Healthcare Biometrics Market Share, Industry Analysis [2031]

Report Description

The global healthcare biometrics market size was USD 5.8 Bn in 2022 and is likely to reach USD 25 Bn by 2031, expanding at a CAGR of 17.5% during 2023–2031. The market growth is propelled by the ­­incorporation of technological advancements in the medical sector to enhance security, scalability, and accountability in healthcare operations.

Healthcare biometrics systems help healthcare professionals in identifying biologically unique traits of the patients such as fingerprints, face, voice, and iris. The reliable and consistent flow of data from healthcare facilities is a critical component in providing the quality and availability of healthcare services.

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The data gathered from healthcare biometrics tools is used to provide personalized and highly coordinated care to patients. The data gathered through healthcare networks aid healthcare workers in the clinical management of patients, facility management, and resource planning. Healthcare professionals are increasingly using healthcare biometrics to remotely diagnose the health of the patient and prescribe drugs accordingly.

Patients prefer healthcare biometrics due to the lesser or complete elimination of medical errors and precise identification of physical attributes for a comprehensive healthcare regime. The physicians can securely share patient data with each other and access up-to-date and accurate information in adversarial situations.

The market report finds that the COVID-19 pandemic has positive impact on the market due to preventive measures adopted by the governments to curb the spread of the virus and the subsequent need for contactless technologies to provide patient care in healthcare facilities or remote environments. Healthcare professionals are relying on healthcare biometrics tools to gather information about patients to provide efficient and comprehensive care.   

Healthcare Biometrics Market Dynamics

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Major Drivers

Rising awareness about gathering patient data to effectively organize care modules is expected to drive the market. Healthcare biometrics systems provide up-to-date and accurate information at the point of service, enabling healthcare professionals to devise an effective healthcare strategy for patients. The data gathered through healthcare biometrics tools promote safe prescribing practices and care schedules. 

Existing Restraints

The high cost of healthcare biometrics systems is likely to hinder the market. Healthcare establishments invest in healthcare biometrics tools to provide personalized care services to the patient. The same cost is passed on to the patients. This factor can restrain the market in the coming years.

Emerging Opportunities

The rising integration of contactless biometric authentication in healthcare establishments is likely to create significant opportunities for the market. Healthcare biometrics systems reduce the risks associated with medical identity theft and data breaches. Moreover, the adoption of the Internet of Things (IoT) in the healthcare sector to provide remote patient monitoring and interactive patient care creates lucrative opportunities for the market.

Scope of the Healthcare Biometrics Market Report

The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Healthcare Biometrics Market Segment Insights

Based on technology, the global healthcare biometrics market is segregated into face recognition, fingerprint recognition, iris recognition, palm recognition, vein recognition, and behavioral recognition. The fingerprint recognition segment is expected to expand at a significant growth rate during the projection period owing to the high reliability, easy availability, and accessibility of fingerprint recognition systems.  The fingerprint recognition systems can be easily installed as they are portable, modular in size, and can be easily accessed.

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On the basis of authentication type, the global market is segmented into multi-factor, multimodal, and single-factor. The multi-factor segment is projected to register a considerable CAGR during the forecast period due to the advanced security provided by the multi-factor authentication systems.

Multi-factor authentication systems provide two or more verification methods to access for accessing patient data. The MFA solution provides additional security to the patient data used for diagnosis and treatment of the health complications of the patients.

Based on application, the global healthcare biometrics market is segregated into remote patient monitoring, care provider authentication, medical record & data security, and patient identification & tracking. The medical record & data security segment is expected to expand at a significant growth rate during the projection period owing to rising concerns about patient data theft in medical establishments.

According to the report published by the U.S. Department of Health & Human Services in March 2023, 385 million records of patients may have been stolen due to security breaches in digital storage systems between 2010 to 2022. Healthcare professionals are demanding comprehensive and secured patient data storage systems in their establishments such as clinics, hospitals, and research institutes.

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On the basis of end-user, the global market is segmented into clinics, hospitals, healthcare institutions, and laboratories. The hospitals segment is projected to register a considerable CAGR during the forecast period due to enhanced features provided by healthcare biometrics systems to reduce operational complexities involved in patient management services. The biometrics systems help hospital administrators to organize the workflow in a such way that patient recognition and record duplication are avoided in the patient data management systems.

Regional Outlook

In terms of region, the global healthcare biometrics market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period owing to the exponential growth of data volume in the healthcare sector and the subsequent need for patient identification systems.

Healthcare institutions such as clinics, hospitals, and research institutes are exposed to numerous vulnerabilities related to hacking and phishing incidents. Healthcare biometrics systems provide enhanced security to the patient with multiple types of authentication methods.

The market in Europe is anticipated to expand at a rapid pace during the forecast period owing to the rising concerns about the safety of medical data and the necessity of digital tools for patient identification and tracking. Regulatory provisions in the region promote patient record safety and safe authentication methods to provide patient care in a remote or in-house setup. The government initiatives to promote digital technologies in the medical sector are also propelling the market significantly.

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