About Healthcare Barcode Technology
Healthcare industry is emphasizing on patient safety and care for which the doctors, nurses, and staffs aim to improve every day. Healthcare barcode technology helps streamline the patient admittance process, track medication and care admission, and identify patients throughout their entire stay. It is also used in the healthcare supply chain in functions that involve shipping and handling. However, there is a movement underway to expand the use of barcodes at a micro level that will create significant effects on the entire supply chain.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 20.3% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Healthcare Barcode Technology market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Zebra Technologies (United States), Bluebird Inc. (South Korea), Scandit AG (Switzerland), Code Corporation (United States), Honeywell International (United States), Datalogic (Italy), General Data Company, Inc. (United States), Accusoft (United States) and Omron Microscan (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Opticon (Netherlands) and Toshiba Tec Corporation (Japan.
Segmentation Overview
AMA Research has segmented the market of Global Healthcare Barcode Technology market by Type (Barcode Printers, Barcode Verifiers, Barcode Scanners and Other), Application (Clinical Applications and Non-Clinical Applications) and Region.
On the basis of geography, the market of Healthcare Barcode Technology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End-user, the sub-segment i.e. Hospitals will boost the Healthcare Barcode Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Hardware will boost the Healthcare Barcode Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Development of Innovative Technologies in Barcode Scanners and Verifiers
Market Growth Drivers:
Increased Use of Barcode and Automation Technologies to Decrease Incidence of Medical Errors and Demand for Barcode Technology for Increased Patient Safety, Identification, and Improve Operational Efficiency
Challenges:
High Cost of Barcode Solutions and Software May Challenge the Market
Restraints:
Inclination towards the RFID Due to Security Concern
Opportunities:
Increased Focus on Patient Safety in US Hospitals Will Create Huge Demand
Market Leaders and their expansionary development strategies
In March 2022 Zebra Technologies an innovator at the front line of business with solutions and partners that deliver a performance edge, today announced it intends to acquire Matrox Imaging a proven developer of advanced machine vision components and systems. This acquisition further expands Zebra’s offerings in the fast-growing automation and vision technology solution space. Last year, Zebra introduced its fixed industrial scanning and machine vision portfolio and acquired Adaptive Vision and Fetch Robotics.
In March 2021, Code Corporation, a global leader in barcode scanning and data capture technologies announced the partnership with four companies Dryrain Technologies, MEDITECH, and ACS MediHealth for mobile medical barcode scanning. The app will help healthcare service providers to address issues caused by inaccurate transcriptions, such as medication errors, and increases efficiency, accuracy, and speed in healthcare with mobile barcode scanning.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Healthcare Barcode Technology Providers, Healthcare Barcode Technology Manufacturers & Suppliers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.