The healthcare biometrics market is projected to reach USD 2,848.3 Million by 2021 from USD 1,182.6 Million by 2016, at a CAGR of 19.2% during the forecast period. Growth of this market is majorly driven by government initiatives to support implementation of biometrics in healthcare facilities and increasing healthcare fraud & medical identity theft.
Single-factor authentication healthcare biometrics market is further categorized by technology into face recognition, iris recognition, palm geometry recognition, fingerprint recognition, vein recognition, behavioral recognition, and other authentication technologies.
Complete report on Healthcare Biometrics Market spread across 217 Pages, Profiling 11 Companies and Supported with 209 Tables and 45 Figures is now available at http://www.reportsnreports.com/reports/573625-healthcare-biometrics-market-by-technology-single-factor-fingerprint-face-iris-palm-behavioral-signature-voice-multifactor-multimodal-application-workforce-management-end-user-hospitals-healthcare-institutions-global-forecast-to-2021.html
North America commanded the largest share of the global healthcare biometrics market in 2015 and is expected to grow at the highest CAGR of 20.2% during the forecast period. This growth can be attributed to increasing government initiatives to ensure data protection and the security of healthcare facilities and presence of large number of prominent players.
On the other hand, the high cost
of biometric devices and issues related to the use of biometric technologies
are major factors limiting the growth of the market.
This report is useful for following audience
- Manufacturers of biometric hardware and software
- Manufacturers of biometric technologies
- Hospitals and clinics
- Healthcare institutions (medical data centers)
- Research and clinical laboratories
- Distributors and suppliers of healthcare biometrics
- Health insurance payers
- Market research and consulting firms
Vein recognition is expected to grow at the highest CAGR during the forecast period due to its accuracy, fast recognition, and contactless. Owing to this, biometric technologies are increasingly being adopted to comply with stringent laws such as HIPAA and HITECH.
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The global healthcare biometrics market is dominated by North America, followed by Europe. North American market is expected to grow at the highest CAGR of 20.2% during the forecast period. This growth can be attributed to increasing government initiatives to ensure data protection and the security of healthcare facilities and presence of large number of prominent players. Owing to this, biometric technologies are increasingly being adopted to comply with stringent laws such as HIPAA and HITECH.
The healthcare biometrics market is highly competitive. Prominent players in the market include NEC Corporation (Japan), Fujitsu Limited (Japan), 3M Cogent, Inc. (U.S.), Morpho (a subsidiary of Safran SA (France)), Imprivata, Inc. (U.S.), Suprema Inc. (South Korea), BIO-key International, Inc. (U.S.), Crossmatch Technologies, Inc. (U.S.), Lumidigm (a subsidiary of ASSA ABLOY Sweden)), and ZKteco, Inc. (China).
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The Health Insurance Portability and Accountability Act of 1996 (HIPAA) was passed as a federal law in the U.S. to safeguard the confidentiality of Electronic Protected Health Information (EPHI) of patients. Under this law, covered entities such as healthcare clearing houses, health plans, and healthcare providers, who transmit EPHI as a part of their business, are obligated to employ reasonable and appropriate levels of security to control access to EPHI.
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