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Strong Growth Ahead: Healthcare Biometrics Market Size To Grow At Arecord 21.8% Cagr By 2029
Healthcare Biometrics Market
How Big Is the Healthcare Biometrics Market Size Expected to Be by 2034?
The healthcare biometrics market size will grow from $8.46 billion in 2024 to $10.32 billion in 2025 at a CAGR of 22.0%. Factors driving this growth include rising identity theft and fraud, concerns over data security and privacy, reduction in administrative errors, cost savings, and increased funding for healthcare.
The healthcare biometrics market size is expected to grow to $22.72 billion in 2029 at a CAGR of 21.8%. Growth factors include the adoption of electronic health records, demand for patient data security, improved patient identification systems, rising healthcare spending, and growing acceptance of biometric technologies. Major trends include technological advancements, multimodal biometrics, AI and machine learning integration, interoperability standards, and IoT device integration.
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What Are the Emerging Segments Within the Healthcare Biometrics Market?
The healthcare biometricsmarket covered in this report is segmented -
1) By Technology: Fingerprint Recognition, Face Recognition, Voice Recognition, Vein Recognition, Iris Recognition, Hand Recognition, Other Technologies
2) By Application: Medical Record And Data Center Security, Patient Identification And Tracking, Care Provider Authentication, Home Or Remote Patient Monitoring, Other Applications
3) By End-User: Hospitals, Clinics, Clinical Laboratories, Healthcare Institutions
Subsegments:
1) By Fingerprint Recognition: Optical Fingerprint Recognition, Capacitive Fingerprint Recognition, Ultrasonic Fingerprint Recognition, Thermal Fingerprint Recognition, Multi-Factor Fingerprint Authentication Systems
2) By Face Recognition: 2D Face Recognition, 3D Face Recognition, Infrared Face Recognition, Facial Thermography, Real-Time Face Recognition Systems
3) By Voice Recognition: Speaker Identification Systems, Speaker Verification Systems, Voice Biometric Authentication, AI-Powered Voice Recognition For Healthcare, Multi-Modal Voice Recognition Systems
4) By Vein Recognition: Palm Vein Recognition, Finger Vein Recognition, Infrared Vein Pattern Recognition, Near-Infrared Vein Imaging
5) By Iris Recognition: Near-Infrared Iris Scanning, Multi-Spectral Iris Recognition, High-Speed Iris Recognition Systems, Real-Time Iris Recognition Solutions
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What Long-Term Drivers Are Shaping Healthcare Biometrics Market Trends?
The rising number of hospital patients is positively impacting the healthcare biometrics market. This increase is due to aging populations and a higher prevalence of chronic diseases. Healthcare biometrics enhance security and patient care by enabling accurate identification. For instance, in February 2024, the Canadian Institute for Health Information reported that acute inpatient hospitalizations grew from 2.88 million in 2021-2022 to 2.96 million in 2022-2023, a 2.78% increase. Thus, the rising hospital patient count is fostering growth in the healthcare biometrics market.
Who Are the Top Competitors in Key Healthcare Biometrics Market Segments?
Major companies operating in the healthcare biometrics market are Fujitsu Limited, NEC Corporation, Siemens Healthineers AG, Thales Group, IDEMIA SA, GoForward Inc., Zkteco Inc., Imprivata Inc, M2SYS LLC, Cross Match Technologies Inc., Daon Inc., Facephi, Aware Inc., Integrated Biometrics, Suprema Inc, eyeLock, Bio-Key International, Facetec Inc., RightPatient, Morpho Dys
What Healthcare Biometrics Market Trends Are Gaining Traction Across Different Segments?
Major Companies in healthcare biometrics are focused on patient identity verification to improve safety and accuracy. In February 2024, VerifiNow launched PatientVerifi, a biometric identity solution for telehealth using voice biometrics, facial recognition, and liveness detection, enhancing patient identification during virtual appointments and ensuring compliance with healthcare regulations.
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Which Regions Are Becoming Hubs for Healthcare Biometrics Market Innovation?
North America was the largest region in the healthcare biometrics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare biometrics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Healthcare Biometrics Market?
2. What is the CAGR expected in the Healthcare Biometrics Market?
3. What Are the Key Innovations Transforming the Healthcare Biometrics Industry?
4. Which Region Is Leading the Healthcare Biometrics Market?
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