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Healthcare biometrics market accounted for USD 2.21 Billion in 2019 and is expected to reach USD 10.61 Billion by 2028, growing at a CAGR of 25.09%
— Prakash Torase
SUITE N202, NEW YORK, UNITED STATES, September 6, 2022 /EINPresswire.com/ — As per study of Zion Market Research, Healthcare Biometrics industry garnered revenue worth nearly US$ 3.95 billion in 2021 and is anticipated to gain returns about US$ 12.35 billion by 2028. In addition to this, Healthcare Biometrics market is prognosis to record CAGR of almost 25.09% in 2022-2028. Apparently, prominent growth of healthcare biometrics market over forecast timespan can be credited to ability of biometrics in bringing security & convenience of healthcare service providers as well as patients. In addition to this, growing demand for remote patient monitoring activities along with rigorous need for biometric authentication in healthcare sector will enhance expansion of healthcare biometrics industry over ensuing years. Remote healthcare monitoring of patients through biometric readings facilitates medical interventions in real time, thereby creating lucrative growth avenues for healthcare biometrics industry. Biometrics in healthcare sector is used for improving patient outcomes and workforce efficiency. Rise in penetration of smartphone supported by Internet of Things and Big Data analytics tools has enhanced use of biometrics in healthcare sector. This will expand scope of healthcare biometrics market growth.
Multi-Factor Authentication To Lead Technology Segment In 2022-2028
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Growth of Multi-factor authentication segment over forecast timespan is subject to ability of multi-factor authentication biometric technique in offering scalable & tiered security levels that can be installed for controlling easy access to sensitive healthcare information. Multi-factor authentication is deployed for monitoring medical databases, authenticity of healthcare information, and identifying & tracking other vital information regarding health & medical history of patient.
North American Market Growth Trajectory To Witness Upward Trend In Forecasting Timeframe
Regional market expansion over forecast timeline can be due to rise in frauds & crimes observed in medical sector. Technical glitches experienced in various kinds of healthcare authentication instruments have enhanced popularity and use of biometrics in healthcare sector across sub-continent. Apart from this, setting up of new healthcare units such as clinics, ambulatory or outpatient care centers, and hospitals in the U.S. and Canada will prompt regional market upsurge over years ahead.
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Some of key participants have strongly leveraged market size and are likely to do so even in next couple of years. They include Lumidigm, NEC Corporation, Crossmatch Technologies, Inc., BIO-key International Inc., Cogent Systems, Inc., Fujitsu Limited, Morpho, Inc., Suprema Inc., Imprivata, Inc., and ZKteco, Inc.
Browse the full “Healthcare Biometrics Market By Technology (Single-Factor Authentication, Multi-Factor Authentication) By End-User (Healthcare Institutions, Hospitals & Clinics, Research & Clinical Laboratories) By Application (Care Provider Authentication, Home/Remote Patient Monitoring, Patient Identification & Tracking, Pharmacy Dispensing, Medical Record Security & Data Center Security, Others): Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2026.” Report
Global Healthcare Biometrics Market: Segmentation
The multi-factor authentication segment is expected to grow at the highest CAGR. Multi-factor authentication has evolved significantly within the healthcare industry due to its role in ensuring both security and reliability. According to the Office of the National Coordinator for Health Information Technology, the use of multi-factor authentication by non-federal acute care hospitals has expanded 53 percent since 2010.
On the basis of single-factor authentication, vein recognition is anticipated to grow at the highest CAGR during the forecast period. It is known to be a secure and extremely safe biometric modality because palm vein biometrics rely on detecting the vein pattern under the skin. Unlike biometric fingerprint technology that relies on the skin integrity on the fingertip for accurate recognition and can be adversely affected by wounds, bruises, and dirt, however, the integrity of the skin is not an issue with the vein recognition.
Based on end users, the healthcare sector is expected to dominate the market and develop at the highest CAGR in the forecast era. Increased use of biometric solutions to protect data equipment enclosures, pedestrian platforms linked to the Internet of Things (IoT) and workflow management are the factors driving the market.
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In terms of application, the medical record and data center security segment is the fastest growing segment in the Healthcare Biometrics industry. As Electronic Health Records (EHRs) are increasingly implemented in medical centers, concerns about the protection of information sharing and data privacy have increased as it is essential to properly maintain, store and link medical and sensitive patient data through networks. Biometric technologies provide healthcare professionals and health data center operators with reliable, effective and convenient solutions in this regard. Biometric systems ensure that access is given only to approved persons, in particular in the case of sensitive specimens in data centers, confidential patient details and ongoing patent studies.
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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