Emphasis on Interface Type (Contact-Based Smart Card Readers, Contactless-Based Smart Card Readers, Dual Interface-Based Smart Card Readers); Application (Identity & Other Sensitive Information Management, Security & Access Management); End-Users (Hospitals and Clinics, Others); and Region/Country
The Healthcare smart card reader market was valued at USD 956.05 million in 2022 & is expected to grow at a CAGR of 15.1% from 2023-2030. The healthcare smart card reader market involves the manufacturing, distribution, and adoption of smart card reader devices specifically designed for use in the healthcare industry. These devices are used to read smart cards, which store and provide secure access to sensitive patient information, electronic health records (EHRs), and other healthcare-related data. Smart card readers in healthcare settings are essential for ensuring data security, patient privacy, and efficient access control. The widespread adoption of EHR systems has driven the demand for secure access control solutions like smart card readers. These readers help healthcare professionals securely authenticate themselves to access and update patient records. For instance, in February 2021, As of 2020, 89.7% of office-based physicians in the United States had adopted certified EHR systems, according to the Office of the National Coordinator for Health Information Technology (ONC). Furthermore, the rising threat of data breaches and the need to comply with stringent data protection regulations have pushed healthcare organizations to invest in robust data security solutions, including smart card readers. For example, in 2020, the global average cost of a data breach in the healthcare sector was 7.13 USD million, according to the IBM Data Breach Report.
Some of the major players operating in the market are Identiv, Inc.; Advanced Card Systems Ltd.; Thales Group; SecuGen Corporation.; IDENTOS Inc; Advantech Co., Ltd.; gt german telematics gesellschaft für telematikdienste mbH; FEITIAN Technologies Co., Ltd.; HID Global Corporation; Zebra Technologies. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst interface type, the contactless-based smart card readers segment held a significant share of the market in 2023.”
Based on the interface type, the market has been categorized into contact-based smart card readers, contactless-based smart card readers, and dual interface-based smart card readers. Among them, the contactless-based smart card readers segment is expected to grow at a higher CAGR in the market due to the wake of the COVID-19 pandemic, Healthcare facilities prioritize infection control and minimise touchpoints. Contactless smart card readers reduce the need for physical contact, enhancing hygiene and reducing the risk of disease transmission. Contactless technology allows for faster authentication and access, streamlining healthcare workflows. This is especially crucial in emergency situations or busy healthcare settings where time is of the essence.
“Amongst application, the security & access management segment held the higher CAGR in the market in 2023.”
Based on the application, the market has been categorized into identity & other sensitive information management and security & access management. Among them, the security & access management segment is expected to grow at a higher CAGR in the market. The healthcare sector handles highly sensitive patient data, making it a prime target for cyberattacks. Security breaches can have severe consequences, including financial penalties and reputational damage. Robust security measures are essential to protect patient information. Moreover, healthcare organizations must comply with strict data protection regulations, such as the Health Insurance Portability and Accountability Act (HIPAA) in the United States and the General Data Protection Regulation (GDPR) in the European Union
“North America dominated the Healthcare smart card reader market in 2023.”
The North America Healthcare Smart Card Reader market is expected to continue to grow in the coming years, driven by the Increasing Adoption of Electronic Health Records (EHRs), the rising threat of data breaches and the need to comply with stringent data protection regulations and the COVID-19 pandemic accelerated the adoption of telehealth and remote healthcare services. Smart card readers are crucial for secure identity verification and data access during virtual medical consultations. For instance, In the United States, the use of telehealth services increased by 3,000% in 2020, as reported by the Centers for Disease Control and Prevention (CDC).
Healthcare smart card reader Market Report Coverage
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Impact Of Covid-19 On The Healthcare Smart Card Reader Market
6. Global Healthcare Smart Card Reader Market Revenue, 2020-2030f
7. Market Insights By Interface Type
8. Market Insights By Application
9. Market Insights By End-users
10. Market Insights By Region
11. Healthcare Smart Card Reader Market Dynamics
12. Healthcare Smart Card Reader Market Opportunities
13. Healthcare Smart Card Reader Market Trends & Insights
14. Demand And Supply Side Analysis
15. Value Chain Analysis
16. Pricing Analysis
17. Competitive Scenario
18. Company Profiled
19. Disclaimer
Research Methodology for the Healthcare Smart Card Reader Market Analysis (2023-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Healthcare smart card reader market were the three major steps undertaken to create and analyze the adoption of Healthcare smart card reader in major regions globally. 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 global Healthcare smart card reader market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up 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 of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Healthcare smart card reader market 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 Healthcare smart card reader market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as interface type, application and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that 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 the Healthcare smart card reader market. Further, we conducted factor analysis using dependent and independent variables such as interface type, application and end-users of the Healthcare smart card reader market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Healthcare smart card reader market sector across the globe.
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 global Healthcare smart card reader 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/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments 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, 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
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Healthcare smart card reader market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the interface type, application and end-users in the global Healthcare smart card reader market.
The main objective of the Global Healthcare smart card reader Market Study
The current & future market trends of the global Healthcare smart card reader market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends 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 from a first-mover advantage. Other quantitative goals of the studies include:
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