- Physical Access Control
- Logical Access Control
- Transaction Authentication
The global healthcare biometrics market size valued USD 14.2 billion at a CAGR of 25.8% during forecast period 2022 to 2028. Biometrics is a vital tool in data threats and cyber threats. Biometric system is used across various industries like banking, defense, healthcare, mobile and technology, government, security. Biometric system plays an essential role in healthcare industry which enables the proper security of IT processes related to healthcare data by preventing free access to data by identifying individual features like palm prints, fingerprints, voice, DNA, face, and others.Â As per, Identity Theft Resource Centre Report 2014, about 45% of all data violations of identity thefts are from the healthcare industry. Healthcare Biometrics is fast-growing and propitious field in security systems and personal authentication sector. Healthcare Biometrics is a highly competitive market with many numbers of market players. Market players in global healthcare biometrics market are focused on the inorganic and organic growth of companies by adopting various growth strategies such as new product launches, acquisitions, and mergers, collaborations, and partnerships, investments, and investments in R&D activities. Market players of healthcare biometrics market are expected to enhance their technologies in order to provide most secure access systems. Vein and iris recognition technologies are most secure technologies in healthcare biometric systems among others. Governments of various countries are providing various regulations for biometric security systems such as Health Insurance Portability and accountability act (HIPAA) which is enforced by the Medicare and Medicaid Services (CMS) and Electronic Protected Health Information. Furthermore, technology developments, followed by product development, will improve biometrics' value proposition for the healthcare industry.
Fastest Growing Market
The Growing incidence of healthcare frauds, rise in demand for alternatives for passwords, wide range of financial benefits regarding healthcare biometrics are major factors expected to fuel growth of global healthcare biometrics market. As per, Coalition Against Insurance Fraud reported that about USD 80 Bn is annually lost in the US in Medicare fraud. Moreover, growing adaptability of biometrics system in healthcare sectors such as research labs, clinical laboratories, and hospitals increase in technological advancements are few other factors which are expected to propel growth of healthcare biometrics market. On the other side, security and convenience trade-off and biometric template storage are restraints of healthcare biometrics market.
2021 is the base year and 2028 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.