Near Field Communication In Healthcare Market
PUBLISHED: 2023 ID: SMRC22749
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Near Field Communication In Healthcare Market

Near Field Communication in Healthcare Market Forecasts to 2028 - Global Analysis By Product type (NFC Chips, NFC Readers, NFC Tags, NFC-enabled Mobile SIM and Other Products), Operating Mode (Reader/Writer Mode, Card Emulation Mode and Peer-to-Peer Mode), Application (Diagnostics, Hospitals, Medical Devices and Other Applications) and By Geography

4.1 (87 reviews)
4.1 (87 reviews)
Published: 2023 ID: SMRC22749

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $5.31 BN

Projected Year Value (2028)

US $16.18 BN

CAGR (2022 - 2028)

20.4%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Asia Pacific


According to Stratistics MRC, the Global Near Field Communication in Healthcare Market is accounted for $5.31 billion in 2022 and is expected to reach $16.18 billion by 2028 growing at a CAGR of 20.4% during the forecast period. Near Field Communication (NFC) is a technology that enables two electronic devices, such as a smartphone and a contactless credit card, to communicate with one another by coming into close proximity. Communication between medical devices and patient monitoring equipment is made possible by NFC in the healthcare industry. This enables the management and tracking of medical devices as well as the transfer of data between devices. NFC is a fairly new technology in the healthcare industry.

According to a Gartner report from 2020, 36 billion IoT devices will be used for NFC-enabled mobile payments. By 2025, according to the GSMA, smartphones and near field communication (NFC) will support 80% of all connections worldwide. This potent pairing of NFC and smartphones considerably drives the near field communication (NFC) market.



Market Dynamics:

Driver:

Increasing use of NFC technologies for patient monitoring

The Near Field Communication (NFC) Forum Industry Association claims that clinical professionals and manufacturers of health products around the globe are looking at NFC technologies as a secure and affordable method for patient monitoring. Gartner predicted that NFC-enabled mobile payments would be used on 36 billion IoT devices in 2020. According to the GSMA smartphones and NFC will power 80% of global connectivity by 2025. The market for NFC is expanding thanks to this powerful pairing of smartphones and NFC. The market for near field communication in healthcare is also growing as a result of people becoming more aware of the advantages of patient monitoring and the rise in the use of wireless technologies for patient monitoring.

Restraint:

Short-range communication

One of the main factors allegedly limiting the growth of the near field communication market in healthcare is short-range communication problems. NFC technologies are only appropriate for close-proximity data transfers. For data transfer through NFC technologies in medical implants, the distance between the communicating healthcare devices and the implant must be less than 4 cm, and the high speed is either 212 or 424 kbps. These difficulties with short-range communication are also becoming a significant obstacle in patient monitoring, which is anticipated to have a detrimental effect on the development of the market for near field communication in healthcare.

Opportunity:

Gaining attention in wearable medical technology

Wearable technology devices are growing in popularity and adding more functions. SECORA Connect, for instance, focuses on technologies that are intended to be integrated into smart wearable devices for providing secured payment and transportation ticketing through NFC technologies. Additionally, the market for near field communication in healthcare is expanding as more wearable NFC technologies are being used in hospital care settings to track resources and supplies globally.

Threat:

Security and high power consumption issues

Although the security is extremely resistant to conventional hacking techniques, it is not perfect. It has been proven that smartphones with NFC capabilities can be compromised. Android-based smartphones were vulnerable to hackers, allowing them to execute malicious code. NFC also has the drawback of requiring an external reader to power passive tags, which can result in higher power consumption than Bluetooth Low Energy. These drawbacks could pose obstacles to the adoption of NFC in implantable medical devices where security is crucial and communication over longer distances must be reliable, especially if the implanted devices are placed deep within the body.

Covid-19 Impact

The COVID-19 pandemic has increased the demand for contactless solutions, which has resulted in significant growth for near field communication in the healthcare industry. Additionally, factors like the rising demand for NFC in new medical applications due to the pandemic and the expanding use of NFC technology in smart packaging for healthcare have created lucrative growth opportunities for the market. Avery Dennison's Smartrac and the blockchain company SUKU, for instance, worked together in May 2020 to digitally authenticate and verify COVID-19 test kits and PPE using a near field communication (NFC) RFID tag. Innovative near field communication-enabled products have been introduced by market players to further guarantee superior customer experiences during the pandemic.

