The global healthcare biometrics market is in for considerable growth over the next few years, according to a new report from Transparency Market Research. Looking at the forecast period of 2013 to 2019, TMR predicts a CAGR of 25.9 percent.
North America is the biggest region in the global market and will remain so for the forecast period, but its marketshare will decline slightly, from 44 percent in 2012 to 42.1 percent in 2019. This is mostly due to growth in the APAC region, which will take increasing marketshare as the more mature North American market stagnates.
TMR also predicts a “high level of consolidation efforts”, with mergers, acquisitions, collaborations, and the like holding “immense growth avenues” for concerned businesses. Among the biggest of those are BIO-key and Suprema, as well as Fujitsu and 3M Cogent.
As for the technology applications driving the market, TMR identifies the major driver as patient identification, biometric identification offering a reliable link to electronic health records, and fast access for care providers. It’s also helping organizations to “save billions of dollars each year,” largely by improving administrative efficiency.
Given the benefits, it’s no surprise that the technology is proving popular in the healthcare sector.
July 29, 2016 – by Alex Perala