Healthcare Biometrics Market Supply, Demand, Cost Structure and Forecast 2019 to 2022

A variety of human features, such as face, fingerprint, iris, voice, vein, hand, and signature, appear to reveal several potential biometric authentication attributes. The use of biometrics with the aid of these physical characteristics, along with logical or physical access, or both have been found to be of global benefit in the healthcare field. However, improper medical data storage may pose a risk to the user’s identity and thus challenge patient safety. Biometric solutions facilitate the provision of limited access from unauthorized access to rooms or computer network networks.

As per Market Research Future (MRFR), the global healthcare biometrics market is estimated to grow USD 5.6 billion, with a CAGR of 22.3% from 2019 to 2022 (forecast period).

Market Dynamics

Even with the ongoing economic crisis, particularly in the European and Asian countries, healthcare organizations are investing in biometric technology to improve safety, privacy, and patient safety, thus compensating for the enormous amount of money lost in healthcare fraud. Companies that invest heavily in developing automated biometric systems with improved accuracy and response time may gain significant benefits in the near future. The introduction of new products with reduced costs and advanced capabilities of biometric security solutions at various conferences, laboratories, trade shows, webcasting, and electronic newsletters is further boosting the growth of  market competitors.

Market Segmentation

The global market for healthcare biometrics has been segmented into technology, application, and end-user.

On the basis of technology, the global market for healthcare biometrics has been segmented into face recognition, fingerprint recognition, vein recognition, behavioral recognition, iris recognition, palm geometry recognition, and others.

On the basis of application, the global market for healthcare biometrics has been segmented into patient identification, patient monitoring, medical record management, data security, and others.

On the basis of end-users, the global market for healthcare biometrics has been segmented into hospitals, research laboratories, healthcare institutes, and others.

Key Players

Some of the significant participants in the global healthcare biometrics market are Fujitsu Limited, 3M Cogent Inc., BioEnable Technologies, NEC Corporation, Morpho (A Subsidiary of Safran SA), Bio-Key International, Inc., Suprema, Inc., Crossmatch Technologies Inc., Integrated Biometrics, Imprivata Inc.