Global Healthcare Biometrics Market to Expand at 25.90% CAGR from 2013 to 2019

Healthcare Biometrics Market to Gather Steam amidst Security Breaches and Medical Thefts The global healthcare biometrics market is likely to exhibit a highly positive CAGR of 25.90% within the forecast period of 2013 to 2019. Its value was recorded at US$1.2 bn in 2012 and is expected to reach US$5.8 bn by the end of 2019.

This data is published in a research report released by Transparency Market Research, titled “Healthcare Biometrics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019.” The 97-page report shines ample light on the factors that are responsible for shaping this market for the given forecast period.

Security has always remained a vital concern in healthcare sector when it comes to safeguard confidential medical data, records and patients’ privacy. Biometric devices analyze biological data of a user by capturing unique his or her physical human features and use them as a future reference (template) for user’s identification. The basic components of biometric identification systems consist of a scanning device or a reader, software to convert the scanned information into digital form and a database to store the biometric data for comparison with entered biometric data

With a vast collection of graphical and tabular representations, this market study highlights the ongoing trends in this market and throws light on the performance of this market so far. The report uses analytical tools such as the SWOT analysis and the Porter’s five forces analysis to weigh out the challenges and potential opportunities in the global healthcare biometrics market. This market research report segments the global healthcare biometrics market on the basis of technology, applications, and geography.

Browse Full Research Report on Healthcare Biometrics Market: http://www.transparencymarketresearch.com/healthcarebiometrics-market.html According to this report, healthcare biometrics are mainly used in the areas of transaction authentication, physical access control, and logical access control. Geographically, this report segments the global healthcare biometrics market into North America, Europe, Asia Pacific, and Rest of the World. This research report throws light on the competitive landscape of the global healthcare biometrics market by identifying the key companies operating in this market and by also describing the profiles of each. The information, data, facts, and figures compiled in this research report create a strong foundation for effective decision making.

The prominent factors which fuel the global healthcare biometrics market are the growing demand for practical alternatives to passwords, the pressing need for bringing down the incidence of healthcare frauds, and the financial benefits offered by healthcare biometrics. Biometrics devices capture certain physical features of users for future reference for the purpose of identification. A typical biometric devices is composed of the following: software for converting the scanned data into a digital format, a reader or a scanning device, and a database which stores the relevant biometric information for the purpose of comparison with the biometric data that has already been entered.

The increasing demand for biotherapeutics cell line development due to the rising aging population is expected to propel the North America biotherapeutics cell line development market in the years to come. In 2014, Asia Pacific was the third largest market in the global biotherapeutics cell line development market. It is expected that the Asia Pacific biotherapeutics cell line development market will grow at the highest CAGR through the forecast period.

On the basis of technology, the global healthcare biometrics market is segmented into signature recognition, vein recognition, fingerprint recognition, voice recognition, hand recognition, iris recognition, face recognition, and other techniques. The growing popularity of biometric self-service in

healthcare and palm vein biometric authentication are factors that will drive the global healthcare biometrics market in the years to come. The widening scope of application in this market will contribute significantly to the overall performance of the healthcare biometrics market during the forecast period.

The growing acceptance and adoption of biometrics in areas such as healthcare facilities, research laboratories, clinical laboratories, and hospitals is expected to fuel the global healthcare biometrics market in the forecasting horizon.

However, factors such as security and convenience trade-off and the storage of biometric template will hinder the growth of the global healthcare biometrics market in the forthcoming years.

North America is the largest regional player in the global healthcare biometrics market, owing to factors such as the strict implementation of rules such as the Health Insurance Portability and Accountability Act (HIPAA), and the widespread implementation of healthcare fraud and control systems.

Following are the key players operating in the global healthcare biometrics market: ZKTeco Inc., Suprema Inc., Siemens AG, Safran SA, NEC Corporation, M2SYS LLC, Lumidigm Inc.,

Fujitsu Ltd., DigitalPersona Inc., Cross Match Technologies Inc., Aware Inc., and 3M Cogent Inc. amongst others.

Browse Full Press Release on Healthcare Biometrics Market: Press Release

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