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Healthcare Biometrics Market to Reach Valuation of USD 7,606.0 Million By 2028 – Growing Demand for Health Care Fraud Prevention Along with The Need to Improve Patient Privacy Drives the Market
In terms of revenue, the Global Healthcare Biometrics Market is expected to reach USD 7,606.0 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 18.7% from 2022 to 2028.
"biometrics" refers to the technologies used to assess everyone's distinctive behavioral and physical characteristics. It is primarily used to authenticate, identify, and recognize people under surveillance. Security has always been a primary priority in the healthcare sector regarding protecting patient privacy, medical data, and personal information. The growth of the patient population and the enormous amount of healthcare data will be the main factors fuelling the growth of the Healthcare Biometrics Market industry. The growth of the digitization trend is another important aspect contributing to the market's success. Furthermore, the rise in medical identity theft or healthcare frauds and enhanced quality care provided by healthcare institutions are the major drivers that will enhance the growth of the market during the forecast period.
Key Highlights from Report:
Market Dynamics:
Biometrics enables patients and healthcare professionals to secure and maintain the confidentiality of their information by limiting its distribution to those with the appropriate access. Healthcare institutions are investing in biometric technologies to boost security, privacy, and patient safety to compensate for the enormous sums of money lost to healthcare fraud. Government measures to boost the adoption of biometrics in healthcare facilities and rising healthcare fraud and medical identity theft are the main factors driving the growth of this market. On the other hand, the main factors restricting the market's growth are the high cost of biometric devices and the associated problems.
The highest portion of the global market for Healthcare Biometrics Market is anticipated to come from North America. This can be linked to the thorough deployment and enforcement of healthcare fraud regulating systems in the United States. The North American Healthcare Biometrics Market is anticipated to grow over the next years because of technological advancements and the availability of modern healthcare infrastructure. The market for Healthcare Biometrics Market in North America is driven by the growing acceptance of biometrics by the major medical disciplines and its efficiency in hospitals, clinical laboratories, research labs, and other healthcare institutions. Biometric security solutions will be quickly adopted because of decreased healthcare fraud, protected patient privacy, and medical information, reductions in bogus insurance claims, and faster identification and payment processing.
The Global Healthcare Biometrics Market is Segmented as follows:
List of the Key Players of the Global Healthcare Biometrics Market is:
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The Global Healthcare Biometrics Market Scope can be Tabulated as below:
Parameter
Details
Market Size Provided for Years
2016-2028
Base Year
2021
Historic Years
2016-2020
Forecast Years
2022-2028
Segments Covered
Region & Counties Covered
Companies Covered
Report Coverage
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
impact analysis
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Healthcare Biometrics Market to Reach Valuation of USD 7,606.0 Million By 2028 – Growing Demand for Health Care Fraud Prevention Along with The Need to Improve Patient Privacy Drives the Market
13 Sep 2022
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Historical Data | Base Year
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Healthcare Biometrics Market to Reach Valuation of USD 7,606.0 Million By 2028 – Growing Demand for Health Care Fraud Prevention Along with The Need to Improve Patient Privacy Drives the Market
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