Alexandria, VA, Feb. 07, 2023 (GLOBE NEWSWIRE) -- According to Zion Market Research has published a new research report titled “Smart Card In Healthcare Market - By Component (Memory-Card Based And Microcontroller Based), By Product Type (Hybrid, Contactless, Dual-Interface, And Contact-Based), And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2020 - 2028” in its research database.
“According to the latest research study, the demand of global Smart Card in Healthcare Market size & share in terms of revenue was valued at USD 1.02 billion in 2019 and it is expected to surpass around USD 14.3 billion mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 45.82% during the forecast period 2020 to 2028.”
What is Smart Card in Healthcare? How big is the Smart Card in Healthcare Industry?
The Smart Card in Healthcare market refers to the use of smart cards, also known as integrated circuit cards (ICC), in the healthcare industry for various applications such as medical billing and payment, drug verification, patient identification, and access control. The increasing demand for secure and efficient healthcare management systems and the growing use of electronic medical records (EMRs) are some of the factors driving the growth of the market.
Smart cards in healthcare offer several benefits such as improved patient identification, enhanced security and privacy of patient data, and efficient medical billing and payment processes. However, factors such as high implementation and maintenance costs and security and privacy concerns may pose a challenge to the growth of the market.
Smart Card in Healthcare Report Coverage & Overview:
The outlook for the Smart Card in Healthcare market is expected to be positive in the coming years. The increasing demand for secure and efficient healthcare management systems, the need for improved patient identification and data management, and the growing use of electronic medical records (EMRs) are some of the factors driving the growth of the market. Additionally, the increasing adoption of smart cards in the healthcare industry for applications such as medical billing and payment, drug verification, and access control, is also expected to fuel market growth.
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Global Smart Card in Healthcare Market: Growth Dynamics
Surge in cases of frauds and theft will steer expansion of smart card in healthcare market in the upcoming years. In addition to this, supportive government schemes in emerging economies and developed countries in terms of adoption of smart cards will embellish market size in years to come. Apparently, high government focus on enhancing affordability, accessibility, and availability of effective healthcare services for patients through smart card usage will steer expansion of smart card in healthcare industry over the forecast timespan.
In addition to this, smart cards make use of encrypted algorithms for effectively handing data and are safe to operate as compared to magnetic strip cards. Apart from this, these cards are extensively utilized in handling confidential information pertaining to identity, personal health data, and other finances. All these aforementioned aspects will spur size of smart card in healthcare industry over the upcoming years.
Furthermore, use of smart cards in healthcare, banking & financial, telecom, entertainment, transport, and government sectors will spike growth of smart card in healthcare industry in the years ahead. Nonetheless, lack of awareness & information about smart cards in remote areas can inhibit expansion of smart card in healthcare industry over the upcoming years.
Additionally, the increasing use of smart cards for medical billing and payment, drug verification, and access control, is expected to drive market growth. However, factors such as high implementation and maintenance costs and security and privacy concerns may pose a challenge to the growth of the market. The growth rate of the Smart Card in Healthcare market can be best predicted by consulting market research reports and industry experts.
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Report Scope
| Report Attribute | Details |
| Market Size in 2019 | USD 1.02 billion |
| Projected Market Size in 2028 | USD 14.3 billion |
| CAGR Growth Rate | 45.82% CAGR |
| Base Year | 2019 |
| Forecast Years | 2020-2028 |
| Key Market Players | Gemalto N.V., Giesecke & Devrient (G&D), Oberthur Technologies, Morpho (Safran), Identiv, Inc., NXP Semiconductors, ASUSTek Computer Inc., HID Global Corporation, Atos SE, Samsung Electronics Co., Ltd., INSIDE Secure SA, American Express Company, CardLogix Corporation GmbH, VeriFone Holdings Inc, Infineon Technologies AG, SCM Microsystems. |
| Key Segment | By Product Type, By Component, By Application, and By Regions |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
Smart Card in Healthcare Market: Segmentation Analysis
Product Type: The Smart Card in Healthcare market can be segmented into contact smart cards and contactless smart cards based on the type of interface used to communicate with the card reader.
Application: The Smart Card in Healthcare market can be segmented into medical billing and payment, drug verification, patient identification, and access control based on the various applications of smart cards in the healthcare industry.
