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Healthcare Smart Card Reader Market size to surpass $6 Bn by 2032

  • Published Date: April 26, 2023

Healthcare Smart Card Reader Market size is anticipated to cross 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.

Advanced security features to foster contact-based card readers product segment gains

Healthcare smart card reader market 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 SCR industry 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 - 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) & Global 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 SCR industry 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.

Mergers and acquisitions to define competitive landscape

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.

Authors: Rupali Swain, Subodh Kharad