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Healthcare Biometrics Market by Technology, Multifactor, Multimodal, Application, End User - Global Forecast to 2021

Healthcare Biometrics Market: Global Forecast until 2021

  • May 2016
  • 218 pages
  • ID: 3878146
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The healthcare biometrics market is estimated to grow $2848.30M by 2021 from $1182.60M by 2016, at a compound annual growth rate (CAGR) of 19.2% during the forecast horizon. The increase of this market is mainly driven by government actions to support the implementation of biometrics in healthcare facilities and growing healthcare fraud & medical identity theft. On the other hand, the high cost of biometric devices and issues associated to the use of biometric technologies are the main factors limiting the increase of the market.

North America continent commanded the biggest share of the overall healthcare biometrics market in 2015 and is anticipated to grow at the more important Compound annual growth rate of 20.20 percent during the forecast period. This increase can be accredited to rising government initiatives to assure data protection and the security of healthcare facilities and presence of big number of major players. Owing to this, biometric technologies are increasingly being adopted to comply with stringent laws including HIPAA and HITECH.

The Health Insurance Portability and Accountability Act of 1996 was passed as a federal law in the U.S.A to safeguard the confidentiality of Electronic Protected Health Information of patients. Under this law, covered entities including healthcare clearing houses, health plans, and healthcare providers, who transmit EPHI as a part of their business, are obligated to employ reasonable and appropriate levels of security to control access to EPHI. On top of, healthcare organizations that violate any HIPAA regulations face significant financial penalties. This changing regulatory scenario in the North American area has resulted in an upsurge in the industry demand for efficient security measures in order to comply with these norms.

Apart from the comprehensive regional study, product review, and sizing of market, the analysis also offers a competitive analysis that includes increase strategies approved by sector actors over the last three years. The corporation reviews include basic views on key competitors and their products review, advancements, and strategies approved. The above-mentioned segment research data, current market sizes, and projection of future trends will facilitate top players and new sector entrants make informed decisions regarding product offerings, spatial focus, change in strategic way, Research and development investments, and levels of output in order to remain profitable.

Why Purchasing This Study Can Help You:

The market research will increase both established firms as well as new entrants/smaller companies to measure the pulse of the sector, which in turn will facilitate organizations, collect a larger market share. Companies obtaining the industry report can use any one or an aggregation of the below-mentioned five strategies (sector entry, product improvement/innovative projects, sector development, business diversification, and opposing assessment) for strengthening their market shares.

This study furnishes highlights on the following points:

- Business entry: Exhaustive information on the product portfolios of the top actors in the healthcare biometrics market. The analysis examines the healthcare biometrics market by technology, application, end-user, and area

- Product improvement/Innovative products: In-depth understanding on up-on-coming technologies, Research&development activities, and recent product launches in the healthcare biometrics market

- Opposing assessment: In-depth assessment of market strategies, geographical and industry segments, and product review of the main players in the healthcare biometrics market

- Industry development: Highlighted information about profitable emerging sectors. The market research examines the sector for healthcare biometrics market across geographies

- Industry diversification: Complete information about recent products and services, untapped areas, recent evolutions, and market investments in the healthcare biometrics market

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