Biometrics As a Service in Healthcare Market Size, Share, By Component (Software, Services), By Modality (Unimodal, Multimodal), By End-User (Hospitals and clinics, Pharmacies, Insurance providers, Government healthcare agencies) and By Region - Trends, Analysis and Forecast till 2034

Report Code: PMI555224 | Publish Date: August 2024 | No. of Pages: 186

Biometrics As A Service In Healthcare Market Overview

Biometrics as a service in healthcare market size was valued at USD 862.66 Million in 2024 and is expected to reach USD 3666.41 Million by 2034, growing at a CAGR of 17.2%

With great thrust and needs, the healthcare domain is changing rapidly for an effective, secure, and patient-centric solution. At the root of these advancements lies the melding of technology with healthcare, and one such important aspect that is now coming to the forefront is that of biometric systems. Biometrics is the procedure for identifying and authenticating a person based on unique physical or behavioral characteristics. Biometrics as a Service is a cloud-based delivery model where healthcare institutions can avail themselves of biometric technology without significant upfront investments or developing in-house acumen. It makes it easy for healthcare providers to deploy biometric solutions according to needs through the cloud.

Therefore, the integration of biometrics into healthcare institutions has several associated advantages. It helps secure patient identification, which is necessary to avert medical errors and provide the correct medication without compromising the patient's privacy. It also extends a benefit for reducing access breaches or data leaks related to patients' sensitive information, with proper access control over the patient data. The other benefit is high administrative efficiency and operational productivity, therefore enabling the remote monitoring of patients. With the healthcare sector facing troubles in controlling rising costs, surging volumes of patients, and ever-tightening regulatory measures, now would be a time to consider a BaaS solution to help mitigate these problems. Scalable, secure, cost-effective biometric solutions for healthcare organizations desiring high-quality care and proper operation optimization—BaaS will be an ace.

Biometrics As a Service in Healthcare Market Size

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Biometrics As A Service In Healthcare Market Dynamics

Key Drivers of Target Market:

Improved Safety of Patients

  • Biometric authentication strengthens patient safety to a great extent by avoiding misidentification, which is one of the significant causes of medication error and incorrect treatment, leading to serious patient harm. It ensures proper identification of the right patient for the administration of the correct medications and dosage and treatment for the right medical condition. Additionally, biometrics can deny unauthorized access to patient records and protect sensitive health information, thus maintaining patient confidentiality.

High-Level Security

  • Biometrics offers an additional strong layer of security against unauthorized access to sensitive patient information, identity theft, and fraud. Biometric authentication will help build multilayer security frameworks for healthcare organizations to protect patient records against cyber-attacks and unauthorized access, among other security breaches. This is critical when cyber-attacks are on the rise and sensitive patient information has turned out to be a key target for malicious actors. Further, biometric systems can be integrated into access control systems and network security protocols to develop an all-inclusive security infrastructure.

 Restrains:

High Implementation Costs

  • Establishing the biometric infrastructure, such as hardware, software, and integration with existing systems, is very expensive to bear at the beginning of any healthcare organization. This will involve the cost of acquiring biometric devices, fingerprint scanners, iris recognition systems, facial recognition cameras, and licenses for the software capturing, analyzing, and storing data. In particular, integrating biometric technology into existing healthcare I.T. infrastructure may involve extensive system modifications and exceptional I.T. support, thus adding to implementation costs. Maintenance, updates, and support for the biometric system are some factors that add to the overall cost of ownership.

Opportunities:

Value-Added Patient Experience:

  • Biometric authentication will alter how patients connect with their healthcare providers. This technology has the potential to ease some of the burdens placed upon patients at the check-in, access control, and appointment scheduling stages. Moreover, it helps personalize care, letting healthcare providers know their patients quickly and accurately for accessing medical history to raise patient satisfaction and loyalty.

Remote patient monitoring:

  • Biometric data recorded through wearable devices or other sensors may be transmitted to healthcare providers in order to monitor patients with chronic diseases remotely continuously. This, in turn, will facilitate very early detection of complications, proactive intervention, and hence better management of chronic diseases. That is, remote patient monitoring empowers the patient to participate actively in health care, leading to better patient outcomes and a reduced load on healthcare systems.

