The global Smart Card In Healthcare market size is expected to be worth around US$ 10.4 billion by 2030, according to a new report by Vision Research Reports.
The global Smart Card In Healthcare market size was valued at US$ 2.02 billion in 2020 and is anticipated to grow at a CAGR of 21.4% during forecast period 2021 to 2030.
Growth Factors
Growing initiatives by market players and governments of various countries for the implementation of in the healthcare system are fueling market growth. Furthermore, compliance with smart cards with HIPAA as well as ARRA is expected to boost the market growth.
Get Sample Copy of This Report@ https://www.visionresearchreports.com/report/sample/38338
Similar to other markets, the market for smart card in healthcare has also been significantly affected by COVID-19. Some of the major impacts of COVID-19 on the market include supply chain disruptions, a decline in sales, and low demand. Companies such as Thales Group reported flat growth in their smart cards product segment. Therefore, the overall impact of COVID-19 on the market was neutral.
The flexibility provided by smart cards to securely add information to a patient healthcare card after its issuance is expected to boost the market growth. This factor delivers various benefits for healthcare applications. Patient prescriptions can be written to the card, providing up-to-date information when a patient is receiving medical care from multiple providers or in an emergency; patient record identification or multiple patient identification numbers can be saved to the smart card, enabling record exchange as well as helping with care coordination amongst multiple healthcare providers; and patient healthcare information can be saved to and updated on the card by certified healthcare providers, with updated information available for both the healthcare providers and patient to access.
Report Highlights
Contactless smart cards held the largest share of over 30.0% in 2020. The rising adoption of contactless smart cards because of their advantages over contact-based smart cards and no requirement of a reader is expected to boost the segment growth. They work using NFC technology or radio frequencies, which establishes wireless communication between the smart card and wherever it is intended to use.
The hybrid smart cards segment is expected to expand at the fastest CAGR of 20.6% from 2021 to 2030. These smart cards consist of more than one card technology. For instance, they might contain an embedded microprocessor smart card along with a contactless RFID proximity chip. On the other hand, dual interface smart cards use a single chip technology to communicate via both contact-based and contactless interfaces.
The microcontroller-based smart cards segment held the largest share of more than 65.0% in 2020. They are portable and have vast memory, which is expected to boost the growth of this segment during the forecast period. The segment is also expected to expand at the fastest CAGR from 2021 to 2030 due to its increasing adoption in the healthcare segment.
In 2020, Europe held the largest revenue share of over 30.0%. Rising initiatives by various government as well as non-government organizations for ensuring good healthcare facilities are anticipated to propel the product demand in this region. The European Health Insurance Cards are issued for free to residents of 32 countries. Many of the European countries have their own national healthcare ID card. Such factors are expected to boost the market growth.
| Report Coverage | Details |
| Market Size | US$ 10.4 billion by 2030 |
| Growth Rate | CAGR of 21.4% From 2021 to 2030 |
| Base year | 2020 |
| Historic Data | 2017 to 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Product type, Component |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | Atos SE; Giesecke+Devrient GmbH; Infineon Technologies AB; NXP Semiconductors; Texas Instruments Incorporated; Thales Group; CardLogix Corporation; IDenticard Systems |
Key Players
Market Segmentation
Buy This Premium Research Report, click here@ https://www.visionresearchreports.com/report/cart/38338 or call: +1 9197 992 333
Vision Research Report, Recently Announced New Report on "Smart Lock market - Global Industry Analysis,…
Vision Research Report, Recently Announced New Report on "2D barcode reader market - Global Industry…
Vision Research Report, Recently Announced New Report on "commercial refrigeration equipment market - Global Industry…
Vision Research Report, Recently Announced New Report on "Restaurant Point-of-Sale Terminal market - Global Industry…
Vision Research Report, Recently Announced New Report on "vacuum cleaner market- Global Industry Analysis, Market…
Vision Research Report, Recently Announced New Report on "household refrigerators and freezers market - Global…