Healthcare Biometrics Market 2019 | Develop Improving Technology By Top Players BIO-key International, Fujitsu Limited, MorphoTrust, 3M Cogent, Inc., Imprivata, Inc., Crossmatch Technologies, Inc., NEC Corporation, Hitachi Ltd., Integrated Biometrics

Frauds and operational inefficiencies are overriding healthcare administration concerns and needs to be addressed soon for overall profitability and improved efficiency. Use of biometrics ensures safety and controlled access. Healthcare insurers are inundated with fraudulent claims.

According to the Coalition against Insurance Fraud—an anti-fraud watchdog group—nearly US$ 80 billion is lost annually in Medicare fraud in the U.S. Besides, giving every patient a digital identity is being increasingly adopted as a practice in hospitals to ease processing at every functional level. Healthcare companies and organizations are actively integrating healthcare IT to aid cost reduction, secure patient information and allow for only authorized access.

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Increasing adoption of mHealth and electronic health record among hospitals is major factor fueling growth of the market. Data security becomes critical with the use of digital platforms as underlines by the Health Insurance Portability and Accountability Act (HIPAA) of 1996, which is augmenting growth of the healthcare biometrics market. Furthermore, increasing utilization of fingerprint biometric technology by various sectors is boosting market growth, owing to its ease of access to functional departments and documents.

Various advancements in technology have led to commercialization of a number of biometric solutions for healthcare such as user identification using the face, iris, hand, voice, fingerprint, vein, and signature. This has significantly bolstered the healthcare biometrics market growth. The North America healthcare insurance market in highly fragmented, with several loopholes in the system that are exploited by fraudsters. Therefore, potential for biometrics is considerably high in this region. Besides, growing demand for healthcare IT integration in Asia Pacific and Latin America regions is projected to support the rapid adoption of biometrics in healthcare sector.

Developed economies such as North America are adopting biometric systems in healthcare sector to secure data and prevent fraud, especially for those enrolled in clinical trials. Increasing incidences of data theft is propelling demand for enhanced security of patient data, which is expected to create a highly conducive environment for growth of the market in near future.

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For instance, Celerion—a clinical research service provider—has implemented fingerprint biometric technology in early 2017, to ensure that participants are not enrolled in more than one clinical study at a time. Biometric access control specialist, ievo Ltd, based in the U.K., partnered with Keytracker Ltd. (also based in the U.K.) in February 2017, to offer restricted key access system to the healthcare and construction industries. The fingerprint-based technology is intended to provide access to drug storage area only to the authorized personnel. Such collaborations are imperative in global healthcare biometrics market for market expansion.

Some of the major players involved in global healthcare biometrics market include BIO-key International, Fujitsu Limited, MorphoTrust, 3M Cogent, Inc., Imprivata, Inc., Crossmatch Technologies, Inc., NEC Corporation, Hitachi Ltd., Integrated Biometrics, and Qualcomm Technologies, Inc.

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