Healthcare Biometrics Market By Technology (Fingerprint Recognition, Face Recognition, Voice Recognition, Vein Recognition, Iris Recognition, Hand Recognition, Others), By Application (Medical Record and Data Center Security, Patient Identification and Tracking, Care Provider Authentication, Home/Remote Patient Monitoring, Others), By End-User (Hospitals, Clinics, Clinical Laboratories, Healthcare Institutions): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global healthcare biometrics market is envisioned to garner $24.9 billion by 2031, growing from $5.2 billion in 2021 at a CAGR of 17.4% from 2022 to 2031.
Biometrics in healthcare in order to ensure that the appropriate people receive care, patients must be identified using biologically distinctive characteristics (such as their face, fingerprint, iris, or voice). This creates a safer and more efficient environment for global healthcare.
Cyber threat awareness is rapidly increasing and is an important factor driving demand for the healthcare biometric market. The growing awareness of biometric healthcare security is driving up spending on this technology. Developing countries are currently investing heavily in this technology. Cyber-attacks are particularly dangerous for developed health care facilities. These issues may result in revenue loss for these health-care industries. Many health organizations are deploying biometrics as a result of these factors. This technology can provide increased health security, convenience, false identification, and fewer data breaches. Those healthcare biometrics are dependable solutions that provide precise security details. These features of this technology will entice a large number of users. The healthcare biometrics market has a massive supply rate.
The main market limitations are the rising cost of biometric equipment and problems associated with using biometric technologies. Another barrier to this market's growth is a lack of understanding of the biometric market. In contrast, market growth is anticipated to be fueled by the growing integration of biometric systems with IoT devices during the forecast period. Additionally rising cybercrime targeting medical data and services has restraint the global healthcare biometrics market's growth. Medical records command higher prices on the dark web due to their valuable data, making them a popular target for criminals. According to CBS News, a television and radio service based in the U.S., patient records can sell for up to $1,000 each.
The development of multipurpose authentication devices and advancements in existing technologies have aided in the advancement of these products, thereby assisting in market growth over the forecast period. For example, University Health System's Right Patient solution, launched in August 2016, combines Epic EHR (Electronic Health Record) with facial recognition technology. This allows patients to gain direct access to registration records and medical histories. Under the National Health Assurance Mission, the Indian government began with a new system, a database facility known as the Aadhar Card. The primary purpose of this facility is to provide affordable healthcare services to all citizens of the country.
Furthermore, several companies are launching various strategies to maintain and increase their market share, such as collaboration, new product launches, mergers, and acquisitions. Clear, for example, signed up for Atlantic Health as a partner for the digital ID provider's Health Pass, which features face biometrics for credential-binding and data security, in June 2021, to provide the health care network's patients with digital proof of COVID-19 vaccination.
The main challenge for many countries' healthcare systems was to limit the spread of COVID-19 among people, provide the best care to infected patients, and reduce the number of possible deaths. A significant impact on the healthcare biometrics market was also observed. According to an article published in the April 2020 issue of 'Biometric Technology Today, the COVID-19 situation necessitates the implementation of contactless and efficient operations, particularly in retail. Contactless technologies, such as face and iris-based detection systems, are reaching new heights, while applications that rely on fingerprint recognition modalities are suffering significant losses as a result of the COVID-19 pandemic's expanding criteria. Furthermore, Covid-19 will have a long-term and significant impact on biometrics companies, developers, investors, and customers. According to a study published in April 2020 titled 'Impact of Covid-19 on Biometrics,' the most immediate impact of Covid-19 is that contactless technologies such as face and iris recognition are now being forced to adapt to the emerging threat.
The key players profiled in this report include Zotero, NEC CORPORATION, Crossmatch Technologies, Fujitsu Limited, Bio-Key International, 3M Cogent, Inc., Suprema Inc., IDEMIA (Morpho), Imprivata, Inc., and Integrated Biometrics.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global healthcare biometrics market analysis from 2021 to 2031 to identify the prevailing global healthcare biometrics market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the global healthcare biometrics market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global global healthcare biometrics market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Technology
Fingerprint Recognition
Face Recognition
Voice Recognition
Vein Recognition
Iris Recognition
Hand Recognition
Others
By Application
Patient Identification and Tracking
Care Provider Authentication
Home/Remote Patient Monitoring
Others
Medical Record and Data Center Security
By End-User
Hospitals
Clinics
Clinical Laboratories
Healthcare Institutions
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Arabia
UAE
South Africa
Rest of LAMEA
Key Market Players
Zotero
NEC CORPORATION
Crossmatch Technologies
Fujitsu Limited
Bio-Key International
3M Cogent, Inc
Suprema Inc
IDEMIA (Morpho)
Imprivata, Inc.
Integrated Biometrics
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