USD 5.2 billion
Healthcare Biometrics Market Size, Share, Growth Analysis, By Technology(Face recognition, palm recognition, fingerprint recognition, iris recognition), By Application(Logical access control, transaction authentication, and physical access control), By End-user(Hospitals, clinics, healthcare institutions, research & laboratories), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35G2096 |
Region:
Global |
Published Date: February, 2024
Pages:
260
|Tables:
95
|Figures:
76
Healthcare Biometrics Market Insights
Healthcare Biometrics Market size was valued at USD 5.2 billion in 2019 and is poised to grow from USD 6.1 billion in 2023 to USD 22.03 billion by 2031, growing at a CAGR of 17.4% in the forecast period (2024-2031).
Biometrics is a technology used to assess people's distinct behavioural and physical characteristics. Healthcare biometric devices scan various human features such as the face, hand, fingerprint, and others in order to authenticate, identify, and recognise people in order to secure personal records, medical data, and patients' privacy. The key features of biometric identification systems are software for converting scanned information into a digital form, a scanning device, and also a database to store biometric data for comparison with entered biometric data. Biometrics, such as voice and facial recognition, enable a person's identification and access to restricted areas without the use of touch. In the current environment, biometrics technology in the medical field could aid in limiting viral transmission in offices, hospitals, and clinics.
According to the healthcare biometrics market overview, increased use of biometric devices in the healthcare sector, increased awareness of security measures, and growing preference for infant security in hospitals will all help to cushion market growth during the forecast period. However, the scarcity of experienced workers, consumer acceptance, and the high installation and maintenance of biometric devices are all factors that will possibly impede the market growth during the forecast period.
US Healthcare Biometrics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hospitals
Fastest Growth
Clinics
Growth Rate
17.4% CAGR
Global Healthcare Biometrics Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Healthcare Biometrics Market Segmental Analysis
Global Healthcare Biometrics Market is segmented based on the technology, application, end-user, and region. Based on technology, global Healthcare Biometrics Market is segmented into face recognition, palm recognition, fingerprint recognition, iris recognition, behavioral recognition, vein recognition, and others. Based on application, the global Healthcare Biometrics Market is segmented into logical access control, transaction authentication, and physical access control. Based on end-user, the global Healthcare Biometrics Market is segmented into hospitals, clinics, healthcare institutions, research & laboratories. Based on region, Healthcare Biometrics Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Healthcare Biometrics Market Analysis by Technology
Based on technology, global healthcare biometrics market is segmented into face recognition, palm recognition, fingerprint recognition, iris recognition, behavioral recognition, vein recognition, and others. The fingerprint identification market is predicted to hold the largest market share due to its higher reliability and ease of access. The system is more secure thanks to DNA recognition, which is expected to increase the demand for biometrics systems in the healthcare sector.
As a result of modernization, the face recognition segment is becoming increasingly popular across a wide range of industries. Face recognition systems can detect and recognize in photos, videos, or in real time. Moreover, this system has aided in increasing resistance to fraud cases, thereby safeguarding patient data and information and preventing malpractice.
Healthcare Biometrics Market Analysis by End-User
Based on end-user, the global healthcare biometrics market is segmented into hospitals, clinics, healthcare institutions, research & laboratories. Hospitals are expected to dominate the segment in the coming years because they use this high tech on a large scale to reduce the large crowds that tend to visit this setup while accompanying the patients. Because it is exceptionally hard for medical staff to operate when there is too much chaos, the healthcare biometric system aids in the authentication of people's entry by enabling only people who are eligible into the main premises of hospitals.
During the forecast period, healthcare Institutions are expected to significantly grow in the healthcare biometrics market. Biometric system must be adopted by the healthcare system in order to maintain absolute privacy and security of patient information as well as data confidentiality. A large number of these products are likely to be used in this sector as a result of numerous treatments being developed, as well as mental and physical illness, which leads to an increase in sales.
Global Healthcare Biometrics Market By End-user, 2021 (%)
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Healthcare Biometrics Market Regional Insights
As a result of the higher number of crimes and frauds in the healthcare system, North America is expected to dominate the global healthcare biometrics market during the forecast period. The rise in the number of fraudulent activity and misleading information has increased the demand for advanced biometric technology in the system, which will aid in the protection of the health care database's information. These advanced systems collect registration information and patient data and store it for future purposes for eliminating unethical breaches into the system.
