The Europe Healthcare Automatic Identification and Data Capture Market would witness market growth of 21.7% CAGR during the forecast period (2021-2027).
Healthcare automatic identification and data capturing products include solutions like barcoding, wearables, and radio frequency identification (RFID) solutions. All these solutions play a crucial role in the healthcare industry. The adoption of AIDC technology helps the healthcare industry to identify the items, collect the data about them automatically. This advanced technology helps in improving the overall productivity and operational efficiency as it is beneficial in keeping a proper track of inventory, human resources, accounts, and overall processes. Barcoding solutions and RFID systems are adopted by the healthcare system to help the industry label the life sciences product and store the information about the product.
The demand for healthcare AIDC has been increased over the past few years. It is attributed to rapid growth in the healthcare industry, increasing penetration of the internet, rising use of smartphones for scanning images. There is increasing convenience in making small-value payments using smartphones and it will drive the growth of the healthcare automatic identification and data capture market. Although the cost of deployment of healthcare AIDC solutions will restrain the automatic identification and data capture market. Supply chain management has been increased in the healthcare industries that act as an opportunity for the market players. The biggest challenge faced by the automatic identification and data capture market is the threat of malware.
Biometrics is a solution of healthcare automatic identification and data capture technologies. It is used in healthcare settings that ensure accurate patient identification and monitor patients. The NHS of the UK is leading in the use of IT in primary care across the world. It is actively adopting information technology in the healthcare industry. The healthcare industry in European countries is evolving. It is necessary to maintain an environment with improved patients care facilities. The COVID-19 impact led to an increased importance of automatic identification and data capture across the globe including the UK. These devices will be helpful in relieving the high pressure on hospitals as the number of patients suffering from COVID-19 has increased in the past few months. The increasing number of patients and deaths due to COVID-19 will lead to an increase in healthcare expenditure in European countries. Thus, pandemic has a positive impact on the market growth of healthcare automatic identification and data capture.
The Germany market dominated the Europe Barcode Market by Country in 2020, thereby, achieving a market value of $290.3 million by 2027. The UK market is exhibiting a CAGR of 22.7% during (2021-2027). Additionally, The France market is anticipated to witness a CAGR of 25.4% during (2021-2027).
Based on Component, the market is segmented into Hardware, Software and Services. Based on Technology, the market is segmented into Biometric, RFID, Barcode and others. Based on Application, the market is segmented into Non-Clinical and Clinical. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Healthcare Automatic Identification and Data Capture Market Size will Hit $52.8 Billion by 2027, at a CAGR of 22.1%
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.
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