WASHINGTON, April 04, 2023 (GLOBE NEWSWIRE) -- The Global Healthcare Biometrics Market was valued USD 2,719.3 Million in 2021 and is anticipated to reach a value of USD 7,606.0 Million by 2028. Over the projection timelines, the Global Market is forecasted to grow to exhibit a Compound Annual Growth Rate (CAGR) of 18.7%.
Healthcare Biometrics Market Overview
The healthcare biometrics market refers to the use of biometric technology to identify and authenticate individuals in the healthcare industry. Biometrics involves the use of unique biological characteristics, such as fingerprints, facial features, iris patterns, or voiceprints, to verify a person's identity.
The healthcare industry has seen significant growth in the adoption of biometrics technology due to increasing concerns about data privacy and security, fraud prevention, and patient safety. Biometrics technology is being used in various applications, such as patient identification and tracking, medical record management, access control, and authentication of healthcare providers.
The global healthcare biometrics market is expected to grow significantly in the coming years, driven by factors such as the increasing adoption of electronic health records (EHRs), rising healthcare fraud and medical identity theft, and growing demand for advanced patient care solutions.
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Market Dynamics
- Increasing demand for advanced patient care solutions: With the rising prevalence of chronic diseases and the aging population, there is a growing demand for advanced patient care solutions that can provide personalized and efficient care. Biometrics technology can help healthcare providers to identify patients accurately, track their medical history, and provide targeted treatment options.
- Rising concerns about data privacy and security: The healthcare industry is highly regulated, and patient data privacy and security are major concerns. Biometrics technology provides a secure and reliable method for patient identification, reducing the risk of medical identity theft and fraud.
- Growing adoption of electronic health records (EHRs): The adoption of EHRs is increasing globally, as they help to improve patient care, reduce medical errors, and streamline healthcare operations. Biometrics technology can help to ensure the accuracy of patient data and reduce errors in EHRs.
- Advancements in biometric technology: With advancements in biometric technology, healthcare providers can now use various biometric modalities such as fingerprint, facial recognition, iris recognition, and voice recognition to authenticate patients and healthcare providers.
- Increasing healthcare fraud and medical identity theft: Healthcare fraud and medical identity theft are major challenges in the healthcare industry, resulting in financial losses and compromised patient safety. Biometrics technology can help to prevent fraud and improve patient safety by accurately identifying patients and healthcare providers.
- Growing adoption of telehealth services: With the COVID-19 pandemic, there has been a significant increase in the adoption of telehealth services. Biometrics technology can help to authenticate patients and healthcare providers during telehealth consultations, ensuring the privacy and security of patient information.
Top Players in the Global Healthcare Biometrics Market
- NEC Corporation
- Fujitsu Limited
- 3M Cogent Inc.
- Morpho
- Imprivata Inc.
- Suprema Inc.
- BIO-key International Inc.
- Crossmatch Technologies Inc.
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Top Report Findings
- The global healthcare biometrics market is expected to reach USD 7,606.0 Million by 2028, registering a CAGR of 18.7 % during the forecast period.
- The increasing adoption of biometrics in healthcare for patient identification, access control, and fraud detection is driving the growth of the market.
- Fingerprint recognition is the largest segment of the market, accounting for the largest share in 2021. This is due to the high adoption of fingerprint recognition in healthcare for patient identification and access control.
- The patient identification segment is the largest segment of the market, accounting for the largest share in 2021. This is due to the increasing need to identify patients accurately and prevent fraud in healthcare.
- Hospitals are the largest segment of the market, accounting for the largest share in 2021. This is due to the high adoption of biometrics in hospitals for patient identification, access control, and fraud detection.
- North America is the largest market for healthcare biometrics, accounting for the largest share in 2021. This is due to the early adoption of biometrics in healthcare in the region.
- The key players operating in the global healthcare biometrics market are NEC Corporation, Fujitsu Limited, 3M Cogent Inc., Morpho, Imprivata Inc These players are focusing on expanding their product portfolio and geographical reach to gain a larger share of the market.
The report also provides insights into the following:
- The competitive landscape of the global healthcare biometrics market
- The key trends and developments in the market
- The growth opportunities for the market players
- The challenges faced by the market players
- The impact of COVID-19 on the market
Top Trends in Global Healthcare Biometrics Market
- Increasing Adoption of Multi-Modal Biometrics: Multi-modal biometrics involves the use of multiple biometric modalities to improve accuracy and reliability in patient identification and authentication. Healthcare providers are increasingly adopting multi-modal biometrics solutions that combine fingerprint recognition, facial recognition, iris recognition, and voice recognition technologies to provide a more comprehensive patient identification and authentication system.
