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Patient safety drives market for smart cabinet systems

Source:Ringier Medical

Date Published:6/24/2015 09:06:11 PM

Cloud-based RFID cabinet solutions will garner widespread interest, finds Frost & Sullivan
ASSETS tracking, supply chain management, and inventory management will drive the adoption of radio frequency identification (RFID) solutions in the healthcare and pharmaceutical industries. In particular, new analysis from Frost & Sullivan finds that the need for inventory management to reduce instances of loss or misplacement of medical equipment, supplies or drugs, along with efforts to minimize errors and improve patient safety, will drive the market for RFID smart cabinet systems.
This research, Market Opportunity for RFID Smart Cabinet Systems in Healthcare, reports that the uptake of RFID smart cabinets is likely to gather momentum over the next three to five years, with the United Kingdom, Germany, France, Italy, and Spain as leading markets.
"The low infrastructure costs and quick returns associated with RFID smart cabinets encourage their adoption in hospitals," said Frost & Sullivan Healthcare research analyst Shruthi Parakkal. "End users prefer RFID smart cabinets with cost-effective architecture that eliminates redundancies – such as multiple paths – and reduces interference."
Ms Parakkal also noted that RFID cabinets with cloud-based integrated analytics that can be accessed through web applications will become popular, facilitated by the Internet of Things and Near Field Communications. Continued and growing recognition of the technology's potential to improve outcomes and efficiency in a healthcare environment will keep the RFID smart cabinets market on track towards swift growth.
The study focuses on RFID smart cabinet systems that track equipment and medical supplies in a healthcare environment. It aims to analyse the technological advancements in RFID smart cabinet systems and includes the business models of key market participants in this space. The research also covers the market adoption of RFID smart cabinet systems and discusses the factors that impact such adoption.
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