Biometrics As a Service in the Healthcare Market Size

Biometrics As a Service in the Healthcare Market Size

Biometrics As a Service in the Healthcare Market was valued at USD 605.8 million in 2023 and is expected to exhibit growth at a CAGR of 18.8% from 2024 – 2032 period. High market growth can be attributed to the ongoing advancements in biometric solutions, rising demand for data security and privacy, growing adoption of telemedicine and remote care, increasing incidence of identity theft and fraud, and rising healthcare digitalization, among other contributing factors.

To get key market trends

  Download Free Sample

Moreover, the healthcare fraud, including identity theft and false insurance claims, is a growing concern. For instance, according to the U.S. government’s OCR (Office for Civil Rights), healthcare firms reported 145 breaches of information in the first quarter of 2023. In addition, approximately 95% of all identity theft occurrences are attributed to compromised healthcare records. Hence, the biometrics provides a reliable way to verify patient identities, reducing the risk of fraud. By linking biometric data to patient records, healthcare providers can ensure accurate identification, which is crucial for preventing fraud and ensuring patient safety.

Furthermore, the ongoing digital transformation in healthcare is pushing the adoption of advanced technologies, including biometrics, to enhance patient care and operational efficiency. As healthcare providers increasingly rely on digital systems, the need for secure and efficient access controls drives the demand for biometrics as a service.

Biometrics as a service in the healthcare refers to cloud-based platforms that provide biometric authentication and identification services, such as fingerprint, facial recognition, or iris scanning. These services enhance security, streamline patient identification, and support remote monitoring.