The global medical kiosk market was valued at USD 1.3 billion in 2021 and it is predicted to surpass around USD 4.2 billion by 2030 with a CAGR of 13.92% from 2022 to 2030
The growth is driven by factors such as improved customer experience and increased demand for self-service in hospitals and clinics. Furthermore, innovations in touchscreen displays and streamlining of various hospital processes such as bill payments, and patient registration are propelling the industry’s growth.
Digital health ATMs are associated with increased productivity and reduced wait time. It provides patients with highly secure and individualized access. It offers smooth integration between a back-end office and a patient's access to electronic health care records, which is boosting the market growth. Apart from this, increasing focus on startup funding, mergers, and acquisitions are anticipated to bode well with the market. For example, in January 2022, Babylon Health acquired Higi Health, an emerging player in the health kiosk industry, to support a fundamental healthcare delivery transformation.
The COVID-19 pandemic has altered the manner of interaction, as end-users are now more concerned with safety and virus prevention. Consequently, consumers have gravitated toward the adoption of health ATMs owing to their role in infection prevention, particularly in healthcare facilities. In several nations, self-service kiosks are used to make the medical environment safe and secure.
As a result of COVID-19, funding for telehealth kiosks has increased. Under the Coronavirus Aid, Relief, and Economic Security Act, the U.S. federal government has allocated USD 200 million to help health care providers expand telehealth services by offsetting the cost of providing these services. According to the Federal Communications Commission, the government has approved 539 applications for funding in 47 states and Washington, D.C. in 2020. As a result, numerous organizations are developing a new strategy that incorporates digitization, which is anticipated to stimulate the expansion of the market.
Scope of The Report
|Market Size in 2021||USD 1.3 billion|
|Revenue Forecast by 2030||USD 4.2 billion|
|Growth rate from 2022 to 2030||CAGR of 13.92%
|Forecast Period||2022 to 2030|
|Segmentation||Type, location, region
|Companies Covered||Olea Kiosks Inc.; Fabcon, Inc.; Meridian Kiosks; XIPHIAS Software Technologies; RedyRef Interactive Kiosks; imageHOLDERS; KIOSK Information Systems; Frank Mayer and Associates, Inc.; Kiosks4business Ltd.; DynaTouch Corporation|
The self-service kiosk segment held the dominant revenue share in 2021. The segment growth is expected to be driven by the increasing demand for online and instant services due to the penetration of touch screen technology across various industries. Furthermore, a positive response from consumers to self-service technologies is propelling the segment growth.
The telemedicine kiosk segment is anticipated to register the highest CAGR during the forecast period. They are expected to become an integral part of healthcare systems and programs in the coming years. It allows healthcare professionals to use communication technology to treat patients remotely. They can reduce patient treatment costs and unnecessary hospital visits and waiting times.
The payment kiosk segment is projected to witness significant growth during the forecast period. Acceptance of payments using biometrics and facial recognition through hospital kiosks has emerged as an important trend driving the growth of the segment. Furthermore, with the advent of 5G, hospitals will be able to process payments faster.
Based on location, the market is segmented into, hospitals, specialty clinics, pharmacies, and others. The hospitals segment accounted for the major portion of the market in 2021. High patient volumes and the increasing need to optimize workflow and reduce wait times are likely to favor the segment growth. Furthermore, increasing investment from hospitals in digital health technologies is augmenting the segment growth.
The specialty clinics segment is projected to witness considerable growth during the forecast period. The segment includes clinics such as sexual health and cancer clinics, where patients are referred from primary care and hospital department outpatient clinics. EDs are acute care centers, including accidents and EDs within hospitals. According to a study published in NCBI, sexual health was the most frequent condition handled by kiosks installed in specialty clinics. It isfollowed by breastfeeding, cancer, chronic kidney disease, HIV, mental health, and others.
The others segment is anticipated to witness significant growth during the forecast period. It includes locations such as corporate offices, supermarkets, academic institutions, bus & railway stations, and others. Increasing installations in public places to improve accessibility and the growing number of public-private partnerships are major factors fuelling the growth of the segment.
North America held the largest revenue share in 2021. This is due to the strategic presence of major players, technological advancements, and growing demand for digital health. According to the 2020 Kiosk Marketplace Census Report, more than 50% of hardware manufacturers are based in the U.S. North America is regarded as the growth center for new technology-driven enterprise business models due to its start-up ecosystem and the rapid adoption of technology solutions by regional players. This is anticipated to provide growth opportunities in the region.
Europe accounted for the second largest market share in 2021. The rising prevalence of chronic diseases, strong government support, and increasing demand for virtual consultations are poised to surge the market. This region's robust economy is one of the primary reasons for implementing kiosk technology and its various applications.
Asia Pacific is expected to be the fastest-growing regional industry owing to the increasing government investment in IT infrastructure and the growing number of digital health startups in the region. For instance, in September 2021, Fullerton Health, a provider of enterprise healthcare solutions, launched a telemedicine kiosk to support migrant workers in Singapore. This medical kiosk automatically dispenses medicines to users after the doctor signs the prescription in a remote consultation.
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