The global smart card in healthcare market size is expected to reach USD 2,466.6 billion by 2028 according to a new study by Polaris Market Research. The report “Smart Card in Healthcare Market Share, Size, Trends, Industry Analysis Report, By Product; By Component; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
With the advent of digitalization in the healthcare industry, there has been an increase in technological advancements such as intelligent cards in the healthcare sector. The increasing need for patient information security coupled with the need for reducing frauds in healthcare infrastructure is escalating the demand for healthcare intelligent products.
Moreover, the sudden outbreak of COVID-19 has emerged the growth for contactless intelligent segment in the medical sector, which did not need any reader to communicate or access. Additionally, the need for privacy protection and real-time access to a patient’s medical history has propelled the growth of memory-card-based intelligence.
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Government and non-profit organizations are engaged heavily to increase the adoption of health intelligent products. For instance, in June 2021, the Balearic Government announced an investment of around USD 1.4 million (1,166,400 euros) in intelligent product and a magnetic strip for health organizations.
Thus the initiative will lead to the adoption of intelligent products in the European region. Similarly, in July 2021, the West Bengal Government launched the Swasthya Sathi Scheme. An intelligent product is provided to each family to ensure health services and efficient treatment in the country.
Industry participants include American Express Company, CardLogix Corporation, Atos SE, Giesecke & Devrient Gmbh, Identiv, Inc., NXP Semiconductors, Thales Group, Texas Instruments Incorporated, and Verimatrix.
The market vendors are indulged in developing low-cost intelligent products that can be accessible to all generally opt options that are by all ranks of communities within the geographic footprint. The manufacturers heavily rely on raw material suppliers, as quality and dependency of raw material (plastic, chip, sensor, and others) ensure long-term sustainability in the market.
Companies’ margins are influenced mainly by fluctuations in raw material cost. Also, the availability of many suppliers in the market results in the ease of switching to a new supplier for the manufacturers.
Polaris Market Research has segmented the smart card in healthcare market report on the basis of product, component, and region:
Smart Card in Healthcare, Product Outlook (Revenue – USD Million, 2016 – 2028)
- Hybrid Smart
- Contactless Smart
- Contact-based Smart
- Dual-interface Smart
Smart Card in Healthcare, Component Outlook (Revenue – USD Million, 2016 – 2028)
- Memory-card Based
- Microcontroller Based
Smart Card in Healthcare, Regional Outlook (Revenue – USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa