According to a new market research report published by Credence Research “Patient Infotainment Terminals Market (Application – Hospitals, Treatment Centers and Elderly Care Centers; Screen Size – Small Size Medium Size and Large Size) – Growth, Future Prospects, Competitive Analysis and Forecast 2016 – 2024”, the global patient infotainment terminals market stood at US$ 1.2 Bn in 2015 and is estimated to expand with a CAGR of 9.4% from 2016 to 2024.
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Market Insights
The patient infotainment terminals systems market is majorly driven by increasing demand for higher patient satisfaction and better patient outcomes in the developed countries including the U.S., Germany, France, UK, Singapore and South Korea, among others. Available in different sizes, patient infotainment terminals can be deployed in various healthcare settings including hospitals, treatment centers, and elderly care centers.
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Factors such as value based purchasing and increasing investments in hospitals in the U.S. have led to the high demand for patient infotainment systems in the country making it the largest market in the world. Other factors such high-end medical tourism in countries including Malaysia, Singapore, South Korea, and the UAE have led to the growing adoption of latest healthcare IT systems to attract foreign patients. As a result, the overall patient infotainment terminals market is estimated to witness robust growth during the forecast period.
Some of the factors restraining the growth in patient infotainment terminals market included limited hospital budgets and lack of awareness among healthcare providers in some countries. In addition, economic slowdown and limited growth in the number of hospital beds in Europe pose as major challenges in the growth of patient infotainment terminals market in the region. However, increasing adoption in elderly care facilities and small and medium hospital is expected to offer sustainable growth opportunities for the companies providing these systems during the forecast period.
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Competitive Insights:
Patient infotainment terminals have played a pivotal role in ensuring enhanced patient experience especially, in countries such as the U.S. where medical reimbursements are largely dependent on patient satisfaction. However, in most of the developing countries, these systems not considered as a critical part of the overall healthcare environment. Thereby, the competition in various markets is intense among the providers of patient infotainment systems. In the developed markets, market participants compete based on features and capabilities offering better integration capabilities with existing healthcare IT systems. Whereas, there is immense price competition in the developing markets wherein hospitals do not focus primarily on capability and integration.
Key Trends:
- Offering connectivity to various external computing devices such as smartphones, tablets and gaming consoles, among others
- Offering enhanced integration with electronic medical records, nurse call systems, and other hand held devices
- Ensuring data security for internal hospital systems
- Integrating functional modules such as RFID, barcode, and smart cards to improve clinical workflow efficiency
- To provide liquid and dust proof systems with higher chemical resistance to ensure longer life of the systems
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