(EMAILWIRE.COM, February 13, 2019 ) The healthcare biometrics market is projected to reach USD 2,848.3 million by 2021 from USD 1,182.6 million by 2016, at a CAGR of 19.2% during the forecast period. The growth of this market is majorly driven by government initiatives to support the implementation of biometrics in healthcare facilities and increasing healthcare fraud & medical identity theft. On the other hand, the high cost of biometric devices and issues related to the use of biometric technologies are the major factors limiting the growth of the market.

Industry Key Palyers:

The healthcare biometrics market is highly competitive. Prominent players in the market include NEC Corporation (Japan), Fujitsu Limited (Japan), 3M Cogent, Inc. (US), Morpho (a subsidiary of Safran SA (France)), Imprivata, Inc. (US), Suprema Inc. (South Korea), BIO-key International, Inc. (US), Crossmatch Technologies, Inc. (US), Lumidigm (a subsidiary of ASSA ABLOY Sweden)), and ZKteco, Inc. (China).

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=608

Major Market Developments :

In April 2016, Suprema, Inc. launched BioStation L2, a comprehensive access control and time-attendance solution with fingerprint terminal. The BioStation L2 is a mid-range device that can be used to support enterprise-level requirements at an affordable cost
In February 2016, ZKTeco collaborated with Herta Security (Spain) to integrate its ZKBioAccess with Herta’s advanced face detection technology. This combination offers advantages of both the solutions in order to yield excellent system performance.

The single-factor authentication market is further categorized by technology into face recognition, iris recognition, palm geometry recognition, fingerprint recognition, vein recognition, behavioral recognition, and other authentication technologies. Vein recognition is expected to grow at the highest CAGR during the forecast period due to its accuracy, fast recognition, and contactless.

Based on end user, the market is segmented into healthcare institutions, research & clinical laboratories, and hospitals & clinics. The healthcare institutions segment is expected to dominate the market and grow at the highest CAGR during the forecast period. The high growth of this segment is attributed to the increasing adoption of biometric solutions to secure data equipment enclosures, pedestrian entrances, devices, and platforms connected to the Internet of Things (IoT) and manage workflows.

Know More: https://www.marketsandmarkets.com/Market-Reports/healthcare-biometrics-technology-market-608.html