Healthcare Automatic Identification And Data Capture Market Size Worth $62.0 Billion By 2028: Grand View Research, Inc.

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May 27, 2021, 04:05 ET

SAN FRANCISCO, May 27, 2021 /PRNewswire/ -- The global healthcare automatic identification and data capture market size is expected to reach USD 62.0 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 22.3% from 2021 to 2028. The growth is attributed majorly due to the increasing focus of pharmaceutical companies on optimizing the supply chain. For instance, in October 2020, Sandoz launched its first RFID-tagged critical injectable medicines in the U.S.

Key suggestions from the report:

The biometric emerged as the largest revenue-generating segment of the healthcare AIDC market in 2020. Increasing adoption of RFID technology for AIDC services in the healthcare industry is estimated to drive market
The hardware segment dominated the market in 2020 owing to the growing installation of RFID systems. The rising requirement for hardware-based components in the AIDC devices such as printers, scanners, readers, cards, and other such systems is expected to drive the market
The clinical segment is expected to exhibit the fastest growth rate during the study period. Growing adoption of AIDC for clinical applications such as blood transfusion verification, medication administration, verification laboratory specimen identification is anticipated to drive the market
Asia Pacific region has emerged as the fastest-growing market during the forecast period. Existence of a large pharmaceutical industry requiring this technology for process streamlining

Read 180 page research report with ToC on "Healthcare Automatic Identification And Data Capture Market Size, Share & Trends Analysis Report By Technology (Barcode, RFID, Biometric), By Component, By Application, By Region, And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/healthcare-automatic-identification-data-capture-market

Furthermore, technological advancements by market players and favorable government policies pertaining to automatic identification and data capture (AIDC) solutions are expected to fuel the market demand in coming years. The National Health Authority of India issued new guidelines for the Ayushman Bharat scheme. These guidelines for to introduce biometric authentication at the time of admission and discharge of the patients. These types of initiatives are anticipated to propel market growth.

In recent years, RFID tools, which use wireless communication to identify and track equipment and assets, have seen strong adoption in healthcare settings. Upgrading of inventory management in pharmacies, hospitals, life and science companies, high demand for enhanced patient safety by healthcare providers, and implementation of automated processes in healthcare facilities are expected to fuel the healthcare RFID market growth during the forecast period.

The COVID-19 outbreak is also becoming an emerging driver for the adoption of biometric solutions. As the COVID-19 is revealing the importance of AIDCs around the world. Hence, it is estimated that the market will witness lucrative opportunities due to the COVID-19 outbreak.

Grand View Research has segmented the global healthcare automatic identification and data capture market on the basis of technology, component, application, and region:

Healthcare AIDC Technology Outlook (Revenue, USD Million, 2016 - 2028)

Barcode
RFID
Biometric
Others

Healthcare AIDC Component Outlook (Revenue, USD Million, 2016 - 2028)

Hardware
Software
Services

Healthcare AIDC Application Outlook (Revenue, USD Million, 2016 - 2028)

Clinical
Non-Clinical

Healthcare AIDC Regional Outlook (Revenue, USD Million, 2016 - 2028)

North America

U.S.
Canada

Europe

U.K.
Germany
France
Italy
Spain

Asia Pacific

China
India
Japan
Australia
South Korea

Latin America

Brazil
Mexico
Argentina

Middle East & Africa

South Africa
Saudi Arabia

List of Key Players of Healthcare Automatic Identification And Data Capture (AIDC) Market

Datalogic S.p.A
SICK AG
Honeywell International Inc.
Cognex Corporation
Toshiba TEC Corporation
Bluebird Inc.
NXP Semiconductors
SATO Holdings Corporation
The Code Corporation
Jadak - A Novanta Company
Unitech Electronics Co., LTD.
Impinj, Inc.
Denso Wave Europe
Avery Dennison Corporation
TSC Auto ID Technology Co., Ltd.

Find more research reports on Healthcare IT Industry, by Grand View Research:

RFID in Healthcare Market–The global RFID in healthcare market size was valued at USD 2.58 billion in 2018 and is anticipated to expand at a CAGR of 22.4% during the forecast period.
Radio Frequency Identification Technology Market–The global radio frequency identification technology market size was valued at USD 10.53 billion in 2015. The RFID technology is expected to witness a steady growth in the coming years, which is attributed to the increasing demand for locating, tracking, and monitoring objects and beings for security, safety, and resource optimization.
Surgical Instrument Tracking Systems Market–The global surgical instrument tracking systems market size was valued at USD 172.2 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.2% from 2021 to 2028.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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