The healthcare biometrics market is anticipated to grow with a CAGR of 18.1% from 2023 to 2033. The global market share is likely to boost up to USD 3.9 billion in 2023.
Due to the increasingly high demand for healthcare biometrics for the damaged eye-retina patient on which, healthcare biometrics manufacturers are anticipated to generate high revenue of USD 20.8 billion by 2033.
“Increasing demand for healthcare biometrics due to increase in the adoption of electronic devices, healthcare fraud and to access the security of patient’s health are anticipated to boost the healthcare biometrics market share during the forecast period.”
Healthcare biometrics applications are likely to be used in hospitals and clinic centers for monitoring patients’ health, which increases the adoption of healthcare biometrics applications.
The governments of various developing countries are estimated to adopt the global market trends due to the rising healthcare infrastructure worldwide. Adopting healthcare biometrics is likely to hinder market growth as the cost of devices is high.
Moreover, in recent few years, digitalization has been accepted due to hi-tech devices generated all over the globe, which makes the journey quite easy for various monitoring and examining of patient’s health in healthcare centers. This factor boosts the economy in the healthcare biometrics demand analysis.
Apart from the security of patient health, the healthcare biometrics application record the data and identification, reducing inventory fraud and medical fraud of patient as per the market survey.
Reducing paperwork maintains a clear record of a patient without any errors, which is estimated to increase the market size in the coming forecast period.
Healthcare biometrics devices are likely to scan various human features, including face, hand, fingerprint, and others. Fingerprint scanners are most commonly used in various activities in different fields, such as for making documents, attendance punch, and identification of data, etc. are likely to increase the market for healthcare biometrics worldwide.
All the above factors are boosting the sales of healthcare biometrics in the coming forecast period from 2023 to 2033 all around the regions.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 18.1% |
| Market Valuation (2023) | USD 3.9 billion |
| Market Valuation (2033) | USD 20.8 billion |
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The companies are contributing a vital role in performing and generating revenue in the global market share in the forecast period from 2023 to 2033.
They use several approaches and methodologies to boost the market size through collaboration, mergers, and partnerships.
Hospitals, Clinics, Healthcare Institutions, Research & Clinical Laboratories, and Respiratory Distress Syndrome are the leading sectors that contribute a key role in adopting healthcare biometrics applications.
Moreover, the electronic industry is widely manufacturing devices, which are anticipated to grow the healthcare biometrics device globally in the coming forecast period. It is likely to enlarge the sales of healthcare biometrics products.
Based on the technology, excluding all the segments such as Single-factor Authentication, Signature Recognition, Voice Recognition, Other Behavioral Recognition, Multi-factor Recognition, Biometrics with PIN, Two-factor Biometrics, Three-factor Biometrics, the multi-factor authentication segment dominates the market for healthcare biometrics during the forecast period.
The multi-factor authentication is estimated at a CAGR of 17.8% during the forecast period. The end-user widely uses it for granting access to the website with the relevant information inserted in the device, which generally boosts the demand for healthcare biometrics products worldwide.
The healthcare biometrics adoption trends are supposed to increase in this segment as per the market report in the forecast period.
Principal Consultant
The various segments are categorized based on the end user, including hospitals & clinics, healthcare institutions, research & clinical laboratories, and respiratory distress syndrome. The Healthcare Institutions segment is anticipated to dominate the market for healthcare biometrics in the coming forecast period.
It is likely to rise with an approximately 17.2% CAGR in the forecast period. Many healthcare biometrics products are likely to be used in this sector due to plenty of treatments being established along with mental and physical illness, which leads to rising sales of healthcare biometrics in the coming year.
The adoption of healthcare biometrics is supposed to heighten the healthcare biometrics trends and opportunities in the forthcoming year.
| Countries | Forecast Share Between 2023 to 2033 |
|---|---|
| United States | 36.6% |
| Germany | 6.8% |
| Japan | 4.5% |
| Countries | Forecast CAGR Between 2023 to 2033 |
|---|---|
| China | 18.9% |
| India | 20.5% |
| United Kingdom | 18.4% |
| Australia | 18.2% |
The market is likely to divide into regions including North America, Asia-Pacific, Europe, Africa, the Middle East, and Latin America. Among all the regions, the North American region is anticipated to dominate the market for healthcare biometrics in the forecast period.
The United States is the leading country that highlights the maximum healthcare biometrics growth, with a share of 36.6% during the forecast period. The number of healthcare frauds is rising in the United States. Getting rid of all the frauds & adopting devices that are easy to secure data are likely to increase the sales of healthcare biometrics.
Nearby 40% of healthcare biometrics share is likely to be captured by the North American region as per the market report.
The Asia-Pacific stood second in the biometric healthcare market after North America. China is the prominent leading country in the healthcare biometrics industry, with an estimated CAGR of 18.9% during the forecast period.
Due to rising new healthcare sectors and growing infrastructure, we are likely to adopt healthcare biometrics in the coming forecast period.
Other countries such as the United Kingdom, Japan, and South Korea are anticipated to rise in the healthcare biometrics key trends and opportunities. All these regions support the healthcare biometrics industry and improve the market internationally during the forecast period.
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Various key competitors are pointing the center of attention toward the growth of the healthcare biometrics industry. To receive the maximum revenue and improve the market, the companies are putting their efforts into achieving the goals for the key market trends.
Some leading healthcare biometrics players are NEC Corporation, Fujitsu Limited, 3M Cogent, Inc., Morpho, Imprivata, Inc., Suprema Inc., and others. These companies are continuously growing and are likely to generate more earnings in the coming forecast period.
Recent Developments in the Global Market
BiointelliSense launched a new device recently in March 2022 known as BioButton. It is a chargeable device that can work continuously for 30 days on a single charge. The device is wearable and detects and monitors 20+ signs.
The Mitsubishi electric corporation limited launched its facial recognition system to track blood oxygen level, heartbeat, and body temperature (January 2022).
| Attributes | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | United States, United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered | Technology, End Users, Application, Region |
| Key Companies Profiled | NEC Corporation; Fujitsu Limited; 3M Cogent, Inc.; Morpho; Imprivata, Inc.; Suprema Inc.; and others. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
India, China, and the United Kingdom dominate the global market.
The market is forecast to register a CAGR of 18.1% through 2033.
From 2018 to 2022, the market evolve at a CAGR of 18.1%.
Technological advancement is the current market trends.
The global market size is estimated to reach USD 20.8 billion by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technology 5.1. Single-factor Authentication 5.2. Multi-factor Authentication 5.3. Signature Recognition 5.4. Voice Recognition 5.5. Other Behavioral Recognition 5.6. Multi-factor Recognition 5.7. Biometrics with PIN 5.8. Two-factor Biometrics 5.9. Three-factor Biometrics 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Patient Identification & Tracking 6.2. Medical Record Security & Data Center Security 6.3. Care Provider Authentication 6.4. Home/Remote Patient Monitoring 6.5. Pharmacy Dispensing 6.6. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 7.1. Hospitals & Clinics 7.2. Healthcare Institutions 7.3. Research & Clinical Laboratories 7.4. Respiratory Distress Syndrome 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. NEC Corporation 18.2. Fujitsu Limited 18.3. 3M Cogent, Inc. 18.4. Morpho 18.5. Imprivata, Inc. 18.6. Suprema Inc. 18.7. Mitsubishi Electric Corporation Limited 18.8. BiointelliSense 19. Assumptions & Acronyms Used 20. Research Methodology
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Healthcare Biometrics Market
