Market Assessment Study Analyzes the Electronic Wristbands Market in the Healthcare and Hospitality Industry

Jun 26, 2017

Infiniti’s latest market assessment study on wristbands in the healthcare and hospitality industry helps companies gain a better understanding of the growth prospects of wristbands in the target regions.

Wearable technology in the healthcare industry

The introduction of thermal printable, laser, and RFID technologies has resulted in an increase in the number of wearable technologies that are available in the healthcare industry. These new age devices find applications in the healthcare and hospitality sectors and assist in keeping the caregivers updated about the requirements of the patients. The barcoded wristbands help healthcare professionals provide superior patient services and the adoption of RFID technologies help with scanning and identifying patients and verifying their specimens, medications, and chart. The standardized colors to identify patients with specific conditions are red-allergy, yellow-fall risk, purple-do not resuscitate, pink-restricted extremity, and green-latex allergy. The recent market assessment study by Infiniti provides valuable and strategic insights into the market landscape of wristbands in terms of market challenges, segmentation, and the growth drivers. The study also helps companies understand the adoption patterns of single-use, disposable, and non-electronic wristbands in the healthcare and hospitality industry.

These wristbands are gaining popularity in the market as it increases patient safety prospect and ensures proper services by the hospital staff. These labels are primarily designed for point-of-care applications such as medication administration and lab labeling. The doctors and nurses use these brands for patient identification, reduces medication error rates, increases reliability, ease of administration, and accuracy. The use of these technologies increases the overall productivity of staff and enhances patient outcomes.

Telehealth and telemedicine

The advent of new and innovative technologies in healthcare is revolutionizing the industry. The increasing focus on patient satisfaction and feasibility is promoting the launch of telehealth and telemedicine in the industry. These are customer facing healthcare solutions that increase patient satisfaction and connectivity between the consumers and the professionals. The introduction of telehealth and telemedicine is enabling remote health monitoring and treatment cost-effectively.

Standardizing sampling techniques

The use wristbands are standardizing the blood and other specimen sampling techniques. The system provides protocols for maintaining patient sample identities throughout pre-analytical, analytical, and post-analytical processes and reduces the errors of mixing test results. Moreover, wristband uses automated systems such as barcoding, electronic order entry, radio frequency identification, and biometrics to decrease the probability of identifying errors and ensures faster diagnostics.

Solutions and recommendations

Infiniti’s market assessment study on wristbands in the healthcare industry helps companies implement a strategic development plan and evaluate potential growth opportunities in the market. Some of the solutions offered are listed below:

  • Help plan the market entry strategy and target the most relevant customer segments
  • Assess the adoption patterns of disposable wristbands in the healthcare and hospitality sectors
  • Provide a better understanding of the growth potential of the market and make informed business decisions
  • Offer a comprehensive breakdown of the current and forecasted market size for wristbands across multiple industry verticals
  • Deliver actionable insights on the market trends, competitive share analysis, and challenges in the market

Read our comprehensive case study on market assessment study on wristbands helps a leading technology provider

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