The NFC tags segment is expected to be the largest during the forecast period

NFC tags are increasingly being adopted in vitro diagnostics owing to the growing demand for wireless data transmission. Due to this, the NFC Tags segment is expected to witness the largest share during the forecast period. All tags have a 4–10 byte-long unique ID number within a range of manufacturers and technologies that can effectively be used to identify the tag when it is used. The communication is based on magnetic inductive coupling. A reader creates alternating current through a coil, which is incorporated in a smaller tag. An alternating magnetic field is created, and a voltage will appear across the tag. The rise in investment by the key players to develop advanced NFC tags for patent monitoring is further propelling the growth of near-field communication in the healthcare market.

The peer-to-peer mode segment is expected to have the highest CAGR during the forecast period

Over the forecast period, the peer-to-peer mode segment is expected to witness significant growth. A near-field communication technology called peer-to-peer mode enables two devices to communicate with each other directly without the use of a middle device. When sharing files or exchanging small amounts of data between two devices, this mode is typically used. Peer-to-peer mode has several advantages, including the fact that it can be used with mobile devices because it doesn't need a power source. Additionally, this mode is safer for data transfer than Bluetooth, Wi-Fi, or other methods, which is driving the segment expansion.

Region with largest share:
North America had a 46% market share and is expected to hold the largest share during the forecast period. This is due to the region's increasing use of NFC technologies for molecular diagnostics. The major players in the area are concentrating on creating cutting-edge NFC technologies for implants used in medicine. In the United States, 23.4 million patients used patient monitoring tools in 2020, according to a survey. Additionally, the country's increased use of patient monitoring is boosting the market for near field communication in healthcare in the North American region.

Region with highest CAGR:

Asia-Pacific is estimated to experience the highest CAGR over the forecast period. The use of mobile payments has significantly increased in this area as a result of contemporary technologies like the Internet of Things (IoT), big data, NFC, and others. This technology has been useful for many applications, including contactless payment cards, mobile wallets, healthcare, and public transportation. Moreover, the expansion of the NFC market in Asia-Pacific has been significantly aided by Sony Corporation and other notable NFC card manufacturers in the region.



Key players in the market

Some of the key players profiled in the Near Field Communication in Healthcare Market include A&D Company, Limited, Gentag, Inc., Impact Health, Inside Secure, MocoLabs Inc. (Qolpac B.V.), Nedap N.V., NXP Semiconductors N.V., Omron Healthcare, Inc., Qualcomm Technologies, Inc., Sony, Texas Instruments and Infineon Technologies.

Key Developments:

In March 2023, OMRON Healthcare Europe and Servier announced a long-term strategic partnership that aims to bring about innovations that will improve the identification, management, and long-term control of hypertension and other cardiovascular conditions, with the ultimate objective of improving the lives of patients worldwide.

In July 2022, Infineon offers the NAC1080: a single-chip solution with an integrated H-Bridge for passive NFC lock applications. The NAC1080 MCU uses the near field communication (NFC) interface to allow cell phones to operate devices directly. Advanced local and cloud functionalities can be added to the regional marketing partners' mobile apps. This decreases the material bill and promotes miniaturized product design.

In February 2022, OMRON Healthcare Europe B.V., parent company of OMRON Healthcare UK Limited, has today launched its integration with Patients Know Best (PKB), part of the latest update of the OMRON Connect App. This development means that patients will be able to share their health data with their clinician or clinical team through a secure personal health record. Sharing this data allows for more informed self-management; and is crucial for patients who want to have more input into their treatment plan.

Product Types Covered:
• NFC Chips
• NFC Readers
• NFC Tags
• NFC-enabled Mobile SIM
• Other Product Types

Operating Modes Covered:
• Reader/Writer Mode
• Card Emulation Mode
• Peer-to-Peer Mode

Applications Covered:
• Diagnostics
• Hospitals
• Medical Devices
• Medical Implants
• Pharmaceuticals a Biotechnology
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Near Field Communication in Healthcare Market, By Product Type
5.1 Introduction
5.2 NFC Chips
5.3 NFC Readers
5.4 NFC Tags
5.5 NFC-enabled Mobile SIM
5.6 Other Product Types

6 Global Near Field Communication in Healthcare Market, By Operating Mode
6.1 Introduction
6.2 Reader/Writer Mode
6.3 Card Emulation Mode
6.4 Peer-to-Peer Mode

7 Global Near Field Communication in Healthcare Market, By Application
7.1 Introduction
7.2 Diagnostics
7.3 Hospitals
7.4 Medical Devices
7.5 Medical Implants
7.6 Pharmaceuticals a Biotechnology
7.7 Other Applications

