The global medical kiosk market is anticipated to grow at a considerable CAGR of 14.5% during the forecast period (2024-2031). The market is primarily driven by the growing advancement in kiosk technology such as the Internet of Things (IoT) and Artificial Intelligence (AI) in the healthcare sector. The market growth is also supported by the adoption of health kiosks. For instance, according to HealthEC, LLC report 2021, the Alliance for Integrated Care of New York (AICNY), reported an inpatient spending decline of 6.0% throughout the year’s first three quarters. The installation of tele-triage kiosks reduced ER visits by 11.0% and hospital admissions by 7.0% in group homes for adults with intellectual and developmental disabilities. Also, 80.0% fewer patients need to go to the emergency room.
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The global medical kiosk market is segmented based on type (into analytics check-in kiosks, payment kiosks, way-finding kiosks, telemedicine kiosks, self-service/ informative kiosks, others), end-user (into hospitals, clinics, pharma stores, and other) and geographies (into North America, Europe, Asia-Pacific, and the Rest of the World).
Market Outlook and Recent Developments
- The self-service kiosk is anticipated to hold a major market share. Self-service kiosk plays a crucial role in the hospital by cutting costs by no longer utilizing paper, forms filling, and reducing paperwork. They enable self-check-ins and allow the nurses more time on patient care and less time on office work. Additionally, the increasing need for online and instant services as a result of the proliferation of touchscreen technology across the health sector has driven the growth of the market segment.
- Also, the hospitals held the Major Share, owing to the high patient volumes and, growing need to streamline workflow and reduce wait times. Furthermore, rising hospital investment in digital health technologies is fueling segment expansion.
- The Asia-Pacific region is anticipated to exhibit the fastest market growth, during the forecast period, owing to the growing investment in installation of medical kiosks across the region. In addition, the growing medical tourism in emerging economies such as China, India, and South Korea has created huge scope for the growth of the regional medical kiosk market.
- In April 2022, LordsMed, the global healthcare division of Lords Mark Industries invested $3.0 million to foray into the medtech space with the launch of health ATMs under the brand name ‘Lords Sehat’. LordsMed has collaborated with the Ministry of Railways’ PSU Braithwaite & Co and Hindustan Antibiotics Ltd (HAL) to install health kiosks in primary healthcare centers (PHCs) across India. The arrangement can also be expanded to railway hospitals in the near future, which will contribute to the growth of the global medical kiosk market.
- In March 2022, Docty planned to set up 100 digital healthcare kiosks in India, called ‘Gali Gali Me Digital Clinic’. This program is meant to help patients get timely consultation, prescriptions, electronic medical records (EMR), and pharmacy and lab services at discounted prices across more than 28 specialties.
The major players in the global medical kiosk market include Fabcon, Inc., Meridian Kiosks, VeriFone, Inc., XIPHIAS Software Technologies, and RedyRef Interactive Kiosks among others. These are contributing considerably to the market growth by the adoption of various market strategies. For instance, in January 2022, Babylon Health acquired health kiosk company Higi Health. The acquisition follows Babylon’s long-term strategy in propelling digital preventative care.
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