Healthcare Automatic Identification and Data Capture Market Overview, Cost Structure Analysis and Forecast to 2028

Healthcare Automatic Identification and Data Capture Industry Overview

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.

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.

Healthcare Automatic Identification and Data Capture Market Segmentation

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

Based on the Technology Insights, the market is segmented into Barcode, RFID, Biometric and Others.

  • The biometric segment dominated the market for healthcare automatic identification and data capture and accounted for the largest revenue share of 40.5% in 2020 owing to government initiatives to support the implementation of biometrics in healthcare facilities to restrict ongoing healthcare fraud & medical identity theft. 
  • The counterfeiting of medications and pharmacy-related products raises concern at a global level and RFID technologies are acting as an anti-counterfeiting technology.  RFID in healthcare is expanding significantly in the healthcare sector owing to its numerous applications. 

Based on the Component Insights, the market is segmented into Hardware, Software and Services.

  • The hardware segment dominated the market and held the largest revenue share of 44.0% as of 2020 due to the surging adoption of biometric technology. The rising requirement for hardware-based components in the automatic identification and data capture devices such as printers, scanners, readers, cards, and other such systems is expected to drive the growth.

Based on the Application Insights, the market is segmented into Clinical and Non-clinical.

  • The non-clinical segment dominated the market and accounted for the largest revenue share of 74.9% in 2020 owing to the higher adoption of RFID and barcode technology in applications such as medical staff & asset tracking, supply chain management.

Healthcare Automatic Identification and Data Capture Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

Key Companies Profile

The market players are investing in strategies including product launches, acquisitions, expansions, and collaborations to gain a competitive advantage in the market for healthcare automatic identification and data capture.

Some prominent players in the global 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.

Order a free sample PDF of the Healthcare Automatic Identification and Data Capture Market Intelligence Study, published by Grand View Research.

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