Cloud-based Radio frequency identification (RFID) cabinet solutions that can be accessed using web and mobile applications will likely gather momentum over the next three to five years, research and analyst firm Frost & Sullivan predicts.
“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.”
In the past few years, RFID has been found to be making a rapid headway into the healthcare and pharmaceutical industries, especially in assets tracking, supply chain management, and inventory management.
The need for inventory management to reduce instances of loss or misplacement of medical equipment, supplies or drugs, along with efforts to minimise errors and improve patient safety are some of the market drivers for RFID smart cabinet systems.
“In the long run, virtual management and managed services that involve minimum capital and overhead expenses will gain traction over the outright purchase of cabinets,” said Parakkal. “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.