NEW YORK, Sept. 8, 2023 /PRNewswire/ — The gait biometrics market by end-user (healthcare, sports, security, and research), type (assessment, treatment, and Monitoring), and geography (North America, Europe, APAC, South America, and Middle East and Africa) – Forecast and Analysis 2023-2027″ report has been added to Technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the gait biometrics market between 2022 and 2027 is USD 50.91 million, according to Technavio. The growing potential of gait biometrics for elderly care is a key factor driving market growth. To monitor and treat elderly patients, the healthcare industry is adopting biometric gait systems. With the growth of the geriatric population and the incidence of age-related diseases and conditions, there is a need to develop new systems of health care delivery. The gait biometric is particularly important as it helps to automate several healthcare pathways through intelligent biometric information tracking and early diagnosis of diseases. In addition, other biometrics, such as face, fingerprint, and iris, require functionality up close, while gait can be seen from a distance. Hence, these factors are expected to drive market growth during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Market Dynamics

Significant Challenge

The increasing total cost of ownership is a significant challenge restricting market growth. It covers the cost of implementing and maintaining a wide range of operations. It is estimated that it costs a very large amount of CAPEX or capital expenditure to install and configure these instruments and software, together with the needed database management and identification document issuance expenses. In addition, the absence of a global standard on gait biometrics leads to additional hidden costs. This can increase costs for buyers as they may need to modify existing infrastructure to incorporate newer technologies. Additionally, they may not have the funds to test these solutions before installation, which can lead to errors. The company will suffer great losses due to large investment costs. Hence, these factors are expected to restrict market growth during the forecast period.

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The gait biometrics market is segmented by end-user (healthcare, sports, security, and research), Type (Assessment, Treatment, and Monitoring), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). 

• The market share growth by the healthcare segment will be significant during the forecast period. It’s still in its nascent and has a huge growth potential because biometric gait systems are also being adopted by developing countries. Due to the increased requirement to cut down on costs, hospitals, clinics, and other healthcare providers are increasingly adopting gait biometrics to help automate patient health tracking in real-time. Repetitive tasks, enabling the patient to self-service his care needs, could be automated by gait biometrics. In addition, it is also used at pathology laboratories to identify disease symptoms and rehabilitation for cerebral palsy and stroke patients. Additionally, by practicing movements after an injury, assistive robots like the Manus robotic manipulator help patients recover and improve their mobility. Hence, these factors are expected to drive segment growth during the forecast period.

• North America is estimated to contribute 32% to the growth of the global market during the forecast period. 

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Key Companies in the gait biometrics market:

BioSensics, Bodytech Australia Pty. Ltd., CIR Systems Inc., Innovative Sports Training Inc., Mar Systems Ltd., Medical Motion LLC, MindMaze SA, Motek Medical BV, Motion Analysis Inc., Noraxon USA Inc., Qualisys AB, and Tekscan Inc.

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Type

Market Segmentation by End-User

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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SOURCE Technavio