Healthcare Biometrics Market Size, Share & Trends Analysis Report By Technology (Face, Fingerprint, Iris, Vein, Palm Geometry, and Behavioral Recognition), And Segment Forecasts, 2018 - 2025

Report Overview

The global healthcare biometrics market size to be valued at USD 14.5 billion by 2025 and is expected to grow at a compound annual growth rate (CAGR) of 24.2% during the forecast period. The major driving parameters attributing to the growth of this market are rising healthcare IT application combined with increasing awareness and demand for cyber security and biometric development catering to the healthcare facilities.

This is further strengthened by the launch of government programs such as the National Health Assurance Mission in India. Certain other parameters impacting the growth of this market are the assurance that the treatment undergone is safe for the patient, as well as the treatment, being as little time to consume as possible. An example of the same is the system launched by Genkey Solutions B.V based out of Netherlands in the African region, in 2012 this company installed systems for medical claim systems in Ghana which by 2014 enabled more than five million users to undergo cashless treatment.

Facilitating advancement of these products can be credited to the development of multipurpose authentication devices and up gradation in the existing technologies, hence assisting in market growth over the forecast period. For example, a system named RightPatient solution launched by University Health System in August 2016, includes Epic EHR (Electronic Health Record) combined with facial recognition technology. This helps patients gain direct access to the registration records and medical history. The Indian government started with a new system under the National Health Assurance Mission, a database facility known as the Aadhar Card. The main utility of this facility is to provide all the citizens of the country with healthcare services in the affordable range. 

Healthcare Biometrics Market Trends

Increasing adoption of contactless biometric authentication is a primary driver for the growth of the market. Growing incidences of healthcare data breaches & medical identity theft also drive the market growth, as nothing substitutes for safeguarding our information. Moreover, the government initiatives to implement biometrics in healthcare facilities support the adoption of biometrics in the healthcare sector.

The increasing cost of biometric devices and issues related to using biometric technologies are the major restraints of the market. Lack of knowledge about the biometric market is another restraint of this market. However, increasing integration of biometric systems with IoT devices is expected to drive market growth in the forecast period.

Biometric authentication uses additional software to process requests, which is necessitated to run as per the hospital’s EHR platform & other applications. The current technology is compatible only with the older version of windows.  Many hospitals across the globe have updated their systems, thereby generating opportunities for the biometric business.

Technology Insights

The market is segmented on the basis of technology as face recognition, vein recognition, palm geometry recognition, fingerprint identification, and behavioral recognition. Behavioral recognition is further segmented. The sub-segments namely are based on type and technology.

Due to its wide adoption and higher reliability, fingerprint recognition holds the largest market share of about 40.0% in 2016. Furthermore, the high-security facility provided by the DNA analysis system is expected to facilitate the growth of the electroencephalogram and DNA based recognition technology over the forecast period.

Regional Insights

The North American region held over 40.0% of the shares in 2016, due to the high number of frauds and crimes occurring in the healthcare sector. The presence of high incidence of fraudulent activities is expected to increase the rate of adoption of these technologically advanced biometric systems to gather patient data and registration data. Further, due to the establishment of new healthcare facilities such as hospitals and clinics may act as a primary driving force for the growth of this market in the region.

Asia Pacific, on the other hand, is expected to record the fastest growth due to factors such as rising government support, the emergence of IoT applications along with increasing healthcare IT development and digital patient monitoring system. In addition, the new government led schemes and rising lapses in database security are also expected to facilitate the market growth in the forecasted period.

Key Companies & Market Share Insights

Key market players of the healthcare biometrics sector include NEC Corporation, Fujitsu, 3M, MorphoTrust, Imprivata, Inc., Suprema, BIO-key International, Crossmatch, Hitachi Ltd., Integrated Biometrics, Genkey Solutions B.V., Agnitio, Nuance Communications, Inc., and Qualcomm Technologies, Inc. With 3M being one of the major players in the market. The major trends observed in this sector are integrated biometric systems as well as DNA-based recognition systems.

Joint ventures and collaborations amongst the players can be expected in the forecast period. These systems combined with rising awareness levels and seamless integration solution systems across different verticals are a few key strategies that are expected to be implemented by the players.

Recent Developments

• New technologies including electrocardiogram (ECG) and electroencephalogram (EEG) are expected to increase market growth. These procedures trace the individual's brain and heart patterns and allow for increased fraud resistance.

• Banks all around the world are gradually adopting biometrics to authenticate clients. Majority of customers expect easy access to services. Passwords fail to meet these standards, so biometrics is expected to be a viable solution. For example, the visa has outlined a "Future of Security Roadmap" in which biometrics validate electronic payments. The organization collaborated with the FIDO Alliance, which uses fingerprint, iris scanners, voice, and facial recognition, to strengthen the roadmap.

Healthcare Biometrics Market Report Scope

Global Healthcare Biometrics Market Segmentation

This report forecasts revenue growth and provides an analysis on the industry trends in each of the sub-segments from 2017 to 2025. For the purpose of this study, the market has segmented the healthcare biometrics market report on the basis of technology, and region:

• Technology Outlook (Revenue, USD Million, 2014 - 2025)

  • Face recognition

  • Fingerprint recognition

  • Iris recognition

  • Vein recognition

  • Palm geometry recognition

  • Behavioral recognition

    • By Technology

      • Signature recognition

      • Voice recognition

      • Others

    • By Type

      • Single factor recognition

      • Multi factor authentication

      • Multimodal authentication

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • The U.K.

    • Germany

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa

    • Saudi Arabia