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Smart Card In Healthcare Market Size, 2028 | Industry Report

Smart Card In Healthcare Market Analysis Report By Product Type, By Component, By Region And Segment Forecasts From 2021 To 2028

Report ID: MN17620287  |  Published: October 2021  |  No of Pages: 163
Format: Electronic (PDF)  |  Industry: Healthcare IT  |  Publisher: Grand View Research

Synopsis

The global smart card in healthcare market was prized by USD 1.01 billion in 2020. It is estimated to witness 12.4% CAGR from 2021 to 2028.

Drivers

The rising global digitalization of the healthcare structure plus the utilization of smart cards, to store up information pertaining to the patients in addition to make sure greater levels of confidentiality are the factors, projected to increase the enlargement of the market for smart card in healthcare. Growing government inventiveness, meant for the execution of smart cards within the healthcare arrangement is, moreover, estimated to enhance the expansion of the market.

north-america-smart-card-in-healthcare-market

For example, in 2008, the government of India initiated the Rashtriya Swashthya Bima Yojana (RSBY). The system relies completely on a national digitally manufactured article, which is made detectable by the RSBY smart card. Roughly 120 million Indians are enrolled in the RSBY record, by means of these smart cards, till April 2020.

Smart cards help healthcare personnel in keeping the good organization of patient treatment as well as protect confidentiality. Moreover, these cards permit the secured storing of the information regarding the patient’s health check record. Furthermore, instantaneously access the data at the same time makes possible the necessary updating of the data, if necessary. This decreases the possibility of healthcare frauds, therefore advancing the development of the smart card in healthcare market.

Effect of Covid-19

The Covid-19 pandemic influenced the healthcare activities and the ripple out comes were observed in the healthcare IT business also. The companies working in the smart card market accounted a fall off or flat in their sales of smart cards.

COVID-19 impact: Around 7.0% increase in demand owing to a sudden rise in need for contactless cards

Pandemic Impact

Post COVID Outlook

The earlier projections depicting approximately 7.6% YoY growth were countered by the pandemic resulting in the difference of ~0.11 USD million revenue in the earlier and recent estimations.

The market is expected to recover beyond 2020, with a CAGR of 7.68% from 2020 to 2021 and 8.85% from 2021 to 2022.

Thales Group experienced a decline of 7.67% in its total revenue from 2019 to 2020.

Market players are expected to experience high demand for their contactless smart cards.


Market players also experienced disruptions in their supply chain.

 

Governments of various countries are also expected to adopt smart cards in their healthcare systems for efficient healthcare data management.

For example, the parent group of IDenticard Systems, Brady Corporation, stated a drop of 9.1% in its IDS section. This contains smart cards, designed for healthcare function. Likewise, Thales Group described a 2.0% drop in its expansion speed, during 2019 to 2020. Recurrent lockdowns along with insufficiency in supply chain were mainly accountable for the delayed acceptance.

Product Type Insight

In 2020, contactless smart cards section detained the major, more than 28.0% share of the smart card in healthcare market. The increasing acceptances of contactless smart cards, due to their advantages above contact-based smart cards plus no necessity of a reader are the factors, likely to increase the expansion of the section. They operate by means of radio frequencies or NFC technology that creates wireless contact amid the smart card and where it is wished-for use.

The hybrid smart cards section is projected to develop by the highest 14.6% CAGR, during the forecast period. These smart cards are made up of above one card technology. For example, they may have an implanted microprocessor smart card together with a contactless RFID proximity chip. In contrast, dual interface smart cards make use of a sole chip technology, to interconnect, by means of together contactless as well as contact-based interfaces.

Component Insight

In 2020, the microcontroller-based smart cards section detained the major, above 55.0% share of the smart card in healthcare market. They are transportable, in addition to possess huge memory. This is anticipated to increase the augmentation of this section, throughout the forecast period. Owing to its rising acceptance in the healthcare sector, the section is likely to increase by the highest CAGR, during the forecast period.

global-smart-card-in-healthcare-market

The memory-card-based smart cards section detained the subsequent major share, in 2020, because these cards are utilized merely for temporal functions. Their memory capability is pretty short and is frequently discarded, once used. Accumulated information cannot be edited or changed in these categories of cards.

Regional Insight

Europe detained the major, more than 30.0% revenue share of the market for smart card in healthcare, in 2020. Increasing plans by a variety of non-government in addition to government associations, intended for guarantee the superior healthcare amenities are expected to boost the demand for the product, within this region.

The European Health Insurance Cards are distributed, without charge, to the inhabitants of 32 nations. A numerous European nations contain their individual national healthcare ID card. These factors are estimated to increase the development of the market.

The Asia Pacific market is expected to record the highest 13.2% expansion speed, during the forecast period, due to the factors like positive programs by the government, along with technically sophisticated healthcare infrastructure. Also, the local market is projected to develop into the major investor, by 2028.

Companies

The companies are spending on various tactical actions such as acquisitions, product presentations, joint accords, and geological growth, to maintain them in the market for smart card in healthcare.

Some of the companies for smart card in healthcare market are:

    • Card Logix Corporation
    • Texas Instruments Incorporated
    • Infineon Technologies AB
    • Atos SE
    • IDenticard Systems
    • Thales Group
    • NXP Semiconductors
    • Giesecke+Devrient GmbH

Report Scope

Report Attribute

Details

Market size value in 2021

USD 1.09 billion

Revenue forecast in 2028

USD 2.46 billion

Growth Rate

CAGR of 12.4% from 2021to 2028

Base year for estimation

2020

Actual estimates/Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion & CAGR from 2021 to 2028

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

Segments covered

Product type, component, region

Regional Scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country Scope

U.S.; Canada; Germany; U.K.; France; Italy; Spain; Japan; China; India; Brazil; Mexico; Argentina; South Africa; Saudi Arabia

Key companies profiled

Atos SE; Giesecke+Devrient GmbH; Infineon Technologies AB; NXP Semiconductors; Texas Instruments Incorporated; Thales Group; CardLogix Corporation; IDenticard Systems

Customization scope

Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs.

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2028. For the purpose of this study, Million Insights has segmented the global smart card in healthcare market report on the basis of product type, component, and region:

• Product Type Outlook (Revenue, USD Million, 2016 - 2028)
    • Hybrid Smart Cards
    • Contactless Smart Cards
    • Contact-based Smart Cards
    • Dual-interface Smart Cards

• Component Outlook (Revenue, USD Million, 2016 - 2028)
    • Memory-card Based Smart Cards
    • Microcontroller Based Smart Cards

• Regional Outlook (Revenue, USD Million, 2016 - 2028)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • France
        • Italy
        • Spain
    • Asia Pacific
        • Japan
        • India
        • China
    • Latin America
        • Brazil
        • Mexico
        • Argentina
    • Middle East & Africa
        • South Africa
        • Saudi Arabia

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