HEALTHCARE BIOMETRICS MARKET ANALYSIS

Biometrics in the healthcare context primarily refers to patient identification and the provision of access control to users. Biometrics are also used for detecting fraud and securing information of patients recruited for clinical trials. Healthcare insurers in the U.S. face a lot of fraud and misrepresentation of information to claim as paid benefits. Healthcare biometrics is an optimal solution for data security and fraudulent claims and can save billions of dollars spent by the government and healthcare insurers. Secured identification of patients is essential to control logical access to centralized archives of digitized patients’ data, limit physical access to hospital wards and buildings, and authenticate medical personnel.

The global healthcare biometrics market size is estimated to be valued at US$ 5,759.6 Million in 2022 and is expected to witness a CAGR of 24.4% over the forecast period (2022 – 2030).

Figure 1. Global Healthcare Biometrics Market Share (%), by Application, 2022

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Increasing adoption of healthcare biometrics in various healthcare organizations and hospitals is expected to drive the growth of the global healthcare biometrics market

Most hospitals and healthcare organizations are using biometric systems to ensure the safety of patients’ data and secure the identification process of patients.

For instance, on September 1, 2022, according to the report published in Hindawi, a commercial publisher of scientific, technical, and medical literature, the majority of biometric authentication in the healthcare industry goes toward patient tracking and monitoring; however, its usage for access control, identity, workforce management, and patient record storage is also growing. Consequently, all of these aspects along with MFA's (Multi-factor Authentication) safety over old approaches are anticipated to aid in the market's expansion.

Moreover, on June 2, 2022, CERTIFY Health, a provider of patient engagement and authentication globally, announced that VHC Health (VHC), a community-based health system providing medical services, had implementing its positive patient identification (PPID) using facial biometrics at all VHC locations. CERTIFY’s PPID (positive patient identification) capabilities will be integrated into VHC’s existing electronic health record and administrative systems to create a seamless experience for both patients and administrative staff.

 Figure 2. Global Healthcare Biometrics Market Share (%), by Region, 2022

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The presence of key market players and increasing launches of medical biometric systems driving in highest share of North America market in the global healthcare biometric market.

On the basis of region, the global healthcare biometrics market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to witness significant growth in the global healthcare biometrics market owing to increasing launches of medical biometric systems by major players in this region. For instance, in February 2018, Applied Health Analytics, LLC, a provider of analytics and technology services, launched bMetrix, a screening application that helps automate the collection of biometric data. This new system allows clinicians and wellness screeners to accurately gather information on-site and at retail clinics, biometric screenings, and health fairs. bMetrix supports the most popular biometric diagnostic devices such as CardioChek and Cholestech LDX.

Asia Pacific is also expected to witness considerable growth over the forecast period owing to increasing initiatives by healthcare providers and hospitals in the region. For instance, in September 2018, the Jiangxi Provincial People’s Hospital in China deployed self-service payment terminals, equipped with Alipay’s face recognition technology for secure transactions. It is the first hospital in China to offer facial recognition-based medical bill payment services.

Global Healthcare Biometrics Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization declared it a public health emergency on January 30, 2020.

The sudden outbreak of COVID-19 has brought the world to a standstill. The whole world is fighting this pandemic with an increased burden on hospitals and healthcare professionals. In April 2020, according to the reports published in an article on Biometric Technology, in Research Gate, a commercial social networking site, the COVID-19 situation calls for the adoption of efficient and contactless procedures, notably in the retail sector. Applications that rely on fingerprint recognition modalities suffer a significant loss as a result of the COVID-19 pandemic's tightening criteria, while contactless technologies such as face and iris-based detection systems are being pushed to new heights. Additionally, COVID-19 will have a big and lasting effect on biometrics companies, developers, investors, and clients.

Global Healthcare Biometrics Market: Key Developments

• In April 2020, Digi-Key Electronics, a global electronic components distributor, announced that it had expanded its product portfolio by signing a global distribution partnership with Fingerprint Cards AB, a biometrics company, providing Digi-Key customers with standalone, compact biometric fingerprint sensor solutions, providing safe and convenient identification and authentication with a human touch.
• In June 2021, CLEAR, a talent management system, and Atlantic Health System, a non-profit health care network, had partnered to empower patients with the ability to access and share their proof of COVID-19 vaccination through CLEAR’s digital vaccine card and Health Pass. Using the free CLEAR app, vaccinated patients had the option to create a digital version of their paper vaccination card and securely link their vaccination information within Health Pass for entry to sporting events, concerts, and other participating locations across the country.
• In August 2021, RAIsonance, Inc., an artificial intelligence/machine learning (AI/ML)-based technology company, announced the launch of a new product, SoundPass. SoundPass is a non-medical, biometric tool using multi-factor authentication (MFA) for establishing and maintaining a bubble of perimeter security around the premises or a group of people.

Global Healthcare Biometrics Market: Restraints

Rising cybercrime targeting medical data and services has restrained the growth of the global healthcare biometrics market. Due to valuable data, medical records command higher prices on the dark web, making them a top target for criminals. The CBS News, a U.S.-based television and radio service, patient records can sell for up to US$1,000 each.

For instance, in 2019, according to the reports published in Healthcare Data Breach Report, published by HIPAA Journal, more healthcare records were breached in 2019 than in the six years from 2009 to 2014, and that was before COVID-19 drove increased demand for telehealth and remote access.

Moreover, using biometrics in healthcare offers a way to access sensitive information using something that cannot be lost, stolen, shared, or forgotten. People face many challenges remembering the password. For instance, Users have too many to remember, forgotten passwords are reset using weak “secret questions” and knowledge-based authentication methods that are simple for social engineers to hack. Users sacrifice security for convenience and Compromised credentials are for sale on the dark web.

Key Players

Key players operating in the global healthcare biometrics market include BIO-key International, Fujitsu Limited., 3M Cogent, Inc., MorphoTrust, Imprivata, Inc., Crossmatch Technologies, Inc., Toshiba Medical System Corporation, NEC Corporation, Hitachi Ltd., Integrated Biometrics, and Qualcomm Technologies, Inc.