Healthcare Barcode Technology Market
Healthcare Barcode Technology Market - Global Industry Assessment & Forecast
- By Type Barcode Scanners, Barcode Printers, Barcode Verifiers
- By Application Clinical, Non-clinical
- By Product Type Hardware, Suppliers, Software and Services
- By Clinical Medication Administrative Verification, Blood Transfusion Verification, Laboratory Specimen Identification, Respiratory Therapy Treatment, Dietary Management, Gamete trackingin fertilisation
- By Non-clinical Supply chain Management, Receiving, Put-away and verification, Picking and internal transfer, Replenishment Ordering, Cycle Counts
- By Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
|Forecast Years:||2023 - 2030|
|Historical Years:||2017 - 2021|
|Revenue 2022:||USD 783.67 Million|
|Revenue 2030:||USD 1397.67 Million|
|Revenue CAGR (2023 - 2030):||7.50%|
|Fastest Growing Region (2023 - 2030)||Asia Pacific|
|Largest Region (2022):||North America|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request Customization Speak To Analyst
Global Healthcare Barcode Technology Market is valued at USD 783.67 Million in 2022 and is projected to reach a value of USD 1397.67 Million by 2030 at a CAGR of 7.50% over the forecast period.
The healthcare sectors emphasis to prevent medical errors, and errors can occur in any healthcare sector like medical offices, clinics, hospitals, surgery centers, and pharmacies is the major factor propelling the growth of the Healthcare Barcode Technology Market in the coming years. Moreover, growth in the focus on the patient’s safety, increasing healthcare expenditure, and technological revolution are the major factors expected to drive the growth of the global Healthcare Barcode Technology Market during the forecast period. The growth in the level of standardization across healthcare centers and hospitals are boosting the growth of the Healthcare Barcode Technology Market globally. Barcodes usually carries information about item, object or any physical system on which the barcode is inscribed. The main benefit of using barcode is that the information approved by them is exclusive for each pattern and cannot be open or edited without using programmed device, which is projected to fuel the growth and increase the demand for Healthcare Barcode Technology market in the coming years. Furthermore, the healthcare industry is going through fundamental changes to anchor safely, nimble, and more effective operational systems, this has increased the necessity for the use of barcodes across various hospitals and healthcare centers for variety of purposes in the coming years. Due to these reasons, it is projected that the global Healthcare Barcode Technology Market would experience surprising growth in the upcoming years. Whereas, development of advanced technologies in various developing and developed countries is expected to provide substantial growth opportunity for the growth of global Healthcare Barcode Technology Market in the coming years. Besides, line of sight barcode scanning is expected to hamper the growth of the Healthcare Barcode Technology Market during the forecast period.
Healthcare Barcode Technology Market Size, 2022 To 2030 (USD Million)
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The Healthcare Barcode Technology Market is segmented on the basis of product type, and application. Based on product type, the market is segmented as Barcode Scanners, Charge-coupled devices, Wand scanners, Image scanners, Laser scanners, Barcode Printers, Thermal printers, Laser printers, Ink-jet printers, Dot-matrix printers, and Barcode Verifiers. On the basis of application, the market is segmented as Clinical, Drug identification, Blood infusion safety, Specimen collection, others, Non-clinical, Replenishment ordering, Supply chain management, tracking solutions, Inventory control solutions, and others.
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Non-Clinical Segment is Projected to Acquire the Largest Share of the Market
Based on segment, the non-clinical segment is predicted to acquire the substantial share of the market during the forecast period. Nearly every back-end function can advantage from bar code execution with the appropriate planning and with the right equipment. The non-clinical bar-codes are likely adopted to increase accuracy and efficiency for the patient’s registration in the healthcare organizations, supply chain management, tracking assets, receiving orders, and inventory control. Moreover, it is also utilized to cure medication errors, which takes place during administration or transcription of medication.
Barcode Printers are Projected to Dominate the Market During the Forecast Period
Based on product type, the barcode printers’ segment is projected to dominate the Healthcare Barcode Technology Market during the forecast period. The cashless trend is fueling the demand for barcode printers during the forecast period. Peoples are adopting online money transfer methods and are also adopting various latest technologies inventing in order to perform safe procedures in hospitals, and healthcare sectors.
North America Holds the Largest Share of Market
North America region acquired the largest market share of the Healthcare Barcode Technology Market. The growth of this region is mainly attributed to the establishment of large numbers of healthcare organizations in the United States. Whereas, McKesson, is the largest healthcare company in the United States, which earns annual revenue of USD 208.3 Billion. Additionally, the United States spends more than the world’s average on the healthcare sector such as research, medical technology, and innovations. Furthermore, the demand for innovative technologies has been increasing continuously in order to confirm the patient’s safety, which is expected to drive the growth of the Healthcare Barcode Technology market in the coming years.
The key players in the market are adopting various innovative technologies and strategies for the growth of Healthcare Barcode Technology market in the coming years. Some of the major players in the market are Unitech Electronics Co. Ltd., Novanta Inc., Cognex Corporation, Bluebird Inc., JADAK, Godex International Co., Ltd., Opticon, Axicon Auto Id Ltd., Sato Worldwide, Microscan System Inc., Honeywell International Inc., Zebra Technologies, Datalogic S.P.A, Toshiba Tec Corporation, and Code Corporation..
Segmentation of Health Barcode Testing Market:
Regions & Countries Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
Frequently Asked Question
What is the global demand for Healthcare Barcode Technology in terms of revenue?
The global Healthcare Barcode Technology valued at USD 783.67 Million in 2022 and is expected to reach USD 1397.67 Million in 2030 growing at a CAGR of 7.50%.
Which are the prominent players in the market?
The prominent players in the market are Unitech Electronics Co. Ltd., Novanta Inc., Cognex Corporation, Bluebird Inc., JADAK, Godex International Co., Ltd., Opticon, Axicon Auto Id Ltd., Sato Worldwide, Microscan System Inc., Honeywell International Inc., Zebra Technologies, Datalogic S.P.A, Toshiba Tec Corporation, and Code Corporation..
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 7.50% between 2023 and 2030.
What are the driving factors fueling the growth of the market.
The driving factors of the Healthcare Barcode Technology include
- Increase in Adoption of Barcode Readers By Medical Experts
Which region accounted for the largest share in the market?
North America was the leading regional segment of the Healthcare Barcode Technology in 2022.