Global healthcare biometrics market size is expected to grow USD 5.6 billion at the CAGR of 22.3% by 2022.
Biometric is a device that is used for security identification and authentication process. It brings about both security and convenience when they’re deployed. Healthcare Biometric devices, on the other hand, are used to capture biometric data inputs such as face recognition, fingerprints, etc. The devices are highly useful for monitoring patients and for identification purposes and helps maintains all the medical records. The device is highly beneficial in the healthcare sector and with increasing technological advancements, its importance will only grow.
Data security is a highly important issue in this day and age and the safety and security provided by these biometric devices help maintain both privacy and security of the same. The growing awareness concerning the safety and security of patients, rising application of biometric devices in the medical sector, and the burgeoning healthcare industry are contributing to the healthcare biometrics market growth for these devices. Some of the other key market drivers are the growing population percentage and the rising penetration of healthcare facilities, globally. The improving economic condition across the globe is providing room for quality patient care and opening the doors for innovative insurance facilities, which are also contributing to the market growth of healthcare biometric devices market.
Even with the pool of positives to its name, the healthcare biometric market share can face obstruction in its growth trajectory owing to its slow paced adoption. The technology boasts unmatched promise and potential for the healthcare sector, however, the adoption and implementation of the same into the mainstream healthcare landscape has been slow, to say the least. This could act as an obstacle for the market in the forthcoming years.
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Healthcare Biometrics Market Segmentation
The segmentation of the healthcare biometrics market report is divided into four key areas:
By technologies: The market comprises of technologies such as behavioral recognition, palm geometry recognition, iris recognition, face recognition, behavioral recognition, fingerprint recognition, vein recognition, and others.
By applications: The applications of the market include patient monitoring, medical record management, patient identification, data security, and others.
By end-users: The end-users market segmentation includes healthcare institutes, research laboratories, Hospitals, and others.
Healthcare Biometrics Market Regional Analysis
In its recently published study of the global Healthcare Biometrics Market, Market Research Future (MRFR) reveals the regional segmentation to be divided into Europe, Asia-Pacific, North America, and the Rest of the World.
Globally, the North American region is positioned as the biggest market share holder for healthcare biometrics. This is primarily due to the established healthcare industry therein and the supplementing demand for regulatory requests. Additionally, factors such as extensive adoption of healthcare biometrics in hospitals, digital advancements in medical technology, and the surging growth of the healthcare industry is pushing the market growth in this region. The US is the major region in the North Americas that contributes to the overall growth of the market.
Following North America, the European market holds the biggest market share. The region is growing at a continuous scale and the market is expected to maintain its growth in the near future as well. However, Asia-Pacific holds the biggest growth potential among all these regions during the forecast period. The blossoming healthcare sector coupled with increasing adoption of the latest technologies in the medical industry will support its upward phase of growth. Finally, the RoW regions will experience limited yet steady growth potential during the review period.
Healthcare Biometrics Market Competitive Analysis
Global healthcare biometrics market trends include some prominent players, including NEC Corporation, Bio-Key International, Inc., Suprema, 3M Cogent Inc., Fujitsu Limited, Morpho (A Subsidiary of Safran SA), Integrated Biometrics, Crossmatch Technologies Inc., Imprivata Inc., and BioEnable Technologies, Inc.
Dec 2018, Element announced a partnership with Population Services International (PSI), a global non-profit organization. The move will allow the creation of a biometric identification platform that would support community health workers with targeted services.
Feb 2019, IrisGuard, an Iris biometrics specialist, announced its entry into the healthcare sector through a collaboration with a healthcare-focused blockchain network provider, Patientory. This move will enable the user’s iris biometrics to be linked to their health information on Pateintory’s PTOYNet blockchain to allow for secure and reliable online access.
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