About Near Field Communication in Healthcare
Near Field Communication (NFC) is a wireless communication technology that allows two-way communication between two NFC-enabled devices over a short distance. The patient's medical history, medicines, and real-time sensor data can all be stored on the NFC tag, which can also be utilised as an electronic health record.Employee access, patient check-in and check-out, prescription content, based payment, employee visitation, inventory, and wristband are some of the key applications of Near Field Communication in healthcare. As a result, near field communication technology in healthcare enhances patient identification by removing paper-based documentation tasks, increasing automation and efficiency while reducing human labour. It also relieves patients of the stress of bringing hefty files to regular check-ups by allowing them to simply carry their smart tag and update it each time the health checkup is completed.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Near Field Communication in Healthcare market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Semiconductors (Netherlands), Broadcom (United States), Qualcomm (United States), Texas Instruments (United States), STMicroelectronics (Switzerland), Thales Group (Sweden), Infineon Technologies (Germany), Sony (Japan), Ams (Austria), HID Global (United States) and Avery Dennison (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Flomio(United States), MagTek(United States) and Identive(United States).
Segmentation Overview
AMA Research has segmented the market of Global Near Field Communication in Healthcare market by Type (NFC Controller ICs (Chips), NFC Tags, NFC Readers and NFC Secure Elements), Application (Medical Devices and Access Control) and Region.
On the basis of geography, the market of Near Field Communication in Healthcare has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Device, the sub-segment i.e. Smartphone & Tablets will boost the Near Field Communication in Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Device Operating Mode , the sub-segment i.e. Reader Emulation will boost the Near Field Communication in Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increases Automation and Efficiency and Decreases Manual Work and Provides Efficiency and Accurate as Well as Reliable Source of Data
Market Growth Drivers:
Growing Adoption of Wearable Technology and Improves Patient’s Identification by Eliminating Paper-Based Documentation Work
Challenges:
Lack of Awareness About the Benefits of NFC
Restraints:
Issue of Short-Range Communication and Security Concerns Related to NFC
Opportunities:
Growing Technological Advancements, Increasing Penetration of Contactless Technology and Growing Need for Connectivity Between Different Devices
Market Leaders and their expansionary development strategies
In April 2020, Infineon Technologies AG completed the acquisition of Cypress Semiconductor Corporation. With this, the company can offer its customers the industry's most comprehensive portfolio to link the real with the digital world and shape digitalization, one of the most important global trends.
In June 2020, NXP Semiconductors, Mastercard, and Xiaomi Inc. announced about bringing more convenient and secure contactless experiences to Russia as the first phase of a European-wide roll-out with NXP's mobile wallet solution. Powering mobile payments for Xiaomi's Mi Smart Band 4 NFC wearable devices, NXP's mWallet 2GO supports an accelerated roll-out across Europe by addressing OEMs' needs for easy, yet secure and scalable, wallet implementations.
Key Target Audience
Manufacturers of Near Field Communication, Suppliers of Near Field Communication, Wholesalers, Distributors and Retailers of Near Field Communication, Healthcare Industry and Regulatory Bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.