Market Trends of Global Medical Kiosk Industry
This section covers the major market trends shaping the Medical Kiosk Market according to our research experts:
Payment kiosk is Expected to Witness High Growth Over the Forecast Period
Payment kiosk provides complete financial solutions for hospital bill payment automation, money transfer & electronic payment self-service kiosks. Payment Kiosks is found to hold the largest share which can be attributed to the penetration of touch screen technology across various industries and rising government and private investment and Corporate Social Responsibility (CSR) activities contribute to adopting health ATMs.
The ability of hospital kiosks to accept payments using biometrics and facial recognition along with the introduction of 5G, those in charge of hospital payment kiosks will profit from the effectiveness of speedier payments and better speed. Healthcare businesses are becoming more eager to adopt digitalization, which will lead to improved payment and record-keeping efficiency and increase demand for payment kiosks in the hospital industry. Healthcare firms are able to use technology to cut costs and increase productivity and efficiency of their business models as a result of their focus on enhancing the customer experience through multiple channels, such as cashless payment kiosks coupled with 5G. For instance, according to Aila Technologies, Inc. report published in November 2019, major healthcare providers like LabCorp and Health Canada rely on Aila's Interactive Kiosk to streamline check-in, verification, and payments. According to the company's Q1 2019 earnings the survey shows the point of service an overall approval rating of 88% and a check-in rate of 94%. Accepting payments using biometrics and facial recognition through a hospital kiosk is emerging as a key trend that is likely to drive the growth of the medical Kiosk market.
North America is Expected to Dominate the Medical Kiosk Market
North America is expected to dominate the market owing to factors such as strategic presence of major players, technological advancements, and growing demand for digital health. According to the Kiosk Marketplace Census Report 2020, the United States is home to more than half of all hardware manufacturers. Due to its startup ecosystem and the quick uptake of technological solutions by local companies, North America is seen as the growth hub for innovative technology-driven enterprise business models. It is believed that this will present prospects for regional growth.
Designing digital Medical Kiosks that are usable by end users with hearing, vision, and mobility limitations has become easier owing to the Americans with Disability Act. For market participants in Medical Kiosks, improved ergonomics and accessibility to all demographic groups will continue to create new opportunity. Biometric Health Kiosk operator announces a United Kingdom-based AI chatbot Babylon Health that led a USD 30 million Series B in United States-based Higi that will develop digital assessment capabilities. Higi's kiosks allow users to measure and track metrics and has a presence within five miles of 73% of the United States population. More than 62 million people have completed over 335 million biometric assessments. With United States healthcare system is too expensive to access, these medical kiosks will make healthcare more accessible to people by providing services at these locations encouraging the growth for the regional market.
Therefore, owing to the aforesaid factors the growth of the studied market is anticipated in the North America Region.
