Global Biometric Healthcare Market to Reach $5.8 Billion By 2019

September 27, 2013 – by Peter B. Counter

In 2012 the global healthcare biometrics market was valued at $1.2 billion (USD). This encompasses all authenticating factors including fingerprint, face, iris, voice, vein, signature and hand recognition solutions, all of which have a wide variety of uses in the medical space, whether it’s in the area of physical access control, logical access control or transaction authentication, like modifying a patient’s electronic health record.

As proof that the healthcare industry is on the frontier of these technologies, and a major target of biometric vendors, Transparency Market Research has published a report detailing the exceptional growth that is expected to take hold of the biometric healthcare market.

According to Transparency, the global healthcare biometrics market will grow at a CAGR of 25.9 percent between 2013 and 2019, finally reaching an estimated value of $5.8 billion. As can be expected, fingerprint technology will be making up a large part of the market, approximately 50 percent over the marked period. This reflects the existing solutions that use USB peripherals as well as the increasing number of mobile devices that will be featuring native sensors in the coming years.

Fingerprints may have a strong existing foundation in this respect but the solutions that are going to be seeing the most rapid growth in the healthcare sector are contactless. Iris, palm-vein and face recognition will be expanding in demand as government standards and regulations push health care further into the use of biometrics to allow for proper, efficient and protected BYOD policies to be put in pace.

At last week’s Biometric Consortium Conference in Tampa, Florida, a great amount of talk on the exhibition floor was concerning biometrics in the healthcare vertical, especially for those who had been lucky enough to be a part of Dr. John D. Halamka’s keynote at the Biometrics UnPlugged: Mobility Rules event which preceded the conference and outlined the need for biometrics in health spaces with in depth use-cases.