Biometrics As A Service In Healthcare Market Segmentation

The market is segmented based on Component, Modality, End-User, and Region.

By Component:

  • Software: BaaS has a robust suite of software tools for managing and utilizing biometric data accurately and fast within the healthcare ecosystem. It helps mainly in capturing and processing the required biometric information with very high levels of accuracy and speed, securely authenticating an individual and verifying them, storing, managing, and retrieving the details of the biometrics with high efficiency in compliance with the stringent guidelines of privacy and data. This software interfaces easily with the available, already-existing healthcare I.T. infrastructure, enabling data exchange and interoperability of systems. Advanced analytics capabilities derive valuable insights from biometric data to support the very principle of data-driven decisions and better patient care. User-friendly interfaces stand in the way of an overall enhanced experience for both the healthcare provider and the patient for smooth interaction with the biometric system.
  • Services: Provide the required competencies, and the infrastructure allows a health institution to take advantage of biometric technologies without needing in-house development. Some of the packages offered within these services include biometric data collection, analysis, storage, and integration. Outsourcing such functions to specialized providers will help healthcare institutions focus on the core competencies while maximizing the latest innovations in biometric technology. BaaS service providers disburse customized solutions to suit the needs of healthcare organizations to optimize the use of biometric data toward betterment in patient care and operational efficiency.

By Modality:

  • Unimodal: This relies on a single biometric identity characteristic: fingerprint, iris, or facial feature recognition. Although relatively easily implemented, it is open to false identity claims or is spoofed. Examples of further exploitation of unimodal vulnerabilities by adversaries include a means of introducing manipulated data, either in the form of forgeries or fakes, into the biometric system to potentially compromise the identification process.
  • Multimodal: This identification method combines two or more traits to make the identity more robust and secure. In this process, with data assimilation from multiple characteristics such as fingerprints, facial features, or iris patterns, the accuracy increases noticeably. At the same time, the potential for false negatives or positives is reduced considerably. Therefore, This approach is precious in high-security environments where the risk of unauthorized access is critical.

 By End-User:

  • Hospitals and clinics: The noticeable effects of implementing BaaS for patient identification, access control, and other related applications will definitely touch a patient's life. This, in turn, can save a great amount of time in the hospital during the day and, thus, increase operational efficiency. Ensuring safety, reducing errors, and optimizing resource use are achievable through streamlining patient registration, ensuring the correctness of administering medications, and securing sensitive medical files.
  • Pharmacies:  can enhance patient safety and business operations through BaaS prescription verification, fraud prevention, and patient loyalty programs. BaaS will elevate patients' confidence in pharmacies, meaning better trust optimization, leading to medication adherence and minimal business operations, thus improving customer satisfaction.
  • Insurance providers: In identity verification, processing, and fraud detection, BaaS is used to help ease operations while saving money. It helps identify, quickens the claims process, and prevents fraudulent claims, improving customer experiences and operations with no threats or possible financial risks.
  • Government healthcare agencies: BaaS can help handle patient data, ensure its security, and advance population health objectives to achieve quality in healthcare delivery. That would help governmental agencies in population health management by providing secure, authorized access to the records of patients for health actions, protecting sensitive health information, and facilitating data-driven insights. It also enhances research efforts and strengthens health equity.

Regional Insights

  • North America: Dominated the largest market share in BaaS in healthcare, followed by the early adoption of advanced technologies and an increasing focus on patient safety and data security. A robust infrastructural setup in healthcare and a rigid regulatory environment enabled the United States to become one of the major contributors to market growth. The growth of expenditure on healthcare, an increase in chronic diseases, and growing patient-centric care are some of the major factors driving the demand for BaaS solutions in the region.
  • Asia Pacific: Region is fast-growing in the BaaS healthcare market due to increased spending on healthcare and a rise in population. The increasing adoption of digital health technologies fuels the growth further. Government initiatives power this growth in countries like China and India, which are meant to increase access and affordability to healthcare. The large population, coupled with rising cases of chronic diseases, presents immense scope for BaaS providers.
  • Europe: The region has a very developed healthcare infrastructure, with a central focus on patient data privacy and security. Therefore, due to the adoption rate in major countries such as Germany, the U.K., and France, where the advanced healthcare infrastructure is developed, this region is readily adopting biometric technologies. With increasing focus on interoperability and standardization of healthcare I.T. systems, demands for BaaS solutions in Europe are likely to grow.
  • Latin America: Though the healthcare BaaS market is in its initial stages of growth, Latin America is one such continent that holds substantial growth prospects. Increased spending on healthcare, coupled with a growing middle class against whom chronic diseases have become common, will most likely drive market growth. However, such growth may be somewhat restricted by infrastructural limitations and economic instability.
  • The Middle East and Africa: region are very diversified in the BaaS healthcare market. The advanced healthcare infrastructure of countries like the United Arab Emirates and South Africa fuels the growth in adopting biometric technologies. However, in some countries, this market growth has been prejudiced by economic disparities, limitations concerning infrastructure, and a lack of awareness about the solutions offered

