Emergence of Cashless Payment Platforms Bolsters Rapidly Growing Health Kiosk Market, TMR Study
Adoption of cashless payment platforms such as Android Pay and Apple Pay is revolutionizing the health kiosk market in an era where using credit and debit cards is the widely accepted culture. It helps patients avoid the tiresome and time consuming process of looking for ATM machines and cash withdrawal facilities in their proximity. Integration of this cashless payments trend along with emerging technologies such as 5G telecommunications is expected to drive the market in coming years. However, confidential data security-related risks that emerge with extended utilization of digital technologies can hamper the market growth in coming years.
Health kiosk market provides technology enabled devices to assist patients in multiple ways. Check-in kiosks in hospitals and clinics can help patients quicken the tedious process of checking into a healthcare facility. Wayfinding kiosks enables them to find their way among massive medical facilities. Payment kiosks streamline the process of paying the healthcare professionals and allowing patients to complete their payment without looking for cash or waiting in lines. Electronic medical record management kiosks present a huge opportunity for industry players for fast tracking the process of centralizing medical records of patients. Growing popularity of portable diagnostic kiosks is expected to boost the global health kiosk market in near future.
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Integration of Newer Technologies Expected to Boost the Health kiosk market
Manufacturers and industry players are focused on integrating new and sophisticated technologies that will enable healthcare facilities and patients to bypass the time consuming and tedious administrative processes such as checking in, searching through patient health records manually, and navigate massive medical facilities with relative ease. Integration of futuristic technologies such as Internet of Things (IoT), 5G telecommunications, and Artificial Intelligence (AI) is pivotal in growing global health kiosk market. For example, Xiphias Group introduced a self-checkout kiosk in June of 2019 that integrates IoT technology to offer enhanced communication between patients and medical professionals. Some of the major players in global health kiosk market include Zivelo, Olea Kiosk Inc., Diebold Nixdorf, Inc., Fabcon, Inc., NCR Corporation, Kiosk Information Systems, Glory Ltd., Meridian Kiosks, and JCM Global.
Remote Health Diagnostic Kiosk – Medicines On-the-Go
The health kiosk market is expected to witness exponential growth at a staggering CAGR of ~18% through 2019-2027. In 2018, the market recorded sales of ~432 thousand units, reaching a valuation of ~US$ 474 million, and with increasing digitalization in the healthcare industry, the health kiosk market is set to grow 4x by 2027. Portable diagnostic kiosks are gaining immense popularity, as they enhance user experience, allow patients to administer tests on themselves, and send feedback to doctors for early diagnosis and prognosis.
The impact of a remote health diagnostic kiosk on the market space is advantageous, and a key growth factor for manufacturers who want to carve a niche for themselves. Health kiosks that are connected to cloud-based servers and store critical patient are growing in popularity across the healthcare industry. This functionality is integrated with pharmacies who act instantaneously and prescribe medicines on the basis of authentic prescriptions and timely payments. Insights gained from such a robust functionality is increased patient-doctor engagement, efficient hospital administration, and a time-saving and cost-effective strategy for emerging market players in the health kiosk landscape.
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