Healthcare biometrics primarily entails patient identification and providing access control to users. Patients who participate in clinical trials are recruited with the help of biometrics, which are then used to both identify them and keep their personal information safe. There is a great deal of fraud and false representation of info to claim as paid benefits among healthcare insurers in the United States. By preventing data breaches and insurance fraud, healthcare biometrics has the potential to save the government and private insurers billions of dollars annually. Patients must be able to prove their identity in a safe and reliable way in order for hospitals to restrict access to restricted areas of the hospital, authenticate medical staff, and manage who has access to patient records stored in centralized databases.
In 2022, the worldwide market for healthcare biometrics is anticipated to reach a value of US$5,759.6 Mn, expanding at a compound annual growth rate (CAGR) of 24.4% between 2017 and 2022. (2022 – 2030).
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The existence of the main players in the market and growing introductions of medical biometric systems pushing in the North American market accounts for the lion’s share for healthcare biometric worldwide.
We can divide the worldwide market for healthcare biometrics into the regions of the Americas, Asia-Pacific, Europe, the MENA region, and Africa. Increases in the introduction of new medical biometric systems by industry heavyweights in North America point to the region as a key growth driver for the global healthcare biometrics market. For example, Applied Health Analytics, LLC, a company that offers data analysis and technological support, released bMetrix, a form for initial evaluation that facilitates the automated data gathering from biometric sensors, in February 2018. Through the use of this innovative system, doctors and wellness screeners can efficiently collect data in a variety of settings, including walk-in clinics, health food stores, health fairs, and biometric screening events. bMetrix is compatible with a wide variety of biometric diagnostic tools, including the widely used CardioChek and Cholestech LDX.
Over the same time frame, Asia Pacific is forecasted to grow significantly as a result of rising measures by hospitals and medical professionals there. For example, the Jiangxi Provincial People’s Hospital in China installed self-service payment terminals with Alipay’s face recognition technology for secure transactions in September 2018. It’s the country’s first medical facility to accept payments via facial recognition technology.
Market for Healthcare Biometrics Worldwide– Impact of Coronavirus (COVID-19) Pandemic
As of January 30, 2020, the World Health Organization had declared the COVID-19 virus outbreak a public health emergency due to the virus’s rapid spread across more than a hundred countries.
The rapid spread of COVID-19 has rendered global commerce impossible. To combat this pandemic, hospitals and medical staff around the world are working harder than ever. It has been reported in an article on Biometric Technology published in April 2020 on Research Gate, a commercial social networking site, that the COVID-19 situation necessitates the adoption of efficient and contactless procedures, particularly in the retail sector. The stricter criteria imposed because of this the COVID-19 pandemic have a devastating effect on applications that rely on fingerprint recognition modalities, while pushing contactless technologies like face and iris-based detection systems to new heights. In addition, COVID-19 will have far-reaching consequences for the biometrics industry as a whole, including businesses, developers, customers and investors.
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Market for Healthcare Biometrics Worldwide: Key Developments
- Digi-Key Electronics, a worldwide supplier of electronic components, announced in April 2020 that it had expanded its product offering by forming a global distribution partnership with Fingerprint Cards AB, a biometrics company. This partnership would allow Digi-Key to offer its customers standalone, compact biometric fingerprint sensor solutions for secure, hassle-free authentication and identification.
- CLEAR, a talent management system, and Atlantic Health System, a not-for-profit health care network, partnered in June 2021 to give patients access to and the ability to share proof of COVID-19 vaccination via CLEAR’s digital vaccine card and Health Pass. To gain entry to sporting events, concerts, and other participating locations across the country, vaccinated patients had the option of creating a digital version of their paper vaccination card using the free CLEAR app and securely linking their vaccination information within Health Pass.
- In August of 2021, RAIsonance, Inc., an AI/ML technology firm, announced the release of a new product called SoundPass. SoundPass is a non-medical biometric tool that uses multi-factor authentication (MFA) to create and preserve a secure perimeter around a building or a group of people.
Market for Healthcare Biometrics Worldwide: Restraints
The global healthcare biometrics market has been slowed by the rise of cybercrime aimed at medical data and services. With their increased value in stolen goods, medical records are a prime target for cybercriminals. According to CBS News, a television and radio station in the United States, individual patient records can fetch upwards of $1,000.
To give just one example, HIPAA Journal’s Healthcare Data Breach Report claims that more healthcare records have been compromised this year than in the six years between 2009 and 2014, and that’s before the increasing need for telehealth and remote access brought on by COVID-19.
In addition, biometrics in healthcare provides a secure method of accessing private data that cannot be copied, shared, or forgotten. Remembering the password is a major hassle for users. Many users have trouble keeping track of them all, and when they do forget one, they are often forced to use insecure “secret questions” or other knowledge-based authentication methods that are easy for social engineers to crack. Users choose convenience over security, and compromised accounts can be purchased on the underground market.
The main companies functioning in the market for healthcare biometrics worldwide are BIO-key International, Fujitsu Limited., 3M Cogent, Inc., MorphoTrust, Imprivata, Inc., Crossmatch Technologies, Inc., Toshiba Medical System Corporation, NEC Corporation, Hitachi Ltd., Integrated Biometrics, and Qualcomm Technologies, Inc.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Healthcare Biometrics Market Size Analysis from 2023 to 2030
11.6 COVID-19 Outbreak: Healthcare Biometrics Industry Impact
Chapter 2 Global Healthcare Biometrics Competition by Types, Applications, and Top Regions and Countries
2.1 Global Healthcare Biometrics (Volume and Value) by Type
2.3 Global Healthcare Biometrics (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Healthcare Biometrics Sales, Consumption, Export, Import by Regions (2017-2023)
Chapter 5 North America Healthcare Biometrics Market Analysis
Chapter 6 East Asia Healthcare Biometrics Market Analysis
Chapter 7 Europe Healthcare Biometrics Market Analysis
Chapter 8 South Asia Healthcare Biometrics Market Analysis
Chapter 9 Southeast Asia Healthcare Biometrics Market Analysis
Chapter 10 Middle East Healthcare Biometrics Market Analysis
Chapter 11 Africa Healthcare Biometrics Market Analysis
Chapter 12 Oceania Healthcare Biometrics Market Analysis
Chapter 13 South America Healthcare Biometrics Market Analysis
Chapter 14 Company Profiles and Key Figures in Healthcare Biometrics Business
Chapter 15 Global Healthcare Biometrics Market Forecast (2023-2030)
Chapter 16 Conclusions
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