Market Trends of Global Healthcare Biometrics Industry
This section covers the major market trends shaping the Healthcare Biometrics Market according to our research experts:
Multifactor-factor Authentication is Expected to Cover a Large Share of the Market Over the Forecast Period
Adding more authentication factors expands the security of any access management solution into multi-factor authentication (MFA). MFA offers scalable, tiered levels of security that can be deployed for controlling access to the most sensitive of data. Medical information, databases, and other valuable information should all deploy various levels of MFA, incorporating several factors, which can include passwords, secret questions, OTPs, location, user behavior, registered mobile devices, etc., other than biometrics.
According to the study titled "Advances in Feature Transformation based Medical Decision Support Systems for Health Informatics," published in the Hindwi Journal in March 2022, most biometrics authentication in healthcare is used for patient tracking and monitoring, although usage for access control, identification, workforce management, and patient record storage is also increasing. Hence all these factors, coupled with the safety of MFA over traditional methods, are expected to help the growth of the market.
However, technological advancements in the MFA system, such as touchless and face detection. The touchless MFA increased the safety and convenience of the clinician. For Instance, in June 2020, Caregility's telehealth platform has single sign-on (SSO) and multi-factor authentication (MFA) capabilities. End users can log into the platform with a single set of credentials and gain access to the various apps, websites, and data for which they have permissions, thanks to SSO enhancements. By reducing password fatigue, the feature improves security and system usability, as well as employee satisfaction.
Thus all aforementioned factors are expected to boost the segment growth over the forecast period.
North America is Expected to Dominate the Healthcare Biometrics Market During the Study Period
The North American region is expected to increase due to the high number of frauds and crimes occurring in the healthcare sector. The presence of a high incidence of fraudulent activities is expected to increase the rate of adoption of these technologically advanced biometric systems to gather patient data and registration data. Furthermore, the establishment of new healthcare facilities such as hospitals and clinics may act as a primary driving force for the growth of this market in the region.
Furthermore, several companies are starting various strategies like collaboration, new product launches, mergers, and acquisitions to maintain and increase their market share. For instance, in June 2021, Clear signed up for Atlantic Health as a partner for the digital ID provider's Health Pass, which features face biometrics for credential-binding and data security, to provide the health care network's patients with a digital proof of COVID-19 vaccination.
Moreover, various strategic activities adopted by the key market players, such as mergers and acquisitions, product launches, and partnerships, anticipated market growth. For instance, in February 2022, rf IDEAS partnered with ID R&D to bring its market-leading biometric authentication and anti-spoofing products to the rf IDEAS portfolio.
Additionally, in May 2021, Imprivata launched face biometrics for healthcare through the Aware and Idemia partnership. The new mobile face biometrics solution is intended to enable simplified self-enrollment for electronic prescriptions for controlled substances (EPCS) in compliance with the United States Drug Enforcement Agency (DEA) regulations.
Thus, owing to the above-mentioned factors, it is expected to aid the growth of the market studied in the North American region over the forecast period.
