The global healthcare biometrics market is envisioned to garner $24.9 billion by 2031, growing from $5.2 billion in 2021 at a CAGR of 17.4% from 2022 to 2031.
Biometrics in healthcare in order to ensure that the appropriate people receive care, patients must be identified using biologically distinctive characteristics (such as their face, fingerprint, iris, or voice). This creates a safer and more efficient environment for global healthcare.
Cyber threat awareness is rapidly increasing and is an important factor driving demand for the healthcare biometric market. The growing awareness of biometric healthcare security is driving up spending on this technology. Developing countries are currently investing heavily in this technology. Cyber-attacks are particularly dangerous for developed health care facilities. These issues may result in revenue loss for these health-care industries. Many health organizations are deploying biometrics as a result of these factors. This technology can provide increased health security, convenience, false identification, and fewer data breaches. Those healthcare biometrics are dependable solutions that provide precise security details. These features of this technology will entice a large number of users. The healthcare biometrics market has a massive supply rate.
The main market limitations are the rising cost of biometric equipment and problems associated with using biometric technologies. Another barrier to this market's growth is a lack of understanding of the biometric market. In contrast, market growth is anticipated to be fueled by the growing integration of biometric systems with IoT devices during the forecast period. Additionally rising cybercrime targeting medical data and services has restraint the global healthcare biometrics market's growth. Medical records command higher prices on the dark web due to their valuable data, making them a popular target for criminals. According to CBS News, a television and radio service based in the U.S., patient records can sell for up to $1,000 each.
The development of multipurpose authentication devices and advancements in existing technologies have aided in the advancement of these products, thereby assisting in market growth over the forecast period. For example, University Health System's Right Patient solution, launched in August 2016, combines Epic EHR (Electronic Health Record) with facial recognition technology. This allows patients to gain direct access to registration records and medical histories. Under the National Health Assurance Mission, the Indian government began with a new system, a database facility known as the Aadhar Card. The primary purpose of this facility is to provide affordable healthcare services to all citizens of the country.
Furthermore, several companies are launching various strategies to maintain and increase their market share, such as collaboration, new product launches, mergers, and acquisitions. Clear, for example, signed up for Atlantic Health as a partner for the digital ID provider's Health Pass, which features face biometrics for credential-binding and data security, in June 2021, to provide the health care network's patients with digital proof of COVID-19 vaccination.
The main challenge for many countries' healthcare systems was to limit the spread of COVID-19 among people, provide the best care to infected patients, and reduce the number of possible deaths. A significant impact on the healthcare biometrics market was also observed. According to an article published in the April 2020 issue of 'Biometric Technology Today, the COVID-19 situation necessitates the implementation of contactless and efficient operations, particularly in retail. Contactless technologies, such as face and iris-based detection systems, are reaching new heights, while applications that rely on fingerprint recognition modalities are suffering significant losses as a result of the COVID-19 pandemic's expanding criteria. Furthermore, Covid-19 will have a long-term and significant impact on biometrics companies, developers, investors, and customers. According to a study published in April 2020 titled 'Impact of Covid-19 on Biometrics,' the most immediate impact of Covid-19 is that contactless technologies such as face and iris recognition are now being forced to adapt to the emerging threat.
The key players profiled in this report include Zotero, NEC CORPORATION, Crossmatch Technologies, Fujitsu Limited, Bio-Key International, 3M Cogent, Inc., Suprema Inc., IDEMIA (Morpho), Imprivata, Inc., and Integrated Biometrics.
Biometrics in healthcare in order to ensure that the appropriate people receive care, patients must be identified using biologically distinctive characteristics (such as their face, fingerprint, iris, or voice). This creates a safer and more efficient environment for global healthcare.
Cyber threat awareness is rapidly increasing and is an important factor driving demand for the healthcare biometric market. The growing awareness of biometric healthcare security is driving up spending on this technology. Developing countries are currently investing heavily in this technology. Cyber-attacks are particularly dangerous for developed health care facilities. These issues may result in revenue loss for these health-care industries. Many health organizations are deploying biometrics as a result of these factors. This technology can provide increased health security, convenience, false identification, and fewer data breaches. Those healthcare biometrics are dependable solutions that provide precise security details. These features of this technology will entice a large number of users. The healthcare biometrics market has a massive supply rate.
