Skip to main content

Blockchain Technology in Healthcare Market to 2023 Growing Demand, Supply and Gross Margin by Key Players

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

hyperpigmentation disorders treatment Overview

hyperpigmentation disorders treatment Analysis Hyperpigmentation disorder are harmless skin condition caused by darkened skin patches. Rising demand for outpatient dermabrasion procedures, increasing adoption of lasers and growing cosmetics expenditure are expected to drive the growth of the market. Additionally, rising R&D spending followed aggressive strategies by the key market players is generating awareness for the disease boosting the market to grow. The global hyperpigmentation disorders treatment Market was anticipated to held a market value of USD 3,915 million in the year 2017 and is expected to grow at a CAGR of 7.1% during the forecast period. Browse Complete Premium Research Report Enabled with Respective Tables and Figures at  https://www.marketresearchfuture.com/reports/hyperpigmentation-disorders-treatment-market-7462 Segmentation of The global h yperpigmentation disorders treatment market Segments  has been segmented based on treatment type, dise...
Post a Comment
Read more

Immunoassay Analyzers Market By Methods, Technologies, Clinical Review and Industry Outlook

  Immunoassay Analyzers Market  Research Report By Instruments (Immunofluorescence, Chemiluminescence, ELISA, Radioimmunoassay), Application (Infectious Diseases, Autoimmune Diseases, AIDS), End Users (Hospitals)- Global Forecast till 2023 Market Scenario Immunoassay analyzer is a device which measures the presence and concentration of proteins in analyte samples. These instruments are mostly used by pharmaceutical & biotechnological companies, laboratories, and research institutes. The global immunoassay analyzer market is driven by an increasing number of pharmaceutical and biotechnological companies, rising prevalence of different life-threatening diseases, and government’s initiatives for research & development activities. Furthermore, rapid development in diagnostic medical devices, increasing need for better drug treatment, and the increasing geriatric population had also fueled the market’s growth. On the other hand, high cost of instruments and poor reimburseme...
Post a Comment
Read more

Laser Therapy Market Top Company Profiles, Latest Technology, Global Size, Industry Trends

  Laser Therapy Market  Research Report, By Type (Diode Lasers, Solid State Lasers, Gas Lasers, Dye Lasers, and others), By Application (Dermatology and Aesthetics, Surgery, Dental, Urology, Ophthalmology, and others) - Global Forecast from 2017 to 2023 Market Overview: Market Research Future (MRFR) anticipates strong CAGR of 9.2% in the global laser therapy market over the forecast period of 2017-2023. The expansion of the global laser therapy is the result of various market dynamics, out of which, the surging prevalence of diseases such as cataract and arthritis bears profound weightage. Laser therapy is the standard line of treatment in cases of cataract. Laser-based ophthalmology is highly preferred over other methods of treatment. YAG LASER, excimer LASER, femtosecond LASER, and others are the most commonly used lasers in ophthalmology. The widespread prevalence of cataract, as well as arthritis, promote the growth of the global laser therapy market. Expanding base of old...
Post a Comment
Read more