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Healthcare/Pharmaceutical vertical accounted for $88.4 million in 2003 and is expected to grow to $856.1 million by the year 2012. Healthcare/Pharmaceutical vertical accounts for 8% of the total RFID market.

RFID may be used to document what was administered to a specific patient by a specific caregiver. The technology helps track patients and better manage patient information. This may be accomplished by tagging the caregiver, the patient, the equipment, and medication. RFID is used on patient wristbands to accurately identify patients and for access control and security. Examples include Alzheimer's patients, infants, parents of newborn, etc. Hospitals also can use RFID to track medicines, lab samples, and blood bags. label, at the same time preparing and sending an EDI Advance Ship Notice (ASN).

Source: MARKETSTRAT INC, © 2005

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