Healthcare Barcode Reader Market to Reach New Heights by 2028

The global healthcare barcode reader market size is expected to witness considerable growth, owing to increased patient safety and reduction of human errors. The healthcare barcode reader market is projected to witness significant growth in regions, such as Asia-Pacific and LAMEA, owing to increased awareness in the healthcare sector in the region. Allied Market Research, titled, “Healthcare Barcode Reader Market By Type, Product Type, Connectivity, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2028”, 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%. Asia-Pacific is expected to be the leading contributor to the global healthcare barcode reader market trends during the forecast period, followed by Europe and North America.

The healthcare barcode reader market is expected to register substantial growth in the future, owing to an increase in demand for wireless barcode readers. The primary objective of installing barcode reader devices is to provide safe and error-free medical records. Barcode reader assures error-free, efficient, and proper data and information. Reduction of medication error and healthcare-related expenditure drives the global healthcare barcode reader market growth.

Furthermore, the rise in the need for barcode reader equipment, such as 1D, and 2D is expected to provide growth opportunities for the market. Technological advancements in the barcode reader may favorably impact market growth over the coming years. Many countries have increased spending on new barcode reader equipment.

The 2D type segment was the largest revenue contributor in 2019 and is expected to grow at a CAGR of 13.1% from 2020 to 2027. This is attributed to the fact that 2D barcode readers contain more information and have been in demand over the past few years. Wireless barcode readers are estimated to grow at the highest CAGR of 13.7%, owing to portability and easy access in the healthcare facility. The fixed barcode reader held the largest market share in 2019 and is expected to dominate the market in 2027. Drug dispensing application was the highest revenue contributor in 2019, owing to the adoption of healthcare barcode readers in various pharmaceutical stores and hospitals.