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.
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Healthcare biometrics market dominated by North America, followed by Europe. North American market is expected to grow at highest CAGR of 20.2%.
This growth can be attributed to increasing government initiatives to ensure data protection & security of healthcare facilities and presence of large number of prominent players.
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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)
Healthcare biometrics marketgrowth 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.
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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.
2 Market Share Analysis
3 Competitive Situations and Trends
4 New Product Launches
5 Partnerships & Collaborations
6 Expansions & Investments
Healthcare biometrics market highly competitive. Prominent players healthcare biometrics market include 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.
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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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