Healthcare Smart Card Reader Market to hit USD 6 billion by 2032, says Global Market Insights Inc.
Healthcare smart card reader industry is anticipated to register 18% CAGR between 2023 and 2032 due to increasing digitization in healthcare sector and rise in adoption of smart cards for secure patient data and medical records.
Selbyville, Delaware, April 26, 2023 (GLOBE NEWSWIRE) —
Healthcare smart card reader market value is expected to exceed USD 6 billion by 2032, according to a new research report by Global Market Insights Inc.
Growing digitalization in healthcare sector is a key driver behind market growth. Many world governments agencies are promoting digitalization in healthcare to bring down healthcare costs while integrating advanced technologies into the mix.
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Advanced security features to foster contact-based card readers product segment gains
Healthcare SCR industry size from contact-based card readers segment is anticipated to record a valuation of over USD 2.2 billion by 2032. These cards are extensively used in healthcare sector to provide secure access to patient data and other confidential information. They also boast of high security and encryption for the protection of patient data to minimize the risks of unauthorized access and data breaches. They even possess a built-in tamper-resistance feature, which makes them a secure option for use in healthcare applications.
Stronger processing capacities to fuel micro-controller-based smart cards segment expansion
Healthcare smart card reader market from size micro-controller-based smart cards segment held a valuation of more than USD 594 million back in 2022. These cards are commonly used to store complex medical records and patient data and provide advanced security features to healthcare facilities. They have high memory capacities and strong processing capabilities that allow them to store and process large chunks of healthcare information. They also have the unique ability to perform on-card functions such as mutual authentication.
Browse key industry insights spread across 210 pages with 331 market data tables & 16 figures & charts from the report, “Healthcare Smart Card Reader Market Size By Product (Contact-based Card, Contactless Card, Dual Interface Cards), By Card (Memory-based Smart Cards, Micro-controller-based Smart Cards), By Application (Identity & Information Management, Security & Access Management), By End-use (Hospitals & Clinics), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
Higher patient footfall to spur hospitals and clinics end-use segment progression
Hospitals and clinics segment accounted for over 69% revenue share of the healthcare smart card reader market in 2022. Going ahead, a majority of the progress is expected to be driven by the higher patient footfall at hospitals and clinics. Patients prefer these facilities as they offer better access to skilled healthcare professionals and advanced devices.
Rising government spending on digital health to drive Europe healthcare SCR industry
Europe healthcare smart card reader market is poised to grow at over 17.5% CAGR through 2023 – 2032, driven by the growing digital health investments from regional governments. Regional growth can also be credited to surging prevalence of chronic ailments such as diabetes, heart diseases, and others which has elevated the demand for novel digital devices such as smart card readers for maintaining information such as patient data, insurable coverage, and others.
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Mergers and acquisitions to define competitive landscape for healthcare smart card reader market
The list of leading healthcare smart card reader industry players includes names such as FEITIAN Technologies Co., Ltd., Advanced Card Systems Ltd., IDENTOS Inc., Thales Group, Identiv, Inc., and SecuGen Corporation, among others.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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