Skip to main content

Blockchain Technology in Healthcare Market Top Companies Production Status, New Enhancements and Business

Blockchain technology has gained a strong foothold in the healthcare sector, leading up to a decentralized future with real-world use cases. It is a distributed ledger technology that promises greater transparency, improved traceability, increased efficiency, and enhanced security at reduced costs. The technology is causing old systems to evolve, increasing efficiency while cutting down on costs across the healthcare industry.
Few of the practical uses of blockchain technology, such as smart contracts, supply chain processes, physician credentialing, peer-to-peer data exchange, and proof of work that permit the distribution of digital information without copying the information are about to change the business paradigm in healthcare soon.
Blockchain initiatives have been proliferating, and emerging countries have already started building their blockchain ecosystems. The blockchain technology is being adopted increasingly across the healthcare industry. Owing to the credible growth opportunities demonstrated by the technology the blockchain technology in healthcare market is growing rapidly.
Acknowledging the exponential accruals, the market is garnering pervasively, Market Research Future (MRFR) in its recently published study report asserts that the global blockchain technology in healthcare market will be valued over 42 MN registering a gigantic CAGR of 71.8% during the forecast period (2018 – 2023). Insurance companies are increasingly preferring blockchain technology to maintain the real-time record of insurance holders.
Blockchain can also reinforce existing solutions that are built on technologies including Artificial Intelligence (AI) and the Internet of Things (IoT). Technology providers are now looking at a blend of AI, IoT, and Blockchain that cannot only streamline and enhance their client’s business process but also will help them to explore new business models and create innovative products for the next generation of consumers.
Additional factors boosting the growth of the blockchain technology in healthcare market include the increasing cases of data breach and concerns related to data security in healthcare, rising demand for easy to use and inexpensive data management tools, and the rising adoption of blockchain technology.
On the other hand, factors such as the lack of universal standards and awareness towards blockchain technology are expected to impede the growth of the blockchain technology in healthcare market. Nevertheless, the increasing investments and the adoption of blockchain technology in healthcare sector will be providing favorable conditions for the growth of the market during the assessment period.

Global Blockchain Technology in Healthcare Market – Segments
The MRFR analysis is segmented into four key dynamics for enhanced understanding.

By Application        : Patient Data Management, Drug Traceability, Clinical Trials & Data Security, Claims Adjudication, and Billing, among others.
By Type                     : Permissioned Blockchains and Permission Less Blockchains.
By End-user             : Pharmaceutical Companies, Healthcare Service Providers, and Healthcare Consumers among others.
By Regions               : Asia Pacific, North America, Europe, and Rest-of-the-World.

Global Blockchain Technology in Healthcare Market – Geographical Analysis
The North American region is estimated to continue dominating the global blockchain technology in healthcare market, slicing the largest market share. Factors such as the extensive uptake of advanced technologies, the presence of well-established healthcare management systems, and the availability of a large patient pool and insurance holders drive the growth of the regional market.
The blockchain technology in healthcare market in the European region is expected to account for the second-largest market, following the North American market closely. Factors escalating the growth of the regional market include technological advancement and the augmented adoption of blockchain technology.
Furthermore, the increasing number of clinical trials with increasing R&D expenditure in the pharmaceutical industry, raising awareness about blockchain technology, and the rising healthcare expenditure are some of the significant driving forces propelling the market growth.
The Asia Pacific region, heading with the high uptake of the blockchain technology, is rapidly emerging as a profitable market for the blockchain technology in healthcare. The ongoing trend of digitalization of patient records among healthcare organizations is one of the key driving forces behind the growth of the market in this region.
Furthermore, factors such as the increasing generic pharmaceutical industry in the region, continuously increasing investment in healthcare, and the adoption of technology in healthcare are fostering the growth in the regional market.
Global Blockchain Technology in Healthcare Market – Competitive Analysis
The blockchain technology in healthcare market appears to be highly competitive characterized by the presence of several well-established as well as small players. Matured players incorporate strategic initiatives such as acquisition, collaboration, partnership, expansion, and technology launch in order to gain a competitive advantage and thus to maintain their positions in this market.
Key Players
Key players leading the global blockchain technology in healthcare market include Microsoft, IBM, Guardtime, Gem, Pokitdok, Patientory, Chronicled, Hashed Health, Isolve, Factom, Medicalchain, Blockpharma, Simplyvital Health, and Farmatrust among others.
Innovation/Industry/Related News:
January 23, 2019 ––   Kadena (the US), a blockchain technology company announced that its secure and scalable private blockchain platform is now available on AWS Marketplace. By leveraging Amazon Web Services (AWS), customers can now rapidly evaluate, build, and deploy blockchain-enabled solutions with Kadena’s next generation blockchain technology, free of charge. The firm has also confirmed that it has raised USD 12 MN in venture funding.
January 07, 2019 ––    Embleema (the US), the leader in blockchain for health, announced entering into a partnership with Pharmagest Interactive (the US), a leading pharmacy software group in the North America & Europe, to allow patients to directly download their health data from pharmacies and health centers, placing patients at the center of care.
The strategic partnership will accelerate the joint development of blockchain-based applications for patients and pharmacies, and further Embleema’s commercial deployment across Pharmagest’s extensive network in Europe. Further, the partnership will also enable Pharmagest to scale the adoption of its services among patients that are already digitizing their prescription data through its current pharmacy client network.
Contact:
Market Research Future
+1 646 845 9312
Labels:

Comments

Post a Comment

Popular posts from this blog

Global Cowden Syndrome Market Technologies, Clinical Review and Industry Outlook To 2023

  Global Cowden Syndrome Market  Research Report: By Site (Breast, Thyroid, Colorectal, Kidney, Skin), Treatment (Genetic Testing, Chemotherapy, Targeted Therapy, Surgery & Radiation Therapy, Hormone Therapy), End User (Hospital & Clinics) - Forecast till 2023 Market Highlights Cowden syndrome is part of the PTEN hamartoma tumor syndrome. Cowden syndrome is characterized by a high risk of both benign and cancerous tumors of the breast, thyroid, endometrium, colorectal, kidney, and skin. The global Cowden syndrome market is expecting a healthy growth in the coming future. The global market is majorly driven by increasing Cowden syndrome patients across the globe. Additionally, increasing smoking population and rising consumption of alcohol have spurred the growth of the market. However, long time for approval and side effects of the treatment may hinder the growth of the market. Intended Audience Pharmaceutical Companies Government and private research companies Researc...
Post a Comment
Read more

H. Pylori (Helicobacter Pylori) Test Market Top Company Profiles, Latest Technology, Global Size and Industry Trends

  H. Pylori (Helicobacter Pylori) Test Market Size, Revenue, Global Opportunity and Value Chain 2019 to 2023 H. Pylori (Helicobacter Pylori) Test Market Research Pune, India, October 2019/MRFR Press Release/- Market Research Future has published its Half-Cooked Research Report on the Global H. Pylori (Helicobacter Pylori) Test Market. The  H. Pylori (Helicobacter Pylori) Test Market size  analysis of the major companies in the report, sector of the report includes the market depictions, requirements, and product portrayals, manufacture, competence, contact figures, cost, and revenue. Global H. Pylori (Helicobacter Pylori) Test Market, by Region North America US Canada Europe Spain Germany Italy France UK Rest of Europe Asia-Pacific Australia China Japan South Korea India Rest of Asia-Pacific Middle East & Africa UAE Saudi Arabia Egypt Rest of Middle East and Africa The report also appraises the supervisory scenarios which affect various decisions in the market. With a...
Post a Comment
Read more

Insulating Paints And Coatings Market 2021 Share Acquire Huge Growth, Global Opportunities and Trends to 2026

  Exactitude Consultancy 2021 Press Release: Global Insulating Paints and Coatings Market Hygiene which is one of the important factors for the well-being of person has never been highlighted as it is spread in the era after the onset of Covid-19. Hand hygiene and hygiene of frequently touched surfaces has become of paramount importance. Household and commercial spaces have increasingly invested in the products which enhances the hygiene quality of the ecosystem. Apart from increasing the surface’s durability, appearance, corrosion resistance, etc., these coatings also protect from harmful disease-causing microbes. There is increasing need to protect surfaces, equipment, walls, textiles, food and other susceptible things from microbes which eventually finds the way to the humans. It is impossible to disinfect every time the object and use strong chemicals frequently. This requirement can be completed by Paints and Coatings market. The industrial paint segment, on the other hand, in...
Post a Comment
Read more