Global Healthcare Biometrics Market to Reach US$ 10.7 Billion by 2027, Impelled by Rising Incidences of Security Breaches

December 02, 2022

The latest report by IMARC Group, titled "Healthcare Biometrics Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027," finds that the global healthcare biometrics market size reached US$ 3.7 Billion in 2021. Healthcare biometrics refers to biological measurements to authenticate and identify patients based on their physical or behavioral characteristics. It is adopted in the healthcare sector for providing access control to users. Some commonly used biometric identifiers are palm veins, fingerprints, face, iris, DNA, and retina. These traits are recorded and detected by electronic devices to authenticate individuals for secure entry and access to systems and data. It offers several benefits, such as medical record and data center security, care provider authentication, and remote patient monitoring. Owing to these properties, healthcare biometrics are widely utilized across hospitals, clinics, research, and clinical laboratories across the globe. 

Global Healthcare Biometrics Market Trends:

The market is primarily driven by the rising incidences of security breaches and the surging need for efficient security solutions to ensure patient identity integrity, safe data recording, and minimization of inventory theft. In addition, the increasing adoption of electronic health records (EHR) and computerized physician order entry by healthcare organizations represents another major growth-inducing factor. Besides this, the market is also driven by the growing utilization of biometric solutions in research and clinical labs to secure data equipment enclosures, devices, and platforms connected to the Internet of Things (IoT). Moreover, governments of numerous countries are implementing legislation to address patient data-related security concerns, which, in turn, is augmenting market growth. Furthermore, the introduction of multimodal biometric systems and the increasing usage of fingerprint recognition biometrics in childcare hospitals to eliminate newborn baby swaps and enable vaccination tracking are also creating a favorable market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 10.7 Billion by 2027, exhibiting a CAGR of 19.4% during the forecast period (2022-2027).

Market Summary:

  • Based on technology, the market has been categorized into single factor authentication (iris recognition, face recognition, signature recognition, hand recognition, voice recognition, fingerprint recognition, and others) and multi-factor authentication (biometric card, password, and others).
  • On the basis of the application, the market has been classified into medical record and data center security, patient identification and tracking, care provider authentication, home/remote patient monitoring, and others.
  • Based on the end user, the market has been segmented into hospitals and clinics, research and clinical laboratory, and others.
  • Region-wise, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined in the report, with some of the key players being Bio-Key International Inc., Fujitsu Limited, Hid Global Corporation (Assa Abloy AB), Imprivata Inc., NEC Corporation (AT&T Corporation), Nuance Communications Inc. (Microsoft Corporation), RightPatient, Suprema Inc., Thales Group and Zkteco Biometrics India Private Limited.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Healthcare Biometrics Market to Reach US$ 10.7 Billion by 2027, Impelled by Rising Incidences of Security Breaches
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