Biometrics As A Service In Healthcare Market
PUBLISHED: 2024 ID: SMRC26121
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Biometrics As A Service In Healthcare Market

Biometrics As a Service in Healthcare Market Forecasts to 2030 - Global Analysis By Type (Multimodal, Unimodal and Other Types), Scanner Type, Component, Deployment, Application, End User and By Geography

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4.6 (57 reviews)
Published: 2024 ID: SMRC26121

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Biometrics as a Service in Healthcare Market is accounted for $0.4 billion in 2023 and is expected to reach $1.6 billion by 2030 growing at a CAGR of 22.7% during the forecast period. Biometrics as a Service (BaaS) in healthcare refers to the provision of biometric authentication and identification services to healthcare organizations through a cloud-based or outsourced model. This involves using unique physical or behavioral characteristics of individuals, such as fingerprints, iris patterns, voice recognition, or facial features, to verify their identity. Biometric authentication can be used to control access to sensitive areas within healthcare facilities, such as medication storage areas or electronic health records (EHR) systems, enhancing security.

Market Dynamics: 

Driver: 

Demand for advanced solutions

The demand for advanced solutions in Biometrics as a Service (BaaS) is rapidly growing in the market. With an emphasis on security, accuracy, and efficiency, healthcare providers are turning to BaaS for patient identification, access control, and data protection. It offers scalable and customizable biometric solutions, facilitating seamless integration with existing healthcare systems. This trend is driven by the need for robust authentication methods, compliance with regulations, and the increasing adoption of digital health technologies.

Restraint:

Privacy Concerns

In the market within healthcare, privacy concerns are paramount. As biometric data like fingerprints and facial recognition become central to patient identification, securing this sensitive information is critical. Challenges arise in ensuring data encryption, secure storage, and compliance with regulations. Unauthorized access or data breaches could lead to identity theft or misuse of personal health information, highlighting the crucial need for robust privacy measures in BaaS solutions.

Opportunity:

Improved patient experience

Biometrics as a Service (BaaS) is revolutionizing healthcare by enhancing patient experiences. Through seamless integration of biometric technologies like fingerprint or facial recognition, BaaS streamlines patient identification, reducing wait times and administrative burdens. This improves overall efficiency, leading to quicker access to care and more personalized services. These advancements elevate the healthcare journey, prioritizing convenience and safety for patients across the board.

Threat:

Cost of implementation

Operational expenses such as maintenance, updates, and support services also contribute to the overall implementation cost. Furthermore, compliance and security measures add to expenses, ensuring that patient data remains protected and meets regulatory standards. Altogether, the cost of implementing in the healthcare market can vary widely depending on the scale, complexity, and specific requirements of the deployment.

Covid-19 Impact: 

The COVID-19 pandemic significantly impacted the Biometrics as a Service (BaaS) in Healthcare market. It led to an increased adoption of biometric solutions for contactless patient identification, authentication, and access control, promoting hygiene and safety measures. This surge in demand accelerated the development of innovative biometric technologies tailored for healthcare settings. However, supply chain disruptions and economic challenges temporarily hindered market growth, leading to a period of adaptation and strategic restructuring among industry players.

The palm recognition segment is expected to be the largest during the forecast period

The palm recognition segment is expected to be the largest during the forecast period. Palm recognition technology in BaaS is revolutionizing healthcare by enhancing security and efficiency. By analyzing palm vein patterns, these systems authenticate patients, ensuring accurate medical record access and preventing identity fraud. This technology's seamless integration with healthcare workflows streamlines processes, from patient check-ins to medication dispensing, fostering a safer and more streamlined healthcare environment.

The insurance frauds segment is expected to have the highest CAGR during the forecast period

The insurance frauds segment is expected to have the highest CAGR during the forecast period. Malicious actors exploit vulnerabilities in biometric data systems, fabricating identities or manipulating data for financial gain. These fraudulent activities not only pose financial risks to insurers but also compromise patient privacy and trust. Stakeholders must prioritize robust security measures and regulatory compliance to mitigate these risks and ensure the integrity of biometric data in healthcare services.

Region with largest share:

North America is projected to hold the largest market share during the forecast period driven by increasing demand for secure and convenient patient identification solutions. Biometric technologies such as fingerprint recognition, iris scanning, facial recognition, and voice recognition are being increasingly used in healthcare settings for tasks such as patient identification, access control, and secure authentication for electronic health records (EHRs) and telemedicine platforms.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period due to advancements in technology and increased adoption of digital solutions. BaaS offers secure and efficient patient identification, access control, and data protection, addressing key challenges in healthcare. Factors such as rising healthcare digitization, stringent regulatory standards, and the need for improved patient experiences are driving the expansion of BaaS solutions across the region. 

Key players in the market

Some of the key players in Biometrics As a Service in Healthcare market include Thales, Fujitsu, BIO-key International, NEC Corporation, Aware, Inc., NextGate, Imprivata, Inc., Suprema, Imageware, M2SYS Technology, Xerox Corporation, Ingenico Group, Innovatrics, 3M Company, Integrated Biometrics., CyberExtruder, and OneSpan.

