The global Healthcare Biometric Market is expected to reach USD 14.5 billion by 2025, according to a new report by Grand View Research, Inc. The migration of health system and hospitals to Electronic Health Records (EHR) and computerized physician order entry is expected to propel the demand for healthcare biometrics over the forecast period.
As more Healthcare Information Exchanges (HIE) are
built across the network to coordinate care, the demand for technologies to
combat data corruption and unauthorized access is expected to increase, thereby
contributing to the market growth of healthcare biometrics during the forecast
period.
Implementation of biometrics is expected to increase
the security for patients, doctors, and nurses. The HIPPA has imposed stringent
new regulations to safeguard confidentiality and privacy of patient
information. These regulations are also expected to drive the deployment of
biometrics in healthcare system, thereby contributing to the market growth over
the forecast period.
Improvements in the existing technologies and the
development of multipurpose authentication devices are expected to facilitate
commercialization of advanced products. As a result, adoption of these devices
is expected to escalate in the healthcare space in the near future.
The rise of consumerism in healthcare and increase in
disposable income in emerging countries is also expected to boost the adoption
of new technologies such as biometrics by health system, thereby propelling the
market growth healthcare biometrics market during the forecast period.
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Biometric Market Report
Healthcare Biometric Market Report Highlights
- The
global face recognition technology market is anticipated to reach over 2.0
billion by 2025, at a CAGR of 23.0% from 2017 to 2025
- In
terms of technology, others segment which includes DNA analysis, retina
analysis, and ECG analysis is expected to show the fastest growth during
the forecast period
- In
terms of technology, iris recognition is also expected to show lucrative
growth owing to its uniqueness as compared to other technologies
- North
America is expected to dominate the healthcare biometric market during the
forecast period
- Asia
pacific is expected to show the fastest growth in healthcare biometric
market over the forecast period
- The
market is partially consolidated and competitive in nature, with presence
of global multinational players
- Some
of the key companies present in the market include NEC Corporation,
Fujitsu, 3M, MorphoTrust, Imprivata, Inc., Suprema, BIO-key International,
Crossmatch, Hitachi Ltd., Integrated Biometrics, Genkey Solutions B.V.,
Agnitio, Nuance Communications, Inc., and Qualcomm Technologies, Inc.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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