Digital Identity in Healthcare Market

Unprecedented crisis witnessing cyberattacks on healthcare systems is driving the market growth

In the healthcare industry, digital identity is more crucial than ever, particularly in light of the COVID-19 epidemic. Cyberattacks on healthcare networks around the world occurred during the unprecedented crisis, leaving patients' highly sensitive medical information open to misuse or theft. A standard definition of a digital identity is a one-to-one connection between a person and their online presence. Digital identification is essential for safeguarding sensitive medical data, increasing efficiency, and assuring appropriate access in the healthcare industry. It is an important tool for modernizing healthcare because of these factors.

Digital identification is important in healthcare for a number of reasons. One of its main advantages is that it gives patients more control over their health data. It enables patients to control how healthcare professionals can access their medical records. Patients can decide, for instance, to only share information with their primary care doctor and no other medical professionals. Another key factor emphasizing the significance of digital identity in healthcare is that it would improve patient care by making it easier for providers to access patients' records.

It may be difficult for clinicians to understand a patient's medical history, for example, if the patient has seen multiple specialists or had care at separate locations. In addition, the use of digital identity would increase safety and decrease errors in the healthcare industry. Additionally, it would aid in preventing healthcare fraud.

It is intended to meet the highest standard of assurance set by the federal government for remote consumer-facing identity proofing. Thus, driving the Digital Identity in Healthcare market revenue.

The rise of telehealth services significantly influences the Global Digital Identity in Healthcare Market Industry. As more patients seek remote healthcare solutions, the need for secure digital identities becomes critical. Telehealth platforms require reliable identity verification to ensure that healthcare providers are legitimate and that patient information remains confidential. This trend is expected to contribute to the market's expansion, with projections indicating a growth from 3.82 USD Billion in 2024 to 19.4 USD Billion by 2035. The increasing adoption of telehealth solutions necessitates the development of advanced digital identity frameworks to support secure and efficient healthcare delivery.

Regulatory compliance plays a crucial role in shaping the Global Digital Identity in Healthcare Market Industry. Governments worldwide are implementing stringent regulations to ensure the protection of patient data and privacy. Compliance with standards such as HIPAA in the United States and GDPR in Europe necessitates the adoption of secure digital identity solutions. As healthcare organizations strive to meet these regulations, they increasingly invest in technologies that facilitate compliance. This trend is expected to drive market growth, as organizations recognize that failure to comply can result in significant financial penalties and reputational damage.

The Global Digital Identity in Healthcare Market Industry is witnessing a growing focus on patient-centric care. Healthcare providers are increasingly recognizing the importance of personalized services and patient engagement. Digital identity solutions facilitate this shift by enabling secure access to patient records and tailored healthcare experiences. As patients demand more control over their health information, organizations are investing in digital identity frameworks that empower patients while ensuring data security. This trend is likely to drive market growth, as patient-centric approaches become integral to healthcare delivery, fostering trust and improving health outcomes.

Technological advancements are reshaping the Global Digital Identity in Healthcare Market Industry. Innovations such as artificial intelligence, machine learning, and biometric authentication are enhancing identity verification processes. These technologies enable healthcare organizations to streamline patient onboarding and improve security measures. The integration of AI-driven analytics allows for real-time monitoring of identity verification, reducing the risk of fraud. As healthcare providers increasingly adopt these technologies, the market is poised for significant growth, with a projected CAGR of 15.93% from 2025 to 2035. This trend highlights the importance of leveraging technology to enhance patient safety and operational efficiency.

The Global Digital Identity in Healthcare Market Industry experiences a growing demand for secure patient data management solutions. As healthcare providers increasingly digitize records, the need for robust identity verification systems becomes paramount. This trend is driven by the necessity to protect sensitive patient information from cyber threats. In 2024, the market is projected to reach 3.82 USD Billion, reflecting the urgency for secure digital identity solutions. Healthcare organizations are adopting advanced technologies such as biometrics and blockchain to enhance data security and patient trust. This shift not only safeguards patient information but also streamlines access to healthcare services.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Digital Identity in Healthcare Market dominated this market in 2022 (45.80%). North America's market for digital identity solutions is led by the United States, which is supported by the presence of major market participants. Digital verification is now required for all types of digital transactions under the Digital Signature and Electronic Authentication Law (SEAL), which was established by the U.S. Senate.

A fintech company called Finastra recently created an eSignature solution for American banks to cut down on paper use, storage costs, and courier expenses. Further, the U.S. Digital Identity in Healthcare market held the largest market share, and the Canada Digital Identity in Healthcare market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: DIGITAL IDENTITY IN HEALTHCARE MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe Digital Identity in Healthcare market accounted for the healthy market share in 2022. With the frightening coronavirus outbreak, digital identity solutions have emerged as a crucial element of patient security and surveillance. A Know Your Patient approach is being adopted by healthcare institutions, and numerous internet pharmacies are using age verification techniques. Further, the German Digital Identity in Healthcare market held the largest market share, and the U.K Digital Identity in Healthcare market was the fastest growing market in the European region.

The Asia Pacific Digital Identity in Healthcare market is expected to register significant growth from 2023 to 2032. The authorities have been forced to adopt a secure platform because of an increase in data breaches. This platform uses new identity management techniques and artificial intelligence and machine learning to close access gaps that affect clinical and operational workflows while posing no threat to the security and privacy of patient data. Moreover, China’s Digital Identity in Healthcare market held the largest market share, and the Indian Digital Identity in Healthcare market was the fastest growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Digital Identity in Healthcare market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Digital Identity in Healthcare Industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Digital Identity in Healthcare Industry to benefit clients and increase the market Solution Type. In recent years, the Digital Identity in Healthcare Industry has offered some of the most significant advantages to medicine.

Major players in the Digital Identity in Healthcare market, including NEC, Samsung SDS, Thales, Telus, IDEMIA, GBG, Tessi, Daon, ForgeRock, ImageWare, Jumio, iProov, ID R&D, Refinitiv, OneSpan, Smartmatic, Freja EID Group, Vintegris, AU10TIX, Signicat, Duo Security, Syntizen, and Hashcash Consultant Good Digital Identity, are attempting to increase market demand by investing in research and development operations.

Tessi is a supplier of business process services (BPS) meant to help organizations manage their most important procedures. In order to assist big corporate and governmental institutions in monitoring documents, information flows, and payment methods, the company provides comprehensive services including inbound information and document automation, hardware and software services, business process digitization, and outbound information.

Software for identity assurance and biometrics is offered by Daon. The business sells software that builds identity assurance systems using biometric information like vein patterns, retina scans, and finger prints. IdentityX, DaonEngine, DaonEnroll, DaonAnalytics, and Credential Connect are some of its product names.