This market research report on the global healthcare biometrics market provides a comprehensive overview of the market structure, the demand drivers, the challenges, the key market players, and the future market forecasts.
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Rising Demand for Secured Healthcare Premises Drive Global Healthcare Biometrics Market despite of Weakened Global Economy
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Research
Healthcare Biometrics Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast, 2013 – 2019
Healthcare Biometrics Market to Gather Steam amidst Security
Breaches and Medical Thefts
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97 Page ReportPublished Date
25-Sep-2013
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Press Release
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The 97-page comprehensive study forecasts that the global healthcare biometrics market will grow to US$5.8
billion in 2019, from an estimated US$1.2 billion in 2012. The report, titled “Healthcare Biometrics Market -
Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, also indicates that the
healthcare biometrics market will grow at a remarkable 25.9% CAGR from 2013 to 2019.
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market.html
Security has always remained a vital concern in healthcare sector when it comes to safeguard confidential medical
data, records and patients’ privacy. Biometric devices analyze biological data of a user by capturing unique his
or her physical human features and use them as a future reference (template) for user’s identification. The basic
components of biometric identification systems consist of a scanning device or a reader, software to convert the
scanned information into digital form and a database to store the biometric data for comparison with entered
biometric data.
A variety of human features such as fingerprint, face, iris, vein, voice, hand and signature seem to reveal several
potential attributes for biometric authentication. Use of biometrics with the help of these physical characteristics
along with logical or physical access or both together has found a worldwide use in the healthcare sector.
However, improper storage of medical data may pose a threat of invasion of the user’s identity and thus challenge
patient security. Biometric solutions are facilitates the provision restricted access to rooms or computer network
systems from unauthorized access.
Healthcare facilities across the globe are increasingly shifting their focus on implementing biometric security
solutions for patient identification and their linking to electronic health records system to the respective patients.
Integrity of patient identity, efficient and safe data recording, control on medical frauds and reduction in inventory
theft are some of the distinct advantages offered by biometrics. Biometrics provides healthcare professionals and
patients to secure their information and keep it confidential by only being released such information to those who
have the rightful access to it. Biometrics allows matching of a patient to his records with minimal possibility of
REPORT DESCRIPTION
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errors and avoids mixing up of patient information which can have serious consequence on the health and
wellbeing of such patients. Moreover, factors such as culmination of false patient identity, patient protection and
reduction of the overburden of medical frauds and security of medical records have urged those in the healthcare
industry to opt for biometrics.
Even with the ongoing struggle in the economy, especially in the European and Asian countries, healthcare
organizations are investing in biometric technologies in order to increase security, privacy and improve patient
safety and thus compensate the huge amount money lost in healthcare frauds. Companies investing heavily in
developing automated biometric systems with improved accuracy and response time may gain greater benefits in
the near future. Introduction of new products with reduced cost and showcasing advantages and advanced
capabilities of biometric security solutions at various conferences, laboratories, trade shows, web casting and
electronic newsletters is further boosting the growth of new market competitors.
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Geographically, North America dominates the global healthcare biometrics market owing to extensive
implementation of healthcare fraud controlling systems and enforcement of legislations such as HIPAA (Health
Insurance Portability and Accountability Act) in the U.S. Furthermore, majority of the market leaders are
domiciled in the U.S. and are aggressively involved in technological advances, eventually introducing new
biometric devices and products in the global market. Well established market players are also increasingly pushing
their cost effective products in emerging markets coupled with showcasing their cost and safety related advantages
thereby increasing their adoption in such regions. Growing acceptance of biometrics in by major medical fields
and its verified efficiency in hospitals, clinical laboratories, research labs and other healthcare facilities drives the
market for healthcare biometrics in North America.
Moreover, factors such as reduction in healthcare frauds, secured patient privacy and medical records, reduction
in fake insurance claims reduction in identification and reimbursement processing, cost containment of the
biometric devices and introduction of cheaper products with better accuracy will result in rapid adoption of
biometrics security solutions in healthcare sector in the emerging markets. Use of multimodal biometric system,
which combines different types of biometric methods, such as combining facial and iris recognition is currently
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rapidly progressing trend. Biometrics is a promising and a fast growing segment in the field of next generation
personal authentication and security systems and is changing the perception and look of healthcare industry.
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market.htm
Chapter 1 Introduction
1.1 Report Description
1.2 Market Segmentation
1.3 Research Methodology
1.4 List of Abbreviations
Chapter 2 Executive Summary
Chapter 3 Market Overview
3.1 Market Definition and Overview
3.1.1 The biometrics industry
3.1.2 The need for biometrics
3.1.3 Biometrics benefits offered in healthcare
3.2 Market Dynamics
3.2.1 Drivers
3.2.1.1 Financial benefits offered by healthcare biometrics
3.2.1.2 Reduction in healthcare frauds
3.2.1.3 Practical alternative to passwords
TABLE OF CONTENT
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3.2.2 Restraints
3.2.2.1 Storage of biometric template
3.2.2.2 Security and convenience trade-off
3.2.3 Opportunities
3.2.3.1 Biometric self-service in healthcare
3.2.3.2 Future scope in palm vein biometric authentication
3.3 Porter’s Five Force Analysis
3.3.1 Bargaining Power of Suppliers
3.3.2 Bargaining Power of Buyers
3.3.3 Threat of New Entrants
3.3.4 Threat of Substitutes
3.3.5 Competitive Rivalry
3.4 Market Attractiveness Analysis: Global Healthcare Biometrics Market, by Geography, 2012
Chapter 4 Global Healthcare Biometrics Market, by Technology
4.1 Overview
4.2 Face Recognition
4.2.1 Global Face Recognition Biometrics Market Revenue, 2011 – 2019 (USD Million)
4.3 Iris Recognition
4.3.1 Global Iris Recognition Biometrics Market Revenue, 2011 – 2019 (USD Million)
4.4 Hand Recognition
4.4.1 Global Hand Recognition Biometrics Market Revenue, 2011 – 2019 (USD Million)
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8.12.5 Recent Developments
8.13 ZKTeco, Inc.
8.13.1 Company Overview
8.13.2 Strategic Overview
8.13.3 Financial Overview
8.13.4 Product Portfolio
8.13.5 Recent Developments
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