Healthcare Identity Management Market Size

Healthcare Identity Management Market Size

Healthcare Identity Management Market was valued at USD 3.84 billion in 2023 and is anticipated to grow at a CAGR of over 9.5% between 2024 and 2032. According to the Information Commissioner’s Office (ICO) of the UK, nearly 8,903 cases of data breach in the healthcare sector were reported between 2019 and 2023 across the country.

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Additionally, according to a joint investigation by the Poneman Institute and Verizon, the healthcare sector has witnessed the most data breach globally. The Center for Internet Security (CIS) recommended that every healthcare provider implement an identity monitoring and management system to mitigate these cases.
 

Implementing a healthcare identity management system grants access only to authorized personnel, reducing the risk of patient data breaches. Additionally, the use of identity management in healthcare has the potential to decrease the need for customer support and minimize the cost of operations. Key players in the market are offering customized solutions to institutes. For instance, IBM MaaS360 solution uses zero trust principles and works on cloud/hybrid cloud to improve access management, endpoint security and network security on mobile devices, laptops, desktops, IoT, infrastructure, and network. Also, Staten Island Heart Society used IBM Security QRadar, which enabled the institute to unfold the threats on cloud assets, endpoints, and users.
 

International and national policymakers are focusing on data privacy and have framed rules & regulations to safeguard patient privacy. For instance, the Health Insurance Portability and Accountability Act (HIPAA) in the U.S. mandates that healthcare centers adhere to high standards of technical security and administrative practices. The electronic prescribing for Controlled Substances (EPCS) rule in the U.S. mandates that professional practitioners must have two-factor authentication for signing an electronic prescription.
 

User resistance and adoption issues in healthcare identity management are significant challenges for the market. Resistance emerges due to a perception that new systems are complex/disruptive. Complex identity verification procedures can be seen as hard to implement, impacting their widespread adoption.
 

Handling huge data volumes and user bases becomes difficult as the healthcare organizations grows, creating scalability issues in healthcare identity management. The identity management systems should be adaptable for the expanding user base, devices, and access points, while maintaining performance and security. As healthcare data and operational needs evolve, identity management solutions may struggle to scale efficiently, leading to performance bottlenecks, increased costs, and compromised security. Addressing scalability challenges requires efficient resource management, robust system architecture, and the ability to integrate new technologies seamlessly.