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Healthcare Barcode Technology Market

Healthcare Barcode Technology Market

Healthcare Barcode Technology Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

142

Base Year:

2021

Date

May - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1536

Segments Covered
  • 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
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 729.5 Million
Revenue 2028Revenue 2028: USD 1138.4 Million
Revenue CAGRRevenue CAGR (2022 - 2028): 7.70%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): North America
Customization Offered
  • 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
Healthcare Barcode Technology Market Share

Market Synopsis:

Global Healthcare Barcode Technology Market is valued at USD 729.5 Million in 2021 and is projected to reach a value of USD 1138.4 Million by 2028 at a CAGR of 7.70% 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, 2021 To 2028 (USD Million)

Market Segmentation:

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.

Below tree is interactive. You can click the nodes to get more information.

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.

Competitive Landscape:

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:

Parameter Details
Segments Covered
  • Type (Barcode Scanners, Barcode Printers, Barcode Verifiers)
  • Application (Clinical, Non-clinical)
  • Product Type (Hardware, Suppliers, Software and Services)
  • Clinical (Medication Administrative Verification, Blood Transfusion Verification, Laboratory Specimen Identification, Respiratory Therapy Treatment, Dietary Management, Gamete trackingin fertilisation)
  • Non-clinical (Supply chain Management, Receiving, Put-away and verification, Picking and internal transfer, Replenishment Ordering, Cycle Counts)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • 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.
Report Coverage 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 impact analysis

FAQ
Frequently Asked Question
  • The global Healthcare Barcode Technology valued at USD 729.5 Million in 2020 and is expected to reach USD 1138.4 Million in 2028 growing at a CAGR of 7.70%.

  • 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..

  • The market is project to grow at a CAGR of 7.70% between 2021 and 2028.

  • The driving factors of the Healthcare Barcode Technology include

    • Increase in Adoption of Barcode Readers By Medical Experts

  • North America was the leading regional segment of the Healthcare Barcode Technology in 2020.