Health Care Barcode Technology Market - The Growing Focus On Patient Safety, Technological Advancements

Barcode can be defined as the graphical representation formed by a two-dimensional pattern of black and white shapes used for the product identification. Barcodes can be read by optical devices. They enable the automation of product information. The barcode technology is being used increasingly in the health care sector. Barcodes are used for representation of the data in hospitals or hospital settings, which readable by optical-readable machines. Health care barcode solutions enable streamlining of the patient admittance process, and tracking of medications, among others.

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The capability of barcodes to reduce medical errors and enhance patient safety is anticipated to drive the market for health care barcode technology in the near future. In the leadership survey conducted by the Health care Information & Management Systems Society (HIMSS), the adoption of barcode technology was found to be placed on high priority in health care settings. Barcode solutions form a critical part of the workflow management in hospitals and hospital settings. This factor is leading to the increase in demand for these solutions.

In addition, the growing focus on patient safety, technological advancements, changing government legislations about adoption of barcode technology, and focus on reducing the health care expenditure are anticipated to promote growth of the health care barcode technology market during the forecast period. Furthermore, the ease of maintaining patient records by scanning barcodes through a smartphone would fuel the market in the next few years. However, high cost of implementation, and lack of trained professionals are factors estimated to hamper the market during the forecast period.

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The global health care barcode technology market can be segmented on the basis of product type, application, end-user, and region. Based on product type, the market can be segmented into barcode scanners, barcode printers, and barcode verifiers. The barcode printers segment can be further divided into thermal printers, laser printers, ink-jet printers, and dot matrix printers. The barcode scanners segment can be further classified into charge-coupled devices, wand scanners, image scanners, and laser scanners. The barcode scanners segment dominated the market in 2016 owing to growing adoption of these scanners in the health care value chain.

Based on application, the market can be segmented into clinical and non-clinical applications. The clinical applications segment can be sub-divided into drug identification, blood infusion safety, specimen collection, and others. The non-clinical applications segment can be sub-segmented into receiving replenishment ordering, supply chain management, asset tracking solutions, inventory control solutions, and others. Among applications, the non-clinical segment was dominant in 2016. Growth of the segment was attributable to rising usage of the health care barcode technology in inventory control solutions and supply chain management.

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Geographically, global health care barcode technology market can be segmented into five regions viz. North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. In terms of revenue, North America dominated the global market in 2016 and is anticipated to remain dominant during the forecast period. The major share held by the region is attributable to the risen adoption of barcode technology in health care settings and well-established health care infrastructure. In terms of revenue, Europe is anticipated to follow North America during the forecast period. The market in Asia Pacific is anticipated to register a significantly high CAGR from 2017 to 2025, owing to factors such as increasing patient pool, surging demand for patient safety, focus by governments on improvements in the health care infrastructure, and increasing demand for automation in health care settings to overcome the dearth of health care professionals in the region.

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