8 Global Near Field Communication in Healthcare Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa

9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies

10 Company Profiling
10.1 A&D Company, Limited
10.2 Gentag, Inc.
10.3 Impact Health
10.4 Inside Secure
10.5 MocoLabs Inc. (Qolpac B.V.)
10.6 Nedap N.V.
10.7 NXP Semiconductors N.V.
10.8 Omron Healthcare, Inc.
10.9 Qualcomm Technologies, Inc.
10.10 Sony
10.11 Texas Instruments
10.12 Infineon Technologies

List of Tables
1 Global Near Field Communication in Healthcare Market Outlook, By Region (2020-2028) ($MN)
2 Global Near Field Communication in Healthcare Market Outlook, By Product Type (2020-2028) ($MN)
3 Global Near Field Communication in Healthcare Market Outlook, By NFC Chips (2020-2028) ($MN)
4 Global Near Field Communication in Healthcare Market Outlook, By NFC Readers (2020-2028) ($MN)
5 Global Near Field Communication in Healthcare Market Outlook, By NFC Tags (2020-2028) ($MN)
6 Global Near Field Communication in Healthcare Market Outlook, By NFC-enabled Mobile SIM (2020-2028) ($MN)
7 Global Near Field Communication in Healthcare Market Outlook, By Other Product Types (2020-2028) ($MN)
8 Global Near Field Communication in Healthcare Market Outlook, By Operating Mode (2020-2028) ($MN)
9 Global Near Field Communication in Healthcare Market Outlook, By Reader/Writer Mode (2020-2028) ($MN)
10 Global Near Field Communication in Healthcare Market Outlook, By Card Emulation Mode (2020-2028) ($MN)
11 Global Near Field Communication in Healthcare Market Outlook, By Peer-to-Peer Mode (2020-2028) ($MN)
12 Global Near Field Communication in Healthcare Market Outlook, By Application (2020-2028) ($MN)
13 Global Near Field Communication in Healthcare Market Outlook, By Diagnostics (2020-2028) ($MN)
14 Global Near Field Communication in Healthcare Market Outlook, By Hospitals (2020-2028) ($MN)
15 Global Near Field Communication in Healthcare Market Outlook, By Medical Devices (2020-2028) ($MN)
16 Global Near Field Communication in Healthcare Market Outlook, By Medical Implants (2020-2028) ($MN)
17 Global Near Field Communication in Healthcare Market Outlook, By Pharmaceuticals a Biotechnology (2020-2028) ($MN)
18 Global Near Field Communication in Healthcare Market Outlook, By Other Applications (2020-2028) ($MN)
19 North America Near Field Communication in Healthcare Market Outlook, By Country (2020-2028) ($MN)
20 North America Near Field Communication in Healthcare Market Outlook, By Product Type (2020-2028) ($MN)
21 North America Near Field Communication in Healthcare Market Outlook, By NFC Chips (2020-2028) ($MN)
22 North America Near Field Communication in Healthcare Market Outlook, By NFC Readers (2020-2028) ($MN)
23 North America Near Field Communication in Healthcare Market Outlook, By NFC Tags (2020-2028) ($MN)
24 North America Near Field Communication in Healthcare Market Outlook, By NFC-enabled Mobile SIM (2020-2028) ($MN)
25 North America Near Field Communication in Healthcare Market Outlook, By Other Product Types (2020-2028) ($MN)
26 North America Near Field Communication in Healthcare Market Outlook, By Operating Mode (2020-2028) ($MN)
27 North America Near Field Communication in Healthcare Market Outlook, By Reader/Writer Mode (2020-2028) ($MN)
28 North America Near Field Communication in Healthcare Market Outlook, By Card Emulation Mode (2020-2028) ($MN)
29 North America Near Field Communication in Healthcare Market Outlook, By Peer-to-Peer Mode (2020-2028) ($MN)
30 North America Near Field Communication in Healthcare Market Outlook, By Application (2020-2028) ($MN)
31 North America Near Field Communication in Healthcare Market Outlook, By Diagnostics (2020-2028) ($MN)
32 North America Near Field Communication in Healthcare Market Outlook, By Hospitals (2020-2028) ($MN)
33 North America Near Field Communication in Healthcare Market Outlook, By Medical Devices (2020-2028) ($MN)
34 North America Near Field Communication in Healthcare Market Outlook, By Medical Implants (2020-2028) ($MN)
