Trends and Market Reports
Periodically we have to take a look at the market reports out on the internet claiming to be intelligence. Most of these originate in Pune, India and are internet scrapes.
Generally they will try and “get you” for $4000 and up. Marketing and Sales VP are the “easy marks”. They tend to crave credibility and bigger numbers than ever.
Let’s take a look.
Typical intro — Navigating the complex and rapidly evolving world of xxxxxx technology is essential for any senior business executive looking to stay ahead in this sector. Our rigorous and forward-thinking xxxxx xxxx market research report delivers valuable insights you need to ensure your business remains at the forefront of this dynamic industry.
Harnessing cutting-edge touch screen technology and incorporating the latest developments in digital health, medical kiosks are transforming interactions between healthcare providers, clinicians, and patients. Increasing adoption of these medical stations, ranging from check-in kiosks to specialty application kiosks, underlies the robust growth predicted in the global medical kiosk market. This report offers an in-depth analysis of key market trends, industry leaders, and regional dynamics, providing an invaluable resource to any player or stakeholder in the medical kiosk industry – or the wider healthcare sector – seeking to inform their strategic decisions and forecasting.
The global medical kiosk market has grown rapidly in recent years. It will grow from $1.46 billion in 2023 to $1.71 billion in 2024 at a compound annual growth rate (CAGR) of 16.9%. The growth observed in the historical period can be linked to various factors such as heightened patient engagement, endeavors to reduce healthcare costs, empowerment of patients, government-led initiatives, effective management of chronic diseases, modernization of healthcare facilities, and an overall increase in patient volume.
The global medical kiosk market is expected to see rapid growth in the next few years. It will grow to $3.26 billion in 2028 at a compound annual growth rate (CAGR) of 17.6%. Anticipated growth in the forecast period is expected to stem from the expansion of telemedicine, the advancement of personalized healthcare, heightened focus on data security, improved access to healthcare in rural areas, integration of health monitoring systems, the impact of a globally aging population, and shifts in healthcare policies. Key trends projected for this period encompass patient self-service and empowerment, increased emphasis on data security and compliance, adoption of touchless interfaces and sanitation measures, integration with electronic health records (EHR), tailoring services for diverse healthcare environments, and the expansion of service offerings.
[Note companion report for overall kiosk industy pegs it at 26B growing to 43B BY 2028 WITH 8.71 cagr — Healthcare is noted as 2.32B this year]
The projected surge in digital health adoption is anticipated to drive the growth of the medical kiosk market. Digital health encompasses a broad concept that integrates technology and healthcare through software, hardware, and services, fostering digital transformation in the healthcare sector. Within this scope, medical kiosks represent electronic units that digitize health records, particularly self-service kiosks handling electronic health records (EHRs) without reliance on paper. Notably, a research survey conducted by the American Medical Association revealed a significant uptick in physicians’ adoption of digital tools, rising from 2.2 in 2016 to 3.8 in 2022, cutting across gender, specialty, and age. Hence, the upsurge in digital health adoption fuels the expansion of the medical kiosk market.
Actually a bit of nugget in the AMA report which is legitimate — Here is the PDF.
Let’s look at the Companies
The penetration of touch screen technology stands as a significant trend within the medical kiosk market. Key industry players are incorporating touch screen technology – electronic visual displays that detect touch presence, typically by hand or finger – into their medical kiosk systems. For instance, Advantech introduced the UTK-752 in August 2020, featuring a 21.5-inch interactive modular touchscreen. This modular solution harnesses robust computing performance via its fanless 6th generation Intel Core i5-6300U processor and up to 16GB of DDR3L memory. The UTK-752 serves various self-service applications, including self-checkout, self-registration, queue management, and virtual reception, exemplifying the application of touch screen technology in advancing medical kiosk capabilities. [wow.. 6th generation? Intel is currently on 14th generation thank you very much]
Major companies in the medical kiosk market are innovating their kiosk offerings to gain a competitive edge, particularly for corporate use. For instance, Qmed Asia unveiled Qmed GO in August 2022, an internet-enabled clinical kiosk aimed at promoting employee well-being and healthcare affordability. Qmed GO integrates interactive telehealth capabilities, facilitating video consultations and remote patient management in collaboration with local practitioners. These mini clinics aim to reduce employee medical coverage overheads, providing essential healthcare services through three versions – Qmed GO, Qmed GO Plus, and Qmed GO Lite. Equipped with medical IoT devices, these kiosks monitor up to 16 vital parameters, sync data to the cloud for medical records, and prioritize affordability, accessibility, and safety in healthcare delivery.
