The hospital asset management commanded the largest share of global market in 2012 and is forecast to growing at a CAGR of more than 20% from 2012 to 2017, according to Research and Markets. RFID in healthcare dominates the market growing strongly at a CAGR of more than 17% from 2012 to 2017. RTLS (Real-Time Locating Systems) has recently attracted market leaders and investors and is expected to grow at the highest CAGR of 35.4% from 2012 to 2017. According to research equipment management commanded the largest share of the applications in 2012, while staff management is expected to grow at the highest CAGR of more than 37% from 2012 to 2017 due to focus on enhanced productivity and quality of care. The global RFID (Radio Frequency Identification) tags commanded the largest share of more than 58% of the global tags market in 2012. RFID, RTLS and ultrasound & infrared tags are the various product categories of global market. Though RFID was introduced in 1970s the technology adoption in the healthcare and pharmaceuticals market majorly took place in early 2000. RFID in healthcare vertical has dominated the share with more than 60% of the global market share and strongly growing in mature markets such as Europe, North America, Japan, the South Korea, and China between 2010 and 2020. Asset management in pharmaceutical is predominantly driven by rising incidence of drug counterfeit. According to the World Health Organization, in 2012, there were 170 drug counterfeit cases in the U.S.
