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2021
Healthcare Barcode Reader Market

Healthcare Barcode Reader Market

By Type (1D and 2D), Product Type (Fixed Barcode Reader and Mobile Barcode Reader), Connectivity (Wired and Wireless), and Application (In Vitro Diagnostics, Access Tracking, Surgical, Patient Monitoring, and Drug Dispensing): Global Opportunity Analysis and Industry Forecast, 2021-2028
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Report Code: A11332
Pages: 309
May 2021 | 2129 Views
Author(s) : Sachin Wankhede , Vineet Kumar
Tables: 200
Charts: 85
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Healthcare Barcode Reader Market Outlook – 2028 

The global healthcare barcode reader market size was valued at $260.9 million in 2019, and is projected to reach $640.7 million by 2028, registering a CAGR of 12.7% from 2021 to 2028. Barcode reader is a device that helps in extracting the information and data from the barcode, and transmits it to the computer in a hospital or healthcare facility. It allows individuals to access classified information and data. Increase in trends and technologies along with reduced data errors led to rise in the growth of barcode reader in healthcare. The barcode reader has a significant adoption rate in healthcare due to its advantages such as increased patient safety and reduction of human error.

Mobile Barcode reader segment impacted positively, due to COVID - 19.

Furthermore, technological advancements such as use of internet connectivity have enabled real-time surveillance at remote and critical locations with enhanced accuracy. These devices are cost-effective and help reduce errors. Moreover, easy integration has resulted in increase in use of intrusion detection systems across the globe, these systems help verify the identity of an individual and allow healthcare authority to access the information. This further drives the healthcare barcode reader market growth. 

Healthcare-Barcode-Reader-Market-2021-2028

Healthcare barcode reader is used for scanning to get accurate data and information of the patients with unique barcode tags. Increase in digitalization with penetration of advanced technologies is expected to drive the growth of the healthcare barcode reader market. The barcode reader systems have a significant adoption rate in healthcare due to its key factors such as accuracy, safety, and efficiency, which is anticipated to fuel the market growth. 

Healthcare Barcode Reader Market
By Type

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2D segment is projected to be the most lucrative segment

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Segment Overview

The healthcare barcode reader market size is segmented on the basis of type, product type, connectivity, application, and region. By type, the healthcare barcode reader market is divided into 1D and 2D. By product type, it is categorized into fixed barcode reader and mobile barcode reader. By connectivity, it is divided into wired and wireless. By application, it is segmented into in vitro diagnostics, access tracking, surgical, patient monitoring, and drug dispensing. By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA along with its prominent countries.

Healthcare Barcode Reader Market
By Product Type

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Fixed Barcode Reader segment will dominate the market during 2021 - 2028

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Competitive Analysis 

The key players profiled in the healthcare barcode reader industry include Honeywell, Zebra, Cognex, Sato, Toshiba, Wasp, Datalogic, Scandit, Juniper, Bluebird, Denso, NCR, Opticon, Sick, Microscan, JC Square, and Keyence. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance their barcode reader market forecast and penetration.

Healthcare Barcode Reader Market
By Connectivity

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Wired segment will maitain the lead the during the forecast period

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COVID-19 Impact Analysis

The ongoing spread of COVID-19 has become one of the biggest threats to the global economy and is causing widespread concerns and economic hardship for consumers, businesses, and communities across the globe. The “New Normal” that includes social distance and working from home has created challenges with daily activities, regular work, needs, and supplies, causing delayed initiatives, and missed opportunities.

Healthcare Barcode Reader Market
By Application

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Patient Monitoring segment will grow at a highest CAGR of 14.1% during 2021 - 2028

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The COVID-19 pandemic is impacting the society and overall economy across the global. The impact of this outbreak is growing day-by-day as well as affecting the supply chain. It is creating uncertainty in the stock market, falling business confidence, massive slowing of supply chain, and increasing panic among customers. European countries under lockdowns have suffered a major loss of business and revenue due to shutdown of manufacturing units in the region. Operations of production and manufacturing industries have been heavily impacted by the outbreak of COVID-19; which has led to slowdown in growth of the healthcare barcode reader market in 2020.

