Report: Healthcare Biometrics Market will Hit $5.6 Billion by 2022

“At the moment, North America has the largest market for biometric healthcare tech, with Europe and Asia also displaying a strong interest in the technology…”

Biometrics News - Report: Healthcare Biometrics Market will Hit $5.6 Billion by 2022

A new report from Market Research Future is predicting that the global healthcare biometrics market will hit $5.6 billion by 2022, which would represent a CAGR of 22.3 percent since 2016.

The firm credits the development of new applications – and the growing awareness of those applications – for much of the growth, although it noted that the healthcare industry has been slower to adopt biometric technology than other industries like finance. Biometric technology is currently being deployed for a variety of purposes, including patient identification, electronic medical records, and data security.  

At the moment, North America has the largest market for biometric healthcare tech, with Europe and Asia also displaying a strong interest in the technology. Market Research Future identified companies like Fujitsu, NEC, Bio-Key, Suprema, and Imprivata as some of the leading players in the space.

The Market Research Future numbers are in keeping with similar reports from other firms. Visiongain predicted that the global healthcare biometrics market would top $5 billion by 2023, while Grand View Research forecasts that it will reach $14.5 billion by 2025. The CAGR was nearly the same in all three cases, with Visiongain and Grand View projecting a CAGR of 22.3 percent and 24.2 percent, respectively.

Source: Consumer Reports Review

July 25, 2019 – by Eric Weiss