Global Healthcare Biometrics Market Size (2024 - 2029)

Healthcare Biometrics Market Analysis

The Global Healthcare Biometrics Market size is estimated at USD 10.02 billion in 2024, and is expected to reach USD 26.28 billion by 2029, growing at a CAGR of 21.29% during the forecast period (2024-2029).

The main challenge for the healthcare system in many countries was to limit the spread of COVID-19 among people and provide the best care to infected patients and decrease the number of possible deaths. A profound impact on the healthcare biometrics market was observed as well. According to the article published in 'Biometric Technology Today' in April 2020, the COVID-19 circumstance necessitates the implementation of contactless and efficient operations, particularly in retail. Contactless technologies such as face and iris-based detection systems are being pushed to new heights, while applications that rely on fingerprint recognition modalities suffer a substantial loss due to the COVID-19 pandemic's increasing criteria. Furthermore, Covid-19 will also have a significant and long-term impact on biometrics companies, developers, investors, and customers. For instance, as per the study published in April 2020, titled 'Impact on Biometrics of Covid-19', the most immediate impact of Covid-19 is that contactless technologies like face and iris recognition are now being forced to adapt to the emergent threat. Biometric AI and ML algorithms are being pushed to new heights to extend governments' protective, monitoring, and screening reach. According to recent government regulations, organizations must avoid utilizing palm print, fingerprint, and hand-key scanners to prevent physical contact and virus spread. These steps are paving the way for user-friendly iris scans and facial recognition technology that may be used in a variety of settings.

Healthcare biometrics refers to different biometric applications used in hospitals and clinics to monitor patients' health. Different initiatives are taken by the government in the field of healthcare biometrics due to the rise in healthcare fraud and to increase security for protecting healthcare information driving the market for healthcare biometrics. For instance, in August 2022, The French parliament (Assemblée Nationale) voted for a new EUR 20 million (roughly USD 20.4 million) project 242-95 to establish a biometric version of citizens' health cards (Carte Vitale).

Furthermore, emerging applications across novel fields of clinical research of medical devices are expected to open new avenues in the biometric healthcare market. Also, the increase in government initiatives toward healthcare infrastructure in developing countries drives the global healthcare biometric market.

Additionally, the key activity by the market players, such as expansion and product launch, is anticipated to drive market growth. For instance, in November 2021, ZKTeco reported the opening of a new factory in Bangalore, India, claiming that this would pave the way for new possibilities and business opportunities. Which aims to develop a modern and efficient infrastructure base to open up new opportunities for local production and workforce procurement, as well as create a conducive eco-system for the Biometric and Security Industry.

However, factors such as consumer acceptance and the high cost of healthcare biometric devices impede market growth.

Healthcare Biometrics Industry Segmentation

Healthcare biometrics refers to different biometric applications used in hospitals and clinics to monitor the health of patients. It allows users to access applications and patient data quickly and get instant access to the records they need. The market is segmented by Technology (Single-factor Authentication, Multi-factor Authentication, and Other Technologies), Application (Medical Record and Data Center Security, Patient Identification and Tracking, Care Provider Authentication, Home/Remote Patient Monitoring, Other Applications), End User (Hospital/Clinics, Research and Clinical Laboratory, Other End Users) and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.