Healthcare Biometrics Market to Propel at a CAGR of 15.5% to Hit a Revenue of US$ 74.08 Billion by 2028| Report by Transparency Market Research, Inc.

The global 𝐡𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐛𝐢𝐨𝐦𝐞𝐭𝐫𝐢𝐜𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 was valued at $22.92 billion in 2020, projected to grow at a 15.5% CAGR from 2021 to 2028, reaching $74.08 billion by 2028. Biometrics enhances security, privacy, and patient safety in healthcare, reducing fraud. Leading market players, mainly from the U.S., are expanding into emerging markets, leveraging technological advancements and digitalization to maintain competitiveness.

Biometrics authenticates individuals using biological traits. In healthcare, it verifies patients and staff, curbing fraud and improving safety and privacy. Advancements in technology and cost-effective devices drive its adoption, addressing security concerns and reducing healthcare expenses globally.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅:
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𝐌𝐚𝐣𝐨𝐫 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

3M Cogent, Inc.,Bio-Key International, Inc.,DigitalPersona, Inc.,NEC Corporation,M2SYS LLC,Cross Match Technologies, Inc.,Suprema, Inc.,Siemens AG.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

Technology

Fingerprint
Vein
Face
Iris
Voice
Hand
Signature
Others

Application

Logical Access Control
Physical Access Control
Transaction Authentication

𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠 𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐢𝐧 𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐒𝐞𝐜𝐭𝐨𝐫

Security has always been a paramount concern within the healthcare sector, particularly regarding the protection of confidential medical data, records, and patient privacy. Biometric devices play a crucial role in this domain by analyzing unique physical human features to create a reference template for user identification. This has prompted healthcare facilities worldwide to increasingly adopt biometric security solutions for patient identification and linking them to electronic health records systems.

The implementation of biometrics offers several advantages, including ensuring the integrity of patient identity, facilitating efficient and secure data recording, combating medical fraud, and reducing inventory theft. By accurately matching patients to their records, biometrics minimizes the risk of errors and prevents the mixing up of patient information, thereby safeguarding the health and well-being of individuals.

Furthermore, concerns such as false patient identity, patient protection, and the need to mitigate medical frauds and secure medical records have propelled the healthcare industry towards embracing biometric technologies.

𝐑𝐞𝐠𝐢𝐨𝐧𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝:

North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐚𝐧𝐝 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬:

Drivers:

Increasing adoption of electronic health records, Growing concerns about data security and patient privacy, Technological advancements in biometric solutions

Challenges:

Regulatory compliance issues, Integration complexities with existing healthcare systems, Concerns regarding biometric data storage and protection

𝐏𝐥𝐚𝐜𝐞 𝐚𝐧 𝐎𝐫𝐝𝐞𝐫 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
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𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

Integration of biometric authentication with wearable devices
Adoption of multimodal biometrics for enhanced security
Emphasis on interoperability of biometric systems with existing healthcare IT infrastructure

Future Outlook:

The healthcare biometrics market is expected to witness continued growth, driven by advancements in biometric technologies, increasing regulatory compliance requirements, and the growing focus on patient-centric care delivery models.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲 𝐏𝐨𝐢𝐧𝐭𝐬:

Adoption rate of biometric solutions among healthcare facilities
Impact of regulatory frameworks on market growth
Technological innovations and their influence on market dynamics
Competitive landscape and market positioning of key players

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐌𝐑:

𝐏𝐨𝐰𝐞𝐫 𝐒𝐩𝐨𝐫𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2022/12/06/2568683/0/en/Power-Sports-Market-to-Propel-at-a-CAGR-of-5-2-to-Hit-a-Revenue-of-US-57-2-Billion-by-2031-Report-by-Transparency-Market-Research-Inc.html

𝐏𝐫𝐨𝐬𝐭𝐡𝐞𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2022/12/06/2568643/0/en/Prosthetics-Market-to-Expand-at-6-0-CAGR-during-the-Forecast-Period-Reveals-latest-TMR-Study.html

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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