35 North America Near Field Communication in Healthcare Market Outlook, By Pharmaceuticals a Biotechnology (2020-2028) ($MN)
36 North America Near Field Communication in Healthcare Market Outlook, By Other Applications (2020-2028) ($MN)
37 Europe Near Field Communication in Healthcare Market Outlook, By Country (2020-2028) ($MN)
38 Europe Near Field Communication in Healthcare Market Outlook, By Product Type (2020-2028) ($MN)
39 Europe Near Field Communication in Healthcare Market Outlook, By NFC Chips (2020-2028) ($MN)
40 Europe Near Field Communication in Healthcare Market Outlook, By NFC Readers (2020-2028) ($MN)
41 Europe Near Field Communication in Healthcare Market Outlook, By NFC Tags (2020-2028) ($MN)
42 Europe Near Field Communication in Healthcare Market Outlook, By NFC-enabled Mobile SIM (2020-2028) ($MN)
43 Europe Near Field Communication in Healthcare Market Outlook, By Other Product Types (2020-2028) ($MN)
44 Europe Near Field Communication in Healthcare Market Outlook, By Operating Mode (2020-2028) ($MN)
45 Europe Near Field Communication in Healthcare Market Outlook, By Reader/Writer Mode (2020-2028) ($MN)
46 Europe Near Field Communication in Healthcare Market Outlook, By Card Emulation Mode (2020-2028) ($MN)
47 Europe Near Field Communication in Healthcare Market Outlook, By Peer-to-Peer Mode (2020-2028) ($MN)
48 Europe Near Field Communication in Healthcare Market Outlook, By Application (2020-2028) ($MN)
49 Europe Near Field Communication in Healthcare Market Outlook, By Diagnostics (2020-2028) ($MN)
50 Europe Near Field Communication in Healthcare Market Outlook, By Hospitals (2020-2028) ($MN)
51 Europe Near Field Communication in Healthcare Market Outlook, By Medical Devices (2020-2028) ($MN)
52 Europe Near Field Communication in Healthcare Market Outlook, By Medical Implants (2020-2028) ($MN)
53 Europe Near Field Communication in Healthcare Market Outlook, By Pharmaceuticals a Biotechnology (2020-2028) ($MN)
54 Europe Near Field Communication in Healthcare Market Outlook, By Other Applications (2020-2028) ($MN)
55 Asia Pacific Near Field Communication in Healthcare Market Outlook, By Country (2020-2028) ($MN)
56 Asia Pacific Near Field Communication in Healthcare Market Outlook, By Product Type (2020-2028) ($MN)
57 Asia Pacific Near Field Communication in Healthcare Market Outlook, By NFC Chips (2020-2028) ($MN)
58 Asia Pacific Near Field Communication in Healthcare Market Outlook, By NFC Readers (2020-2028) ($MN)
59 Asia Pacific Near Field Communication in Healthcare Market Outlook, By NFC Tags (2020-2028) ($MN)
60 Asia Pacific Near Field Communication in Healthcare Market Outlook, By NFC-enabled Mobile SIM (2020-2028) ($MN)
61 Asia Pacific Near Field Communication in Healthcare Market Outlook, By Other Product Types (2020-2028) ($MN)
62 Asia Pacific Near Field Communication in Healthcare Market Outlook, By Operating Mode (2020-2028) ($MN)
63 Asia Pacific Near Field Communication in Healthcare Market Outlook, By Reader/Writer Mode (2020-2028) ($MN)
64 Asia Pacific Near Field Communication in Healthcare Market Outlook, By Card Emulation Mode (2020-2028) ($MN)
65 Asia Pacific Near Field Communication in Healthcare Market Outlook, By Peer-to-Peer Mode (2020-2028) ($MN)
66 Asia Pacific Near Field Communication in Healthcare Market Outlook, By Application (2020-2028) ($MN)
67 Asia Pacific Near Field Communication in Healthcare Market Outlook, By Diagnostics (2020-2028) ($MN)
68 Asia Pacific Near Field Communication in Healthcare Market Outlook, By Hospitals (2020-2028) ($MN)
69 Asia Pacific Near Field Communication in Healthcare Market Outlook, By Medical Devices (2020-2028) ($MN)
70 Asia Pacific Near Field Communication in Healthcare Market Outlook, By Medical Implants (2020-2028) ($MN)
71 Asia Pacific Near Field Communication in Healthcare Market Outlook, By Pharmaceuticals a Biotechnology (2020-2028) ($MN)
72 Asia Pacific Near Field Communication in Healthcare Market Outlook, By Other Applications (2020-2028) ($MN)
73 South America Near Field Communication in Healthcare Market Outlook, By Country (2020-2028) ($MN)
