Smart cards are integrated circuit (IC-based) devices that can be used for various electronic applications. These devices are used by connecting them to a smart card reader by physical or contactless connection. Smart cards equipped with IC chips that can hold more information as compared to the traditional magnetic strip and bar code cards. This enables better security features making cloning and other misuse of smart cards difficult. Due to better security over traditional cards, the demand for smart cards is expected to continue accelerating in the coming years. Smart cards are already being used across various applications including payment (credit/debit cards), telecommunication, ID cards and others.
Due to rising fraudulent activities in the healthcare sector, it becomes essential for the governments as well as healthcare insurance companies to build a secure medical information infrastructure. Smart cards are highly secure and offer various benefits such as reduced overall medical record maintenance costs, reliability, better admission process and significant curb on the fraudulent activities. Smart cards are capable of operating on the existing infrastructure (e.g. magnetic strip cards) which makes them cost-effective for healthcare organizations equally. Due to these factors, the healthcare smart cards market is expected to witness high growth in the coming years.
The report titled “Global Smart Cards in Healthcare Market- Growth, Share, Opportunities and Competitive Analysis, 2015 – 2023” offers strategic insights into the global smart cards market along with the market size and estimates for the duration 2013 to 2023. The said research study covers in-depth analysis of multiple market segments based on types, components and cross-sectional study across different geographies specific to the healthcare industry. The study covers the comparative analysis of different segments for the years 2014 & 2023. The report also provides a prolific view on market dynamics such as market drivers, restraints and opportunities.
In order to help strategic decision makers, the report also includes competitive profiling of the leading smart cards system vendors, their SCOT (Strength, Challenges, Opportunities and Weaknesses) analysis, market positioning and key developments. Some of the major players profiled in the report are Giesecke & Devrient (G&D) GmbH, Gemalto NV, Oberthur Technologies, Infineon Technologies AG, NXP Semiconductors NV, Atos SE, INSIDE Secure SA, CardLogix Corporation, American Express Company and others. Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global smart cards systems market, offering market size and estimates for the period from 2015 to 2023, keeping in mind the above mentioned factors.
As of 2014, the contact-based smart cards accounted for the largest market share, in terms of revenue, of the global smart cards market. Contact-based cards are easy to use and can be easily incorporated in the existing infrastructure. Additionally, due to cheaper price of these cards as compared to the other types, the dominance of the segment is estimated to persist throughout the forecast period.
Nevertheless, the contactless smart cards segment is estimated to register the highest growth in the global smart cards market during the forecast period. Medical information is prone to various threats such as information theft/misuse, fraudulent claims and others. Contactless cards offer better security as compared to the contact-based cards and are cheaper as compared to dual-interface and hybrid smart cards. This is the prime factor anticipated to fuel the adoption of contactless smart cards in the global market.
Further, the dual-interface and hybrid smart cards segments too are expected to witness robust growth in the coming years. Despite the higher cost of these cards, the security features offered by these smart cards is highly reliable as compared to the contact-based and contactless smart cards. As a result, the segments are expected to register strong adoption in the healthcare sector in the coming years.
The global smart cards market was dominated by the microcontroller-based smart cards segment, as of 2014. The microcontroller-based smart cards are capable of storing larger amount of information as compared to the memory card-based smart cards. Additionally, due to larger information stored, these cards offer better security features and can carry out the on-card functions. Thus, it becomes easy to update the medical information of the patient thereby reducing instances of misuse.
The introduction of smart cards to the healthcare industry is majorly due to their better security features and reliability as compared to the traditional magnetic strip cards and paper work. Since microcontroller-based smart cards offer better security, these type of cards are the prominent choice for issuing smart health cards to the patients. As a result, the microcontroller-based smart cards segment is expected to enjoy its dominance in the market throughout the forecast period.
In 2014, the smart cards in healthcare market was dominated by the Europe region contributing to more than one third of the total market revenue. The market here is mainly governed by the strong investment over healthcare information technology (IT) systems. The smart healthcare cards are popularly used across countries such as the U.K., Belgium, Spain, Germany, France, Austria, Russia and other European Union countries.
The Europe smart cards in healthcare market is followed by the North America region accounting for the second largest share, in terms of revenue of the global market. The U.S. and Canada are among the leading countries, in terms of expenditure over healthcare IT systems. Due to stringent laws against the medical fraudulent activities, the region is estimated to continue showing strong growth in the coming years.
Asia Pacific is estimated to emerge as the fastest growing region for healthcare smart cards market during the forecast period. Countries such as India, South Korea and China have already issued the programs for smart health card rollout. This is expected to emerge as the prime factor for high growth in the region during the forecast period.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Smart Cards In Healthcare market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
