Dublin, Dec. 16, 2021 (GLOBE NEWSWIRE) -- The "Healthcare Automatic Identification and Data Capture Market by Product, Technology, Application, and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global healthcare AIDC market is expected to reach $25.91 billion by 2028, growing at a CAGR of 22.5% during the forecast period of 2021 to 2028. In terms of volume, the global healthcare AIDC market is expected to reach 269,949,445.5 units by 2028, growing at a CAGR of 24.8%.
The market is primarily driven by factors, such as technological advancements along with widening applications of AIDC technologies in healthcare applications such as asset management, patient management, and inventory management.
Additionally, the growing acceptance of advanced technologies, such as RFID, barcode, and biometrics and increasing adoption in the healthcare supply chain, hospitals, and patient management, also encourage the demand for AIDC devices. However, although the adoption of AIDC-enabled devices is on the rise, there is still a certain level of reluctance towards adopting new technologies.
This, coupled with the high cost of some AIDC devices, may restrain the growth of the automatic identification and data capture market in the healthcare industry.
Based on technology, the healthcare AIDC market is broadly classified into barcodes, RFID, biometrics, smart cards, magnetic strips, and OCR. In 2021, the RFID segment is estimated to account for the largest share of the overall healthcare AIDC market.
The large share of the segment is attributed to the growing significance of access control, increase in demand for AIDC systems to reduce personalized data entry errors, consistently growing identity frauds, and increasing demand for contactless data access post-COVID-19. However, the biometrics segment is expected to register the fastest CAGR during the forecast period due to growing demands for biometric devices in the industry.
In 2021, the scanners & readers segment is estimated to command the largest share in the global healthcare AIDC market. The large share of the segment is attributed to the increase in demand for AIDC systems for tracking patients, managing supply chain, inventory, and asset management, and reducing personalized data entry errors.
Additionally, scanners & readers are also projected to grow with the fastest growth rate over the forecast period due to the increasing demand for safe specimen management during the COVID-19 pandemic. In terms of volume, the consumables segment is estimated to account for the largest share in 2021. The consumables segment is also expected to grow with the highest growth rate over the forecast period.
In 2021, the patient & prescription management segment is estimated to command the largest share of the global healthcare AIDC market due to advancements in AIDC technologies and the growing adoption of AIDC technologies for increased patient safety during COVID-19.
However, the medication management segment is projected to register the fastest CAGR during the forecast period due to the effective provision of a prescription, increased applications of AIDC for initial evaluation of the patient's need for psychotropic medications, and ongoing medical monitoring related to the patient's use of the psychotropic medication by a qualified physician/prescriber.
Key questions answered in the report-
- Which are the high growth market segments in terms of product type, application, technology, and countries?
- What is the historical market for healthcare AIDC across the globe?
- What are the market forecasts and estimates from the period of 2021-2028?
- What are the major drivers, restraints, and opportunities in the global healthcare AIDC market?
- Who are the major players in the global healthcare AIDC market, and what share do they hold?
- What are the recent developments in the global healthcare AIDC market?
- What are the different strategies adopted by the major players in the global healthcare AIDC market?
- What are the geographical trends and high growth countries?
- How is the competitive landscape?
- Who are the local emerging players in the global healthcare AIDC market and how do they compete with the other players?
Market Dynamics
Drivers
- Growing Significance of Electronic Health Records (EHRs)
- Fast-Paced Digital Transformation in the Healthcare Sector
Opportunities
- Diversified Inclusion of AIDC in the Healthcare Sector
Challenges
- Vulnerability to Cyber Threats
- Lack of Acceptance in Developing Countries
Trends
- Use of RFID for Covid-19 Vaccine Management
Company Profiles (Business Overview, Financial Overview, Product Portfolio, Strategic Developments)
- Zebra Technologies Corporation
- Honeywell International Inc.
- Avery Dennison Corporation
- Newland EMEA
- Datalogic S.P.A.
- NEC Corporation
- Alien Technologies Corporation
- Seagull Scientific Inc.
- SATO Worldwide
For more information about this report visit https://www.researchandmarkets.com/r/do4mm4
