Healthcare smart cards to grow fastest in APAC

The region held the second-largest revenue share for the market in 2020.

The Asia Pacific is expected to witness the fastest growth for the use of smart cards in the healthcare market from 2021 to 2028, amidst a growing digitalization of healthcare systems in countries such as India, according to a report from Grand View Research.

The region held the second-largest revenue share in the market across the globe in 2020.

Globally, the market is expected to expand at a compound annual growth rate of 12.4% from 2021 to 2028, as initiatives by market players and governments of various countries for the implementation of smart cards in the healthcare system are growing.

“Furthermore, compliance with smart cards with [the Health Insurance Portability and Accountability Act], as well as [the American Recovery and Reinvestment Act of 2009], is expected to boost the market growth,” the report stated.

By product type, the contactless segment held the dominant share of over 28% in 2020 owing to its high demand globally. Based on components, the microcontroller-based smart cards segment held the largest share of more than 55% in 2020, attributed to their portability and large memory capabilities.