Smart Card in Healthcare Market: Current Analysis and Forecast (2021-2027)

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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

Published:

Nov-2021

Pages:

253

Table:

44

Figure:

126

Report ID:

UMHE21518

Geography:

Clear
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Report Description
Table of content
Research Methodology

Report Description

Smart Card in Healthcare Market 2
Smart Card in Healthcare Market 2

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)

Smart Card in Healthcare Market 1
Smart Card in Healthcare Market 1

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.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

Customization Options:

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1.1.Market Definitions
1.2.Limitation
1.3.Stake Holders
1.4.Currency used in Report
2.1.Research Process of the Smart card in healthcare Market
2.2.Research Methodology of the Smart card in healthcare Market
2.3.Forecasting Method
2.4.Respondent Profile
2.5.Main Objective of the Smart card in healthcare Market Study
3MARKET SYNOPSIS

 

4EXECUTIVE SUMMARY

 

5GLOBAL SMART CARD IN HEALTHCARE MARKET COVID-19 IMPACT

 

6GLOBAL SMART CARD IN HEALTHCARE MARKET REVENUE (USD BN), 2019-2027F

 

7.1.Hybrid Smart Cards
7.2.Contactless Smart Cards
7.3.Contact-based Smart Cards
7.4.Dual-interface Smart Cards
8.1.Memory-card Based Smart Cards
8.2.Microcontroller Based Smart Cards
9.1.North America Smart card in healthcare Market 
 9.1.1.United States
 9.1.2.Canada
 9.1.3.Rest of North America
9.2.Europe Smart card in healthcare Market 
 9.2.1.Germany
 9.2.2.U.K.
 9.2.3.France
 9.2.4.Spain
 9.2.5.Rest of Europe
9.3.Asia Pacific Smart card in healthcare Market
 9.3.1.China
 9.3.2.Japan
 9.3.3.India
 9.3.4.Australia
 9.3.5.Rest of Asia Pacific
9.4.Rest of World Smart card in healthcare Market 
10.1.Market Drivers
10.2.Market Challenges
10.3.Impact Analysis
11SMART CARD IN HEALTHCARE MARKET OPPORTUNITIES

 

12SMART CARD IN HEALTHCARE MARKET TRENDS
13LEGAL & REGULATORY FRAMEWORK

 

14.1.Demand Side Analysis
14.2.Supply Side Analysis
 14.2.1.Top Product Launches
 14.2.2.Top Business Partnerships
 14.2.3.Top Business Expansions, Investments and Divestitures
 14.2.4.Top Merger and Acquisitions
15VALUE CHAIN ANALYSIS
16.1.Competitive Landscape
 16.1.1.Company Shares, By Revenue
17.1.Thales Group
17.2.IDEMIA
17.3.Giesecke + Devrient GmBH
17.4.CPI Card Group
17.5.HID Global Corporation
17.6.Watchdata
17.7.Eastcompeace 
17.8.Inteligensa
17.9.ABCorp 
17.10.CardLogix

 

18DISCLAIMER

 

Research Methodology

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:

  • The industry’s market size, in terms of value (USD) and the adoption rate of Smart Card in Healthcare across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the Smart Card in Healthcare market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

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

Smart Card in Healthcare Market 3
Smart Card in Healthcare Market 3

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:

  • Analyze the current and forecast market size of Smart Card in Healthcare in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
  • Segments in the study include areas of Product Type, Component, and Region
  • Define and analysis of the regulatory framework for the Smart Card in Healthcare industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the Smart Card in Healthcare market for the major region
  • Major regions studied in the report include North America (the United States and Canada), Europe (Germany, France, Spain, and United Kingdom), Asia-Pacific (China, Japan, India, and Australia), and the Rest of the World
  • Company profiles of the Smart Card in Healthcare market and the growth strategies adopted by the market players to sustain in the fast-growing market
  • Deep dive regional level analysis of the industry