Multimodal Biometrics in Healthcare Market Overview:
Multimodal Biometrics in Healthcare Market size was valued at USD 14.68 billion in 2022 and is expected to reach USD 42.96 billion by 2028, growing at a CAGR of 15.8% during the forecast period.
Information about a market within an industry or across industries is gathered in the Multimodal Biometrics in Healthcare Market study. The Multimodal Biometrics in Healthcare Market study covers a forecast period of 2022 to 2028 and contains analysis of both quantitative and qualitative data. The study is designed to account for a wide range of factors, including product pricing, product or service penetration at the national and regional levels, GDP of the country, market dynamics of the parent and child markets, end application industries, major players, consumer purchasing patterns, and the political, social, and economic environments of the various countries. In order to provide a thorough study of the market from every angle, the report is broken up into multiple divisions.
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The employment of two or more biometric authentication techniques to confirm a person's identity in the healthcare sector is known as multimodal biometrics. The growing requirement for safe, dependable patient identification and data protection has brought this technology a lot of attention in recent years. The growing use of electronic health records is one of the major factors propelling the multimodal biometrics market in the healthcare industry (EHRs). EHRs are being used by healthcare professionals more and more to keep track of patient information and guarantee that it is correct, safe, and available to authorized individuals. Multimodal biometric authentication techniques can improve EHR security and lower the possibility of identity theft, data breaches, and medical errors.
Another factor fuelling market expansion is the rising need for telehealth and remote patient monitoring services. The rapid use of telehealth services due to the COVID-19 pandemic has prompted healthcare providers to explore further avenues for enhancing the security and dependability of remote patient monitoring. Even when patients are receiving healthcare remotely, multimodal biometrics can assist guarantee that patient data is secure and correct.
Scope of the market:
This report provides estimates and information for the Multimodal Biometrics in Healthcare Market for the past, present, and future. An extensive research approach was used to establish the market estimates that are presented in the study. Multiple research channels are used in the adopted research approach, including primary, secondary, and subject-related expert input. The market estimations are determined by taking into account the many economic, social, and political aspects that impact the Multi-modal Biometrics in Healthcare Market in addition to the current market trends. The market data is also defined by different laws, government expenditure, and the expansion of research and development. The market projections take into account both favourable and unfavourable changes to the market.
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Market Drivers:
The need for safe and reliable patient identification is driving the growth of the multimodal biometrics market in the healthcare industry.
The necessity for precise and safe patient identification in the healthcare sector is one of the main drivers propelling the multimodal biometrics market. Healthcare institutions are relying more and more on biometric technologies for accurate patient identification and verification due to growing worries about medical identity theft and fraud. To increase the precision and dependability of patient identification, multimodal biometric systems incorporate many biometric identifiers, such as voice, facial, and fingerprint recognition.
In addition to ensuring patient safety, this technology lowers healthcare expenses and improves operational efficiency by doing away with the need for manual patient data matching and minimizing misidentification mistakes. Furthermore, the pandemic has raised the need for multimodal biometrics and other contactless biometric solutions in the healthcare industry. Contactless patient identification is made possible by contactless biometric technologies, which can also assist lower the risk of disease transmission.
Market Segments:
By Technology Type:
- Fingerprint Recognition
- Face Recognition
- Iris Recognition
- Voice Recognition
- Behavioural Biometrics
- Others
By Application:
- Patient Identification and Tracking
- Medical Record Management
- Remote Patient Monitoring
- Care Provider Authentication
- Pharmacy Dispensing
By End-User:
- Hospitals and Clinics
- Ambulatory Surgical Centres
- Diagnostic Centres
- Others
What is the Report's Objective?
It offers a thorough examination of the general growth outlook for both local and international markets. Additionally, it offers a synopsis of the global market's competitive environment. A dashboard summary of top businesses is also included in the research, along with information on their effective marketing plans, market shares, and most recent advancements in both historical and contemporary settings.
Market Regional Analysis:
Multimodal biometrics in healthcare is anticipated to be dominated by North America because of the region's existing healthcare infrastructure and early adoption of cutting-edge technologies. For instance, in 2020, a significant US-based healthcare provider and Face Phi, a top supplier of biometric solutions, collaborated to deploy multimodal biometrics technology for improved patient identities and security. For patient and staff identification, access control, and medical record management, healthcare companies in the area are also making significant investments in multimodal biometric systems Asia Pacific is also expected to experience significant growth in the multimodal biometrics in healthcare market due to the region's increasing healthcare expenditure, rising demand for advanced healthcare solutions, and supportive government initiatives. For instance, in 2020, the Indian government launched the National Digital Health Mission (NDHM) to promote the use of digital technologies, including biometric systems, to improve healthcare services across the country.
Top Leading Key Companies in this market are:
- NEC Corporation
- Fujitsu Limited
- 3M Cogent, Inc.
- Saffron S.A.
- Cross match Technologies, Inc.
- BIO-key International, Inc.
- Aware, Inc.
- Precise Biometrics AB
- M2SYS Technology
- Doan, Inc.
- Thales Group
- HID Global Corporation/ASSA ABLOY AB
- Suprema Inc.
- IDEMIA (formerly Morph)
- Cognatic Systems GmbH
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