The biometrics industry is growing at a phenomenal pace and does not appear to be slowing down any time soon. With the stock markets trading at record highs, there has not been a decline of more than 3% since last November. This low amount of volatility has not been at this level since the middle of the 1990s. Richard Thaler, the recipient of the Nobel Prize in economics stated recently that “we seem to be living in the riskiest moment of our lives, and yet the stock market seems to be napping. I admit to not understanding it.”
The biometric sector of the market has seen mostly good news in the past months with several companies reporting high levels of gains. Shares of the company SmartMetric shop up to $0.06 by the end of the day Thursday, October 12th.
Several stories have come up about the benefits of using biometrics in healthcare. There are many benefits such as added security, swiftness of data and more. A recent report shows that revenues in the sector of biometrics in healthcare will reach $5 billion by the year 2020. The recent announcements show how the industry will fit biometrics into it in the coming years.
Last week, the FDA announced that they would be lowering various “regulatory barriers” for tech companies that would want to use biometrics for medical uses. The FDA announced that “companies like Apple, Alphabet and Samsung are making long-term bets on the medical sector.” This is good news for the area of biotechnology as it is increasing incrementally every day.
One large company in the space, Qualcomm Life stated that they were working on a new biometric that would help to monitor patients in various health conditions.
Hopefully, biometrics can reach their full potential in the next couple of years as the world adapts to the wide array of possibilities that it offers.