Healthcare Smart Card Reader Market Analysis

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.