September 26, 2013 -
The global healthcare biometrics market – valued at $1.2 billion in 2012 – is expected to grow at a CAGR of 25.9% from 2013-2019 to reach $5.9 billion in 2019, according to newly-published research.
According to the report, Healthcare Biometrics Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019 published by Transparency Market Research, growing security concerns with healthcare facilities and medical insurance has driven the growth of this market.
Biometric technologies are being used increasingly across the healthcare space to identify patients, and also as an access control tool. The research notes that logcal access control, physical access control and transaction authentication are the three prime areas of healthcare biometrics.
According to the report, fingerprint recognition makes up more than 50% of the demand in healthcare and that trend will continue to 2019. “Availability of a wide range of fingerprint recognition devices, introduction of portable fingerprint scanners and their efficacy in healthcare are the major factors driving the demand for fingerprint technology,” the report notes. “Based on adaptability to cost effective security enhanced formats, AFIS, will continue to lead in terms of market revenues. It is expected that the global market for fingerprint biometric devices will grow at a CAGR of more than 20% from 2013 to 2019.”
The report also notes that hand, vein, face and iris are expected to witness the fastest growth among biometrics and healthcare, and these will most likely be used in logical access control systems. In terms of allocations, logical access control is expected to dominate the market.
In terms of geographic market share, this new report suggests North America along with Europe captures more than 75%. In the developing world, Asia-Pacific region will provide the largest and most diverse sales opportunities for biometrics security solutions in the healthcare sector due to budding domestic and export markets for nationally produced biometric devices.