Healthcare Biometrics Market Size, Share & By Technology Type (Single-factor Authentication, Signature Recognition, Voice Recognition, Other Behavioral Recognition, Single-factor Authentication, Multi-factor Authentication, Biometrics with PIN, Multimodal Authentication, 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), By End User (Hospitals & Clinics, Healthcare institutions, Research & Clinical laboratories), by Regions and Global Forecast 2022-2028
Pune, Maharashtra -- (SBWIRE) -- 08/11/2022 -- The Healthcare Biometrics Market Size was valued at USD 448.7 million in 2021, and expected to reach USD 1579.9 million by 2028, and grow at a CAGR of 19.7% over the forecast period 2022-2028. Healthcare biometrics refers to several biometric applications that are used in clinics and hospitals to track patients' health. It enables users to easily access applications, medical data, and the information they require. In order to enable safe access to private medical records and to help with registration requirements, biometrics are employed in conjunction with smart identification cards or passwords. A scanning device or reader, software to turn the scanned data into digital form, and a database to store the biometric data for comparison with entered biometric data make up the fundamental parts of biometric identification systems. Secured patient identification is crucial for limiting physical access to hospital wards and buildings, controlling logical access to centralized archives of digitalized patient data, and authenticating medical staff.
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Drivers, Restraints, Opportunities, and Challenges
The healthcare biometrics market is expanding due to rising patient security and safety awareness, expanding use of biometric devices in the healthcare industry, and expanding healthcare infrastructure. Biometric technologies give precise, effective, and practical solutions to healthcare providers and operators of medical data centers in response to rising instances of false identity and data breach in the healthcare industry, which spurs market expansion. Increased healthcare consumerism and disposable income in developed and developing nations are also anticipated to encourage the uptake of cutting-edge technology like biometrics by healthcare systems, which will fuel market expansion.
Impact of the COVID-19 Pandemic
The primary issue for the healthcare systems in many of the countries was to stop the COVID-19 from spreading among people, treat infected individuals as best as possible, and reduce the number of potential fatalities. As the COVID-19 pandemic's requirements become more stringent, applications that rely on fingerprint recognition modalities are significantly losing ground to contactless technologies like face and iris-based detection systems. Additionally, Covid-19 will have a big and lasting effect on biometrics businesses, developers, investors, and clients.
By Technology Type
6.Biometrics with PIN
10.Other Behavioral Recognition
1.Patient Identification & Tracking
2.Medical Record Security & Data Center Security
3.Care provider authentication
4.Home/remote patient monitoring
By End User
1.Hospitals & Clinics
3.Research & Clinical laboratories
Medical records and data center security applications are anticipated to experience significant growth during the projection period. Growing use of electronic health records in healthcare facilities, worries about data integrity and information security, and rising demand for healthcare biometrics are all contributing to the market's expansion.
The multifactor authentication segment is predicted to have the largest growth in terms of technology on account of factors like the demand for secure authentication systems from developed countries and the increased acceptance of multifactor authentication among healthcare providers,
Healthcare institutions are predicted to dominate the healthcare biometrics market in terms of end users. As more devices and platforms connected to the internet of things (IoT) are using biometric solutions to manage workflows and secure data equipment enclosures, pedestrian entries, and connected gadgets.
The North American region is anticipated to grow owing to the significant amount of frauds and other crimes committed in the healthcare industry. These technologically advanced biometric technologies to collect patient data and registration data are predicted to be used more quickly as a result of the increased incidence of fraudulent activities. Additionally, the construction of new healthcare facilities like hospitals and clinics may be a major factor in the expansion of healthcare biometrics market in the region. Asia-Pacific was predicted to have considerable growth throughout the projection period because of the expanding government activities to safeguard data privacy and the security of healthcare facilities.
Competitive Landscape Outlook
Some of the leading players present in the healthcare biometrics market are Fujitsu Ltd., Bio-Key International, Inc., Suprema, Inc., 3M Cogent, Lumidigm, Inc., ZKTeco, Inc., Cross Match Technologies, Inc., and Siemens AG.
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Table Of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact Of Ukraine-Russia War
5. Value Chain Analysis
6. Porter's 5 Forces Model
7. PEST Analysis
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