Healthcare biometrics market

Healthcare Biometrics Market to Surpass US$ 8.7 Billion by 2024

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The Global Healthcare Biometrics Market was valued at US$ 1,333.1 million in 2015 and is projected to expand at a CAGR of 23.4% during the forecast period (2016–2024), as highlighted in a new report published by Coherent Market Insights. Growing security concerns and integration of information technology (IT) with healthcare processes is expected to drive growth of the global healthcare biometrics market.

Frauds and operational inefficiencies are overriding healthcare administration concerns and needs to be addressed soon for overall profitability and improved efficiency. Use of biometrics ensures safety and controlled access. Healthcare insurers are inundated with fraudulent claims. According to the Coalition against Insurance Fraud—an anti-fraud watchdog group—nearly US$ 80 billion is lost annually in Medicare fraud in the U.S. Besides, giving every patient a digital identity is being increasingly adopted as a practice in hospitals to ease processing at every functional level. Healthcare companies and organizations are actively integrating healthcare IT to aid cost reduction, secure patient information and allow for only authorized access.

Use of mHealth, and electronic health record is increasing rapidly globally. With the use of digital platforms, data security becomes critical as underlines by the Health Insurance Portability and Accountability Act (HIPAA) of 1996. These factors would augment growth of healthcare biometrics market at a rapid rate. Use of fingerprint biometric technology is high, owing to its ease of operation. Moreover, it is a primary biometric technology and is also used by mobile device manufacturers. Use of biometric also finds benefits in providing access to functional departments and documents.

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Key takeaways of the healthcare biometrics market: The global healthcare biometrics market is expected to expand at a CAGR of 23.4% during the forecast period (2016–2024) as there exists a huge unrealized market especially in Asia Pacific, Latin America, Middle East and Africa The fingerprint technology dominates the market in the technology segment as it is the primary biometric technology developed and focused by mobile health device manufacturers Different screening technologies such as iris, and vein recognition are expected to gain traction with growing awareness and increasing application areas Hospitals and healthcare institutions are the major end users of biometric systems as these organizations deal with a huge database and many functional departments to be accessed securely Some of the major players involved in global healthcare biometrics market include BIO-key International, Fujitsu Limited, MorphoTrust, 3M Cogent, Inc., Imprivata, Inc., Crossmatch Technologies, Inc., NEC Corporation, Hitachi Ltd., Integrated Biometrics, and Qualcomm Technologies, Inc. Request for sample copy of this report : https://www.coherentmarketinsights.com/insight/request-sample/155

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SYNDICATED RESEARCH COUNTRY SPECIFIC STUDIES

ABOUT COHERENT MARKET INSIGHTS Industries we cater SECTOR COVERAGE Healthcare

BIOTECHNOLOGY

CLINICAL DIAGNOSTIC

HEALTHCARE IT

MEDICAL DEVICES

MEDICAL IMAGING

PHARMACEUTICAL

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Bulk Chemicals

Advanced Materials

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Polymers & Resins

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