Global Fingerprint Recognition in Healthcare Market Analysis By technology (Capacitive, Optical, Thermal, Ultrasonic), By application (Patient identification and data access control, Medical record management, Prescription authentication, Others), By end-user (Hospitals and clinics, Ambulatory surgical centers, Research and academic institutes, Others) & Forecast
- PUBLISHED ON
- 2024-04-27
- NO OF PAGES
- 263
- CATEGORY
- Healthcare & Life Sciences
The global fingerprint recognition in healthcare market size was valued at USD 1.14 billion in 2022 and is expected to reach USD 18.25 million by 2032, growing at a CAGR of 10.8% during the forecast period.
Overall, the fingerprint recognition in healthcare market is expected to grow in the coming years, driven by the above trends and opportunities. The technology is becoming increasingly important for secure and efficient patient identification, access control, and medical record management in the healthcare industry.
Report Scope
Report Attributes | Description |
Market Size in 2022 | USD 1.14 Billion |
Market Forecast in 2032 | USD 18.25 Billion |
CAGR % 2023-2032 | 10.8% |
Base Year | 2022 |
Historic Data | 2019-2021 |
Forecast Period | 2023-2032 |
Report USP | Production, Consumption, company share, company heatmap, company production capacity, growth factors and more |
Segments Covered | By Technology, By Application, By end-user |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | NEC Corporation, Crossmatch Technologies, Inc., BIO-key International, Inc., 3M Cogent, Inc., SecuGen Corporation, Fujitsu Limited, HID Global Corporation, ZKTeco Inc., Suprema Inc., IDEMIA, M2SYS Technology, Integrated Biometrics, Aware, Inc., NITGEN Co., Ltd., Anviz Global Inc. |
Driver: Growing demand for secure and efficient patient identification is propelling Fingerprint Recognition in Healthcare Market growth.
One significant driving factor for the growth of the fingerprint recognition in healthcare market is the increasing demand for secure and efficient patient identification. In the healthcare industry, accurate and secure patient identification is critical for ensuring patient safety and delivering quality care. Traditional methods of patient identification, such as using a patient's name and date of birth, can be prone to errors and may not be unique enough to prevent fraud. Fingerprint recognition technology provides a highly secure and efficient way to identify patients, making it a valuable tool for healthcare providers. Fingerprint recognition can help reduce errors and prevent fraud, ensuring accurate and efficient patient identification. This is particularly important as the healthcare industry moves towards electronic health records (EHRs) and telehealth, where reliable patient identification is essential for the success of these initiatives. Moreover, fingerprint recognition can also help healthcare providers to quickly access patient information, manage medical records, and ensure patient privacy. The technology can also be used for access control, preventing unauthorized access to sensitive areas and equipment, and enhancing the overall security of healthcare facilities. As a result, the increasing demand for secure and efficient patient identification is expected to drive the adoption of fingerprint recognition solutions in the healthcare industry, contributing to the growth of the fingerprint recognition in healthcare market.
Segmentation:
By technology, the market can be segmented into:
• Capacitive
• Optical
• Thermal
• Ultrasonic
By application, the market can be segmented into:
• Patient identification and data access control
• Medical record management
• Prescription authentication
• Others
By end-user, the market can be segmented into:
• Hospitals and clinics
• Ambulatory surgical centers
• Research and academic institutes
• Others
Geographical Analysis:
North America currently dominates the fingerprint recognition in healthcare market, with the largest share of the market attributed to the high adoption of fingerprint recognition solutions in the healthcare sector, along with the presence of major players in the region. In 2020, North America accounted for the largest share of the global fingerprint recognition in healthcare market. This can be attributed to the high adoption of electronic health records and increasing demand for secure patient identification in healthcare facilities in the region. Additionally, the presence of major players in the region, such as NEC Corporation, 3M Cogent, Inc., and Crossmatch Technologies, Inc., is also contributing to the dominance of North America in the market.
The United States is the largest market for fingerprint recognition in healthcare in North America, with a significant adoption of electronic health records and an increasing need for secure patient identification. For instance, in 2019, the US Department of Veterans Affairs (VA) implemented fingerprint recognition technology in its facilities to improve patient identification and prevent identity theft.
