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. An increase in trends and technologies along with reduced data errors led to a rise in the growth of barcode readers 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.
Furthermore, technological advancements such as the 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 increased the use of intrusion detection systems across the globe, these systems help verify the identity of an individual and allow healthcare authorities to access the information. This further drives the healthcare barcode reader market growth.
A healthcare barcode reader is used for scanning to get accurate data and information of the patients with unique barcode tags. An increase in digitalization with the 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 their key factors such as accuracy, safety, and efficiency, which is anticipated to fuel the market growth.
Key Takeaways
- The global market study covers 20 countries. The research includes a segment analysis of each country in terms of value for the projected period.
- More than 1,500 product literature, industry releases, annual reports, and other such documents of major market industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
- The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions to achieve their most ambitious healthcare barcode reader market growth objectives.
By Type
2D segment is projected to be the most lucrative segment
Segment Overview
The healthcare barcode reader market size is segmented based on 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. Connectivity 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.
By Product Type
Fixed Barcode Reader segment will dominate the market during 2021 - 2028
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.
By Connectivity
Wired segment will maitain the lead the during the forecast period
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.
By Application
Patient Monitoring segment will grow at a highest CAGR of 14.1% during 2021 - 2028
The COVID-19 pandemic is impacting society and the overall economy across the globe. The impact of this outbreak is growing daily and affecting the supply chain. It is creating uncertainty in the stock market, falling business confidence, massive slowing of the supply chain, and increasing panic among customers. European countries under lockdowns have suffered a major loss of business and revenue due to the shutdown of manufacturing units in the region. The outbreak of COVID-19 has heavily impacted the operations of production and manufacturing industries; which has led to a slowdown in the growth of the healthcare barcode reader market in 2020.
By Region
Europe region would exhibit the highest CAGR of 13.6% during 2021 - 2028
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, has led to significant demand in industries. The emergence of COVID-19 has forced security organizations to change the way they operate. It has led to critical medical emergencies; therefore, an increase in demand for barcode readers has been witnessed in the healthcare sector as it is an effective tool for access control that allows contactless identity checks.
Key Market Dynamics
The healthcare barcode reader market is experiencing significant growth, driven by the increasing need for efficient inventory management, patient safety, and error reduction in medical settings. Barcode technology enhances the accuracy of medication administration and tracking of medical devices, leading to improved patient outcomes. Regulatory requirements and industry standards emphasize the adoption of barcode systems, fostering market expansion. Moreover, the integration of advanced scanning technologies and mobile solutions further enhances operational efficiency in healthcare facilities. As healthcare providers seek to streamline processes and enhance data accuracy, the barcode reader market is anticipated to grow at a stable rate during the forecast period.
Regional/Country Market Outlook
- North America: North America holds a significant share of the healthcare barcode reader market, driven by stringent regulatory requirements and a focus on patient safety. The region’s advanced healthcare infrastructure and high adoption rates of technology facilitate the implementation of barcode systems for improved accuracy in medication management.
- Asia-Pacific: The Asia-Pacific healthcare barcode reader market is expanding rapidly due to increasing healthcare investments and a rising emphasis on patient safety. Countries like India, South Korea, and China are witnessing significant growth in healthcare technology adoption, leading to greater demand for barcode systems in hospitals and clinics.
- Europe: Europe’s healthcare barcode reader market is characterized by strong regulatory support and a focus on quality assurance in medical facilities. The increasing adoption of electronic health records and inventory management solutions is driving demand for barcode technology, contributing to market growth across the region.
- LAMEA: The LAMEA healthcare barcode reader market is gradually evolving, driven by the growing need for efficient healthcare management systems. Investments in healthcare infrastructure, particularly in countries like Brazil and South Africa, are fostering the adoption of barcode solutions to enhance operational efficiency and patient safety.
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 readers by doctors, nurses, and medical staff 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 records and medication for proper treatment and analysis.
Advancement in Technology in Barcode Reader
New technologies in barcode readers have increased the growth of the devices like the introduction of 2D and 3D types of readers. Ease of installation and ease of handling is one of the major advancements. The development of handheld, portable, and mobile barcode readers has further increased the demand for the healthcare barcode reader market.
