According to the latest research report, the demand of global Smart Card in Healthcare Market size & share was valued at approximately USD 1,013.3 Million in 2020 and is expected to reach a value of around 2,466.6 Million by 2028, at a compound annual growth rate (CAGR) of about 12.5% during the forecast period 2021 to 2028.
A smart card is a physical card that includes an embedded integrated circuit chip (ICC). Smart cards are used to store, manage, calculate, and access some personal valuable data or information. This chip provides security and privacy in the healthcare industry in terms of patient information, emergency medical information, and supports new processes for portable medical records. Smart cards work on an encrypted algorithm that supports data management. They are usually in several key applications such as health care services, banking and financial corporations, entertainment, telecommunications, government authorities, and transportation.
The rising usage of these smart cards to decrease the chances of medical errors and reduce healthcare costs is estimated to increase the adoption of smart cards in the healthcare sector. In the healthcare sector, smart cards have gained massive popularity in the last decade. These cards reduce health care fraud by safely storing information about a patient’s medical history and also offer security for convenient medical records, hence boosting the market growth.
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Reasons To Purchase This Report
Provision of a global smart card in healthcare market value data for each segment and sub-segment
Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
Analysis by geography with consumption of the product/service in the region
Competitive landscape which incorporates the extensive company profiles
The current as well as the future outlook of the industry with respect to recent developments
In-depth analysis of market perspectives through Porter’s five forces analysis
Dynamics scenario, along with growth opportunities in the years to come
Top Market Players:
American Express Company
Giesecke & Devrient Gmbh
Texas Instruments Incorporated
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Frequently Asked Questions About This Report
How big is the global smart card in healthcare market?
What is the global smart card in healthcare market growth?
Which segment accounted for the largest share?
Who are the key players?
What are the factors driving the market?
What segments are covered?
What are the opportunities for the existing players and for those who are planning to enter?
Smart Card Healthcare: Key Drivers:
Increasing government initiatives, growing digitalization in the healthcare industry are driving the global smart card in healthcare market growth. Factors such as rising demand for better patient data management systems, the growing inclination for electronic data management approaches are anticipated to drive the market. Moreover, increasing pressure on patient data safety is also one of the drivers of the market. In addition, key players are increasingly performing research and development activities to develop new products which are projected to boost market growth. Many organizations are taking initiatives to promote the adoption of smart health cards among people which is likely to boost the demand for smart cards in the healthcare sector.
The pandemic of COVID-19 across the globe has led to an increase in the adoption of contactless technology, which is anticipated to propel the global smart card in healthcare market. In 2020, the market witnessed a considerable decline due to the heartbreaking outbreak. Smart health card companies have experienced a decline in sales due to the outbreak.
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Smart Card Healthcare Market: Report Scope
Market Size 2020 Value
USD 1,013.3 Million
Market Outlook for 2028
USD 2,466.6 Million
Expected CAGR Growth
12.5% from 2021 – 2028
2021 – 2028
By Product, By Component, By Region
American Express Company, Atos SE, CardLogix Corporation, Giesecke & Devrient Gmbh, IDenticard Systems, Identiv, Inc., NXP Semiconductors, Texas Instruments Incorporated, Thales Group, and Verimatrix.
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Customized purchase options are available to meet your research needs.
Smart Card Healthcare Market: Key Segmentation
Insights by product, component, and region
On the basis of product, the contactless smart cards dominated the market with the highest revenue share of 28.0% in 2020. Factors supporting this segment include the growing adoption of contactless smart cards because they are more advantageous than contact-based smart cards, which is expected to push the segment’s growth. The hybrid smart cards segment is the second segment and is anticipated to be accountable for the fastest CAGR of 14.6% from 2021 to 2028. Based on components, the microcontroller-based smart cards segment registered the largest share of more than 55.0% in 2020. The segment is also projected to expand at the fastest CAGR from 2021 to 2028.
Europe held the largest revenue share and is expected to continue its dominance in the global smart card in healthcare due to growing initiatives by various government and non-government organizations for delivering good healthcare services across the region. The Asia Pacific is forecasted to witness substantial growth in the global market owing to rising medical tourism in the region. Also, rising technological advancements in healthcare and favorable government initiatives in emerging economies including China, India, and others contributed to the adoption of healthcare cards in the concerned region.
Browse the full “Smart Card in Healthcare Market Share, Size, Trends, Industry Analysis Report, By Product; By Component; By Region; Segment Forecast, 2021 – 2028” Report at https://www.polarismarketresearch.com/industry-analysis/smart-card-in-healthcare-market
The market is primarily segmented based on product, component, and region.
Smart Card Healthcare Market: By Product Outlook
Smart Card Healthcare Market: By Component Outlook
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