What is the market potential of RFID smart medical cabinets?

When we explore the potential of the RFID industry in the SPD (Supply, Processing, and Distribution) market, it is not difficult to find that this is a field full of opportunities and challenges. Especially in the medical SPD industry, the application of RFID technology has gradually changed from optional to standard. This change not only improves the efficiency and accuracy of medical material management, but also brings huge market potential to the RFID industry.

First, let's take a look at the core position of RFID smart medical cabinets in the SPD industry. As an important part of the medical SPD system, the RFID smart medical cabinet realizes real-time tracking, management and monitoring of high-value consumables by integrating RFID technology. This intelligent management method greatly improves the efficiency of medical supplies, reduces waste, and saves costs for Hospitals. Therefore, with the popularization of the medical SPD model, the demand for RFID smart medical cabinets is also increasing.

According to our survey data, the SPD model is currently mainly adopted by tertiary hospitals. Due to their large scale and high medical level, these hospitals have a more urgent need to manage high-value consumables. A tertiary hospital in a prefecture-level city usually needs about 10 RFID smart cabinets to meet daily needs, while a large hospital in a provincial capital may need 20-30. Considering the number of tertiary hospitals across the country, we can preliminarily estimate the market demand for RFID smart cabinets. Based on the most conservative number of tertiary hospitals, the industry demand is already more than 20,000 RFID smart cabinets. If calculated based on the number of tertiary hospitals, this number may increase to 40,000-50,000 units.

Of course, this is just a preliminary estimate. With the continuous development of the medical industry and the further popularization of the SPD model, the demand for RFID smart cabinets in hospitals is expected to increase further in the future. Especially in some large comprehensive hospitals, due to the wide variety and large number of medical supplies, the demand for RFID smart cabinets will be more urgent.

In addition to RFID smart cabinets, RFID tags are also widely used in the medical SPD industry. As the "identity card" of high-value consumables, RFID tags are embedded in consumables to achieve full tracking and management of consumables. This management method not only improves the management efficiency of medical supplies, but also ensures medical safety. According to our understanding, a tertiary hospital consumes about 1,000 high-value consumables a day, which means that 1,000 RFID tags are needed every day. At this rate of consumption, a hospital's annual demand for RFID tags is about 300,000 to 500,000.

Although the demand for RFID tags in a single hospital is not large, when we consider the number of tertiary hospitals nationwide, this number becomes quite considerable. According to data from the National Bureau of Statistics, there will be 3,523 tertiary hospitals in the country in 2023, including 1,716 tertiary hospitals. If all tertiary hospitals popularize RFID tag management, the annual consumption of medical high-value consumables RFID tags in the country can reach 500 million to 1 billion. This number is undoubtedly a huge market for the RFID industry.

Of course, while seeing this huge market, we cannot ignore the challenges. For example, the cost, compatibility, and data security issues of RFID technology all require us to seriously consider and solve. In addition, with the continuous development and transformation of the medical industry, new management concepts and technologies continue to emerge, and the RFID industry also needs to continue to innovate and progress to meet market demand.

In summary, the RFID industry has huge market potential in the medical SPD market. With the popularization of the medical SPD model and the continuous innovation and progress of RFID technology, we believe that the RFID industry will usher in a broader development prospect.