In December 2022, Babylon, a prominent UK-based digital healthcare firm, finalized the acquisition of Higi Health, the details of which were not disclosed. This strategic move allowed Babylon to integrate its robust technology platform with Higi’s remote monitoring abilities, enabling a comprehensive transformation of healthcare touchpoints. Higi Health, a US-based consumer health company, specializes in home health technologies and operates within the medical kiosk market.
Major companies operating in the medical kiosk market report are
- Olea Kiosks Inc.,
- Fabcon Inc., – fab house
- Meridian Kiosks, – healthcare not their deal
- XIPHIAS Software Technologies Pvt. Ltd., – India — throw everything at the wall and see what sticks
- REDYREF Interactive Kiosks,
- KIOSK Information Systems,
- FMA — hard to find anything but renderings/POCs
- Kiosks4business Ltd., – small UK outfit – mainly small hotels in Europe
- DynaTouch Corporation,
- Pyramid Computer GmbH,
- Nanonation Inc., — not a major market for them
- Zebra Technologies Corporation, — scanners
- AU Optronics Corp., — digital signage LCDs
- Diebold Nixdorf Inc., — nope
- NCR Voyix Corporation, — nope
- LamasaTech Ltd., — very few kiosks UK based
- Lilitab LLC, — nice tablets
- Parabit Systems Inc., — healthcare seems very small for them.
- Qwick Media Inc., – small boutique firm in Canada
- JCM American Corporation, – cash and currency
- Advantech Co. Ltd., — embedded computing
- Cammax Limited,
- Elo Touch Solutions Inc.,
- Embross North America Ltd.,– airports
- Honeywell International Inc., (they do scanners)
- Samsung Electronics Co. Ltd., (digital signage)
- ZIVELO Inc., — kaput many years ago
- VeriFone Inc., — almost out of qsr kiosk biz
- Clearwave Corporation –like to say ADA compliant but nowhere near
- Healthware Systems — they don’t do kiosks at all
Those are basically kiosk companies in one fashion or another being listed. Here are some notes:
- Companies designing, manufacturing and installing product are bolded
- Do they have any real pictures of real deployments, are just renderings?
- ZIVELO no longer exists and Verifone is selling their IP and moving on to just CC terminals
- Fabcon for example is fabrication house not unlike SanMina or Flex
- Embross is airlines and totally out of place here.
- JCM is cash handling.
- Seems like they did scrape a bit from us.
Observations
- These reports totally ignore assistive technology vendors such as Storm Interface, Vispero, Dolphin and others
- Even printer manufacturers get left out. Custom makes a nice ethernet wide printer that is often used in Epic Welcome]
- Anybody notice the zero mention of Vecna and the VA?
- MyHealthevet never mentioned
- Don’t waste your money. These are basically a high tech grift. You may as well buy cryptocurrency while you are at it.
From AMA 2022 Report
The AMA Digital Health Research surveyed 1,300 physicians in three regular intervals between 2016 and 2022 to investigate physician motivations and requirements for integrating digital health tools into their practices. According to the AMA survey, the following adoption trends among physicians are helping to propel the digital transformation of health care:
- There has been an increase in the percentage of physicians that feel there are advantages in leveraging digital health solutions. The percentage of physicians who feel digital health tools are an advantage for patient care grew from 85% in 2016 to 93% in 2022, and increases were measured across all physicians irrespective of age or specialty.
- Adoption of digital tools has grown significantly among all physicians regardless of gender, specialty, or age. The average number of digital health tools in use by a physician grew from 2.2 in 2016 to 3.8 in 2022.
- Improved clinical outcomes and work efficiency are the top factors influencing physician interest in digital health tools. The ability to help reduce stress and burnout has also gained importance as a key driver of digital tool adoption. Liability coverage remains the most important requirement for physician adoption of digital health tools followed by integration with their EHR and assurances for data privacy.
- The largest growth in adoption was among digital health tools that aid in remote care. The percentage of physicians using tele-visits/virtual visits grew from 14% in 2016 to 80% in 2022 while the percentage of physicians using remote monitoring devices grew from 12% in 2016 to 30% in 2022.
- The digital health tools that garner the most enthusiasm among physicians are tele-visits (57%) followed by remote monitoring devices (53%).
- Intentions are high for the future adoption of emerging technologies, but current usage is low.
- Two in 5 physicians plan to adopt augmented intelligence in the next year, while nearly 1 in 5 physicians are currently using augmented intelligence in their practices. While current usage of digital therapeutics is low, they have the highest percentage of planned incorporation in the future.