Canada is also a significant market for fingerprint recognition in healthcare, driven by the increasing adoption of electronic health records and the need for secure patient identification. For example, in 2020, the University of Alberta Hospital in Canada implemented a biometric identification system using fingerprint recognition technology to improve patient identification and reduce wait times.
Overall, North America is expected to maintain its dominance in the fingerprint recognition in healthcare market in the coming years, due to the increasing adoption of electronic health records, rising healthcare spending, and government initiatives to improve healthcare infrastructure and technology in the region.
Recent Development: Global Fingerprint Recognition in Healthcare Market
• NEC Corporation: In August 2020, NEC Corporation announced the development of a new contactless, palm print recognition technology that can be used for various applications, including healthcare. The technology uses AI and can accurately recognize an individual's palm print, even if the palm is partially covered or has scars.
• Crossmatch Technologies, Inc.: In February 2020, HID Global, a subsidiary of Crossmatch Technologies, Inc., launched a new biometric fingerprint reader designed for healthcare applications. The reader is compact and can be easily integrated into various healthcare devices and equipment.
• BIO-key International, Inc.: In May 2020, BIO-key International, Inc. announced that it had partnered with Caradigm, a leading provider of healthcare IT solutions, to offer biometric authentication solutions for healthcare organizations. The solutions provide secure access to electronic health records and other healthcare applications using fingerprint recognition technology.
• 3M Cogent, Inc.: In June 2020, 3M Cogent, Inc. announced that its fingerprint recognition technology had been selected by the National Health Insurance Service (NHIS) in South Korea for use in its healthcare facilities. The technology will be used to improve patient identification and reduce medical errors.
• SecuGen Corporation: In September 2020, SecuGen Corporation announced the launch of a new fingerprint reader designed specifically for healthcare applications. The reader is compact and can be easily integrated into various healthcare devices and equipment, and provides accurate and reliable fingerprint recognition in various conditions, including wet or dry fingers.
Company Profiles:
• NEC Corporation
• Crossmatch Technologies, Inc.
• BIO-key International, Inc.
• 3M Cogent, Inc.
• SecuGen Corporation
• Fujitsu Limited
• HID Global Corporation
• ZKTeco Inc.
• Suprema Inc.
• IDEMIA
• M2SYS Technology
• Integrated Biometrics
• Aware, Inc.
• NITGEN Co., Ltd.
• Anviz Global Inc.
 
Why to buy this Report?
Market research: The report provides valuable insights into market trends, growth opportunities, and competitive landscapes. By reading a technology report, businesses and investors can gain a better understanding of Fingerprint Recognition in Healthcare Market they are operating in or considering entering, and make more informed decisions based on data and analysis.
Competitive analysis: The report reports provide detailed information on competitors' strengths, weaknesses, and strategies, which can help businesses identify potential threats and opportunities in Fingerprint Recognition in Healthcare Market.
Innovation: The report provides insights into emerging technologies and trends, which can help businesses stay up-to-date with the latest developments and make informed decisions about where to invest their resources.
Due diligence: The report can be used by investors and acquirers as part of their due diligence process when considering investing in or acquiring a technology company. These reports can provide valuable information on the company's financials, technology, market position, and other key factors.
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
- Project kickoff meeting with client
- Conduct frequent client communications
- Form project steering committee
- Assign a senior SR executive as QA Executive
- Conduct internal editorial & quality reviews of project deliverables
- Certify project staff in SR methodologies & standards
- Monitor client satisfaction
- Monitor realized value post-project
Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
}})
Select a license type that suits your business needs
US $3499
Only Three Thousand Four Hundred Ninety Nine US dollar
- 1 User access
- 15% Additional Free Customization
- Free Unlimited post-sale support
- 100% Service Guarantee until achievement of ROI
US $4499
Only Four Thousand Four Hundred Ninety Nine US dollar
- 5 Users access
- 25% Additional Free Customization
- Access Report summaries for Free
- Guaranteed service
- Dedicated Account Manager
- Discount of 20% on next purchase
- Get personalized market brief from Lead Author
- Printing of Report permitted
- Discount of 20% on next purchase
- 100% Service Guarantee until achievement of ROI
US $5499
Only Five Thousand Four Hundred Ninety Nine US dollar
- Unlimited User Access
- 30% Additional Free Customization
- Exclusive Previews to latest or upcoming reports
- Discount of 30% on next purchase
- 100% Service Guarantee until achievement of ROI