Asia Pacific Healthcare Biometrics Market: By Mode, By Technology By End-User and By Country, South Korea, Rest of Asia Pacific)
Asia Pacific Healthcare Biometrics Market size was valued at US$ x million in 2022 and is poised to grow at a CGAR of 25.2% from 2023-2029. Biometrics is a vital tool in data threats and cyber threats. Biometric system is used across various industries like banking, defence, healthcare, mobile and technology, government, security. Biometric system plays an essential role in healthcare industry which enables the proper security of IT processes related to healthcare data by preventing free access to data by identifying individual features like palm prints, fingerprints, voice, DNA, face, and others. As per, Identity Theft Resource Centre Report 2014, about 45% of all data violations of identity thefts are from the healthcare industry. Growing incidence of healthcare frauds, the rise in demand for the alternatives for the passwords, wide range of financial benefits regarding healthcare biometrics are expected to fuel growth of Asia Pacific Healthcare Biometrics Market. On the other side, security and convenience trade off and biometric template storage are major restraints of Asia Pacific Healthcare Biometrics . In October 2017, Fujitsu is a Japanese tech firm has launched world smallest palm vein sensor. Increase in support of government, rise in disposable income of the emerging economies, growing acceptance of technological advancements, rising awareness regarding the security systems, development of industrial sectors in emerging countries are expected to enhance the revenue share for healthcare biometrics in Asia Pacific Region. Government initiatives such as in 2014, National health assurance mission was launched in India. On the other side, security and convenience trade off and biometric template storage are major challenges for growth of the Asia Pacific Healthcare Biometrics Market.
The Growing incidence of healthcare frauds, rise in demand for alternatives for passwords, wide range of financial benefits regarding healthcare biometrics are major factors expected to fuel growth of Asia Pacific Healthcare Biometrics Market. As per, Coalition Against Insurance Fraud reported that about USD 80 Bn is annually lost in the US in Medicare fraud. Moreover, growing adaptability of biometrics system in healthcare sectors such as research labs, clinical laboratories, and hospitals increase in technological advancements are few other factors which are expected to propel growth of Asia Pacific Healthcare Biometrics Market. On the other side, security and convenience trade-off and biometric template storage are restraints of Asia Pacific Healthcare Biometrics Market.
Geographically Asia Pacific Healthcare Biometrics Market is segmented as Japan, China, India, and Australia & New Zealand, ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others. This market is dominated by emerging countries such as India, China and Japan. Growing incidence of healthcare frauds, rise in demand for alternatives for passwords, wide range of financial benefits regarding healthcare biometrics are expected to create demand for the Market.
Latin America
Europe
Asia Pacific
Middle East
North America
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The asia pacific healthcare biometrics market growing at a CAGR of 25.2%
The report covers the countries market data: China, India, Japan, Australia & New Zealand
The asia pacific healthcare biometrics market key players are: Fujitsu Limited, NEC Corporation, 3M Cogent, Inc. Imprivata, Inc. Morpho
Key Market Players
Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthcare domain, encompassing pharmaceuticals, medical devices, and diagnostics. A graduate in Pharmacy, he possesses a strong foundation in the intricacies of the healthcare sector. He further enhanced his expertise by pursuing an MBA in Pharmaceuticals, equipping him with valuable business acumen. His analytical skills and market insights have contributed to strategic decision-making and enhanced market positioning for various healthcare organizations. Committed to driving innovation and excellence, Muni continues to seek opportunities to improve healthcare delivery through data-driven insights.
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