Healthcare Biometrics Market : Global Share, Size, Growth, Trends & Outlook ( 2022 – 2032 )
Biometrics in healthcare are used to summarize the biometric data inputs like fingerprints, face recognition etc. Factors such as growing healthcare IT application combined with rising awareness & demand for cyber security and biometric development catering to the healthcare facilities are projected to drive the growth of the market in the coming years. The global healthcare biometrics market size is estimated to register a compound annual growth rate (CAGR) of 18.7% during the forecast period i.e., 2020-2025. Moreover, global healthcare biometrics market is anticipated to capture a market opportunity of USD 546.0 Million between 2020 & 2025.
Market Insights
Increasing Adoption of Biometrics Technologies for Medical Record & Data Center Security
Many hospitals & clinics are specializing in high-quality healthcare services which are efficient and convenient. Thus, with the increasing adoption of EHRs (electronic health records) at medical centers, concerns over the protection of knowledge exchange & data integrity have increased because it is crucial to responsibly manage, store, and link medical and confidential patient data across networks, which is being through with the utilization of biometric systems. These biometric technologies offer accurate, efficient, and convenient solutions to healthcare providers and medical data center operators and also make sure that access is provided only to authorized individuals, especially just in case of critical varieties in data centers, counseling of patients, and ongoing patent studies. Biometrics technologies also provide narcotic security, billing reliability, and counter insurance fraud because of which these are increasingly being employed to secure restricted narcotics and medications. Furthermore, these technologies generate operational efficiencies for all ID procedures, excludes the possibilities of medical fraud and diminish the duplicity of medical records.
Segmentation Analysis
The global market for healthcare biometrics is segmented by technology, application, and end user. On the basis of technology, the market is segmented into single-factor authentication and multi-factor authentication, out of which, single-factor authentication segment is expected to grow at a considerable CAGR over the forecast period, i.e., 2020-2025. Further, the single-factor authentication segment is sub-segmented into face recognition, fingerprint recognition, iris recognition, palm geometry recognition, signature recognition, voice recognition and others. Furthermore, it was followed by multi-factor authentication segment in terms of market share in 2019.
By application, the market is divided into patient identification & tracking, medical record security & data center security, care provider authentication, remote patient monitoring, pharmacy dispensing and others, out of which, medical record security & data center security segment is envisioned to register a higher revenue share in the global market over the forecast period. Apart from this, the patient identification & tracking segment is projected to attain a noteworthy CAGR over the upcoming years.
Based on end user, the market is segregated into hospitals & clinics, healthcare institutions and research & clinical laboratories, out of which, hospitals & clinics segment is anticipated to attain the highest market share in the overall market over the upcoming years. In addition, research & clinical laboratories segment is expected to thrive at a significant CAGR over the forecast period i.e. 2020-2025.
Geographical Analysis
In terms of geography, the report offers an analysis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In the healthcare biometrics market, North America is predicted to capture a considerable market share over the forecast period. Further, factor such as increasing incidence of fraudulent activities leading to the adoption of technologically advanced biometric systems to gather patient data and registration data across the region are anticipated to drive the growth of North America market. Further, the Europe market is driven on the back of growing government support and the emergence of IoT applications in the region and is anticipated to grow at a notable compound annual growth rate (CAGR) from 2020 to 2025.
Competitive Analysis
The report also covers detailed competitive analysis of major market players of global healthcare biometrics market, such as NEC Corporation, Fujitsu Limited, 3M Cogent, Inc., Imprivata, Inc., Lumidigm, ZKteco, Inc., Crossmatch Technologies, Inc., BIO-key International, Inc., Suprema Inc., Integrated Biometrics and other major & niche players. The global healthcare biometrics market is witnessing a wide range of industry activities such as launch, innovation, merger, partnership, acquisition, research & development, and expansion across the globe.
Segmentation
By Technology:
- Single-factor Authentication
- Face Recognition
- Fingerprint Recognition
- Iris Recognition
- Palm Geometry Recognition
- Signature Recognition
- Voice Recognition
- Others
- Multi-factor Authentication
- Smart Card with Biometrics
- Biometrics with PIN
- Others
By Application:
- Patient Identification & Tracking
- Medical Record Security & Data Center Security
- Care Provider Authentication
- Remote Patient Monitoring
- Pharmacy Dispensing
- Others
By End User:
- Hospitals & Clinics
- Healthcare Institutions
- Research & Clinical Laboratories
By Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand, and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa)
Competitive Landscape
The report profiles various major market players such as
- NEC Corporation
- Fujitsu Limited
- 3M Cogent, Inc.
- Imprivata, Inc.
- Lumidigm
- ZKteco, Inc.
- Crossmatch Technologies, Inc.
- BIO-key International, Inc.
- Suprema Inc.
- Integrated Biometrics
- Other Major & Niche Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (launch, acquisition, expansion, technology development, research & development and other market activities).
The study also provides company’s positioning and market share in healthcare biometrics market.
Timeline Considered for Analysis:
- 2019: Base Year
- 2020: Estimated Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis
Industry report analyzes the global healthcare biometrics market by the following segments:
- Technology
- Application
- End User
Customization: We also offers customization in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Healthcare Biometrics Industry Report
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
- What is the impact of coronavirus disease (COVID-19) on the market and the upcoming changes in the market?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?
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- Publication date: 19th September 2023
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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