Global Biometric as a Service in Healthcare Market is Growing at a Significant Rate in the Forecast Period 2019-2026

Drivers: Global Biometric as a Service in Healthcare Market

INCREASING USAGE OF ELECTRONIC GADGETS

Biometric refers to an automatic recognition of people depending on their different anatomical characteristics such as face, fingerprint, iris, retina, hand geometry, and behavioral (e.g., signature, gait). It is observed that fingerprint recognition is one of the most preferred biometrics. The adoption of biometric devices with more advanced and highly efficient features is witnessing a significant growth as compared to the conventional devices. These devices are connected to the computer in order to store the data in the cloud which further ensures data safety.

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According to the U.S. Centers for Medicare & Medicaid Services, Total healthcare spending in the U.S. has grown up to 4.3% in 2016. There is an explosion of biorhythm monitoring technologies due to which it has been raised to USD 100 million by 2015.

Mobile health is also known as health that is commonly used for the practice of medicine and public health supported by mobile devices. In health, mobile phones, tablets, computers, and personal digital assistants (PDAs) among others are some of the widely used devices for healthcare services and information. In addition, it has been witnessed that more than 80% of the US population have an access to the internet on smartphones which considerably drives the biometrics market growth.

The increased dependency on the electronic gadgets helps the citizens to access their information through phone at anytime and anywhere.

In America in 2014 and 2015, a large number of data hacks was reported in the healthcare and accounted for about 43% of leaked data.

The citizens are witnessed accessing their data via mobile phones and other gadgets owing to increased inefficiency and fraudulent activities. This increases the reliability over the biometric systems and supplements the overall market growth.

UPSURGE IN DEMAND OF COST EFFECTIVE BIOMETRIC DEVICES

Biometric identification systems and fingerprint recognition systems have been gaining popularity in recent years because of the government support and private outfits for curbing data theft issues. Government accepted this system so as to avoid the breaching of data and avoid hacking. The latest biometric devices are integrated with computers and second generation biometric devices have more advancement over first generation devices. As second generation devices are equipped with FRR and/or FAR due to which it scans the fingerprints very accurately. As these devices are highly equipped but the price of these devices is not that much higher.

HIGH SECURITY ISSUES

Biometric systems have wide applications in the health care centres for monitoring patients. That includes the control, identification, workforce management, or patient record management. Biometrics in the healthcare industry has two main forms that are providing access control to resources and patient identification solutions. Identity verification solutions based on biometric technology offers identity assurance and authentication by lowering the healthcare fraud instances and increasing the privacy and security. It also added the operational efficiencies to the healthcare industry.

In 2014 and 2015, the healthcare industry suffered the highest number of hackings as compared to other industries.  As per of Identity Theft Resource Centre around 43% of data was breached in the healthcare in the U.S. only. Therefore, high security offered by the biometrics and evades the breaching of the confidential data; these biometric devices are highly used and spur the market growth.

RESTRAINT

SECURITY THREAT OF BIOMETRIC DATA STORED ON CLOUD

During the use of the biometric device, the data get stored on the cloud. In the cloud system, the data is fragmented and distributed on all machines linked to the cloud. In this way the recovery and the use of the data become very complex for the unauthorized users. On the platform, the data get distributed because of lack of trust by the service provider. To allow the proper fragmentation and distribution of the data in the network, it is mandated to develop and support the tools that ensure the availability and integrity of these data.

In case the cloud gets corrupt, the whole data can be hacked or lost. This is one of the main factors that are hindering the market growth.

OPPORTUNITY

RAPIDLY INCREASING DEMAND IN HEALTHCARE

In the United States, insurance facility is one of the major benefits given to the patients from the government and private organizations. The health insurance data is highly complex and fragmented data which requires a huge database to store the data. In U.S. fraudulent cases in the healthcare industry was highly reported. Up coding this is the act of billing for more expensive services and or procedures that were actually performed.

 In the healthcare fraud, it is intentional deception and misrepresentation resulting in the use of the data for unauthorized benefits by any individual or any third party source.

Protecting the data from breaching and minimizing the use of the data by any third party source, biometric technology is playing a vital role in the healthcare sector. In securing the confidential data of the patient, biometric is playing a crucial role. This creates a great opportunity for biometric to grow in the healthcare industry.

CHALLENGE

INCORPORATION OF THESE DEVICES INTO EXISITING SYSTEMS

In many healthcare industries, access cards are highly preferred because it reduces the chaos after-hours shift and hence secures the sensitive information. Access control system limits the business to specific areas.  It increases the safety of the employees while entering the business premisesand allows the entry of only authorized persons.

In most of the countries to reduce the healthcare cost card-based e-health networks have been introduced. These cards improve the communication between practitioners and enhance the quality of service. These cards services are streamlined and reduce the chances of fraudulent. Card-based and smart chip technology with medical applications and data has created an interoperable system that offers health insurance providers economic efficiency and high level of security and privacy protection to the customers. Electronic health professional card allows the medical practitioner to access the patient data stored on the cloud.

The installation of the biometric systems in the healthcare industry where access control system is already installed is the major challenge in the growth of the market.

Market Trends

On the basis of modality type, the market is segmented into unimodal and multimodal.

  • On the basis of access control and authentication, the market is segmented into single-factor authentication and multi-factor authentication.
  • On the basis of deployment model, the market is segmented into public cloud, private cloud and hybrid cloud.
  • On the basis of access channel, the market is segmented into online, in-person, tablet, IoS and android.
  • On the basis of application, the market is segmented into pharmacy dispensing, care provider authentication, medical record security & data center security, patient identification and tracking, home/remote patient access, narcotic security, counter insurance frauds and others.

Major Players: Global Biometric as a Service in Healthcare Market

Some of the major players operating in this market are Gemalto NV, agnitio, BioAXS Co. Ltd., Cenmetrix (Pvt) Ltd. , FUJITSU, HID Global Corporation, Hitachi, Ltd. , Integrated Biometrics, Innovatrics, IRITECH, INC., LaserLock International, Inc., M2SYS Technology, MorphoTrust USA, Nuance Communications, Inc., Qualcomm Technologies, Inc. , SecuGen Corporation, Uniphore, lumenvox, VoiceVault Voice Authentication and other.