Global Healthcare Biometrics Market-Industry Analysis and Forecast (2019-2027)
Global Healthcare Biometrics Market was valued US$ XX Bn in 2019 and is expected to reach US$ 15.80 Bn by 2027, at a CAGR of 24.50 % during a forecast period.
Global Healthcare Biometrics Market
The report study has analyzed the revenue impact of the COVID-19 pandemic on the sales revenue of the market leader, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Biometrics technology helps to ensure accurate patient identification or monitoring of patients. The Biometrics for the health care industry mainly refers to staff authentication and patient identification solutions. It is used in combination with passwords or smart identification cards to secure access to sensitive patient records.
Global Healthcare Biometrics Market, Dynamics:
The healthcare sector has shifted away from paper-based medical records to electronic health records (EHR) across the globe. The future portends a new era of biometrics. An introduction of innovative technologies like artificial intelligence is expected to boost the global healthcare biometrics market growth. Biometric authentication is driving up clinical standards, protect staff and patients, and combat fraud. Now organizations are scrambling to protect their data, their organization, and their patient population. Emerging applications across novel fields of clinical research of medical devices are expected to offer opportunities for the key players in the healthcare biometric market. Also, the government initiatives toward healthcare infrastructure in developing countries like India and China are expected to drive the global healthcare biometric market.
On the other hand, consumer acceptance and high cost of healthcare biometric devices are expected to limit the global healthcare biometrics market growth.
Global Healthcare Biometrics Market, Segment Analysis:
Safety is more important in healthcare. Most of the healthcare facilities are partially locked down in a public hospital, clinic, or surgery. The staff areas only have door codes or swipe card entry. Currently, the fingerprint is widely used in clinical settings for doctors to log into workstations. Fingerprints are a powerful biometric modality. It can correctly identify patients among records numbering in the tens and hundreds of thousands, and even millions. In the fingerprint authentication, the prints are stored on a smart ID card, which is a better guarantor of staff safety. The use of fingerprint biometric authentication can safety and has a huge potential for changing and saving lives.
Patient Identification & Tracking is expected to grow at a XX% rate of CAGR during the forecast period. Patient identification is also a valuable use case for biometrics throughout the care continuum. Healthcare professionals (HCPs) are keeping medical records for many reasons like research, individual treatment plans, and insurance reimbursement or payment schedules. Many healthcare providers are seeking to increase the digitization of information like medical records. The patient identification typically contains palm print recognition or vascular palm/vein pattern authentication. The biometrics usage in patient identification has several benefits, like fraud reduction and fewer duplicate patient records.
Global Healthcare Biometrics Market, Regional Analysis:
North America region is expected to contribute a XX% share in the global healthcare biometrics market during the forecast period. The growth in the market is attributed to the rise in the number of the frauds and crimes occurring in the healthcare sector. Also, an increase in healthcare information exchanges and the demand for technology that decreases data corruption and fraud are expected to boost the regional market growth. The healthcare organizations are widely using biometric tools for two-factor or multi-factor identification and single sign-in for staff and patient identification in the region. Integration of the innovative technologies in the hospitals and clinics are expected to drive the market growth.
Global Healthcare Biometrics Market, Competitive Analysis:
Many hospitals and healthcare organizations are deploying biometric security architecture. Secure identification is playing a vital role in the healthcare system and helps to control logical access to centralized archives of digitized patients’ data. The usage of biometric systems also streamlines workflow by adding sign-off capacity for diagnostic results. Some healthcare providers have attempted to enhance patient identification with third-party text-based matching algorithms.
The objective of the report is to present a comprehensive analysis of the Global Healthcare Biometrics Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Healthcare Biometrics Market dynamics, structure by analyzing the market segments and projects the Global Healthcare Biometrics Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Healthcare Biometrics Market make the report investor’s guide.
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Scope of the Global Healthcare Biometrics Market
Global Healthcare Biometrics Market, By Technology
• Single-Factor Authentication
Palm Geometry Recognition
o Voice Recognition
o Signature Recognition
• Multi- Factor Authentication
Smart Card with Biometrics
Biometrics with Pin
• Multimodal Authentication
Two-Factor Biometric Authentication
Three-Factor Biometric Authentication
Global Healthcare Biometrics Market, By Application
• Patient Identification & Tracking
• Medical Record Security & Data Center Security
• Care provider authentication
• Home/remote patient monitoring
• Pharmacy dispensing
• Others (Includes narcotic security and counter insurance frauds)
Global Healthcare Biometrics Market, By End User
• Hospitals & Clinics
• Healthcare Institutions
• Research & Clinical Laboratories
Global Healthcare Biometrics Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Healthcare Biometrics Market
• Fujitsu Limited
• 3M Cogent, Inc.
• NEC Corporation
• Imprivata, Inc.
• Bio-Key International, Inc.
• Crossmatch Technologies, Inc.
• Zkteco, Inc.
• Suprema, Inc.
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