Outlook on the Healthcare Automatic Identification and Data Capture Global Market to 2027 - Featuring Honeywell International, Cognex and Toshiba Among Others

News provided by

Jul 06, 2021, 13:30 ET

DUBLIN, July 6, 2021 /PRNewswire/ -- The "Global Healthcare Automatic Identification and Data Capture Market By Component, By Technology, By Application, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.

The Global Healthcare Automatic Identification and Data Capture Market size is expected to reach $52.8 billion by 2027, rising at a market growth of 22.1% CAGR during the forecast period. Automatic identification and data capture (AIDC) is considered as a technique which is capable to identify objects, collects data about them, and feeds the data directly into computer systems. Any kind of human intervention is not required in this technique. Technologies such as QR codes, bar codes, biometrics such as iris and facial recognition system, magnetic stripes, radio frequency identification (RFID), smart cards, optical character recognition (OCR), and voice recognition fall under the domain of AIDC.

The adoption of healthcare Automatic identification & data capture (AIDC) technology will promote error-free data collection as well as improved patient safety. The increasing need to decrease medication errors and other related healthcare expenses is expected to boost the demand for AIDC in healthcare facilities which in turn drives the growth of this market. In addition to it, there is increasing attention towards patient safety, technological revolution, and supportive government regulations on the use of barcode & RFID technology. all these factors are expected to act as a driving factor for the growth of the global healthcare automatic identification & data capture (AIDC) market.

COVID-19 Impact:

The outbreak of the COVID-19 pandemic has a positive impact on the sales of healthcare AIDCs across the globe. It has created both opportunities and challenges for the players present in the healthcare ecosystem. The healthcare AIDC is expected to increase in demand since healthcare is still active across the globe. An individual needs to have a clean face and fingerprint for recognition in order to access the database of any system. The access to the database may fail if the individual does not have any one of the clear identification criteria. These additional security features of biometrics offer opportunities for the growth of the healthcare automatic identification and data capture market. The number of patients to be admitted to hospitals and deaths due to COVID-19 has increased. This has forced countries to increase healthcare expenditure and infrastructure. It is expected to drive the growth of the market for healthcare AIDC products and services.

Component Outlook

Based on Component, the market is segmented into Hardware, Software and Services. The hardware segment led the market in 2020 and had the largest revenue share of the market. This is accredited to factors like the increasing adoption of biometric technology. The need for hardware-based components such as scanners, readers, printers, cards, and other such systems has been increased in the healthcare automatic identification and data capture. It is expected to boost the growth of the market. Increasing competitiveness led to having cost-effective accessibility of RFID solutions. In addition to it, due to COVID-19, the increasing installation of RFID systems is also an important factor leading to the growth of the hardware segment.

Technology Outlook

Based on Technology, the market is segmented into Biometric, RFID, Barcode and others. Barcoding is very adaptive technology, especially in the healthcare industry. It finds its application in dietary management, gamete tracking in fertilization, blood transfusion verification, medication administration, laboratory specimen identification, verification, etc. This is likely to drive the demand for automatic identification and data capture technologies in the healthcare industry.

Application Outlook

Based on Application, the market is segmented into Non-Clinical and Clinical. The non-clinical segment led the market the previous year. It has accounted for the largest revenue share in 2020. The growth of this segment is contributed to factors like increasing adoption of RFID and barcode technology for tracking medical staff & asset and supply chain management. Manufacturers of healthcare equipment are seeking solutions for supply chain management to ensure accurate, faster, and efficient transportation and warehouse management. Thus, it is expected to boost the demand for non-clinical applications in the forecasted period.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific is expected to experience considerable growth due to the increasing demand for healthcare automation in order to deal with the scarcity of healthcare professionals. The per capita income has increased leading to increasing investments in the healthcare industry by market players.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Datalogic S.p.A. (Hydra S.p.A.), Sick AG, Honeywell International, Inc., Cognex Corporation, Toshiba Corporation, NXP Semiconductors N.V., Impinj, Inc., Denso Corporation, Avery Dennison Corporation, and Bluebird, Inc.

Unique Offerings from the Publisher

Exhaustive coverage
Highest number of market tables and figures
Subscription based model available
Guaranteed best price
Assured post sales research support with 10% customization free

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview

Chapter 3. Global Healthcare Automatic Identification And Data Capture Market by Component
3.1 Global Hardware Market by Region
3.2 Global Software Market by Region
3.3 Global Services Market by Region

Chapter 4. Global Healthcare Automatic Identification And Data Capture Market by Technology
4.1 Global Biometric Market by Region
4.2 Global RFID Market by Region
4.3 Global Barcode Market by Region
4.4 Global Others Market by Region

Chapter 5. Global Healthcare Automatic Identification And Data Capture Market by Application
5.1 Global Non-Clinical Market by Region
5.2 Global Clinical Market by Region

Chapter 6. Global Healthcare Automatic Identification And Data Capture Market by Region

Chapter 7. Company Profiles
7.1 Datalogic S.p.A. (Hydra S.p.A.)
7.1.1 Company Overview
7.1.1 Financial Analysis
7.1.2 Regional & Segmental Analysis
7.1.3 Research & Development Expenses
7.1.4 Recent strategies and developments:
7.1.4.1 Partnerships, Collaborations, and Agreements:
7.2 Sick AG
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expense
7.2.5 SWOT Analysis
7.3 Honeywell International, Inc.
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Regional & Segmental Analysis
7.3.4 Research & Development Expenses
7.3.5 SWOT Analysis
7.4 Cognex Corporation
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Regional Analysis
7.4.4 Research & Development Expense
7.5 Toshiba Corporation
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Research and Development Expense
7.5.5 SWOT Analysis
7.6 NXP Semiconductors N.V.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Regional Analysis
7.6.4 Research & Development Expense
7.6.5 SWOT Analysis
7.7 Impinj, Inc.
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Regional Analysis
7.7.4 Research & Development Expense
7.8 Denso Corporation
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Regional Analysis
7.8.4 Research & Development Expense
7.9 Avery Dennison Corporation
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Segmental and Regional Analysis
7.9.4 Research & Development Expense
7.10. Bluebird, Inc.
7.10.1 Company Overview