Press release
Smart Card in Healthcare Market Size, Share, Growth Factors, Outlook And Forecast 2033
Smart Card in Healthcare Market
The smart card in healthcare market size is expected to see rapid growth in the next few years. It will grow to $2.67 billion in 2028 at a compound annual growth rate (CAGR) of 13.1%. The growth in the forecast period can be attributed to streamlining workflow efficiency, reduction in medical errors, empowering patients, government initiatives and regulations, efficient healthcare service delivery. Major trends in the forecast period include enhanced data security measures, biometric integration, contactless smart cards, telemedicine and remote patient monitoring, health information exchange (hie).
Market Overview -
A smart card is a plastic card embedded with a computer chip that stores and transacts data between users. The data is associated with either value or information or both and is stored and processed within the card's chip. Smart health cards manage patient identity and give practitioners and pharmacists secure access to their medical records. Identifying the patient is the cornerstone of quality medical care and good health system management. The smart card in healthcare is used for various operational activities in healthcare industry.
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Rising Adoption Of Smart Cards In Healthcare Drives Market Growth
The increasing inclination of healthcare organizations and governments of various counties towards the adoption of smart cards is driving the growth of the smart card In healthcare market. The institutions and government bodies across the globe are implementing advanced smart technologies to increase transparency across business operations. Smart cards in healthcare provide security and confidentiality of patient data, maintain accurate patient identification at various facilities and geographies, enable secure access to emergency medical information, easy bill payment using the card for a financial transaction, and reduce health care fraud. For instance, in 2021, according to an article published by Medica Magazine, the European Commission took a decision for mandating the introduction of a card-based replacement to its E- 111 paper form for cross-border healthcare. The decision gave impetus to enhancing the usage of smart card technology in healthcare. Therefore, the increasing inclination of healthcare organizations and governments of various counties toward the adoption of smart cards is expected to boost the market during the forecast period.
Competitive Landscape -
Major companies operating in the smart card in healthcare market report are Atos SE, Giesecke+Devrient GmbH, Infineon Technologies AG, Thales Group, CardLogix Corporation, NXP Semiconductors N. V., Texas Instruments Incorporated, IDenticard Systems LLC, SCM Microsystems Inc., IDEMIA France SAS, American Express Company, Mastercard Incorporated, Visa Inc., HID Global Corporation, Ingenico Group SA, Verifone Systems Inc., Heartland Payment Systems Inc., First Data Corporation, Square Inc., PayPal Holdings Inc., Apple Inc., Samsung Electronics Co Ltd., Google LLC, Microsoft Corporation, International Business Machines Corporation (IBM), Oracle Corporation, Cisco Systems Inc., Intel Corporation, Hewlett Packard Enterprise Company
Innovative Smart Card Technology Driving Advancements In Healthcare
Development of advanced smart card technology is a key trend gaining popularity in the smart card in healthcare market. Leading players in the healthcare smart card market are investing in advanced technologies to expand their customer reach and maintain a competitive edge over their existing competitors in the market. For instance, in March 2020, CardLogix Corporation, released a new edition of BIOSID, which is a robust mobile identity solution featuring multiple biometric modalities (face, fingerprints, iris, signature) and high-security smart card technology.
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Key Segments -
The smart card in healthcare market covered in this report is segmented -
1) By Type: Contactless Smart Cards, Contact-based Smart Cards, Dual-interface Smart Cards, Hybrid Smart Cards
2) By Component: Memory Card-Based Smart Cards, Microcontroller-Based Smart Cards
3) By Application: Personal Identity, Patient History, Billing and Payment, Security
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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