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Healthcare Identity Management Market Trends

Report ID: GMI10435
Published Date: Jul 2024
Report Format: PDF

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Healthcare Identity Management Market Trends

The uniqueness of biometrics for authentication makes it dispensable for security purposes and for the prevention of the unauthorized access of data. It eliminates the need for users to remember passwords or PINs, enhancing the user experience. This allows organizations to track and monitor users’ actions and activities. Biometric identity service providers are witnessing business expansion as organizations and institutes increasingly adopt these systems in their workplaces. For instance, in May 2024, authID Inc., a biometric solution provider, announced its partnership with IDMWORKS, a major player in the Identity and Access Management (IAM) industry.

Further, cloud computing services are used to provide secured data storage and management solutions to tackle the emerging challenges such as scalability in the healthcare sector. The leading companies are collaborating with expert organizations in the healthcare sector for business expansion. For instance, in March 2024, Microsoft announced a collaboration with NVIDIA to strengthen its presence in the healthcare sector by offering secured data storage.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global industry size for healthcare identity management was valued at USD 3.84 billion in 2023 and is anticipated to register over 9.5% CAGR between 2024 and 2032 due to the growing incidence of healthcare data breaches and increasing need for operational efficiency.

The multi-factor authentication segment in the healthcare identity management market is anticipated to record 9.5% CAGR through 2032 due to robust security, ease of use, and regulatory mandates like HIPAA, enhancing security and user experience.

North America market is expected to record substantial CAGR through 2032, owing to the government initiatives and adoption of advanced IAM technologies in healthcare due to the need for enhanced patient data protection.

IBM Corporation, Microsoft Corporation, Oracle Corporation, Cisco Systems, Inc., Siemens Healthineers, Imprivata, Inc., and Symplr.