Global Healthcare Biometrics Market Predicted to Experience Noteworthy Growth by 2031 with the Increasing Use of Biometric Devices in the Healthcare Sector

The adoption of the Personal Health Record (PHR) has made individual health information more available to a wide variety of consumers. However, the security, privacy, and confidentiality of personalized health information are in danger due to growing PHR accessibility. Hence, the requirement for strong and trustworthy authentication methods is of the utmost importance. Biometric authentication is currently a well-known technique among healthcare professionals.

Biometrics in healthcare primarily refers to patient identification and user access control. Biometrics are used to detect fraud and safeguard the data of patients in clinical trials. Healthcare biometrics is a great solution for data protection and preventing fraudulent claims, and it can save the government and healthcare insurance companies billions of dollars. Secure patient identification is essential to regulate logical access to centrally archived digitized patient data, prohibit physical access to hospital wards and structures, and verify medical staff. Currently, the global healthcare biometrics market is continuously evolving with new technologies and practices.

Recent Trends in the Healthcare Biometrics Market

Face recognition is becoming extremely popular in the healthcare biometrics sector, especially for patient identification and authentication. Face recognition technology can rapidly and precisely identify patients, assisting healthcare providers in reducing errors, improving patient safety, and enhancing the patient experience. Additionally, in healthcare, voice recognition technology is also utilized to improve patient authentication and identification. A patient can use their voice to verify their identity when accessing medical records or interacting with healthcare practitioners, which can increase patient safety and reduce errors. All these novel advancements in healthcare biometrics technology are fueling the growth of the healthcare biometrics market.

Newest Insights in the Healthcare Biometrics Market

As per a report by Research Dive, the global healthcare biometrics market is expected to grow at a CAGR of 17.4% and generate revenue of $24,942.7 million by 2031. The primary factors driving the growth of the market are the huge amount of medical information and an expanding patient pool. In addition, the growing use of biometrics owing to its affordability, the ease of integrating cloud technology with healthcare services, and the high level of assurance and security are some of the factors driving the market's growth. However, the cost of the biometric healthcare system is high, requiring additional money from hospital and clinic management, which is expected to hinder the market growth.

The healthcare biometrics market in North America is expected to remain dominant in the coming years. The region's high revenue in 2021 was driven by the growing acceptance of biometrics by hospitals, clinical laboratories, research labs, and other healthcare organizations.

How are Market Players Responding to the Rising Demand for Healthcare Biometrics?

Market players are responding to the rising demand for healthcare biometrics by investing in research and development to create a more advanced and efficient cloud infrastructure. Many healthcare businesses have moved from using traditional paper-based record management systems to managing biometrics in the cloud.

In addition, market players are increasingly focusing on strategic partnerships and collaborations with other players in the industry to leverage their strengths and expand their reach. Some of the foremost players in the healthcare biometrics market are NEC CORPORATION, Zotero, Crossmatch Technologies, Bio-Key International, Fujitsu Limited, 3M Cogent, Inc., IDEMIA (Morpho), Integrated Biometrics, Suprema Inc., Imprivata, Inc., and others. These players are focused on implementing strategies such as mergers and acquisitions, novel developments, collaborations, and partnerships to reach a leading position in the global market. 

For instance, 

• In May 2021, Imprivata, a Waltham-based business specializing in digital identity security, launched face biometrics for healthcare through a collaboration between Aware and IDEMIA. The new mobile facial biometrics technology is designed to simplify self-enrolment for EPCS (electronic prescriptions for controlled substances) in accordance with US Drug Enforcement Agency (DEA) rules.
   
• In August 2021, RAIsonance, a family of businesses committed to offering AI/ML-based solutions for the biometrics, safety, medical diagnostics, digital health, and big data markets, launched the SoundPass Biometric Security Tool. SoundPass helps create a biometric perimeter security bubble around entertainment and consumer venues, companies, and college campuses using AI (artificial intelligence).
   
• In February 2022, rf IDEAS, a leading manufacturer of credential readers for logical access and authentication, announced a partnership with ID R&D, a biometric technology company, to incorporate its cutting-edge biometric authentication and anti-spoofing solutions into the rf IDEAS range.

COVID-19 Impact on the Global Healthcare Biometrics Market

The COVID-19 pandemic made a moderate impact on the global healthcare biometrics market. The pandemic created several uncertainties, resulting in significant economic losses as various enterprises around the world came to a halt. This eventually reduced the need for healthcare biometrics owing to supply chain disruptions, the closing of manufacturing facilities, and the global economic slump. However, biometrics, AI (artificial intelligence), and machine learning were important in responding to the pandemic. Biometric technologies were integrated and approved as critical tools for COVID-19 early detection, medical screening, and public safety monitoring across the globe. Moreover, law enforcement agencies, governments, and other organizations shifted from touch-based biometric verification to contactless biometric authentication to combat the spread of the deadly virus. As a result, Al and ML technologies and algorithms were used up to their full potential to develop and improve cutting-edge contactless biometric identification solutions, which fueled the growth of the healthcare biometrics market.