, which consists of a microprocessor that can track a large amount of data wirelessly without having to connect to a reader device, are on the rise. Globally, the compound annual growth rate for RFID is forecasted by the study to be 21% between 2020 and 2027.
Historically, RFID technology has been used in supply chain management, primarily to track goods in warehouses. But now hospitals, pharmacies and other healthcare providers, looking for ways to improve patient safety and track the use of expensive devices, are using RFID for real-time traceability, identification, communication, temperature, and location data.