The global Healthcare Automatic Identification And Data Capture market gathered revenue around USD 14.2 Billion in 2020 and market is set to grow USD 62.0 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 23.1% during the prediction period 2021 to 2027.
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.
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.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Healthcare Automatic Identification And Data Capture market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Healthcare Automatic Identification And Data Capture market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
|Market Size||USD 62.0 Billion by 2027|
|Growth Rate||CAGR of 23.1% From 2021 to 2027|
|Forecast Period||2021 to 2027|
|Historic Data||2017 to 2020|
|Report coverage||Growth Factors, Revenue Status, Competitive Landscape, and Future Trends|
|Segments Covered||Technology, application, component and Region
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned||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.
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Healthcare Automatic Identification And Data Capture market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
North America dominated the healthcare automatic identification and data capture market and accounted for the largest revenue share of 41.2% in 2020 owing to the high adoption of advanced technologies for facilitating better healthcare to patients, demand for better healthcare facilities, and healthcare expenditure. According to the CMS, the healthcare expenditure of the U.S. was 17.6% of its GDP in 2019. This shows the high adoption of healthcare automatic identification and data capture in this region.
On the other hand, Asia Pacific is likely to experience significant growth owing to the growing demand for healthcare automation to deal with the issue of scarcity of healthcare professionals, growing per capita income, increasing investments in the healthcare industry by key market players.
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Healthcare Automatic Identification And Data Capture Market include: 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.
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:
Middle East & Africa (MEA)
Highlights of the Report:
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Healthcare Automatic Identification And Data Capture market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Healthcare Automatic Identification And Data Capture market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Healthcare Automatic Identification And Data Capture markets more accurate and reliable.
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Healthcare Automatic Identification And Data Capture Market Study: