The Global Healthcare Biometrics Market size is expected to reach $14.5 billion by 2028, rising at a market growth of 17.0% CAGR during the forecast period.
In order to provide precise patient identification and patient monitoring, Biometrics are utilized in medical facilities, including clinics and hospitals. Applications include things like patient record storage and access control. In addition to creating applications like electronic prescriptions and remote diagnostics, Biometrics may monitor patients outside the typical healthcare settings.
Using biometric security solutions for patient identification and connecting them to the electronic health record system for their patients is increasingly becoming a priority for healthcare institutions. Some of the distinctive advantages biometrics provides are the preservation of the patient's identity, the effective and secure capture of data, the prevention of medical fraud, and the decrease in inventory theft. In addition, with Biometrics, patients and healthcare professionals have the right to protect and keep their information private by limiting access to those who need it.
Using demographic information such as first and last names, dates of birth, SSNs, and addresses as input, certain players in the healthcare industry have tried to enhance patient identification with wildly differing degrees of success. Information is susceptible to trade, theft, loss, forgery, typos, and duplication. Yet, a biometric identification like a fingerprint or face is unique to a particular individual.
Patient registration, or registering a patient identification, is the initial stage in biometrics-based protection. Biometric information, such as a patient's fingerprint, face, or iris, is gathered during registration. In order to avoid dual enrollment, existing data is checked for previous records. As part of this procedure, the quality and appropriateness of biometric matching are evaluated. The information and record are kept on a secure server if no duplicates are discovered.
The unprecedented COVID-19 pandemic has paralyzed global transportation. This pandemic is being fought globally, putting further strain on hospitals and medical staff. The long-term and significant effects of COVID-19 will be felt by biometrics businesses, developers, investors, and clients. The most immediate impact of Covid-19, according to the research "Impact of Covid-19 on Biometrics," released in April 2020, is that contactless technologies such as face and iris recognition are now required to address the developing danger. Government protection, monitoring, and screening powers are enhanced by the extraordinary development of biometric artificial intelligence (AI) and machine learning (ML) algorithms.
The Assemblée National of France approved Project 242-95, a new €20 million (about $20.4 million) initiative to create a biometric version of individuals' health cards. The initiative would involve the development of a biometric Carte Vitale with a chip holding the physical features of the insured, such as fingerprints, as part of the French government's financial relief package for the cost-of-living issue. The biometric card would therefore assist healthcare professionals in identifying patients and aid the government in its battle against fraud by being linked to the patient's bank account. Thus, these government measures will drive the demand for the healthcare biometrics market over the projected period.
In the healthcare industry, breaches are often reported. Personal Health Information (PHI) is more valuable on the black market than credit card information or standard Personally Identified Information (PII). Cybercriminals have a greater motivation to attack medical databases as a result. In addition, the PHI might be used or sold for their financial advantage. According to the health and human services breach report, approximately 15 million health records have been compromised as of this writing. As a result of these considerations, the market for healthcare biometrics is expanding.
The expense must be considered when choosing and implementing a contactless biometric system. Contactless fingerprint scanners use sensors to scan a pattern. These sensors can scan fingerprint patterns and produce a picture of them. The kind of sensor utilized in the biometric device determines how much a fingerprint recognition system will cost. The cost of iris and retina scanners is greater than other biometric devices. The high installation cost and high cost of biometric solution components hamper the demand for contactless technology from private and public businesses. As a result, the market for healthcare biometrics is constrained by the high implementation cost.
Based on technology, the Healthcare Biometrics Market is divided into Fingerprint Recognition, Face Recognition, Voice Recognition, Vein Recognition, Iris Recognition, Hand Recognition, and Others. The face recognition segment garnered the significant revenue share in 2021. Face recognition is a technique that uses a person's unique facial traits to identify or confirm them. It recognizes human faces in photos, videos, or live feeds and compares them to a database of faces. Face recognition may be integrated with auxiliary technologies like real-time emotion identification for more significant patient insights. The use of facial recognition technology in the healthcare industry has improved several processes.
Based on the application, the healthcare biometrics market is divided into patient identification and tracking, care provider authentication, home/remote patient monitoring, medical record and data center security, and others. The care provider authentication segment is showcasing the promising growth rate during the forecast period. Verifying the healthcare practitioners providing services and monitoring patients is crucial as identifying the patient getting these services. With illegal access by fraudsters, the likelihood of problems like prescribing incorrect medicine to patients and medical data hacking dramatically increases. Biometric technology is widely used in healthcare organizations to reduce these occurrences.
Based on end-user, the Healthcare Biometrics Market is divided into Hospitals, Clinics, Clinical Labs, and Healthcare Institutions. The healthcare institutions segment attained the prominent revenue share in 2021. Due to the growing use of biometric solutions to protect data equipment enclosures, pedestrian entries, devices, and platforms linked to the Internet of Things (IoT) and to control workflows, this market is expected to rise rapidly.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 4.9 Billion |
| Market size forecast in 2028 | USD 14.5 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 17% from 2022 to 2028 |
| Number of Pages | 267 |
| Number of Table | 424 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Technology, Application, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on region, the Healthcare Biometrics Market is divided into North America, Europe, Asia Pacific, and LAMEA. Since there are so many frauds and crimes in the healthcare industry, North America led the market in 2021 and is expected to continue to expand at the quickest rate over the forecast period for the healthcare biometrics market. It is anticipated that the frequency of fraud will hasten the deployment of these technologically sophisticated biometric technologies for gathering patient and registration data. Additionally, a significant factor in the region's development in this market may be the construction of new healthcare facilities, including hospitals and clinics.
Free Valuable Insights: Global Healthcare Biometrics Market size to reach USD 14.5 Billion by 2028
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Nuance Communications, Inc. is the forerunner in the Healthcare Biometrics Market. Companies such as Fujitsu Limited, HID Global Corporation, Genkey Solutions B.V. are some of the key innovators in Healthcare Biometrics Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fujitsu Limited, Genkey Solutions B.V, BIO-key International, Inc., Nuance Communications, Inc. (Microsoft Corporation), HID Global Corporation (Assa Abloy AB), NEC Corporation, Imprivata, Inc. (Thoma Bravo, LLC), Integrated biometrics, Inc., IDEMIA SAS (Advent International, Inc.), and Suprema, Inc.
By Technology
By End User
By Application
By Geography
The global Healthcare Biometrics Market size is expected to reach $14.5 billion by 2028.
Government programs to encourage the use of biometrics in healthcare are driving the market in coming years, however, High cost of deployment restraints the growth of the market.
Fujitsu Limited, Genkey Solutions B.V, BIO-key International, Inc., Nuance Communications, Inc. (Microsoft Corporation), HID Global Corporation (Assa Abloy AB), NEC Corporation, Imprivata, Inc. (Thoma Bravo, LLC), Integrated biometrics, Inc., IDEMIA SAS (Advent International, Inc.), and Suprema, Inc.
The expected CAGR of the Healthcare Biometrics Market is 17.0% from 2022 to 2028.
The Hospitals segment acquired maximum revenue share in the Global Healthcare Biometrics Market by End User in 2021 thereby, achieving a market value of $8 billion by 2028.
The North America market dominated the Global Healthcare Biometrics Market by Region in 2021 and would continue to be a dominant market till 2028; thereby, achieving a market value of $5.1 billion by 2028.
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