Global Healthcare Automatic Identification And Data Capture (AIDC) Market Size By Type (Magnetic Stripe Cards, Smart Cards), By Application (Clinical Application, Non-Clinical Application), By Geographic Scope And Forecast

Healthcare Automatic Identification And Data Capture (AIDC) Market Size And Forecast

Healthcare Automatic Identification And Data Capture (AIDC) Market size was valued at USD 2.27 Billion in 2021 and is projected to reach USD 6.63 Billion by 2030, growing at a CAGR of 14.34% from 2022 to 2030.

Managing the healthcare workforce as well as scheduling patient workflow efficiently leads to the growth of the market. Also, a rise in government regulations for the mandating of AIDC Technology use will lead to the growth of the market. The Global Healthcare Automatic Identification And Data Capture (AIDC) Market report provide a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Healthcare Automatic Identification And Data Capture (AIDC) Market Definition

AIDC which is usually abbreviated as Automatic identification and data capture can enter into a computer without any human intervention and it is a method that helps in the identification and collecting of data. There are several technologies that are parts of AIDC including magnetic stripes, bar codes, QR codes, biometrics, radio frequency identification, optical character recognition, smart cards, and voice recognition. With the help of Healthcare’s automatic identification & data capture (AIDC), it allows users the error-free collection of data with improved patient care by decreasing the risk of medication errors.

The collection of information from paper documents as well as saving it into databases is the most useful application of Global Healthcare Automatic Identification & Data Capture (AIDC). To obtain external data through analysis of images, sounds or videos AIDC is used. For converting the actual image or a sound into a digital file a transducer is employed for capturing the data. At a later time, it can be analyzed by a computer and compared with other databases to verify the identity or to provide the authorization to enter into a secured system which is stored in a file. Data capturing can be done in several ways depending upon the best method.

Global Healthcare Automatic Identification And Data Capture (AIDC) Market Overview

With the rise in government regulations for the mandating of AIDC Technology, there is an increase in the demand for Global Healthcare Automatic Identification & Data Capture (AIDC) from customers driving the growth of the market. Expansion of the e-Commerce industry rapidly increases the growth of the Global market. Due to the increase in the healthcare expenditure and several challenges that occurs in the medication which leads to errors and to overcome this Healthcare AIDC is used. There is a huge demand for managing the healthcare workforce as well as scheduling patient workflow efficiently which leads to the growth of the market. To maintain real-time visibility on various devices and assets which supports the growth of the global market. As patient safety is concerned and technology is evolving there is a growing opportunity that drives the market for Global market.

With the technological advancements, AIDC is increasingly applicable in several functions across industries which include manufacturing, BSFI, transportation & logistics, retail, healthcare, and others which significantly boosts the market. Integration of barcode, biometric authentication, and RFID is increasing among industries due to its applicability to the emergence of smart technologies which created ample amount of opportunities to improve user experience. Major key players are now investing in AIDC as the technology and applications are increasing in different sectors which encourages them to put more effort into the Global market. In deploying the biometric and RFID systems high cost is involved which hinders the market also reluctance towards the adoption of new technologies will restrain the growth of the global market.

Global Healthcare Automatic Identification And Data Capture (AIDC) MarketSegmentation Analysis

The Global Healthcare Automatic Identification And Data Capture (AIDC) Market is Segmented on the basis of Type, Application, And Geography.

Healthcare Automatic Identification And Data Capture (AIDC) Market, By Type

• Magnetic Stripe Cards• Smart Cards• Optical Character Recognition (OCR) Systems• RFID Products• Biometric Systems

Based on Type, the market is bifurcated into Magnetic Stripe Cards, Smart Cards, Optical Character Recognition (OCR) Systems, RFID Products, and Biometric Systems. The RFID segment is dominating the overall market because of the increase in adoption in the value chain of the healthcare industry to track medical devices and pharmaceuticals.

Healthcare Automatic Identification And Data Capture (AIDC) Market, By Application

• Clinical Application• Non-Clinical Application• Supply Chain Management

Based on Application, the market is bifurcated into Clinical Application, Non-Clinical Application, and Supply Chain Management. Non-Clinical Applications accounted for the largest market share because of the adoption of barcode and RFID technology.

Healthcare Automatic Identification And Data Capture (AIDC) Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of Geography, The Global Healthcare Automatic Identification And Data Capture (AIDC) Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America accounted for the largest market share in 2020.

Key Players

The “Global Healthcare Automatic Identification And Data Capture (AIDC) Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Datalogic, Honeywell, Zebra Technologies, Sick, Cognex, Sato, Denso Wave, Cipherlab, Jadak, and Opticon. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

Partnerships, Collaborations and Agreements

• In Sep 2021, Effidence, a pioneer in collaborative mobile robots, and Manitou Group, a global reference in handling, lifting, and earthmoving, have both partnered with Datalogic’s security and identification products for their pallet order picking robots. In Aug 2021, Cobot Nation partners with Cognex for machine vision with collaborative robots

• In Aug 2021, Cobot Nation partners with Cognex for machine vision with collaborative robots.

Mergers and Acquisitions

• In Mar 2022, Zebra Technologies is acquiring Matrox Imaging for $875 million. The acquisition is expected to close in 2022.

• In Oct 2019, Cognex Acquires SUALAB to Advance its Leadership in Deep Learning-Based Machine Vision.

Report Scope

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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