Report Coverage & Deliverables
This report delivers in-depth insights into the healthcare barcode reader market overview into type, product type, connectivity, application, region, and major players' key strategies. It offers detailed market forecasts and emerging trends.
Type Segment
In the healthcare barcode reader market, the segment is divided into 1D and 2D barcode readers. The 2D barcode reader segment was the largest in terms of market share, driven by its ability to store more information and its increasing adoption in healthcare settings for applications such as patient identification and medication management. As healthcare providers seek to enhance accuracy and efficiency, the demand for 2D barcode readers is expected to continue growing.
Product Type Segment
By product type, the healthcare barcode reader market is categorized into fixed barcode readers and mobile barcode readers. The fixed barcode reader segment is particularly prominent, as it is widely used in stationary applications such as point-of-care testing and inventory management. This segment’s reliability and efficiency in scanning make it a preferred choice for healthcare facilities aiming to optimize their operations.
Connectivity Segment
The healthcare barcode reader market is divided into wired and wireless connectivity options. The wired connectivity segment is the largest, favored for its stability and consistent performance in environments where real-time data transmission is crucial. Healthcare facilities often opt for wired barcode readers to ensure seamless integration with existing systems and enhance data security.
Application Segment
By application, the market is segmented into in vitro diagnostics, access tracking, surgical applications, patient monitoring, and drug dispensing. The patient monitoring segment holds the largest share, driven by the growing need for accurate tracking of patient data and medication administration. The increasing emphasis on patient safety and efficient healthcare delivery is propelling the demand for barcode readers in monitoring applications.
Regional Analysis
Regionally, the healthcare barcode reader market is studied across North America, Europe, Asia-Pacific, and LAMEA, along with its prominent countries. North America remains the leading region in the healthcare barcode reader market, supported by advanced healthcare infrastructure and widespread adoption of barcode technologies for improving operational efficiency and patient safety. As healthcare providers increasingly recognize the benefits of barcode solutions, the market in this region is expected to continue its growth trajectory.
Key Strategies and Developments
- On May 26, 2021 - Cognex launched the DataMan 8700 series, a new healthcare barcode reader designed to help professionals quickly and accurately capture barcodes on labels, wristbands, and packaging. The device features advanced algorithms for decoding challenging barcodes and is built to withstand harsh healthcare environments2.
- In November 2022 - IN Groupe introduced PhotometrixTM, a product that enables offline verification of a card’s portrait using a basic smartphone, enhancing security in healthcare card programs. This innovation allows for scalability and ease of use, setting a model for other nations to add security to their healthcare card programs1.
- On July 20, 2023 - Code Corporation announced enhancements to their barcode scanning solutions, focusing on medication administration. Their new handheld scanners are designed to capture essential medication information, reducing dosing errors and improving patient safety. These devices integrate seamlessly with electronic medical records, ensuring accurate and timely data capture.
- In April 2024 - Zebra Technologies launched the HC20 and HC50 rugged mobile computer series, equipped with top-tier enterprise features and a user-friendly design. These devices are developed for healthcare professionals across clinical and non-clinical roles, offering robust construction and advanced scanning capabilities.
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
Healthcare Barcode Reader Market Report Highlights
| Aspects | Details |
 By Type |
|
 By Product Type |
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 By Connectivity |
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 By Application |
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 By Region |
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 Key Market Players | Sato, Juniper, Zebra, Microscan, Opticon, Datalogic, Sick, Cognex, Scandit, JC Square, Wasp, Toshiba, Honeywell, NCR, Bluebird, Denso, Keyence |
Analyst Review
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.
The Healthcare Barcode Reader Market is estimated to grow at a CAGR of 12.7% from 2021 to 2028.
The Healthcare Barcode Reader Market is projected to reach $640.7 million by 2028.
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Extensive patient safety, and preventing medication errors etc. boost the Healthcare Barcode Reader market growth.
The key players profiled in the report include Honeywell, Zebra, Cognex, Sato, Toshiba, Wasp, Datalogic, and many more.
On the basis of top growing big corporations, we select top 10 players.
The Healthcare Barcode Reader Market is segmented on the basis of type, product type, connectivity, application, and region.
The key growth strategies of Healthcare Barcode Reader market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
Patient Monitoring segment would grow at a highest CAGR of 14.1% during the forecast period.
Asia-Pacific region will dominate the market by the end of 2028.
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