Biometrics As a Service in Healthcare Market Report Scope:

Attribute

Details

Market Size 2024

USD 862.66 Million 

Projected Market Size 2034

USD 3666.41 Million

CAGR Growth Rate

17.2%

Base year for estimation

2023

Forecast period

2024 – 2034

Market representation

Revenue in USD Million & CAGR from 2024 to 2034

Market Segmentation

By Component - Software, Services

By Modality - Unimodal, Multimodal

By End-User - Hospitals and clinics, Pharmacies, Insurance providers, Government healthcare agencies

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Hospitals and clinics, Pharmacies, Insurance providers, Government healthcare agencies, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study segmented the target market report based on Component, Modality, End-User and Region.

Segmentation:

By Component:

  • Software
  • Services

By Modality:

  • Unimodal
  •  Multimodal

By End-User:

  • Hospitals and clinics
  • Pharmacies
  •  Insurance providers
  •  Government healthcare agencies

By Region:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa

Biometrics As A Service In Healthcare Market Key Players

The key players operating the Biometrics As a Service in Healthcare Market include Fujitsu, NEC CORPORATION, Suprema, Thales, Aware, Inc., BIO-key International, Cognitec Systems GmbH, Daon, Inc., M2SYS Technology, Cogent Systems, Assa Abloy, Precise Biometrics, ZKTeco, and Crossmatch Technologies.

Biometrics As a Service in Healthcare Market Players

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Biometrics As A Service In Healthcare Market Key Issues Addressed

  • In April 2024, Entrust finalized the acquisition of Onfido, and Vision-Box closed a deal with Amadeus. Months after reaching an initial agreement, authentication company Entrust has finalized the acquisition of selfie biometrics provider Onfido. Similarly, Amadeus finalized the acquisition of Vision-Box upon receiving the final nod from regulators.
  • In May 2024, Materna IPS became SITA's 'biggest acquisition ever.' Sita announced its acquisition of Materna IPS, an I.T. services company specializing in passenger handling for air travel. Sita, meanwhile, is best known for its biometric systems – including facial recognition for seamless check-in, boarding, and security processes.

Biometrics As A Service In Healthcare Market Company Profile

  • Fujitsu
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
  • NEC CORPORATION
  • Suprema
  • Thales
  • Aware, Inc.
  • BIO-key International
  • Cognitec Systems GmbH
  • Daon, Inc.
  • M2SYS Technology
  • Cogent Systems
  • Assa Abloy
  • Precise Biometrics
  • ZKTeco

“*” marked represents similar segmentation in other categories in the respective section.

FAQs

Biometrics as a Service in Healthcare market size was valued at USD 862.66 Million in 2024 and is expected to reach USD 3666.41 Million by 2034, growing at a CAGR of 17.2%

Biometrics as a Service in the Healthcare Market is segmented into Components, Modalities, End-User, and Regions.

Factors driving the market include improved patient safety and high-level security.

Biometrics as a Service in the Healthcare Market's restraints includes High Implementation Costs.

Region segments the Biometrics as a Service in the Healthcare Market into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. North America is expected to dominate the Market.

The key players operating the Biometrics as a Service in Healthcare Market include Fujitsu, NEC CORPORATION, Suprema, Thales, Aware, Inc., BIO-key International, Cognitec Systems GmbH, Daon, Inc., M2SYS Technology, Cogent Systems, Assa Abloy, Precise Biometrics, ZKTeco.