- Growing Demand for Wearable Biometric Devices: Wearable biometric devices, such as smartwatches and fitness trackers, are becoming increasingly popular among healthcare consumers. These devices can track various biometric parameters, such as heart rate, blood pressure, and oxygen saturation, and can be used to authenticate patients and healthcare providers. Healthcare providers are also using wearable biometric devices to monitor patients remotely, allowing for more personalized and efficient care.
- Emergence of Blockchain-based Biometric Solutions: Blockchain technology provides a secure and decentralized platform for storing and sharing biometric data. Healthcare providers are increasingly exploring the use of blockchain-based biometric solutions to improve data privacy and security, and to ensure that patients have control over their biometric data.
- Integration of Artificial Intelligence (AI) and Machine Learning (ML) Technologies: AI and ML technologies are being integrated into biometric solutions to improve accuracy and efficiency in patient identification and authentication. These technologies can analyze biometric data in real-time and provide automated alerts in case of anomalies or suspicious activity.
- Increasing Adoption of Biometric Solutions in Developing Countries: With the increasing adoption of EHRs and digital health initiatives, developing countries are also adopting biometric solutions to improve patient identification and authentication. Biometric solutions can help to overcome the challenges of poor record-keeping and fraud in healthcare systems, and provide a more efficient and secure healthcare delivery system.
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Regional Analysis
- North America: North America is expected to dominate the healthcare biometrics market during the forecast period, driven by factors such as the presence of leading biometric solution providers, rising healthcare expenditure, and growing government initiatives to promote the adoption of EHRs and biometric technology in the healthcare industry.
- Europe: Europe is also a significant market for healthcare biometrics, driven by factors such as the increasing adoption of EHRs and biometric solutions, rising healthcare expenditure, and growing demand for advanced patient care solutions.
- Asia Pacific: The Asia Pacific region is expected to witness significant growth in the healthcare biometrics market during the forecast period, driven by factors such as the increasing adoption of digital health initiatives, rising healthcare expenditure, and growing demand for efficient and secure healthcare delivery systems.
- Latin America: The Latin America market is also expected to witness significant growth in the healthcare biometrics market during the forecast period, driven by factors such as the increasing adoption of EHRs, rising healthcare expenditure, and growing demand for advanced patient care solutions.
- Middle East and Africa: The Middle East and Africa market is also expected to witness significant growth in the healthcare biometrics market during the forecast period, driven by factors such as the increasing adoption of digital health initiatives, rising healthcare expenditure, and growing demand for efficient and secure healthcare delivery systems.
Browse market data Tables and Figures spread through 149 Pages and in-depth TOC on Healthcare Biometrics Market Forecast Report (2023-2028).
Global Healthcare Biometrics Market Segmentation
By Technology
- Single-Factor Authentication
- Multi-Factor Authentication
- Signature Recognition
- Voice Recognition
- Other Behavioral Recognition
- Multi-Factor Recognition
- Biometrics with PIN
- Two-Factor Biometrics
- Three-Factor Biometrics
By Application
- Patient Identification & Tracking
- Medical Record Security & Data Center Security
- Care Provider Authentication
- Home/ Remote Patient Monitoring
- Pharmacy Dispensing
- Other Applications
By End User
- Hospitals & Clinics
- Healthcare Institutions
- Research & Clinical Laboratories
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 2,719.3 Million |
| Revenue Forecast by 2028 | USD 7,606.0 Million |
| CAGR | 18.7 % from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | NEC Corporation, Fujitsu Limited, 3M Cogent Inc., Morpho, Imprivata Inc., Suprema Inc., BIO-key International Inc., Crossmatch Technologies Inc. |
| Customization Options | If our report does not include the information you are searching for, you may contact us to have a report tailored to your specific business needs https://www.vantagemarketresearch.com/healthcare-biometrics-market-1844/request-sample |
The key questions answered in the Healthcare Biometrics Market Report are:
- What is the current size and forecasted growth of the global healthcare biometrics market?
- What are the key drivers and challenges in the healthcare biometrics market?
- What are the different types of biometric technologies used in healthcare, and what is their market share?
- What are the different applications of biometrics in healthcare, and what is their market share?
- What are the different end-users of biometrics in healthcare, and what is their market share?
- What are the different regions contributing to the growth of the healthcare biometrics market, and what is their market share?
- Who are the key players operating in the healthcare biometrics market, and what are their market shares and strategies?
- What are the recent developments, partnerships, and collaborations in the healthcare biometrics market?
- What are the regulatory frameworks and standards for the use of biometrics in healthcare?
- What are the future opportunities and challenges in the healthcare biometrics market?
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