Emphasis on Product Type (Hybrid Smart Cards, Contactless Smart Cards, Contact-based Smart Cards, and Dual-interface Smart Cards); Component (Memory-card Based Smart Cards and Microcontroller Based Smart Cards); Region/Country
The Smart Card in Healthcare Market is valued at around US$ 1.05 billion in 2020 and is expected to register a CAGR growth of around 12% during the forecast period (2021-2027). A smart card is a minute portable computer, generally the size of a credit card, having no display or keyboard. It comprises the microprocessor, some memory, and some apps. In the form of SIM cards and credit cards, smart cards are the most common form of IT processing power all over the world. There is a memory chip embedded in the smart card with the processing power to serve many different applications when coupled with a smart card reader. The rise in Covid-19 has boosted contactless payments, positively impacting the smart card in the healthcare market. In recent times, the contactless interface has become the foremost choice for governments and financial services which is boosting the demand for the Smart Card in the Healthcare market. In addition, the rising digitalization of the healthcare systems all over the world and the utilization of smart cards for the storage of patient data which ensures high levels of security and privacy are anticipated to boost the market growth. The increasing misuse of medical benefits and other frauds in the healthcare industry has grown widespread globally in the past few years. Many national governments are now turning towards smart cards for obtaining medical records of people. Healthcare Insurance Companies mainly issue these smart health cards for the better regulation of claims and other medical practices. Smart Health Cards provide various advantages for medical service providers as well as patients including Faster medical admission procedure, Reduction in medical frauds (misuse) and identity theft, Decrease in document work for maintaining medical records, Reduction in the overall medical record maintenance cost.
Total Digital Health Industry Funding Worldwide From 2010 To 2020 (In Billion U.S. Dollars)
Insights Presented in the Report
“Amongst Product Type, Contactless Smart Cards segment holds the major share”
Based on Product Type, the market is fragmented into Hybrid Smart Cards, Contactless Smart Cards, Contact-based Smart Cards, and Dual-interface Smart Cards. The Contactless Smart Cards segment dominated the market in 2020 and is expected to grow at lucrative during the forecasted period owing to the increasing adoption of contactless smart cards because of their advantages over contact-based smart cards and no requirement of a reader. They run using radio frequencies or Near Field Communication (NFC) technology which establishes wireless communication between the smart card and wherever it is intended to use. Contactless smart cards are comprised of an antenna coil and a microprocessor chip that enables them to work faster than contact cards. Also, tamper-proof data storage is another driver boosting segment growth. Moreover, the advancements in product technology and increasing awareness among the common people regarding the benefits of smart cards are also anticipated to increase the segment demand.
“Amongst Component, Microcontroller Based Smart Cards segment holds the major share”
Based on the Component, the market is bifurcated into Memory-card Based Smart Cards and Microcontroller Based Smart Cards. The microcontroller-based smart cards segment dominated the market in 2020 and is expected to grow at lucrative during the forecasted period. The microcontroller-based smart cards are portable and have vast memory, which is anticipated to boost the growth of this segment during the forecast period. Moreover, the rising adoption of microcontroller-based smart cards in healthcare is also deriving market growth.
“Europe signifies one of the largest markets for Smart Card in Healthcare market”
For a better understanding of the market adoption of Smart Card in Healthcare, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Europe will dominate the Smart Card in the Healthcare market on account of the increasing initiatives by several governments as well as non-government organizations for ensuring good healthcare facilities. The European Health Insurance Cards are issued for free to residents of 32 countries. Many of the European countries have their own national healthcare ID card. Such factors are anticipated to boost market growth. Some of the major players operating in the market include Thales Group, IDEMIA, Giesecke + Devrient GmBH, CPI Card Group, HID Global Corporation, Watchdata, Eastcompeace, Inteligensa, ABCorp, CardLogix. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Global Smart Card In Healthcare Market Covid-19 Impact
6. Global Smart Card In Healthcare Market Revenue (usd Bn), 2019-2027f
7. Market Insights By Product Type
8. Market Insights By Component
9. Market Insights By Region
10. Smart Card In Healthcare Market Dynamics
11. Smart Card In Healthcare Market Opportunities
12. Smart Card In Healthcare Market Trends
13. Legal & Regulatory Framework
14. Demand And Supply Side Analysis
15. Value Chain Analysis
16. Competitive Scenario
17. Company Profiled
18. Disclaimer
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global Smart Card in Healthcare market were the three major steps undertaken to create and analyze the adoption of Smart Card in Healthcare. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Smart Card in Healthcare sector. Post assumption and validation of market numbers through primary interviews, we employed a top-down approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
The detailed secondary study was conducted to obtain the historical market size of the Smart Card in Healthcare through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Smart Card in Healthcare market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments for major regions. Major segments included in the report are Product Type, Component, and Region. Further country-level analyses were conducted to evaluate the overall adoption of Smart Card in Healthcare in every region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Smart Card in Healthcare. Further, we conducted factor analysis using dependent and independent variables including growing demand for technological advanced product in the healthcare sector and rising risk of data privacy etc.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Smart Card in Healthcare Market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Smart Card in Healthcare market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of Product Type, Component, and Region of the Smart Card in Healthcare market.
Main Objective of the Smart Card in Healthcare Market Study
The current & future market trends of Smart Card in Healthcare were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
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October 8, 2024
