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The history of smartcards in healthcare dates back at least to the
late 1990s. At that time, the French government began to offer each patient a
small plastic card containing a microchip. Each patient then carries around his
or her SmartCard. It serves as a virtual keypad on which to enter healthcare
information.
Smartcards and their associated software have been around since
the time they were first introduced. However, as more healthcare companies
became aware of the benefits they could see in implementing them into their
business and the advantages they provided, they began to use them themselves.
Today, nearly every hospital, doctor's office, pharmacy, nursing home, and
other facility have some form of smart card or microprocessor smart card in
use. A smart card is simply a magnetic strip that is used to make transactions
from one place to another.
Market Dynamics
Increasing healthcare expenditure is expected to propel growth of
the smart cards in healthcare market. For
instance, according to The Centers for Medicare & Medicaid Services, the
U.S. health spending is projected to reach nearly US$ 6.0 trillion by 2027.
Moreover, emergence of Covid-19 has prompted several countries to develop
vaccination proofing plans, which is also expected to aid in growth of the
market. Digital credentials are expected to play a major role in management of
the pandemic. For instance, in July
2020, the Macao government issued contactless prepaid payment cards pre-loaded
with credit in order to mitigate the economic impact of the COVID-19 pandemic
and to provide financial support to its citizens. The cards were produced by
G+D Mobile Security.
Increasing healthcare digitalization is expected to offer lucrative
growth opportunities for players in the smart cards in healthcare market. For
instance, the survey, ‘Taking the Pulse of Digital Transformation in Healthcare
– South East Asia’, conducted by InterSystems Corporation, concluded that
majority of private hospitals in Asia expect to implement real-time big data
analysis capabilities over the next five years. Moreover, statistically, this
share is expected to increase from 13% of hospitals currently to 69% in five
years.
Competitive Analysis
Major players operating in the global smart cards in healthcare
market include, American Express Company, Giesecke & Devrient (G&D),
Gemalto NV, INSIDE Secure SA, VeriFone Holdings, Inc., Atos SE, CardLogix
Corporation, GmbH, Infineon Technologies AG, Oberthur Technologies SA, and SCM
Microsystems.
August 2020: Giesecke & Devrient and Netcetera entered the
strategic partnership under which, G+D will become a shareholder of the Swiss
company with its investment.
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