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Description
Latin America Healthcare Biometrics Market size was valued at USD 2,857.2 million in 2021, growing at a CAGR of 16.2% from 2022 to 2028. The Latin America market provides a detailed overview and that can be segmented by mode, by technology, and by end user. By mode, the Latin America healthcare biometrics market has been segmented into Physical Access Control, Logical Access Control, and Transaction Authentication. The Physical Access Control segment is likely to be the largest and fastest-growing segment in terms of type in 2021 and is expected to maintain the trend in the forecasted years. It is due to the high demand for physical access control system in the global market. Based on technology, the Latin America healthcare biometrics market is segmented into Iris Recognition, Signature Recognition, Face Recognition, Hand Recognition, Fingerprint Recognition, Voice Recognition, and Vein Recognition. Among these, the Fingerprint Recognition segment is expected to have the fastest-growing market during the forecast period 2022-2028 according to precision business insights. Fingerprint recognition is easy and safest option for various application. Based on end user, the Latin America healthcare biometrics market is segmented into Clinics, Healthcare Institutions, Clinical Laboratories, Hospital laboratories, Research lab. The Hospital laboratories segment accounts for the largest share in 2021 and is anticipated to register a significant CAGR in the upcoming years. It is attributed to the large patient base in the hospitals and high demand for security systems. Biometrics is a security tool in data threats and cyber threats. 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.
Key Development:
In Oct 2022, Voxx International Corporation streamlined operation and enhanced distribution resulting in significantly less expenses with more efficient management in biometric segment.
