According
to a new market research report published by Credence Research “Smart Cards in
Healthcare (By Type – Contact-based Smart Cards, Contactless Smart Cards,
Dual-interface Smart Cards and Hybrid Smart Cards) Market - Growth, Share,
Opportunities, Competitive Analysis, and Forecast 2015 - 2022”, the global
smart cards market for healthcare informatics application was valued at US$
570.9 Mn in 2014 and is estimated to expand with a CAGR of 8.6% from 2015 to
2022.
Market
Insights
Smart cards refer
to a pocket-sized device embedded with an integrated circuit (IC) chip. The IC
chip on the card can be memory card-based or microcontroller-card based
depending upon the function of smart cards. Smart card is used by connecting it
to a smart card reader either through direct physical contact or radio
frequency (RF) communication. Thus, the operation of smart cards is quite
similar to the traditional magnetic strip and bar code cards.
The rising misuse
of medical benefits and other frauds in the industry have grown rampant in the
past several years. Many national governments are now turning towards smart
cards for capturing medical records of people. These smart health cards are
typically issued by the healthcare insurance companies for better regulation of
claims and other medical practices. Using smart cards offers various advantages
for medical service providers as well as patients including the following:
Faster medical
admission procedure
Reduction in
medical frauds (misuse) and identity theft
Decrease in
document work for maintaining medical records
Reduction in the
overall medical record maintenance cost
Smart health
cards are designed to provide better data security and privacy of patients’
medical history. Additionally, it becomes easy for complying with various
government initiatives and deliver fast and secure access to critical medical
information.
For
More Reports To similar category @ http://www.credenceresearch.com/industry/pharmaceuticals-market
Competitive
Insights
The penetration
of smart cards in the healthcare sector is quite niche as compared to the other
applications of smart cards. Thus, the smart card vendors emphasize on
developing low cost and secure smart card solutions for healthcare identity.
The global smart cards market is consolidated in nature with few international
players dominating the global smart cards market.
Major players in
the market include Giesecke & Devrient (G&D) GmbH, Gemalto NV and
Oberthur Technologies. Other prominent players in the market comprise Infineon
Technologies AG, NXP Semiconductors NV, Atos SE, INSIDE Secure SA, CardLogix
Corporation and others.
Key
Trends
Development of
advanced smart cards solutions with better security and reliability
Smart health card
solution with faster medical reimbursement and lesser errors
Increased
security features by including biometric templates and digital signature of the
user
Acquisition and
partnerships with smart card manufacturers as well as component manufacturers
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