Healthcare Biometrics for Children Market to Witness Exponential Growth

Healthcare Biometrics for Children Market Outlook 2031

The global healthcare biometrics for children market was valued at US$ 179.1 Mn in 2021

The global market is projected to advance at a CAGR of 22.3% from 2022 to 2031

The global healthcare biometrics for children market is anticipated to reach more than US$ 1.30 Bn by the end of 2031

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Healthcare Biometrics for Children Market Introduction

Biometric technology in healthcare enables healthcare professionals and patients to secure their information and keep it confidential by releasing it to only those who with rightful access. Healthcare organizations are investing in biometric technologies in order to increase security, privacy, and improve patient safety, and compensate the significant money lost in healthcare frauds. Palm vein technology in healthcare for biometric authentication uses palm veins as the biometric feature. Palm vein patterns are usually captured using near-infrared light via either reflection or transmission methods.

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Currently, the number of children aged 0 to five years stands at 600 million globally, while 353,000 new babies are born every day on an average. The need for biometric technology in healthcare sector is increasing, especially for child recognition, as majority of these births take place in developing countries, where children lack any kind of identification.

The global healthcare biometrics for children market size is driven by the increase in usage of biometric system in the implementation of vaccine programs and for identification of missing children. Recent improvements in the healthcare biometrics for children market, such as introduction of innovative biometric medical devices, have led to a growth in demand for these devices.

Rise in Usage of Biometric System in Implementation of Vaccine Programs and Identification of Missing Children to Drive Global Market

The burden of various chronic diseases is expected to rise significantly across the globe in the next few years. Global demand for vaccination in children for prevention of major chronic diseases is increasing. Around 1.5 million children die each year globally from illnesses that could have been prevented through vaccination. India is one of the countries most affected by this issue. This is not only due to the lack of availability of vaccinations, but also the lack of maternal and children's medical records in poverty-stricken and rural areas.

Incidence of missing children, especially in highly populous countries such as India and China, has increased in the past few years. This requires innovative biometrics systems, which record all activity related to children. According to the Federal Bureau of Investigation, an estimated 460,000 children are reported missing in the U.S. every year. Hence, increase in need of biometric system for children to maintain vaccination record is likely to drive the global healthcare biometrics for children market during the forecast period.

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Ability to Identify and Verify an Individual to Augment Fingerprint Technology Segment

Based on technology, the fingerprint segment accounted for significant share of the global market in 2021. Fingerprint recognition is referred to as verification of two or more human fingerprints, either through automated or non-automated methods, for authentication. It is widely used in biometric systems, which help in identification and verification of an individual. The modern approach entails utilization of fingerprint readers working on optical, thermal, silicon, or ultrasonic principles.

Application of the fingerprint recognition technology is easy and relatively inexpensive. Usage of fingerprint recognition biometrics in healthcare eliminates newborn baby swaps and enables tracking of child vaccination schedules and welfare. For instance, in June 2019, Gavi, NEC, and Simprints deployed the world's first scalable child fingerprint identification solution to boost immunization in developing countries. This solution gives children aged one to five a digital ID linked to an accurate, complete medical record.

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Growth in Number of Child Deaths Propelling Tracking Child Vaccination Schedules and Welfare Segment

In terms of application, the tracking child vaccination schedules and welfare segment held major healthcare biometrics for children market share in 2021. Biometric systems are commonly used for tracking and maintaining child vaccination schedule and welfare. Increase in number of child deaths due to non-receipt of lifesaving vaccination at the appropriate time is another major factor propelling the segment. According to recent study, 2.5 million children die across the globe every year, since they do not receive lifesaving vaccinations at the appropriate time.

Increase in Demand for Advanced Biometric Systems that Track Child Activities Bolstering Hospitals Segment

Based on end-user, the hospitals segment is likely to account for major share of the global healthcare biometrics for children market during the forecast period. Growth of the segment can be ascribed to factors such as rise in adoption of biometric systems in hospital settings. Increase in number of hospitals and rise in demand for advanced biometric systems that track child activities are factors driving the segment. Globally, an estimated 650 million children are not registered at birth, creating foundational barriers to accessing education, healthcare, and other essential services. For instance, just 7% of children in the world's poorest countries are fully vaccinated, in parts, because it is difficult to identify them and track their vaccination over time. This indicates an increase in need for biometric systems in hospitals for child care.

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Regional Outlook of Global Healthcare Biometrics for Children Market

North America held the largest share of around 45% of the global healthcare biometrics for children market in 2021. The healthcare biometrics for children market analysis appears lucrative in North America, with high market attractiveness index. North America's dominance of the global healthcare biometrics for children market can be ascribed to the increase in incidence of missing children in the region. Additionally, rise in need of biometric systems in birth registration is likely to augment the healthcare biometrics for children market in North America during the forecast period. The U.S. dominated the market in North America owing to factors such as presence of key market players and increase in the demand for biometric systems in hospitals settings.

Asia Pacific is projected to be the fastest growing market for healthcare biometrics for children during the forecast period. The market in the region is anticipated to grow at a high CAGR from 2022 to 2031. High birth rate in India and China; and increase in cases of missing children are key factors expected to propel the market in the region in the next few years.

Analysis of Key Players in Global Healthcare Biometrics for Children Market

The global healthcare biometrics for children market is consolidated, with the presence of small number of leading players. Most of the companies are investing significantly in research & development activities, primarily to introduce innovative biometric systems for children. Expansion of product portfolio and mergers & acquisitions are the key strategies adopted by the key players in the global healthcare biometrics for children market. Simprints, Crossmatch (HID Global), M2SYS Technology, IDEMI, Fujitsu Ltd., NEC Corporation, and Element, Inc. are key the players operating in the market.

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Key Developments in Global Healthcare Biometrics for Children Market

In June 2019, Gavi, the Vaccine Alliance, NEC Corporation, and Simprints Technology Ltd. signed a memorandum of understanding on the usage of biometrics to improve immunization coverage in developing countries
In January 2018, Fujitsu launched PalmSecure, a new product based on palm vein recognition technology, to improve the lives and outlook of millions of children living on the streets in India

In November 2017, Element, Inc., a biometric software developer, partnered with the Global Good Fund to develop a smartphone-based, non-touch biometric platform capable of using unique biological identifiers of infants and children to verify their identity

Each of these players has been profiled in the healthcare biometrics for children market report based on parameters such as company overview, business strategies, product portfolio, business segments, and recent developments.

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