Increasing adoption of blockchain as a service is expected to drive the global blockchain technology in healthcare market.
According to TechSci Research report, “Blockchain Technology in Healthcare Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Type (Public, Private, Hybrid, Consortium), By Component (Platform v/s Services), By Application (Supply Chain Management, Patient Data Management, Clinical Data Exchange, and Interoperability, Claims and Billing Management, Others), By End User (Hospitals & Clinics, Pharma Companies, Healthcare Payers, Others), By Region”, global blockchain technology in healthcare market is expected to witness an impressive growth over the next few years on account of the growing threat of counterfeit drugs in the market. Additionally, growing adoption of transparency & immutability of the distributed ledger technology is further expected to fuel the market growth through 2026. Additionally, supportive government policies & schemes such as in 2019, the Falsified Medicine Directive came into force across European Union is further expected to support the market growth. According to this directive, prescription medicines came with a security feature enabling the hospitals, pharmacies, or healthcare providers to verify their authenticity which is offering great opportunities to the market. However, reluctance to disclose data by different healthcare institutions and companies is expected to hamper the market growth over the next few years. Besides, lack of central entity and common rules and regulations to adhere to is further expected to restrict the market growth over the next few years. Also, lack of awareness pertaining to blockchain technology in healthcare industry especially in the developing countries and under-developed countries is expected to restrict the market growth.
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Global blockchain technology in healthcare market is segmented into type, component, application, end user, region, and company. The end user segment can further be fragmented into hospitals & clinics, pharma companies, healthcare payers and others. The pharma companies’ segment is expected to dominate the market during the forecast period owing to the growing counterfeit drugs in the market. While the healthcare payers’ segment will register the highest growth through 2026 on account of increasing health insurance frauds. Additionally, growing need for secure health information exchange between providers and payers will further support the segmental growth.
IBM Corporation, Amazon Web Services, Inc., Microsoft Corporation, SAP SE, Intel Corporation, Oracle Corporation, ConsenSys Software Inc., Change Healthcare, Inc., Bitfury Group Limited, Hashed Health LLC, Healthereum, LLC, Factom, Inc., Simplyvital Health, FarmaTrust Ltd., Blockpharma, are the leading players operating in global blockchain technology in healthcare market. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.
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“North America is expected to dominate the global blockchain in healthcare market on account of early technology adoption and well-established healthcare IT infrastructure in the region. Additionally, the implementation of regulations in the region regarding the safety of patient data and improving quality of care is further expected to support the market growth in the region. Furthermore, growing cyberattacks and need to protect the healthcare data from tampering and misuse is further expected to support the market growth.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
We covers the given below topics in this report
1. Supply Chain Management Market
2. Patient Data Management Market
3. Clinical Data Exchange Market
4. Billing Management Market
“Blockchain Technology in Healthcare Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Type (Public, Private, Hybrid, Consortium), By Component (Platform v/s Services), By Application (Supply Chain Management, Patient Data Management, Clinical Data Exchange, and Interoperability, Claims and Billing Management, Others), By End User (Hospitals & Clinics, Pharma Companies, Healthcare Payers, Others), By Region” has evaluated the future growth potential of global blockchain technology in healthcare market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global blockchain technology in healthcare market.
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