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), Application, End-use & Global Forecast, 2023-2032

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), Application, End-use & Global Forecast, 2023-2032

Healthcare Smart Card Reader Market Size

Healthcare Smart Card Reader market size was valued at over USD 1.2 billion in 2022 and is anticipated to grow at over 18% CAGR through 2023 - 2032. Driven by the surging government support for the deployment of smart card infrastructure.
 

Surging digitalization in the healthcare space in key aspects such as medical record-keeping, insurance, and others for effective management of patient data has bolstered the demand for smart card readers. These cards enable safe storage and retrieval of patient information and offer instant patient verification for immediate insurance processing and refund. Many governments across the world are investing in the implementation of smart card infrastructure to ensure security and privacy of healthcare records. These cards also support their drive to go paperless and attain smart management of data.

Prohibitive initial investment associated with smart card readers may hinder industry progress.

Despite an expanding scope for product adoption, steep initial investments related to smart card readers poses a major hurdle for healthcare smart card reader market expansion. The high expenses incurred during the procurement and installation of necessary hardware and software for implementation of smart card readers make it an out of reach luxury for many small and medium-scale healthcare units. Based on product specifications, the cost of smart card readers varies, and large healthcare organizations require a significant number of readers, which further increases their expenses. 
 

Healthcare Smart Card Reader Market Analysis

On the basis of card, the healthcare smart card reader market from memory-based smart cards segment is poised to record a valuation of over USD 3 billion by 2032. The higher security offered by memory-only smart cards is likely to drive the segment scenario. The ability of these cards to use multi-step authentication makes them highly suitable for healthcare applications. These cards are used in many healthcare facilities for safe storage of medical records and patient data and for offering authorized access to healthcare services. 
 

With respect to application, the identity & information management segment accounted for over 57% of revenue share of the healthcare smart card reader market in 2022. Healthcare smart card readers help with the verification of patient data by identifying unique attributes such as patient’s name, medical record number, date of birth, and others. They also record the frequency of patient visits, treatments, and health status to offer real-time insights to healthcare facilities about a patient’s history. 
 

Rising focus of several world governments on digitalizing their healthcare has bolstered the demand for these readers. Back in January 2023, the National Health Authority of India launched Digital Health Incentive Scheme for the digitalization of patient health records in the country, proliferating the demand for smart card readers from the Indian market.  
 

North America healthcare smart card reader market is expected to witness a valuation of over USD 1.3 billion by 2032. Surging healthcare investments have proliferated the demand for advanced medical devices such as healthcare smart cards and readers. Regional expansion can also be ascribed to increasing occurrence of chronic conditions which has bolstered the demand for novel medical devices such as smart card readers to manage large chunks of patient information.
 

Healthcare Smart Card Reader Market Share

Some leading healthcare smart card reader industry players are

• Identiv, Inc.
• SecuGen Corporation
• Advantech Co., Ltd.
• Advanced Card Systems Ltd.
• IDENTOS Inc.
• German Telematics

These firms are heavily investing in strategic partnerships to outperform their competition.
 

Impact of COVID-19 Pandemic

The COVID-19 pandemic had a negative impact on healthcare smart card reader industry on account of supply chain halts. Social distancing norms and prolonged lockdowns implemented by many governments across the globe hampered operations in the healthcare sector, which further affected the demand for smart card readers. However, an elevated demand for digital health solutions in the second half of 2020 presented growth pathways to the industry.
 

In the post-COVID-19 scenario as well, the industry is likely to witness lucrative gains due to government support for digital health solutions.
 

The healthcare smart card reader market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments

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By Product

• Contact-based card readers
• Contactless card readers
• Dual interface card readers
• Others

By Card

• Memory-based smart cards
• Micro-controller based smart cards

By Application

• Identity & Information Management
• Security & Access Management

By End-use

• Hospitals and Clinics
• Others

The above information is provided for the following region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Poland
  • The Netherlands
  • Switzerland
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Taiwan
  • Japan
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Chile
  • Columbia
• MEA
  • South Africa
  • Saudi Arabia
  • UAE
  • Israel
  • Iran
  • Turkey