The Near Field Communication Market in Healthcare is estimated to surpass $278.80Million by 2023 growing at an estimated rate of more than 11.36% during 2018 to 2023 majorly driven by the introduction of new features in healthcare and by providing accuracy to tract various medical devices. Further the growing emphasis and advancement in healthcare has fueled the Near Field Communication Market.
What is Near Field Communication?
Near Field Communication (NFC) is a wireless communication standard, which enables devices in close proximity that is below 10 centimeters, to communicate through radio waves in the 13.56 MHz frequency range. The data transfer rate may vary from 106 Kbit/s to 424 Kbit/s. NFC is also known as short-range wireless connectivity and induces magnetic field that enable communication between the devices.
NFC is cost-effective and has been explored from sharing data, to commanding devices and making e-payments by interacting with other NFC enabled device or programmed NFC tags.
NFC enabled devices uses a cryptographic processor to facilitate transaction with authentication and security, and provides secure memory for storing applications and credentials.
This report incorporates an in-depth assessment of Near Field Communication market in Healthcare by applications, by products and geography.
What are the major applications for Near Field Communication in Healthcare?
The major applications of Near Field Communication in Healthcare are employee access gaining, patient check-in and check-out, prescription content, based payment, employee visitation, inventory and wrist band. Hence, near field communication technology in healthcare improves patient’s identification by eliminating paper based documentation work and increases automation and efficiency and decreases manual work. It also helps patients in reducing the burden of carrying heavy files during frequent check-ups, they can simply carry their smart tag and update it every time the health checkup is performed. Therefore, the deployment of this technology enables the various advantages and opportunities to the healthcare sector as it provides efficiency and accurate as well as reliable source of data.
Market Research and Market Trends of Near Field Communication
- Medical professionals uses NFC tags to access patients information with respect to diagnosis, treatments medical history and so on; It also keep track of every ‘entrance and exit’ of nurse and doctor to particular patient
- One of the recent trend is that NFC is used in Pakistan to study pneumonia in children and NFC is not only capable enough to track the details of patients in low resource, but also in highly regulated areas.
- One of key trends which has led to the growth of the HVAC sensors is the increasing development of Building Energy Management System.
- NFC technology which is a low-power, peer-to-peer data transport technology is being used in Samsung Galaxy smartphone commercials in which the users will tap their phones together for the means transferring data like music and video.
- NFC has growing opportunities for health care sector in the future. As, smartphone tap-to-authenticate features has become an important part of mobile health devices, which will also validate health care providers in order to interact with health IT systems.
Who are the Major Players of Near Field Communication market?
The companies referred to in the market research report includes NXP Semiconductors (Netherlands), Gentag Inc. (U.S), Omron Corporation (Japan), Intel Corporation (U.S) and Texas Instruments Incorporated (U.S).
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
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- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.