London, UK: Global Healthcare Barcode Technology Market is expected to reach US$918.09 million by 2022 supported by a CAGR of 7.9 percent during the forecast period of 2017 to 2022. Healthcare barcode technology has not only promoted the error-free data collection but has improved the patient safety. Thus, rising need to reduce medication errors and related healthcare expenditure is majorly driving the growth of this market. In addition, growing focus on patient safety, technological revolution, and rising government legislations on the use of barcode technology are expected to boost the growth of the global healthcare barcode technology market.
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The global healthcare barcode technology market is segmented by product, application, and geography. The product market is further classified into three segments, namely barcode printers, barcode verifiers, and barcode scanners. The barcode scanner segment dominated the overall market in 2016 and is also estimated to continue its dominance over the forecast period owing to their increasing adoption in the value chain of healthcare industry for accurate data collection. The barcode scanner segment is further classified into wand barcode scanner, charge-coupled device, laser barcode scanner, and image barcode scanner.
Based on application, the healthcare barcode technology market is mainly segmented into clinical and non-clinical applications. The non-clinical application segment holds the largest share in 2016, owing to the higher adoption of barcode technology in the non-clinical applications such as supply chain and inventory management.
Geographically, the global healthcare barcode technology market is segmented into five major regions namely North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. These regions are further analysed at a country level with the detailed qualitative and quantitative analysis. North America accounted for the major share in the global healthcare barcode technology market in 2016, followed by Europe and Asia-Pacific region.
The major share of the North American region is mainly attributed to the higher adoption of advanced technologies by the healthcare facilities to ensure patient safety in this region.
Asia-Pacific region is projected to grow at a faster CAGR of 9.6 percent during the forecast period, due to rising investment in improving healthcare infrastructure, growing healthcare expenditure, increasing demand for better healthcare services from large pool of patient population, and rising demand for automation in the healthcare operation to overcome the challenge of scarcity of healthcare professionals in the region.
The key players in the global healthcare barcode technology market are Zebra Technologies Corporation, Honeywell International Inc., Datalogic S.p.A., Bluebird Inc., Godex International, Code Corporation, Toshiba Tech Corporation, SATO Worldwide, JADAK Tech, Axicon Auto ID Ltd., Microscan System, Inc., Unitech Electronics Co. Ltd., and Opticon.