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  3. Healthcare Biometrics Market

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Security has always remained a vital concern in healthcare sector when it comes to safeguard confidential medical data, records and patients’ privacy. Biometric devices analyze biological data of a user by capturing unique his or her physical human features and use them as a future reference (template) for user’s identification. The basic components of biometric identification systems consist of a scanning device or a reader, software to convert the scanned information into digital form and a database to store the biometric data for comparison with entered biometric data.

 

A variety of human features such as fingerprint, face, iris, vein, voice, hand and signature seem to reveal several potential attributes for biometric authentication. Use of biometrics with the help of these physical characteristics along with logical or physical access or both together has found a worldwide use in the healthcare sector. However, improper storage of medical data may pose a threat of invasion of the user’s identity and thus challenge patient security. Biometric solutions are facilitates the provision restricted access to rooms or computer network systems from unauthorized access.

 

Healthcare facilities across the globe are increasingly shifting their focus on implementing biometric security solutions for patient identification and their linking to electronic health records system to the respective patients. Integrity of patient identity, efficient and safe data recording, control on medical frauds and reduction in inventory theft are some of the distinct advantages offered by biometrics. Biometrics provides healthcare professionals and patients to secure their information and keep it confidential by only being released such information to those who have the rightful access to it. Biometrics allows matching of a patient to his records with minimal possibility of errors and avoids mixing up of patient information which can have serious consequence on the health and wellbeing of such patients. Moreover, factors such as culmination of false patient identity, patient protection and reduction of the overburden of medical frauds and security of medical records have urged those in the healthcare industry to opt for biometrics.

 

Even with the ongoing struggle in the economy, especially in the European and Asian countries, healthcare organizations are investing in biometric technologies in order to increase security, privacy and improve patient safety and thus compensate the huge amount money lost in healthcare frauds. Companies investing heavily in developing automated biometric systems with improved accuracy and response time may gain greater benefits in the near future. Introduction of new products with reduced cost and showcasing advantages and advanced capabilities of biometric security solutions at various conferences, laboratories, trade shows, web casting and electronic newsletters is further boosting the growth of new market competitors. 

 

Geographically, North America dominates the global healthcare biometrics market owing to extensive implementation of healthcare fraud controlling systems and enforcement of legislations such as HIPAA (Health Insurance Portability and Accountability Act) in the U.S. Furthermore, majority of the market leaders are domiciled in the U.S. and are aggressively involved in technological advances, eventually introducing new biometric devices and products in the global market. Well established market players are also increasingly pushing their cost effective products in emerging markets coupled with showcasing their cost and safety related advantages thereby increasing their adoption in such regions. Growing acceptance of biometrics in by major medical fields and its verified efficiency in hospitals, clinical laboratories, research labs and other healthcare facilities drives the market for healthcare biometrics in North America.

 

Moreover, factors such as reduction in healthcare frauds, secured patient privacy and medical records, reduction in fake insurance claims reduction in identification and reimbursement processing, cost containment of the biometric devices and introduction of cheaper products with better accuracy will result in rapid adoption of biometrics security solutions in healthcare sector in the emerging markets. Use of multimodal biometric system, which combines different types of biometric methods, such as combining facial and iris recognition is currently rapidly progressing trend. Biometrics is a promising and a fast growing segment in the field of next generation personal authentication and security systems and is changing the perception and look of healthcare industry.

 

 

 

 

This market research report on the global healthcare biometrics market provides a comprehensive overview of the market structure, the demand drivers, the challenges, the key market players, and the future market forecasts. The quantitative and the qualitative market facts presented in this research report are based on primary and secondary sources of information. The report also includes valuable inputs derived from industry experts and professionals. 

With a vast collection of graphical and tabular representations, this market study highlights the ongoing trends in this market and throws light on the performance of this market so far. The report uses analytical tools such as the SWOT analysis and the Porter’s five forces analysis to weigh out the challenges and potential opportunities in the global healthcare biometrics market. This market research report segments the global healthcare biometrics market on the basis of technology, applications, and geography. 

According to this report, healthcare biometrics are mainly used in the areas of transaction authentication, physical access control, and logical access control. Geographically, this report segments the global healthcare biometrics market into North America, Europe, Asia Pacific, and Rest of the World. This research report throws light on the competitive landscape of the global healthcare biometrics market by identifying the key companies operating in this market and by also describing the profiles of each. The information, data, facts, and figures compiled in this research report create a strong foundation for effective decision making. 

Overview of the Global Healthcare Biometrics Market

The prominent factors which fuel the global healthcare biometrics market are the growing demand for practical alternatives to passwords, the pressing need for bringing down the incidence of healthcare frauds, and the financial benefits offered by healthcare biometrics. Biometrics devices capture certain physical features of users for future reference for the purpose of identification. A typical biometric devices is composed of the following: software for converting the scanned data into a digital format, a reader or a scanning device, and a database which stores the relevant biometric information for the purpose of comparison with the biometric data that has already been entered. 

On the basis of technology, the global healthcare biometrics market is segmented into signature recognition, vein recognition, fingerprint recognition, voice recognition, hand recognition, iris recognition, face recognition, and other techniques. The growing popularity of biometric self-service in healthcare and palm vein biometric authentication are factors that will drive the global healthcare biometrics market in the years to come. The widening scope of application in this market will contribute significantly to the overall performance of the healthcare biometrics market during the forecast period. 

The growing acceptance and adoption of biometrics in areas such as healthcare facilities, research laboratories, clinical laboratories, and hospitals is expected to fuel the global healthcare biometrics market in the forecasting horizon. However, factors such as security and convenience trade-off and the storage of biometric template will hinder the growth of the global healthcare biometrics market in the forthcoming years. North America is the largest regional player in the global healthcare biometrics market, owing to factors such as the strict implementation of rules such as the Health Insurance Portability and Accountability Act (HIPAA), and the widespread implementation of healthcare fraud and control systems. 

Companies mentioned in the research report

Following are the key players operating in the global healthcare biometrics market: ZKTeco Inc., Suprema Inc., Siemens AG, Safran SA, NEC Corporation, M2SYS LLC, Lumidigm Inc., Fujitsu Ltd., DigitalPersona Inc., Cross Match Technologies Inc., Aware Inc., and 3M Cogent Inc. amongst others.  

Major geographies analyzed under this research report are: 

  • Europe
  • North America 
  • Asia-Pacific 
  • Rest of the World 

This report gives you access to decisive data such as:

  • Market growth drivers 
  • Factors limiting market growth
  • Current market trends 
  • Market structure
  • Market projections for the coming years 

Key highlights of this report

  • Overview of key market forces propelling and restraining market growth 
  • Up-to-date analyses of market trends and technological improvements
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors 
  • An array of graphics and SWOT analysis of major industry segments 
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis 
  • Offers a clear understanding of the competitive landscape and key product segments
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