Dublin, March 28, 2023 (GLOBE NEWSWIRE) -- The "Global Healthcare Biometrics Market Size, Share & Industry Trends Analysis Report By Technology, By End User, By Application, By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
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.
COVID-19 Impact Analysis
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.
Market Growth Factors
Government programs to encourage the use of biometrics in healthcare
The Assemblee 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.
Incidents of healthcare data breaches are increasing
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.
Market Restraining Factor
High cost of deployment
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.
Scope of the Study
By Technology
- Fingerprint Recognition
- Voice Recognition
- Hand Recognition
- Vein Recognition
- Iris Recognition
- Face Recognition
- Others
By End-user
- Hospitals
- Healthcare Institutions
- Clinics
- Clinical Laboratories
By Application
- Medical Record & Data Center Security
- Patient Identification & Tracking
- Care Provider Authentication
- Home/Remote Patient Monitoring
- Others
By Geography
North America
- US
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- 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.)
- Suprema, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/x87vv5
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