The global healthcare biometric market is expected to reach USD 14.5 billion by 2025, according to a new report by Grand View Research, Inc. The migration of health system and hospitals to Electronic Health Records (EHR) and computerized physician order entry is expected to propel the demand for healthcare biometrics over the forecast period.
As more Healthcare Information Exchanges (HIE) are built across the network to coordinate care, the demand for technologies to combat data corruption and unauthorized access is expected to increase, thereby contributing to the market growth of healthcare biometrics during the forecast period.
Implementation of biometrics is expected to increase the security for patients, doctors, and nurses. The HIPPA has imposed stringent new regulations to safeguard confidentiality and privacy of patient information. These regulations are also expected to drive the deployment of biometrics in healthcare system, thereby contributing to the market growth over the forecast period.
Improvements in the existing technologies and the development of multipurpose authentication devices are expected to facilitate commercialization of advanced products. As a result, adoption of these devices is expected to escalate in the healthcare space in the near future.
The rise of consumerism in healthcare and increase in disposable income in emerging countries is also expected to boost the adoption of new technologies such as biometrics by health system, thereby propelling the market growth healthcare biometrics market during the forecast period.
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Further key findings from the report suggest:
The global face recognition technology market is anticipated to reach over 2.0 billion by 2025, at a CAGR of 23.0% from 2017 to 2025
In terms of technology, others segment which includes DNA analysis, retina analysis, and ECG analysis is expected to show the fastest growth during the forecast period
In terms of technology, iris recognition is also expected to show lucrative growth owing to its uniqueness as compared to other technologies
North America is expected to dominate the healthcare biometric market during the forecast period
Asia pacific is expected to show the fastest growth in healthcare biometric market over the forecast period
The market is partially consolidated and competitive in nature, with presence of global multinational players
Some of the key companies present in the market 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.
Grand View Research has segmented the global healthcare biometric market on the basis of technology and region:
Technology Type Outlook (Revenue, USD Million, 2014 - 2025)
Palm Geometry Recognition
Regional Outlook (Revenue, USD Million, 2014 - 2025)
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