The Europe Smart Card in Healthcare Market would witness market growth of 12.7% CAGR during the forecast period (2021-2027).
Smart cards offer more flexibility to safely add data to a patient healthcare card after the card is issued, which would support the growth of the market. Due to this aspect, healthcare applications get support along with numerous benefits. The prescriptions of a patient can be added to the card, which offers updated data whenever a patient gets medical care from numerous providers or in an emergency. Along with that, patient record identification or numerous patient identification numbers can also be added to the smart card that enables in exchange of records and also assisting with care coordination among various healthcare providers. In addition, patient healthcare data can be added to and embedded on the card by qualified healthcare providers with the latest information accessible for the healthcare providers & patients to access.
The presence of the big giants in the market with numerous other manufacturers of smart cards for healthcare applications has increased the competition in the market. In addition, these key players are engaged in the new product releases, partnerships, and acquisitions to attain a competitive edge over each other in the market.
There are numerous initiatives taken by the government across the region for streamlining better healthcare facilities, which is anticipated to spur the growth of the regional market. Additionally, there are many non-government organizations that are also helping the government in creating a stronger healthcare system, which would augment the regional growth of the smart card in healthcare market.
The presence of key market players across this region is one of the aspects propelling the regional growth of the smart card in healthcare market. The growing adoption of smart health cards in various nations of the region along with the increasing awareness among customers regarding the health benefits offered by these cards would also augment the regional market growth in the coming years. Furthermore, some European countries have official health cards issued by the government authorities, which is supporting the growth of the smart card in healthcare market.
The Germany market dominated the Europe Memory-card Based Smart Cards Market by Country in 2020, thereby, achieving a market value of $83.7 million by 2027. The UK market is exhibiting a CAGR of 12% during (2021 - 2027). Additionally, The France market is poised to grow at a CAGR of 14.5% during (2021 - 2027).
Based on Product, the market is segmented into Contactless Smart Cards, Contact-based Smart Cards, Hybrid Smart Cards and Dual-interface Smart Cards. Based on Component, the market is segmented into Microcontroller Based Smart Cards and Memory-card Based Smart Cards. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Smart Card in Healthcare Market Size will Hit $2.3 Billion by 2027, at a CAGR of 13%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Infineon Technologies AG, Texas Instruments, Inc., NXP Semiconductors N.V., Thales Group S.A., Atos Group, Giesecke & Devrient GmbH, American Express Company, VeriFone Holdings, Inc. (Francisco Partners), IDEMIA SAS (Advent International, Inc.) and CardLogix Corporation.
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