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New study: Healthcare biometrics market to hit 19.2% CAGR and projected to reach $ 2,848.3 million by 2021

New study: Healthcare biometrics market to hit 19.2% CAGR and projected to reach $ 2,848.3 million by 2021

Prominent players in healthcare biometrics market are NEC Corporation (Japan), Fujitsu Limited (Japan), 3M Cogent, Inc. (U.S.), Morpho (a subsidiary of Safran SA (France)), Imprivata, Inc. (U.S.), Suprema Inc. (South Korea), BIO-key International, Inc. (U.S.), Crossmatch Technologies, Inc. (U.S.), Lumidigm (a subsidiary of ASSA ABLOY Sweden)), and ZKteco, Inc. (China).

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The healthcare biometrics market is projected to reach USD 2,848.3 Million by 2021 from USD 1,182.6 Million by 2016, at a CAGR of 19.2% during forecast period. The growth of this market is majorly driven by government initiatives to support implementation of biometrics in healthcare facilities and increasing healthcare fraud & medical identity theft.

On other hand, high cost of biometric devices and issues related to the use of biometric technologies are major factors limiting growth of market.

Complete Report on Healthcare Biometrics Market spread across 217 Pages, Profiling 11 Companies and Supported with 209 Tables and 45 Figures is now available at www.rnrmarketresearch.com/healthca…arket-report.html .

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Healthcare biometrics market growth can be attributed to increasing government initiatives to ensure data protection and the security of healthcare facilities and presence of large number of prominent players. Owing to this, biometric technologies are increasingly being adopted to comply with stringent laws such as HIPAA and HITECH.

Healthcare Biometrics Market, by Application

  • Patient Identification & Tracking
  • Medical Record Security & Data Center Security
  • Care provider authentication
  • Home/remote patient monitoring
  • Pharmacy dispensing
  • Others (Includes narcotic security and counter insurance frauds)

The global healthcare biometrics market is dominated by North America, followed by Europe. North American market is expected to grow at the highest CAGR of 20.2% during the forecast period.

This growth can be attributed to increasing government initiatives to ensure data protection and the security of healthcare facilities and presence of large number of prominent players. Owing to this, biometric technologies are increasingly being adopted to comply with stringent laws such as HIPAA and HITECH.

Click Now for PDF Sample Download of this Study Report

www.rnrmarketresearch.com/contacts…mple?rname=604872 .

North America commanded largest share of global healthcare biometrics market in 2015, followed by Europe. North America commanded largest share of global market in 2015 and is expected to grow at the highest CAGR of 20.2% during forecast period.

This growth can be attributed to increasing government initiatives to ensure data protection and the security of healthcare facilities and presence of large number of prominent players. Owing to this, biometric technologies are increasingly being adopted to comply with stringent laws such as HIPAA and HITECH.

Healthcare biometrics market is segmented into healthcare institutions, research & clinical laboratories, and hospitals & clinics. Healthcare institutions segment is expected to dominate the market and grow at highest CAGR during forecast period.

High growth of this segment is attributed to the increasing adoption of biometric solutions to secure data equipment enclosures, pedestrian entrances, devices, and platforms connected to Internet of Things (IoT) and manage workflows.

Connect for More Details for More Information “Healthcare Biometrics Market by Technology (Single-factor (Fingerprint, Face, Iris, Palm, Behavioral (Signature, Voice)), Multifactor, Multimodal), Application (Workforce Management), End User (Hospitals, Healthcare Institutions) - Global Forecast to 2021” report @ www.rnrmarketresearch.com/contacts…ying?rname=604872 .

The Health Insurance Portability and Accountability Act of 1996 (HIPAA) was passed as a federal law in the U.S. to safeguard the confidentiality of Electronic Protected Health Information (EPHI) of patients.

Under this law, covered entities such as healthcare clearing houses, health plans, and healthcare providers, who transmit EPHI as a part of their business, are obligated to employ reasonable and appropriate levels of security to control access to EPHI.

The single-factor authentication market is further categorized by technology into face recognition, iris recognition, palm geometry recognition, fingerprint recognition, vein recognition, behavioral recognition, and other authentication technologies. Vein recognition is expected to grow at the highest CAGR during the forecast period due to its accuracy, fast recognition, and contactless.

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