The global advanced authentication market in the healthcare industry was valued at USD 0.92 billion in 2017, and is expected to reach about USD 2.22 billion by 2023, recording a CAGR of 15.31%, over the forecast period of 2018-2023. The scope of the report is limited to products offered by major players, including providers of smartcards, biometrics, mobile smart credentials, tokens, and user-based public key infrastructure. The regions considered under the scope of the report include – the United States, Canada, the United Kingdom, Germany, France, Italy, China, India, Japan, and Rest of the World.
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In the healthcare industry, owing to the rising adoption of various technologies, including medical imaging devices, healthcare robots, and computers, digitization is witnessing robust proliferation. The healthcare organizations are responsible for maintaining the confidentiality of crucial information pertaining to a particular patient, data associated with the concerned person handling, and utilization of the right equipment. Any compromise across the entire flow of patient treatment has the potential to lead to loss of lives. The aforementioned factors are expected to fuel the adoption of advanced authentication methods, including biometric, iris scan, and one-time passwords, thereby augmenting growth of the market studied, over the forecast period
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Increasing Number of Threats and Related Costs Emphasize the Need for Advanced Authentication Services
The rising number of cyberattacks has been leading to loss of secured data, including those of customers, suppliers, and manufacturers in the healthcare sector, which, in turn, increase the demand for advanced authentication, to access these vital information. Investment and expenditure in the healthcare industry witnessed a robust growth in the recent past, thereby propelling the sales of remote medical devices, within the sector. The rising sales in the industry are fueling growth in the number of digital transactions, which further creates potential opportunities for hackers to access sensitive data (pertaining to patients and logistics), within a particular organization. This factor is expected to increase the exposure to cyberattacks, thus boosting growth of the market studied.
The Rise of Biometric Technologies
Biometrics analyze and verify/authenticate individuals, based on human physical characteristics, such as fingerprints, eye retinas and irises, palm, speech, and voice, among others. Owing to its key advantages, such as non-repudiation, non-transferable, and non-identifiable nature, which provide a high level of protection against fraud, this method of authentication has been widely adopted. The technology has found successful implementation across various end-user verticals, such as forensics and governments, among others. Moreover, the widespread availability of fingerprint sensors in affordable mobile devices and government national ID programs, have been instrumental in increasing the awareness and adoption of this technology.
Asia-Pacific Expected to Register the Highest Growth Rate
North America accounts for the major share of the market studied. In North America, the United States dominated the advanced authentication market in healthcare, followed by Canada. The Asia-Pacific segment is expected to register the highest CAGR, over the forecast period. The increasing data breaches in healthcare organizations and rising adoption of advanced solutions of these organizations are enabling the adoption of authentication technologies, thus driving growth of the market studied.
Major Players: FUJITSU LTD, GEMALTO N. V, NEC CORPORATION, CA TECHNOLOGIES, SAFRAN IDENTITY AND SECURITY SAS., DELL TECHNOLOGIES INC (RSA SECURITY), LUMIDIGM INC (HID GLOBAL), VALIDISOFT, PISTOLSTAR, SECURENVOY(SHEARWATER GROUP), NETMOTION WIRELESS, CJIS SOLUTIONS, AUTHASAS, WIDEBAND CORPORATION, AND SECUREAUTH, among others.
Key Developments in the Market
- February 2018 – Fujitsu Ltd signed a deal to provide a customer contact pint platform, to Shizuoka Bank. The deal is expected to enhance the visibility of Finplex, Fujitsu’s digital financial solution, in the regional market.
- January 2018 – Gemalto launched its first biometric EMV card, into the market. The company highlighted the features of on-card storage technology used to store sensitive biometric information, with maximum security. The launch is expected to increase the company’s presence in the contactless payments market.
Reasons to Purchase this Report
- Current and future of the advanced authentication market in the healthcare industry, in the developed and emerging markets.
- Analyzing various perspectives of the market, with the help of Porter’s five forces analysis.
- The segment that is expected to dominate the market studied.
- The regions that are expected to witness healthy growth, during the forecast period.
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Companies Mentioned:
Fujitsu Ltd, Gemalto N. V, NEC Corporation, CA Technologies, Safran Identity and Security SAS., Dell Technologies Inc (RSA Security), Lumidigm Inc (HID Global), Validisoft, Pistolstar, Securenvoy(Shearwater Group), NetMotion Wireless, CJIS Solutions, AUTHASAS, WideBand Corporation, and SECUREAUTH
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