74 South America Near Field Communication in Healthcare Market Outlook, By Product Type (2020-2028) ($MN)
75 South America Near Field Communication in Healthcare Market Outlook, By NFC Chips (2020-2028) ($MN)
76 South America Near Field Communication in Healthcare Market Outlook, By NFC Readers (2020-2028) ($MN)
77 South America Near Field Communication in Healthcare Market Outlook, By NFC Tags (2020-2028) ($MN)
78 South America Near Field Communication in Healthcare Market Outlook, By NFC-enabled Mobile SIM (2020-2028) ($MN)
79 South America Near Field Communication in Healthcare Market Outlook, By Other Product Types (2020-2028) ($MN)
80 South America Near Field Communication in Healthcare Market Outlook, By Operating Mode (2020-2028) ($MN)
81 South America Near Field Communication in Healthcare Market Outlook, By Reader/Writer Mode (2020-2028) ($MN)
82 South America Near Field Communication in Healthcare Market Outlook, By Card Emulation Mode (2020-2028) ($MN)
83 South America Near Field Communication in Healthcare Market Outlook, By Peer-to-Peer Mode (2020-2028) ($MN)
84 South America Near Field Communication in Healthcare Market Outlook, By Application (2020-2028) ($MN)
85 South America Near Field Communication in Healthcare Market Outlook, By Diagnostics (2020-2028) ($MN)
86 South America Near Field Communication in Healthcare Market Outlook, By Hospitals (2020-2028) ($MN)
87 South America Near Field Communication in Healthcare Market Outlook, By Medical Devices (2020-2028) ($MN)
88 South America Near Field Communication in Healthcare Market Outlook, By Medical Implants (2020-2028) ($MN)
89 South America Near Field Communication in Healthcare Market Outlook, By Pharmaceuticals a Biotechnology (2020-2028) ($MN)
90 South America Near Field Communication in Healthcare Market Outlook, By Other Applications (2020-2028) ($MN)
91 Middle East & Africa Near Field Communication in Healthcare Market Outlook, By Country (2020-2028) ($MN)
92 Middle East & Africa Near Field Communication in Healthcare Market Outlook, By Product Type (2020-2028) ($MN)
93 Middle East & Africa Near Field Communication in Healthcare Market Outlook, By NFC Chips (2020-2028) ($MN)
94 Middle East & Africa Near Field Communication in Healthcare Market Outlook, By NFC Readers (2020-2028) ($MN)
95 Middle East & Africa Near Field Communication in Healthcare Market Outlook, By NFC Tags (2020-2028) ($MN)
96 Middle East & Africa Near Field Communication in Healthcare Market Outlook, By NFC-enabled Mobile SIM (2020-2028) ($MN)
97 Middle East & Africa Near Field Communication in Healthcare Market Outlook, By Other Product Types (2020-2028) ($MN)
98 Middle East & Africa Near Field Communication in Healthcare Market Outlook, By Operating Mode (2020-2028) ($MN)
99 Middle East & Africa Near Field Communication in Healthcare Market Outlook, By Reader/Writer Mode (2020-2028) ($MN)
100 Middle East & Africa Near Field Communication in Healthcare Market Outlook, By Card Emulation Mode (2020-2028) ($MN)
101 Middle East & Africa Near Field Communication in Healthcare Market Outlook, By Peer-to-Peer Mode (2020-2028) ($MN)
102 Middle East & Africa Near Field Communication in Healthcare Market Outlook, By Application (2020-2028) ($MN)
103 Middle East & Africa Near Field Communication in Healthcare Market Outlook, By Diagnostics (2020-2028) ($MN)
104 Middle East & Africa Near Field Communication in Healthcare Market Outlook, By Hospitals (2020-2028) ($MN)
105 Middle East & Africa Near Field Communication in Healthcare Market Outlook, By Medical Devices (2020-2028) ($MN)
106 Middle East & Africa Near Field Communication in Healthcare Market Outlook, By Medical Implants (2020-2028) ($MN)
107 Middle East & Africa Near Field Communication in Healthcare Market Outlook, By Pharmaceuticals a Biotechnology (2020-2028) ($MN)
108 Middle East & Africa Near Field Communication in Healthcare Market Outlook, By Other Applications (2020-2028) ($MN)

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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