Identity And Access Management In Healthcare Market Size, Share & Trends Analysis Report By Component, By Deployment, By Type (Single Sign On, Multifactor Authentication, Provisioning, Directory Service), By End Use, By Region, And Segment Forecasts, 2024

Identity And Access Management In Healthcare Market Size, Share & Trends Analysis Report By Component, By Deployment, By Type (Single Sign On, Multifactor Authentication, Provisioning, Directory Service), By End Use, By Region, And Segment Forecasts, 2024 - 2030

Identity And Access Management In Healthcare Market Growth & Trends

The global identity and access management in healthcare market size is expected to reach USD 4.26 billion by 2030, registering a CAGR of 17.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is being driven by several key factors such as growing concern regarding data security, technologically advanced healthcare IT infrastructure, rapid adoption of cloud based solution and requirements for regulatory compliance to ensure safety and data security.

Healthcare organizations are increasingly adopting sophisticated IT systems to manage patient data securely, comply with regulations such as the Health Insurance Portability and Accountability Act (HIPAA), and enhance operational efficiency. Integrating IAM solutions with healthcare IT infrastructure streamlines user provisioning, authentication, & authorization processes, improving workflow efficiency and reducing administrative burdens. This integration also enables seamless access to patient data across various healthcare applications and systems, facilitating better patient care coordination & decision-making by healthcare providers.

The global healthcare industry has transformed with the rising adoption of cloud computing. Cloud-based healthcare credentialing software utilizes the potential of cloud computing to simplify and automate the credentialing process. Cloud computing services comprise data storage, processing, and software applications delivered over the internet. This software solution empowers healthcare organizations to manage the complete credentialing process online, from data collection and verification to granting and reviewing clinical privileges, as well as tracking & updating credentials.

Furthermore, risk and compliance professionals affiliated with HIPAA-covered entities and business associates needing additional guidance are encouraged to consult the OCR’s bulletin from December 2022. This bulletin offers a comprehensive insight into the definition of tracking technologies and the application of the HIPAA Rules. It is also advisable for them to become acquainted with the specifications outlined in the FTC’s Health Breach Notification Rule. In general, the necessity of complying with regulatory standards serves as a motivating factor for healthcare entities to invest in robust IAM solutions. This investment enhances patient safety, safeguards sensitive data, and ensures the reliability of healthcare IT systems.

Identity And Access Management In Healthcare Market Report Highlights

• Based on component, the software solutions segment held the largest revenue share of 66.7% in 2023. The growing adoption of telemedicine and remote healthcare services is fueling the demand for software solutions in the market.
• Based on type, the provisioning segment dominated the market with a revenue share of 30.7% in 2023. Effective provisioning ensures that only authorized individuals can access sensitive patient information and critical systems. This comprehensive control over user access makes the provisioning segment the foundation of identity and access management solutions in the healthcare sector, leading to its dominance in the market.
• Based on deployment mode, the cloud segment dominated the market with the largest share of 67.3% in 2023. The scalability and flexibility offered by cloud-based identity and access management solutions effectively align with the dynamic needs of the healthcare sector.
• Based on end use, the hospitals and clinics segment held the largest share of 43.5% in 2023. This can be attributed to several factors. Hospitals and clinics are critical entities within the healthcare ecosystem, serving as primary points of care delivery.
• North America held the largest revenue share of 39.0% in 2023. The primary drivers include the increasing adoption of sophisticated IT infrastructure, including EHRs and similar digital systems.

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