Healthcare Biometrics Market Overview
As per Market Research Future (MRFR), the global healthcare biometrics market is estimated to grow USD 5.6 billion, with a CAGR of 22.3% from 2019 to 2022 (forecast period).
Security has been a significant concern in the healthcare sector when it comes to safeguarding sensitive medical data, documents, and patient privacy. Biometric devices evaluate a user’s biological data by collecting specific physical human characteristics and using them as a future reference for user identification. The main components of the biometric identification systems consist of a scanning device or a reader, a software for converting the scanned information into a digital form, and a database for storing biometric data for comparison with the entered biometric data.
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A variety of human features, such as face, fingerprint, iris, voice, vein, hand, and signature, appear to reveal several potential biometric authentication attributes. The use of biometrics with the aid of these physical characteristics, along with logical or physical access, or both have been found to be of global benefit in the healthcare field. However, improper medical data storage may pose a risk to the user’s identity and thus challenge patient safety. Biometric solutions facilitate the provision of limited access from unauthorized access to rooms or computer network networks.
Healthcare Biometrics Market Dynamics
Health care facilities worldwide are increasingly shifting their focus to the implementation of biometric security solutions for patient identification and linking them to the electronic health record system for their patients. The integrity of the patient’s identity, the efficient and secure recording of data, the control of medical fraud, and the reduction of inventory theft are some of the distinct benefits offered by biometrics. Biometrics provides healthcare professionals and patients with the right to secure their information and to keep it confidential by providing such information only to those who have the right to access it.
Biometrics helps a patient to match his / her data with minimal probability of error and prevents the mixing of medical details that could have significant implications for the safety and well-being of these patients. In addition, factors such as the culmination of false patient identity, the protection of patients, and the reduction of overloads of medical fraud and the safety of medical records have urged healthcare professionals to opt for biometrics.
Even with the ongoing economic crisis, particularly in the European and Asian countries, healthcare organizations are investing in biometric technology to improve safety, privacy, and patient safety, thus compensating for the enormous amount of money lost in healthcare fraud. Companies that invest heavily in developing automated biometric systems with improved accuracy and response time may gain significant benefits in the near future. The introduction of new products with reduced costs and advanced capabilities of biometric security solutions at various conferences, laboratories, trade shows, webcasting, and electronic newsletters is further boosting the growth of market competitors.
Healthcare Biometrics Market Segmentation
The global healthcare biometrics market has been segmented into technology, application, and end-user.
On the basis of technology, the global market for healthcare biometrics has been segmented into face recognition, fingerprint recognition, vein recognition, behavioral recognition, iris recognition, palm geometry recognition, and others.
On the basis of application, the global market for healthcare biometrics has been segmented into patient identification, patient monitoring, medical record management, data security, and others.
On the basis of end-users, the global market for healthcare biometrics has been segmented into hospitals, research laboratories, healthcare institutes, and others.
Healthcare Biometrics Market Regional Analysis
Regionally, the global healthcare biometrics market has been segmented into North America, Europe, Asia Pacific, and the Middle East and Africa.
The North America region is expected to be the largest market for biometric healthcare products.
The European market is also growing steadily and is expected to continue to grow in the near future.
The Asia Pacific market is projected to expand at the fastest pace in healthcare biometrics during the forecast period.
The Middle East and Africa region are likely to have limited but steady market growth.
Healthcare Biometrics Market Key Players
Some of the significant participants in the global healthcare biometrics market are Fujitsu Limited, 3M Cogent Inc., BioEnable Technologies, NEC Corporation, Morpho (A Subsidiary of Safran SA), Bio-Key International, Inc., Suprema, Inc., Crossmatch Technologies Inc., Integrated Biometrics, Imprivata Inc.
Table Of Contents
- REPORT PROLOGUE
- MARKET INTRODUCTION
2.1. Definition
2.2. Scope Of The Study
2.2.1. Research Objective
2.2.2. Assumptions
2.2.3. Limitations
- RESEARCH METHODOLOGY
3.1. Overview
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
- MARKET DYNAMICS
4.1. Overview
4.2. Data Mining
4.3. Secondary Research
4.4. Primary Research
4.4.1. Breakdown Of Primary Respondents
4.5. Forecasting Techniques
4.6. Research Methodology For Market Size Estimation
4.6.1. Bottom-Up Approach
4.6.2. Top-Down Approach
4.7. Data Triangulation
4.8. Validation
- MARKET FACTOR ANALYSIS
…TOC Continued…
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