Global Healthcare Biometrics Market is projected to expand at an extremely high 25.90% CAGR between 2013 and 2019

According to a recent market study published by Transparency Market Research (TMR), Security is one of the primary concerns of the healthcare industry when it comes to safeguarding patient’s privacy, confidential medical records, and data. In the modern healthcare industry, which is becoming increasingly digitalized with every passing day, the issue of security has become even more critical.

Most of the medical data that was earlier contained on papers and manual file entries is now uploaded in digital servers and databases, making the data more vulnerable to security breaches and thefts. But the digital world has also helped improve the overall security of the healthcare infrastructure by the virtue of technologies such as biometric authentication.

Healthcare Biometrics Market: Making Healthcare Industry Safer

Biometric authentication systems include a set of devices that analyze global healthcare biometrics market of users by capturing the most unique features related to the person’s physical traits and using them for authenticating the identity of the person. A variety of human features such as fingerprints, iris, voice, face, hands, and signature help in revealing a number of potential attributes that can be used for biometric authentication. The use of biometrics system that identifies an authorized person with the help of aforementioned physical attributes along with systems for logical or physical authentication are commonly used to allow or prohibit access to healthcare facilities. The use of these systems has helped in making healthcare infrastructure more secure around the world.

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Healthcare Biometric Systems: an Overview

The key components of a typical biometric identification system comprises a reader or a scanning device, a software program to convert the scanned data into digital form, and a database for storing the biometric data and for comparing entries with pre-fed biometric data.The healthcare industry is increasingly shifting its focus on the implementation of biometric security solutions so as to safeguard patient identification and electronic health records.

Global Healthcare Biometric Systems Market to Exhibit 25.90% CAGR

A recent market research report published by Transparency Market Research states that the global market for healthcare biometrics had a valuation of US$1.2 bn in 2012. Even with the currently struggling economies of some of the most flourishing and digitally advanced regional healthcare markets in Europe and Asia, healthcare organizations have not reduced their efforts in making healthcare facilities safer. The global market for healthcare biometrics is projected to expand at an extremely high 25.90% CAGR between 2013 and 2019, rising to US$5.8 bn by 2019.

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One of the key factors corroborating the high growth prospects of the global healthcare biometrics market is high ergonomic factor of biometric systems: they have low base cost, require little maintenance, require very few additional networking or other hardware devices and secure a premise reliably. Demand for more accurate and innovative biometric systems is also very high in the healthcare industry. The market therefore, presents huge growth opportunities for businesses investing in the development of biometric systems with improved response time, accuracy, and an integration of multiple biometric authentication capabilities in a single system.

On a geographic level, the global healthcare biometrics market is dominated by the North American regional market owing to the implementation of strict regulatory reforms such as the Health Insurance Portability and Accountability Act (HIPPA) and healthcare fraud control systems in the region.

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