The global Blockchain in Healthcare market is forecast to reach USD 5.72 Billion by 2027. Several hospitals and organizations are implementing the technology to record, analyze, and monitor patient information. Moreover, there is an increase in the supply of counterfeit drugs, and this issue can be restrained by adopting the blockchain technology in the healthcare sector. Initiatives are being taken by the government across the globe to tackle the situation.
Stringent regulations such as increased incidence of medical data breach will boost the application of the technology in the sector. For instance, in May 2019, it was revealed that the billing services vendor American Medical Collection Agency was hacked for eight months between August 1, 2018, and March 30, 2019. So far, it is estimated that approximately 25 million patient’s data has been breached. Blockchain technology in the healthcare sector will lead to greater efficiency, and user empowerment, and interoperability leading to streamlined processes. It also allows data to be secured under inherent security features.
In the U.S., the FDA has outlined requirements to develop and enhance the drug supply chain security by the year 2023. This will boost the blockchain technology in the region as the companies are trying to manage product quality as well as security. The market is Canada is also growing at a faster CAGR. The increasing number of startup and rise in government spending on the technology will augment the market demand.
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The report provides a panoramic view of the market and insights that will help formulate better business decisions. In addition to that, the study helps well-established companies and players gain a deeper understanding of the market and make informed decisions. The report also discusses in detail about the key factors influencing the market growth.
Key companies operating in the market include:
IBM, Microsoft, Gem, Chronicled, Hashed Health, Factom, Guardtime, Pokitdok, Patientory, and Blockpharma, among others.
The report covers an extensive analysis of the key market players in the market along with their business overview, expansion plans, and strategies. The report also focuses on recent strategic alliances in the market including mergers and acquisitions, joint ventures, partnerships, agreements, corporate and government deals, product launches, and brand promotions, among others.
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The report aims to provide a better understanding of the market dynamics and the workings of the industry on a global level. To gain a deeper understanding of the industry, the global Blockchain in Healthcare market is further segmented on the basis of key geographical regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The report also offers a country-wise analysis to provide crucial insights into market size, market growth, market revenue growth, and economic growth in each region.
On basis of product types and application offered by the Blockchain in Healthcare industry, the market is segmented into:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Permissioned Blockchain
Applications Outlook (Revenue, USD Billion; 2017-2027)
- Supply Chain Management
- Clinical Data Exchange & Interoperability
- Claims Adjudication & Billing Management
End User Outlook (Revenue, USD Billion; 2017-2027)
- Pharmaceutical Companies
- Healthcare Providers
- Healthcare Payers
The regional analysis covers:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Benefits of Blockchain in Healthcare Market Report:
- Panoramic overview of the opportunities and risks in the Blockchain in Healthcare sector
- Study of recent innovations and developments in the industry
- Comprehensive study of the growth pattern of the Blockchain in Healthcare industry
- In-depth assessment of the competitive landscape of the key players of the Blockchain in Healthcare industry
- Analysis of the Blockchain in Healthcare market drivers, constraints, and opportunities
- Assessment of technological developments and latest trends of the industry
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