Healthcare Barcode Reader Market
By Region

2028
Asia-pacific 
North America
Europe
Lamea

Europe region would exhibit the highest CAGR of 13.6% during 2021 - 2028

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According to the healthcare barcode reader market analysis, COVID-19 has severely impacted the global manufacturing and industrial sector as production facilities have stalled, which, in turn, have led to significant demand in industries. Emergence of COVID-19 has forced the security organizations to change the way they operate. It has led to critical medical emergency; therefore, increase in demand for barcode readers has been witnessed from the healthcare sector as it is an effective tool for access control that allows contactless identity checks. 

Top Impacting Factors

The factors that drive the growth of the healthcare barcode reader market share include extensive patient safety and preventing medication errors.

Barcode technology has a significant share in the market, owing to several choices available to the consumer such as 1D and 2D. To maintain the medical records and medication of the patient, also increasing need of security and safety is boosting the healthcare barcode reader globally.

Increase in Adoption of Barcode Readers By Medical Experts 

Widespread use of barcode reader by doctors, nurses, and medical staffs to improve safety and maintain error-free records drives the global healthcare barcode reader market growth. Hospitals and medical institutes are installing barcode reader devices for checking and maintaining patient’s record and medication for proper treatment and analysis.

Advancement in Technology in Barcode Reader

New technologies in barcode reader have increased the growth of the devices like introduction of 2D and 3D type of readers. Ease of installation and ease of handling is one of the major advancements. Development of handheld, portable, and mobile barcode readers has further increased the demand for the healthcare barcode reader market.

Key Benefits For Stakeholders

  • This study includes the analytical depiction of the healthcare barcode reader market forecast along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information regarding the key drivers, restraints, and opportunities in the healthcare barcode reader market.
  • The healthcare barcode reader market trends are quantitatively analyzed from 2019 to 2028 to highlight the financial competency of the industry.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Healthcare Barcode Market Key Segments

By Type

  • 1D
  • 2D

By Product Type

  • Fixed Barcode Reader
  • Mobile Barcode Reader

By Connectivity

  • Wired
  • Wireless

By Application

  • In Vitro Diagnostics
    • Pre-analytical 
    • Analytical 
  • Access Tracking
    • Medical 
    • Industrial 
  • Surgical
    • Tracking 
    • Navigation 
    • Visualization
  • Patient Monitoring
  • Drug Dispensing

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Market Players

  • Honeywell 
  • Zebra 
  • Cognex
  • Sato
  • Toshiba
  • Wasp
  • Datalogic
  • Scandit
  • Juniper
  • Bluebird
  • Denso
  • NCR
  • Opticon
  • Sick
  • Microscan
  • JC Square
  • Keyence
 

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The healthcare barcode reader market is witnessing significant growth, owing to reduction of human error-assisted security paired with rise in investments by government and healthcare sector.

Healthcare barcode reader vendors, who have access to extensive technical and financial resources, are anticipated to gain a competitive edge over their rivals, as they have the capacity to cater to the market requirements. The competitive environment in this market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by key vendors.

The barcode reader market is expected to witness a significant growth with increase in adoption from healthcare sector to improve operations efficiency in different geographical regions. Technological advancements have augmented the overall industrial development to ascertain safety and maintain error-free records and gain operations efficiency.

Asia-Pacific is projected to dominate the market during the forecast period, due to increase in infrastructure.  The digitization particularly in India and China is also opening several growth opportunities for the barcode reader market. Furthermore, increase in adoption of barcode reader in the healthcare sector, reduction of errors, cost-effectiveness, and ease of these devices drive the growth of the healthcare barcode reader market in this region.

The healthcare barcode reader market provides numerous growth opportunities to the players such as Honeywell, Datalogic, Cognex, and more.

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FREQUENTLY ASKED QUESTIONS?

A. The Healthcare Barcode Reader Market is estimated to grow at a CAGR of 12.7% from 2021 to 2028.

A. The Healthcare Barcode Reader Market is projected to reach $640.7 million by 2028.

A. To get the latest version of sample report

A. Extensive patient safety, and preventing medication errors etc. boost the Healthcare Barcode Reader market growth.

A. The key players profiled in the report include Honeywell, Zebra, Cognex, Sato, Toshiba, Wasp, Datalogic, and many more.

A. On the basis of top growing big corporations, we select top 10 players.

A. The Healthcare Barcode Reader Market is segmented on the basis of type, product type, connectivity, application, and region.

A. The key growth strategies of Healthcare Barcode Reader market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.

A. Patient Monitoring segment would grow at a highest CAGR of 14.1% during the forecast period.

A. Asia-Pacific region will dominate the market by the end of 2028.

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