Market Research Future (MRFR) collected data on several factors including implications of COVID 19 Impact on Healthcare Biometrics Market and demographic challenges, showed how it could move forward in the coming years.
Healthcare Biometrics Market Overview:
The global healthcare biometrics market, as opined by Market Research Future (MRFR), is anticipated to rise with a CAGR of 22.3% during the forecast period (2016-2022) to reach a market valuation USD 5.6 billion. Biometrics, already a known tool in banking, insurance, and public security sector, is all set to improve healthcare sector. The healthcare sector can leverage on the basis of facial recognition solutions, palm vein readers, fingerprint scanners, and iris scanners, and others with a direct link with smartphones. Biometrics in healthcare makes it easier to identify individuals and match their medical data accordingly to ease the process of treatment and transaction.
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Major factors promoting the healthcare biometrics market are growing demand for technological awareness and increasing healthcare insurance proliferation in the sector for reimbursement policies. At the same time, growing pressure of patients can be countered by digitalization. Healthcare institutions, with increasing expenditures, are now making a paradigmatic shift by going digital. This is expected to help the healthcare biometrics market future in coming years.
Healthcare Biometrics Market Competitive Landscape:
Several companies are intensely engaged in strategic planning. The aim is personal growth and initiating growth of the market as a whole. MRFR’s report on the healthcare biometrics market includes players like 3M Cogent Inc., Imprivata Inc., Fujitsu Limited, NEC Corporation, BioEnable Technologies, Bio-Key International, Inc., Morpho (A Subsidiary of Safran SA), Crossmatch Technologies Inc., Suprema, Inc., Integrated Biometrics, and others.
Healthcare Biometrics Market Segmental Analysis:
MRFR’s discussion of the global healthcare biometrics market segments the market by technology, application, and end-users. This in-depth analysis of the global market provides overview of the market to ease the predictive analysis.
Based on the technology, the healthcare biometrics market can be segmented into vein recognition, fingerprint recognition, behavioral recognition, face recognition, palm geometry recognition, iris recognition, and others.
Based on the application, the healthcare biometrics market includes patient monitoring, patient identification, data security, medical record management, and others. The patient monitoring segment is expected to grow fast owing to the demand for better patient care service.
Based on the end-user, the healthcare biometrics market comprises hospitals, research laboratories, healthcare institutes, and others. The Hospitals segment is benefiting much from the implementation of these systems.
Healthcare Biometrics Market Regional Analysis:
The global healthcare biometrics market can be segmented based on a region-specific analysis. MRFR, in doing so, analyzed it by including North America, Europe, Asia Pacific, and the Middle East & Africa (MEA).
Increasing demand for regulatory requests and well-structures healthcare sector are providing much impetus to the market growth. The regional market of North America is fetching the most amount of market share. The region has also a very well-maintained digital sector and it is ever-evolving with the latest products continuously market acceptance. The healthcare insurance industry is also supporting this growth. The U.S. is one prominent region with several services such as patient identification, authentication solutions, patient monitoring, and medical record management, data security, majorly supports.
Europe’s market is growing due to features that the region mirrors. The region shares quite a demographic resemblance with that of North America. Across the region, the need for healthcare biometrics is pushing the boundary wider. Increased need for data retention is also a major possibility for the market
The APAC market is to emerge as the most promising market as several companies are eyeing for this region to expand their production capacity. In addition, the rapidly evolving economies aand increasing disposable income are calling for an implementation of such product to simplify the market growth and ease the process of treatment. There are several untapped regions as well which can trigger further steps in the market and ensure growth.
Healthcare Biometrics Industry News
In April 2019, Nok Nok Labs launched Nok Nok S3 Authentication Suite (NNL S3 Suite) at Aflac Japan in collaboration with Fujitsu Limited. The biometric operation is expected to become popular in the near future. Aflac Japan’s customers are also going to enjoy benefits of biometric solutions in healthcare sector, although the regional growth is at its nascent stage.
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