The global near field communications market is expected to register a CAGR of 17.5% during the forecast period, 2018 to 2023. North America dominates the market due to the increased volume of mobile/contactless payments and increasing demand for home based monitoring.
Near Field Communications is a short-range, low-power communications protocol between two devices. One device, the initiator, uses magnetic induction to create a radio-wave field that the target can detect and access, allowing small amounts of data to be transferred wirelessly over a relatively short distance. NFC is now gaining traction in the healthcare industry, and has caught the eye of various medical device manufacturers for use in their products.
Exponential penetration of smartphones usage globally
Driving the push toward utilizing smartphones in healthcare settings, is the refinement of NFC. NFC is a short-range, wireless connection standard that allows devices to communicate when they're simply brought within a few inches of each other. NFC is an extremely simple and convenient technology, as data exchange can be done by just bringing two NFC enabled devices together. NFC-assisted mobile health monitoring, which applies to the prevailing mobile communication methods and cloud, to provide feedback decision support, has been considered a revolutionary approach to improving the quality of healthcare service, while lowering healthcare cost. Rise in near field communication enabled communication systems which is the innovative technology that makes secure transactions and exchanged digital content by mobile.
Additionally, growth of the home healthcare and remote patient monitoring equipment and decreasing cost of this technology.
Lack of proper long-range communication
Near field communication is one of the highest-growing healthcare-related services, the usage is limited to device-device pairing, especially in portable imaging devices, and is not efficient enough for huge data transfer. Since the data transfer speed is low, the usage of this technology is not applicable to media streaming applications in healthcare, such as, tomographic imaging, digital pathology, etc. This disadvantage with the technology is one of the major restraints for its growth in the market. Although, security level increases with the technology, the short-range is limited to 10 cm, which is also a major drawback.
Additionally, lack of awareness among the healthcare personnel and scepticism for industry experts and leaders.
North America to Dominate the Market
Near field communications in healthcare market, is segmented on the basis of operating mode, application, and by end-user. By operating mode, it is segmented into - reader/ writer mode, card emulation mode and peer-to-peer mode. By application it is segmented into - medical devices, payment, identity and access tokens, and social networking. By end-user it is segmented into -healthcare organizations, pharmaceuticals, biotechnology and others. By geography it is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa and South America.
North America dominated the near-field communications in healthcare market due to the demand of NFC-enabled devices and rise in mobile/contactless payments.
Key developments in the market
June 2017: Agreement between Qualcomm and Lifescan Inc. a Johnson & Johnson Diabetes Care Company to capture the data from the diabetic patient from the Lifescan's One Touch Verio Flex blood glucose meter and transfer it to the physicians.
Key Players: QUALCOMM, SONY, TEXAS INSTRUMENTS, IMPAK HEALTH NEDAP, GENTAG, OMRON HEALTHCARE, QOLPAC, A&D COMPANY and NXP SEMICONDUCTORS.
Reasons to purchase this report
Current and future Near Field Communication outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter's five forces analysis
The treatment type that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet in excel.
Customization of the report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
Table of Contents
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. KEY INFERENCES
5. MARKET OVERVIEW
- 5.1 CURRENT MARKET SCENARIO
- 5.2 PORTER'S FIVE FORCES
- 5.2.1 BARGAINING POWER OF SUPPLIERS
- 5.2.2 BARGAINING POWER OF CONSUMERS
- 5.2.3 THREATS OF NEW ENTRANTS
- 5.2.4 THREAT OF SUBSTITUTE PRODUCT AND SERVICES
- 5.2.5 COMPETITIVE RIVALRY WITHIN THE INDUSTRY
6. DRIVERS, RESTRAINTS, OPPORTUNITIES AND CHALLENGES ANALYSIS (DROC)
- 6.1 MARKET DRIVERS
- 6.1.1 EXPONENTIAL PENETRATION OF SMARTPHONES USAGE GLOBALLY
- 6.1.2 GROWTH OF THE HOME HEALTHCARE AND REMOTE PATIENT MONITORING EQUIPMENT
- 6.2 MARKET RESTRAINTS
- 6.2.1 LACK OF PROPER LONG-RANGE COMMUNICATION
- 6.2.2 LACK OF AWARENESS AMONG THE HEALTHCARE PERSONNEL
- 6.3 OPPORTUNITIES
- 6.4 KEY CHALLENGES
7. MARKET SEGMENTATION
- 7.1 BY OPERATING MODE
- 7.1.1 READER/ WRITER MODE
- 7.1.2 CARD EMULATION MODE
- 7.1.3 PEER-TO-PEER MODE
- 7.2 BY APPLICATION
- 7.2.1 MEDICAL DEVICES
- 126.96.36.199 PATIENT MONITORING
- 188.8.131.52 MEDICAL IMAGING
- 184.108.40.206 THERAPEUTIC DEVICES
- 7.2.2 PAYMENT
- 7.2.3 IDENTITY AND ACCESS TOKENS
- 7.2.4 SOCIAL NETWORKING
- 7.2.5 OTHERS
- 7.3 BY END USER
- 7.3.1 HEALTHCARE ORGANIZATION
- 7.3.2 PHARMACEUTICALS
- 7.3.3 BIOTECHNOLOGY
- 7.3.4 OTHERS
- 7.4 BY GEOGRAPHY
- 7.4.1 NORTH AMERICA
- 220.127.116.11 US
- 18.104.22.168 CANADA
- 22.214.171.124 MEXICO
- 7.4.2 EUROPE
- 126.96.36.199 FRANCE
- 188.8.131.52 UK
- 184.108.40.206 GERMANY
- 220.127.116.11 ITALY
- 18.104.22.168 SPAIN
- 22.214.171.124 REST OF EUROPE
- 7.4.3 ASIA-PACIFIC
- 126.96.36.199 INDIA
- 188.8.131.52 CHINA
- 184.108.40.206 JAPAN
- 220.127.116.11 AUSTRALIA
- 18.104.22.168 SOUTH KOREA
- 22.214.171.124 REST OF APAC
- 7.4.4 MIDDLE EAST AND AFRICA
- 126.96.36.199 GCC
- 188.8.131.52 SOUTH AFRICA
- 184.108.40.206 REST OF MIDDLE EAST AND AFRICA
- 7.4.5 SOUTH AMERICA
- 220.127.116.11 BRAZIL
- 18.104.22.168 ARGENTINA
- 22.214.171.124 REST OF SOUTH AMERICA
8. COMPETITIVE LANDSCAPE
- 8.1 MERGERS AND ACQUISITIONS
- 8.2 AGREEMENTS, COLLABORATIONS AND PARTNERSHIPS
- 8.3 NEW PRODUCT LAUNCHES
9. KEY PLAYERS
- 9.1 QUALCOMM
- 9.2 SONY
- 9.3 TEXAS INSTRUMENTS
- 9.4 IMPAK HEALTH NEDAP
- 9.5 GENTAG
- 9.6 OMRON HEALTHCARE
- 9.7 QOLPAC
- 9.8 A&D COMPANY
- 9.9 NXP SEMICONDUCTORS
- 9.10 OTHERS
10. FUTURE OUTLOOK OF THE MARKET