Key Developments:

In June 2023, NEC Corporation announced the launch of its new biometric authentication solution, NEC Biometric Engine. The solution is designed to help healthcare organizations improve patient safety and security by providing a more secure and convenient way to identify patients.

In May 2023, Fujitsu announced the expansion of its biometrics portfolio with the launch of its new palm vein authentication solution. The solution is designed to be used in a variety of healthcare applications, such as patient identification, access control, and payment.

Types Covered:
• Multimodal
• Unimodal
• Other Types

Scanner Types Covered:
• IRIS Recognition
• Palm Recognition
• Facial Recognition
• Fingerprint Recognition
• Voice Recognition 

Components Covered:
• Software 
• Services 

Deployments Covered:
• Cloud-Based
• On-Premises 

Applications Covered:
• Medical Record Security & Data Center Security
• Care Provider Authentication
• Insurance Frauds
• Pharmacy Dispensing
• Other Applications

End Users Covered:
• Hospitals & Clinics
• Ambulatory Surgical Centers
• Diagnostic Centers
• Home Care Settings
• Other End Users 

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary        
          
2 Preface         
 2.1 Abstract        
 2.2 Stake Holders       
 2.3 Research Scope       
 2.4 Research Methodology      
  2.4.1 Data Mining      
  2.4.2 Data Analysis      
  2.4.3 Data Validation      
  2.4.4 Research Approach      
 2.5 Research Sources       
  2.5.1 Primary Research Sources     
  2.5.2 Secondary Research Sources     
  2.5.3 Assumptions      
          
3 Market Trend Analysis       
 3.1 Introduction       
 3.2 Drivers        
 3.3 Restraints       
 3.4 Opportunities       
 3.5 Threats        
 3.6 Application Analysis      
 3.7 End User Analysis       
 3.8 Emerging Markets       
 3.9 Impact of Covid-19       
          
4 Porters Five Force Analysis       
 4.1 Bargaining power of suppliers      
 4.2 Bargaining power of buyers      
 4.3 Threat of substitutes      
 4.4 Threat of new entrants      
 4.5 Competitive rivalry       
          
5 Global Biometrics As a Service in Healthcare Market, By Type     
 5.1 Introduction       
 5.2 Multimodal       
 5.3 Unimodal       
 5.4 Other Types       
          
6 Global Biometrics As a Service in Healthcare Market, By Scanner Type   
 6.1 Introduction       
 6.2 Iris Recognition       
 6.3 Palm Recognition       
 6.4 Facial Recognition       
 6.5 Fingerprint Recognition      
 6.6 Voice Recognition       
          
7 Global Biometrics As a Service in Healthcare Market, By Component   
 7.1 Introduction       
 7.2 Software        
  7.2.1 Biometric Enrollment Software    
  7.2.2 Biometric Identification Software    
  7.2.3 Security and Encryption Software    
  7.2.4 Interoperability Software     
 7.3 Services        
  7.3.1 Patient Access Management     
  7.3.2 Security and Compliance Management    
  7.3.3 Integration Services      
          
8 Global Biometrics As a Service in Healthcare Market, By Deployment   
 8.1 Introduction       
 8.2 Cloud-Based       
 8.3 On-Premises       
          
9 Global Biometrics As a Service in Healthcare Market, By Application   
 9.1 Introduction       
 9.2 Medical Record Security & Data Center Security    
 9.3 Care Provider Authentication      
 9.4 Insurance Frauds       
 9.5 Pharmacy Dispensing      
 9.6 Other Applications       
          
10 Global Biometrics As a Service in Healthcare Market, By End User   
 10.1 Introduction       
 10.2 Hospitals & Clinics       
 10.3 Ambulatory Surgical Centers      
 10.4 Diagnostic Centers       
 10.5 Home Care Settings       
 10.6 Other End Users       
          
11 Global Biometrics As a Service in Healthcare Market, By Geography   
 11.1 Introduction       
 11.2 North America       
  11.2.1 US       
  11.2.2 Canada       
  11.2.3 Mexico       
 11.3 Europe        
  11.3.1 Germany       
  11.3.2 UK       
  11.3.3 Italy       
  11.3.4 France       
  11.3.5 Spain       
  11.3.6 Rest of Europe      
 11.4 Asia Pacific       
  11.4.1 Japan       
  11.4.2 China       
  11.4.3 India       
  11.4.4 Australia       
  11.4.5 New Zealand      
  11.4.6 South Korea      
  11.4.7 Rest of Asia Pacific      
 11.5 South America       
  11.5.1 Argentina      
  11.5.2 Brazil       
  11.5.3 Chile       
  11.5.4 Rest of South America     
 11.6 Middle East & Africa      
  11.6.1 Saudi Arabia      
  11.6.2 UAE       
  11.6.3 Qatar       
  11.6.4 South Africa      
  11.6.5 Rest of Middle East & Africa     
          
