Global Healthcare Market to Reach $12B by 2025: CMR

The global healthcare biometrics market will reach a value of $12 billion by 2025, according to a new forecast from Crystal Market Research.

Entitled, ‘Healthcare Biometrics Market by Technology, Application, and End User – Global Industry Analysis and Forecast to 2025′, the report points to multiple factors driving this growth. A big one is the increasing concern over online fraud; but also important is healthcare providers’ growing interest in biometrics for patient identification. Technological advances, meanwhile, are helping to push things further along.

As for the specific technologies available, fingerprint recognition dominated the market last year, but going forward multi-factor authentication will see the highest CAGR, with vein recognition expected to be the modality that sees the highest rate of growth. Looking to a regional breakdown, CMR reports that while North America was the dominant market last year, the APAC region will see the highest CAGR to 2025, thanks to security concerns, rising IT adoption in healthcare, and government efforts like India’s Aadhaar biometric database.

The report also names Qualcomm, Fujitsu, Cogent, Crossmatch, BIO-key, NEC, Suprema, Integrated Biometrics, and Imprivata as the major players in the overall biometric healthcare market.

CMR’s projections far surpass those seen in a Grand View Research market report issued a little over a year ago, which predicted a market value of $11.7 million by 2024.

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November 17, 2017 – by Alex Perala

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