The main market limitations are the rising cost of biometric equipment and problems associated with using biometric technologies. Another barrier to this market's growth is a lack of understanding of the biometric market. In contrast, market growth is anticipated to be fueled by the growing integration of biometric systems with IoT devices during the forecast period. Additionally rising cybercrime targeting medical data and services has restraint the global healthcare biometrics market's growth. Medical records command higher prices on the dark web due to their valuable data, making them a popular target for criminals. According to CBS News, a television and radio service based in the U.S., patient records can sell for up to $1,000 each.
The development of multipurpose authentication devices and advancements in existing technologies have aided in the advancement of these products, thereby assisting in market growth over the forecast period. For example, University Health System's Right Patient solution, launched in August 2016, combines Epic EHR (Electronic Health Record) with facial recognition technology. This allows patients to gain direct access to registration records and medical histories. Under the National Health Assurance Mission, the Indian government began with a new system, a database facility known as the Aadhar Card. The primary purpose of this facility is to provide affordable healthcare services to all citizens of the country.
Furthermore, several companies are launching various strategies to maintain and increase their market share, such as collaboration, new product launches, mergers, and acquisitions. Clear, for example, signed up for Atlantic Health as a partner for the digital ID provider's Health Pass, which features face biometrics for credential-binding and data security, in June 2021, to provide the health care network's patients with digital proof of COVID-19 vaccination.
The main challenge for many countries' healthcare systems was to limit the spread of COVID-19 among people, provide the best care to infected patients, and reduce the number of possible deaths. A significant impact on the healthcare biometrics market was also observed. According to an article published in the April 2020 issue of 'Biometric Technology Today, the COVID-19 situation necessitates the implementation of contactless and efficient operations, particularly in retail. Contactless technologies, such as face and iris-based detection systems, are reaching new heights, while applications that rely on fingerprint recognition modalities are suffering significant losses as a result of the COVID-19 pandemic's expanding criteria. Furthermore, Covid-19 will have a long-term and significant impact on biometrics companies, developers, investors, and customers. According to a study published in April 2020 titled 'Impact of Covid-19 on Biometrics,' the most immediate impact of Covid-19 is that contactless technologies such as face and iris recognition are now being forced to adapt to the emerging threat.
The key players profiled in this report include Zotero, NEC CORPORATION, Crossmatch Technologies, Fujitsu Limited, Bio-Key International, 3M Cogent, Inc., Suprema Inc., IDEMIA (Morpho), Imprivata, Inc., and Integrated Biometrics.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global healthcare biometrics market analysis from 2021 to 2031 to identify the prevailing global healthcare biometrics market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the global healthcare biometrics market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global global healthcare biometrics market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Technology
- Fingerprint Recognition
- Face Recognition
- Voice Recognition
- Vein Recognition
- Iris Recognition
- Hand Recognition
- Others
By Application
- Patient Identification and Tracking
- Care Provider Authentication
- Home/Remote Patient Monitoring
- Others
- Medical Record and Data Center Security
By End-User
- Hospitals
- Clinics
- Clinical Laboratories
- Healthcare Institutions
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Arabia
- UAE
- South Africa
- Rest of LAMEA
Key Market Players
- Zotero
- NEC CORPORATION
- Crossmatch Technologies
- Fujitsu Limited
- Bio-Key International
- 3M Cogent, Inc
- Suprema Inc
- IDEMIA (Morpho)
- Imprivata, Inc.
- Integrated Biometrics
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: HEALTHCARE BIOMETRICS MARKET, BY TECHNOLOGY
CHAPTER 5: HEALTHCARE BIOMETRICS MARKET, BY APPLICATION
CHAPTER 6: HEALTHCARE BIOMETRICS MARKET, BY END-USER
CHAPTER 7: HEALTHCARE BIOMETRICS MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Global Healthcare Biometrics Market," the global healthcare biometrics market was valued at $5.2 billion in 2021, and is estimated to reach $24.9 billion by 2031, growing at a CAGR of 17.4% from 2022 to 2031.Biometric devices assess a user's biological data by collecting specific physical human characteristics and storing them for future use in user identification. Healthcare biometrics refer to biometric applications in doctors’ offices, hospitals, or for use in monitoring patients. This can include access control, identification, workforce management or patient record storage. In order to accurately identify patients or to monitor them, biometrics are utilized in medical offices, hospitals, and other healthcare facilities. Applications can involve storing patient records or controlling access. Biometrics can be used to monitor patients outside of conventional healthcare settings, and they are also being used to build new applications like electronic prescriptions and remote diagnosis.