12 Key Developments        
 12.1 Agreements, Partnerships, Collaborations and Joint Ventures   
 12.2 Acquisitions & Mergers      
 12.3 New Product Launch      
 12.4 Expansions       
 12.5 Other Key Strategies      
          
13 Company Profiling        
 13.1 Thales        
 13.2 Fujitsu        
 13.3 BIO-key International      
 13.4 NEC Corporation       
 13.5 Aware, Inc.       
 13.6 NextGate, Imprivata, Inc.      
 13.7 Suprema        
 13.8 Imageware       
 13.9 M2SYS Technology       
 13.10 Xerox Corporation       
 13.11 Ingenico Group       
 13.12 Innovatrics       
 13.13 3M Company       
 13.14 Integrated Biometrics       
 13.15 CyberExtruder       
 13.16 OneSpan        

          
List of Tables         
1 Global Biometrics As a Service in Healthcare Market Outlook, By Region (2021-2030) ($MN) 
2 Global Biometrics As a Service in Healthcare Market Outlook, By Type  (2021-2030) ($MN) 
3 Global Biometrics As a Service in Healthcare Market Outlook, By Multimodal (2021-2030) ($MN)
4 Global Biometrics As a Service in Healthcare Market Outlook, By Unimodal (2021-2030) ($MN) 
5 Global Biometrics As a Service in Healthcare Market Outlook, By Other Types (2021-2030) ($MN)
6 Global Biometrics As a Service in Healthcare Market Outlook, By Scanner Type (2021-2030) ($MN)
7 Global Biometrics As a Service in Healthcare Market Outlook, By Iris Recognition (2021-2030) ($MN)
8 Global Biometrics As a Service in Healthcare Market Outlook, By Palm Recognition (2021-2030) ($MN)
9 Global Biometrics As a Service in Healthcare Market Outlook, By Facial Recognition (2021-2030) ($MN)
10 Global Biometrics As a Service in Healthcare Market Outlook, By Fingerprint Recognition (2021-2030) ($MN)
11 Global Biometrics As a Service in Healthcare Market Outlook, By Voice Recognition (2021-2030) ($MN)
12 Global Biometrics As a Service in Healthcare Market Outlook, By Component (2021-2030) ($MN)
13 Global Biometrics As a Service in Healthcare Market Outlook, By Software (2021-2030) ($MN) 
14 Global Biometrics As a Service in Healthcare Market Outlook, By Biometric Enrollment Software (2021-2030) ($MN)
15 Global Biometrics As a Service in Healthcare Market Outlook, By Biometric Identification Software (2021-2030) ($MN)
16 Global Biometrics As a Service in Healthcare Market Outlook, By Security and Encryption Software (2021-2030) ($MN)
17 Global Biometrics As a Service in Healthcare Market Outlook, By Interoperability Software (2021-2030) ($MN)
18 Global Biometrics As a Service in Healthcare Market Outlook, By Services (2021-2030) ($MN) 
19 Global Biometrics As a Service in Healthcare Market Outlook, By Patient Access Management (2021-2030) ($MN)
20 Global Biometrics As a Service in Healthcare Market Outlook, By Security and Compliance Management (2021-2030) ($MN)
21 Global Biometrics As a Service in Healthcare Market Outlook, By Integration Services (2021-2030) ($MN)
22 Global Biometrics As a Service in Healthcare Market Outlook, By Deployment (2021-2030) ($MN)
23 Global Biometrics As a Service in Healthcare Market Outlook, By Cloud-Based (2021-2030) ($MN)
24 Global Biometrics As a Service in Healthcare Market Outlook, By On-Premises (2021-2030) ($MN)
25 Global Biometrics As a Service in Healthcare Market Outlook, By Application (2021-2030) ($MN)
26 Global Biometrics As a Service in Healthcare Market Outlook, By Medical Record Security & Data Center Security (2021-2030) ($MN)
27 Global Biometrics As a Service in Healthcare Market Outlook, By Care Provider Authentication (2021-2030) ($MN)
28 Global Biometrics As a Service in Healthcare Market Outlook, By Insurance Frauds (2021-2030) ($MN)
29 Global Biometrics As a Service in Healthcare Market Outlook, By Pharmacy Dispensing (2021-2030) ($MN)
30 Global Biometrics As a Service in Healthcare Market Outlook, By Other Applications (2021-2030) ($MN)
31 Global Biometrics As a Service in Healthcare Market Outlook, By End User (2021-2030) ($MN) 
32 Global Biometrics As a Service in Healthcare Market Outlook, By Hospitals & Clinics (2021-2030) ($MN)
33 Global Biometrics As a Service in Healthcare Market Outlook, By Ambulatory Surgical Centers (2021-2030) ($MN)
34 Global Biometrics As a Service in Healthcare Market Outlook, By Diagnostic Centers (2021-2030) ($MN)
35 Global Biometrics As a Service in Healthcare Market Outlook, By Home Care Settings (2021-2030) ($MN)
36 Global Biometrics As a Service in Healthcare Market Outlook, By Other End Users (2021-2030) ($MN)
          
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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