As a result of the high number of fraud cases in the healthcare sector, the European market is the second largest sector for the healthcare biometric market. Adoption of better biometric facilities has become a necessity as technology advances.
As a result of increased government assistance in the healthcare sector, the Asia Pacific region is expected to grow dramatically. The growing introduction of innovative technologies in the healthcare sector in order to gain consumer trust and generate a higher revenue return has aided in the growth of the market.
Global Healthcare Biometrics Market By Geography, 2021-2028
- Largest
- Fastest
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Healthcare Biometrics Market Dynamics
Healthcare Biometrics Market Driver
- Healthcare biometrics market future is bright as medical personnel keep the medical data of hospitals and clinics extremely confidential. This is due to the need to protect patient information, which cannot be disclosed to anyone without the doctor's or the patient's consent. This is giving rise to the use of a biometric scanner, which examines the user's biological data by recording and storing specific physical information for future reference or identification. The scanned data is converted into digital format using software and is retrieved by a scanning device acknowledged into a database in the form of biometrics to form a comparison with the existing biometric data when necessary.
Healthcare Biometrics Market Restraint
- The vast majority of healthcare facilities prefer cost-effective alternatives. The biometrics system may be used to control the market's doors, elevators, critical care areas, and information room. Low adoption of biometric devices in hospitals due to high installation costs may restrain the global healthcare biometrics market during the forecast period.
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Healthcare Biometrics Market Competitive Landscape
Global healthcare biometrics market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Healthcare Biometrics Market Top Player's Company Profiles
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3M Cogent Inc.
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Fujitsu Limited
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Crossmatch Technologies Inc.
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Safran Identity & Security (Morpho)
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Suprema Inc.
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Lumidigm Inc.
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ZKTeco Inc.
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BioEnable Technologies Pvt. Ltd.
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Genkey Solutions B.V.
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IDEMIA Group (formerly OT-Morpho)
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Aware Inc.
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Zwipe AS
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M2SYS Technology
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Qualcomm Technologies Inc.
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Bio-Metrica LLC
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ValidSoft UK Limited
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Veridium Ltd.
Healthcare Biometrics Market Recent Developments
- In November 2022, BioIntelliSense, Inc., a company that provides continuous health monitoring and clinical intelligence, announced a collaboration with the Translational Research Institute for Space Health (TRISH) to advance understanding of human health in space.
- In November 2022, Keyo, a palm vein biometrics developer based in New York, is introducing an identity management network to provide physical and logical access control with a focus on privacy.
- In May 2021, Imprivata collaborated with Aware and Idemia to launch face biometrics for healthcare. It refers to a new mobile facial biometrics technology that is intended to make self-enrollment for electronic prescriptions for controlled substances (EPCS) easier and more compliant with Drug Enforcement Agency (DEA) regulations in the United States.
Healthcare Biometrics Key Market Trends
- According to the healthcare biometrics market trends, there is increasing the number of authentication factors that transforms the security of an access management solution into multi-factor authentication (MFA). MFA provides scalable, tiered levels of security that can be used to restrict access to the most sensitive data. Other than biometrics, medical history, databases, and other helpful information use different levels of MFA, incorporating a variety of factors such as passwords, secret questions, OTPs, location, user behaviour, registered mobile devices, and so on.
Healthcare Biometrics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global healthcare biometrics market analysis, Asia-Pacific is expected to grow at the fastest rate during the forecast period, owing to increased government investment in the region's healthcare infrastructure. The increased number of healthcare data, together with the expanding patient population, will serve as a significant driver, boosting the growth rate of the market. However, the global market has been hampered by rising cyberattacks targeting medical data and services. Medical records command higher prices on the dark web because of their valuable data, making them a prime target for criminals.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 5.2 billion |
| Market size value in 2031 | USD 22.03 billion |
| Growth Rate | 17.4% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Healthcare Biometrics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Healthcare Biometrics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Healthcare Biometrics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Healthcare Biometrics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Healthcare Biometrics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Healthcare Biometrics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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