The primary goal of the healthcare biometrics market is to control the ongoing fraud in the medical field around the world. Adoption of new technologies aids in the updating of security barriers erected to protect patient data and inventory losses. Every day, the number of frauds involving patient data, patient history, and records increases, which must be controlled by implementing advanced technologies. The market size of healthcare biometrics is expected to grow in the future due to increased demand among health care practitioners and clinicians, and thus the number of clients is growing rapidly. Even research clinical centers and healthcare institutions are implementing these advanced technologies to improve system security. This is done primarily to safeguard the research data and information obtained through clinical trials and studies.
The government's active support for the health-care system has encouraged the use of modern technologies in order to provide an excellent service to the population while also obtaining a higher revenue return from the market. Following the pandemic, the number of fraud cases in the healthcare system has skyrocketed, which must be controlled with the help of modern technology. The problem of fraudulent patient identity was on the rise as a result of the large number of patients who came to the hospital as a result of mass infection, so sorting out the required individual from the crowd became extremely important. Theft of medical identities has also increased significantly, which will be a driving factor for market growth during the forecast period. These various factors prove to be the driving forces for market growth during the forecast period.
Adoption of a contactless biometric system proves to be a great opportunity for market growth. Face recognition and retina scan technologies are being used by large corporations and hospitals to modernize their systems and provide the best possible security for patient data and hospital information. The biometric system is readily accepted by developing countries in order to compete with the advanced facilities provided by developed nations. This presents an opportunity for the healthcare biometric system to broaden its scope globally. These various factors proved to be excellent opportunities for market expansion.
Touchless and face detection are two technological advancements in the multifactor authentication (MFA) system. The touchless MFA improved the clinician's safety and convenience. For example, Caregility's telehealth platform will support single sign-on (SSO) and multi-factor authentication (MFA) in June 2020. Thanks to SSO enhancements, end users can log into the platform with a single set of credentials and gain access to the various apps, websites, and data for which they have permissions. The feature improves security, system usability, and employee satisfaction by reducing password fatigue.
The healthcare biometrics market is segmented on the basis of technology, application, end-user, and region. As per technology, the market is classified into fingerprint recognition, face recognition, voice recognition, vein recognition, iris recognition, hand recognition, and others. According to application, the market is classified into Medical Record and Data Center Security, Patient Identification and Tracking, Care Provider Authentication, Home/Remote Patient Monitoring, and Others. On the basis of end-user, the market is classified into Hospitals, Clinics, Clinical Laboratories, and Healthcare Institutions. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, United Arab Emirates, South Africa, and rest of LAMEA).
The key players profiled in the study include Zotero, NEC CORPORATION, Crossmatch Technologies, Fujitsu Limited, Bio-Key International, 3M Cogent, Inc., Suprema Inc., IDEMIA (Morpho), Imprivata, Inc., and Integrated Biometrics. The major players in the market are actively engaged in the adoption of various strategies such as product launches and business expansion.
Key Market Insights
- Based on technology, the fingerprint recognition sub-segment emerged as the global leader in 2021 and is anticipated to be the fastest growing sub-segment during the forecast period.
- Based on application, the medical record and data center security sub-segment emerged as the global leader in 2021 and is anticipated to be the fastest growing sub-segment during the forecast period.
- Based on end-user, the hospitals sub-segment emerged as the global leader in 2021 and is anticipated to be the fastest growing sub-segment during the forecast period.
- Based on region, the North America market registered the highest market share in 2021 and is projected to maintain its position during the forecast period.
Companies Mentioned
- Zotero
- NEC CORPORATION
- Crossmatch Technologies
- Fujitsu Limited
- Bio-Key International
- 3M Cogent, Inc
- Suprema Inc
- IDEMIA (Morpho)
- Imprivata, Inc.
- Integrated Biometrics
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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