PUBLISHER: The Business Research Company | PRODUCT CODE: 1653396
PUBLISHER: The Business Research Company | PRODUCT CODE: 1653396
A smart card is a plastic card containing a computer chip that facilitates the storage and exchange of data between users. The data, associated with either value or information or both, is stored and processed within the chip embedded in the card. In healthcare, smart health cards play a crucial role in managing patient identity and providing practitioners and pharmacists with secure access to medical records. Patient identification forms the foundation of quality medical care and effective health system management. Smart cards are utilized in various operational activities within the healthcare industry.
The main types of smart cards in healthcare are contactless smart cards, contact-based smart cards, dual-interface smart cards, and hybrid smart cards. Contactless smart cards employ RF technology and operate at short ranges (less than 4 in. ), ensuring high security. This technology is widely used for secure identity applications globally. Contactless smart cards resemble contact smart cards but lack the contact plate, communicating with the reader through a contactless RF interface. Components of smart cards in healthcare include memory card-based smart cards and microcontroller-based smart cards. Applications of smart cards in healthcare encompass personal identity, patient history, billing and payment, and security.
The smart card in healthcare market research report is one of a series of new reports from The Business Research Company that provides Smart card in healthcare market statistics, including Smart card in healthcare industry global market size, regional shares, competitors with a Smart card in healthcare market share, detailed Smart card in healthcare market segments, market trends and opportunities, and any further data you may need to thrive in the Smart card in healthcare industry. This Smart card in healthcare market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The smart card in healthcare market size has grown strongly in recent years. It will grow from $1.59 billion in 2024 to $1.75 billion in 2025 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to enhanced data security, digitalization of healthcare records, improved patient identification, integration with electronic health records (EHR).
The smart card in healthcare market size is expected to see rapid growth in the next few years. It will grow to $3.13 billion in 2029 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to streamlining workflow efficiency, reduction in medical errors, empowering patients, government initiatives and regulations, efficient healthcare service delivery. Major trends in the forecast period include enhanced data security measures, biometric integration, contactless smart cards, telemedicine and remote patient monitoring, health information exchange (HIE).
The rise in data breaches and unauthorized access in healthcare portals is driving the growth of smart cards in the healthcare market. Data breaches and unauthorized access refer to incidents where sensitive patient information is compromised due to insufficient security measures or malicious attacks. The increase in these breaches is fueled by escalating cyber threats, inadequate security protocols, and the growing digitization of healthcare records. Utilizing smart cards can help mitigate risks associated with data breaches and cyber-attacks by providing secure authentication and encryption. For example, in September 2024, a report by Check Point, an Israel-based software security provider, indicated that from January to September 2024, the healthcare sector experienced an average of 2,018 attacks per organization globally each week. This marks a 32 percent increase compared to the same period in the previous year. Therefore, the rising number of data breaches and unauthorized access incidents in healthcare portals is expected to boost the market during the forecast period.
The growing adoption of electronic health records (EHRs) is expected to drive the growth of smart cards in the healthcare market in the future. An electronic health record (EHR) is a digital version of a patient's medical record that provides a real-time, patient-centered record accessible instantly and securely to authorized users. Smart cards can be utilized to verify the identity of healthcare providers accessing EHRs and can also encrypt EHR data, helping to protect patient privacy and prevent unauthorized access to medical records. For example, in August 2023, the Centers for Medicare & Medicaid Services (CMS) reported a 3.1% net increase in Medicare inpatient prospective payment system (IPPS) rates for fiscal year 2024. Therefore, the increasing adoption of electronic health records (EHRs) is driving the growth of smart cards in the healthcare market.
Major companies operating in the smart card healthcare market are developing advanced solutions, such as payment cards, to broaden their customer base and maintain a competitive advantage over existing rivals. A payment card is a digital or physical card that enables patients to pay for medical services and treatments directly, simplifying the claims process and reducing the need for reimbursement claims. For example, in February 2024, AXA Global Healthcare, a UK-based software company, introduced its new virtual healthcare payment card aimed at streamlining the claims process for customers. A recent survey highlighted that time and administration are significant obstacles in making health insurance claims. This virtual card can be added to digital wallets, including Apple Pay and Google Pay, allowing members to pay for eligible outpatient treatments, such as over-the-counter prescriptions, directly without using personal funds or filing lengthy claims. Research indicates that many international claims are for low-value expenses, often paid out of pocket, which makes the claims process cumbersome for members.
Strategic partnerships and collaborations are also prominent in the smart card in healthcare market, with major companies joining forces to launch smart card facilities and gain a competitive edge. An instance is the collaboration between the All India Institute of Medical Sciences (AIIMS) and the State Bank of India in November 2022 to launch the AIIMS Smart Card facility, simplifying payments for patients and seamlessly integrating with the hospital's billing system. This collaboration aims to enhance patient care, reduce healthcare costs, and improve access to care.
In August 2022, Recuro Health, a US-based virtual health solutions company, acquired Competitive Health Inc, a move that expands Recuro's digital solutions portfolio and strengthens its client network. This acquisition demonstrates the ongoing developments and strategic initiatives within the smart card in healthcare market.
Major companies operating in the smart card in healthcare market include Atos SE, Giesecke+Devrient GmbH, Infineon Technologies AG, Thales Group, CardLogix Corporation, NXP Semiconductors N. V., Texas Instruments Incorporated, IDenticard Systems LLC, SCM Microsystems Inc., IDEMIA France SAS, American Express Company, Mastercard Incorporated, Visa Inc., HID Global Corporation, Ingenico Group SA, Verifone Systems Inc., Heartland Payment Systems Inc., Square Inc., Apple Inc., Samsung Electronics Co Ltd., Google LLC, Microsoft Corporation, International Business Machines Corporation (IBM), Oracle Corporation, Cisco Systems Inc., Intel Corporation, Hewlett Packard Enterprise Company
Asia-Pacific was the largest region in the smart card in healthcare market in 2024, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the smart card in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the smart card in healthcare market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The smart card in healthcare market consists of revenues earned by entities by providing memory smart cards and contactless smart cards. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Smart Card in Healthcare Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on smart card in healthcare market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for smart card in healthcare ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The smart card in healthcare market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.