PUBLISHER: Grand View Research | PRODUCT CODE: 1571787
PUBLISHER: Grand View Research | PRODUCT CODE: 1571787
The global RFID Kanban systems market size is expected to reach USD 9.53 billion by 2030, registering a CAGR of 25.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing cases of stock-outs, over inventory, clerical errors, and growing demand for real-time asset and inventory tracking are some factors expected to drive market growth over the next six years. Furthermore, high cost incurred due to medication expiration, increasing demand for the FIFO system, and the implementation of lean inventory management is expected to boost market growth over the forecast period.
North America dominated the global market with revenue share of 44.2% in 2023. Economic development, increasing demand for process optimization, rising awareness level amongst healthcare organizations pertaining to the benefits associated with RFID kanban systems are some major drivers of this market.
The presence of a large gap between the need for hospital inventory management and the availability of real-time inventory management solutions has resulted in high growth potential for the U.S. market. RFID based kanban systems have been incorporated by certain healthcare facilities. However, a large percentage of hospitals have yet to make this transition.