The global Smart Card in Healthcare market is segmented as follows:
By Product Type
- Hybrid
- Contactless
- Dual-Interface
- Contact-Based
By Component
- Memory-Card Based
- Microcontroller Based
By Application
- Medical billing and payment
- Drug verification
- Patient identification
- Access control based applications
Browse the full “Smart Card In Healthcare Market - By Component (Memory-Card Based And Microcontroller Based), By Product Type (Hybrid, Contactless, Dual-Interface, And Contact-Based), And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2020 - 2028” Report at https://www.zionmarketresearch.com/report/smart-card-in-healthcare-market
Competitive Landscape
Some of the main competitors dominating the global Smart Card in Healthcare market include -
- Gemalto N.V.
- Giesecke & Devrient (G&D)
- Oberthur Technologies
- Morpho (Safran)
- Identiv, Inc.
- NXP Semiconductors
- ASUSTek Computer Inc.
- HID Global Corporation
- Atos SE
- Samsung Electronics Co., Ltd.
- INSIDE Secure SA
- American Express Company
- CardLogix Corporation GmbH
- VeriFone Holdings Inc
- Infineon Technologies AG
- SCM Microsystems
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Smart Card in Healthcare market is likely to expand at a CAGR of around 45.82% during the forecast period (2020-2028).
- In terms of revenue, the Smart Card in Healthcare market size was valued at around US$ 1.02 billion in 2019 and is projected to reach US$ 14.3 billion by 2028.
- On the basis of product type, the contactless smart cards were predicted to show maximum market share in the year 2019.
- Based on application segmentation, the medical billing and payment was the leading revenue-generating category in 2019.
- On the basis of geography, it is anticipated that Europe would hold the position with the biggest revenue share in smart cards in healthcare market.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Smart Card in Healthcare industry?
- What are the main driving factors propelling the Smart Card in Healthcare Market forward?
- What are the leading companies in the Smart Card in Healthcare Industry?
- What segments does the Smart Card in Healthcare Market cover?
- How can I receive a free copy of the Smart Card in Healthcare Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2020−2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Product Type, By Component, By Application, and By Regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
The Smart Card in Healthcare market can vary significantly across different regions, depending on factors such as the healthcare industry growth, government policies, and the adoption of smart card technologies. Some of the key regions that are expected to see substantial growth in the Smart Card in Healthcare market include:
- North America: The North American region is expected to dominate the market due to the high adoption of advanced healthcare technologies and the presence of well-established healthcare infrastructure.
- Europe: The European region is expected to see significant growth in the Smart Card in Healthcare market due to the implementation of favorable government policies and the increasing demand for secure and efficient healthcare management systems.
- Asia-Pacific: The Asia-Pacific region is expected to see substantial growth in the Smart Card in Healthcare market due to the rapidly growing healthcare industry and the increasing investment in healthcare infrastructure.
- Rest of the World: The growth of the Smart Card in Healthcare market in other regions such as Latin America and the Middle East & Africa may vary depending on several factors such as the development of the healthcare industry and the implementation of government policies.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Recent Developments
There have been several recent developments by key players in the Smart Card in Healthcare market aimed at improving the efficiency and security of healthcare management systems. Some of these developments include:
Gemalto N.V.: Gemalto N.V. has recently launched a range of smart card solutions for the healthcare industry, including secure medical billing and payment solutions and patient identification systems.
Giesecke & Devrient (G&D): G&D has recently introduced a range of smart card solutions for the healthcare industry, including secure medical billing and payment systems and patient identification solutions.
Oberthur Technologies: Oberthur Technologies has recently launched a range of smart card solutions for the healthcare industry, including secure medical billing and payment systems and patient identification solutions.
Morpho (Safran): Morpho (Safran) has recently introduced a range of smart card solutions for the healthcare industry, including secure medical billing and payment systems and patient identification solutions.
Identiv, Inc.: Identiv, Inc. has recently launched a range of smart card solutions for the healthcare industry, including secure medical billing and payment systems and patient identification solutions.
These recent developments by key players in the Smart Card in Healthcare market highlight the growing demand for secure and efficient healthcare management systems and the increasing investment in smart card technologies. Market research reports and industry experts can provide a more comprehensive analysis of the recent developments in the Smart Card in Healthcare market.
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FREQUENTLY ASKED QUESTIONS
- Which key factors will influence the Smart Card in Healthcare Market growth over 2020-2026?
- What will be the value of the Smart Card in Healthcare Market during 2020-2026?
- Which region will contribute notably towards the global Smart Card in Healthcare Market value?
- Which are the major players leveraging the Smart Card in Healthcare Market growth?
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