RFID market size for high value medical consumables

In the field of medical consumables, the initial business model is to be sold directly to hospitals by suppliers of various consumables (such as heart stents, testing reagents, orthopedic materials, etc.), but because of the wide variety of consumables, there are many suppliers, and the decision-making chain of each medical institution is different, it is easy to produce many management problems.

Therefore, the domestic medical consumables field refers to the experience of developed countries in Europe and the United States, and adopts the SPD model for the management of medical consumables, and a special SPD service provider is responsible for the management of consumables.

SPD is a business model for the use of medical equipment and consumables, (supply-supply/processing-split Processing/distribution-distribution), referred to as SPD.

Why RFID technology is so suitable for the needs of this market, we can analyze the business needs of this scenario:

First, because SPD is only a management organization, the ownership of medical consumables before they are not used belongs to the supplier of consumables. For the supplier of medical consumables, these consumables are the core assets of the company, and these core assets are not in the company’s own warehouse. Of course, it is necessary to know in real time which hospital you put your consumables in and how many. There is no need for asset management to be used.

Based on such needs, it is important for suppliers to attach an RFID tag to each medical consumable and upload the data to the system in real time through the reader (cabinet).

Second, for the hospital, the SPD mode not only effectively reduces the cash flow pressure of the hospital, but also through the RFID scheme, it can know in real time which doctor uses each consumable, so that the hospital can be more standardized for the use of consumables.

Third, for the medical regulatory authorities, after the use of RFID technology, the use management of the entire medical consumables is more refined and digital, and the distribution of consumables resources can be more reasonable.

After the general procurement, the hospital may not purchase new equipment within a few years, with the development of the medical industry in the future, perhaps a single hospital project for RFID equipment procurement demand will be more.