Healthcare/Pharma RFID Revenue to Top $2,000 Million

When compared to other verticals still struggling to define the potential returns of RFID, the business case for RFID within the healthcare and pharmaceutical markets has immediate perceivable benefits. Analysis from Frost & Sullivan, "World RFID in Healthcare and Pharmaceutical Applications Markets", reveals that the RFID in healthcare and pharmaceutical applications markets earned revenue of $370 million in 2004 and estimates revenue will reach $2,318.8 million in 2011. Beyond efficient supply chains and economic value to patient safety, RFID would help improve the process of developing drugs and running clinical trials of drugs; managing critical care assets and hospital equipment; and cutting down on counterfeiting and diversion of pharmaceutical products.