Global Healthcare Biometrics Market

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 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 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).

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. 'Bio-Key International, Inc.', 'NEC Corporation', ' 3M Cogent Inc.   ', ' Fujitsu Limited   ', ' Crossmatch Technologies Inc.   ', ' Safran Identity & Security (Morpho)   ', ' Imprivata Inc.   ', ' Suprema Inc.   ', ' Lumidigm Inc.   ', ' ZKTeco Inc.   ', ' BioEnable Technologies Pvt. Ltd.   ', ' Genkey Solutions B.V.   ', ' IDEMIA Group (formerly OT-Morpho)   ', ' Aware Inc.   ', ' Zwipe AS   ', ' M2SYS Technology   ', ' Qualcomm Technologies Inc.   ', ' Bio-Metrica LLC   ', ' ValidSoft UK Limited   ', ' Veridium Ltd. '

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.

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.

As a result of the higher number of crimes and frauds in the healthcare system, North America is expected to dominate the 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.

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Global Healthcare Biometrics Market

Report ID: SQMIG35G2096

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