Market Snapshot:
The transformation of healthcare delivery has led to the evolution of the concept of patient-centricity or participatory approach to healthcare delivery. Every healthcare industry organization, irrespective of whether it is a provider or payer, understands that there is this only way to keep itself in contention is to provide its members with a best-of-class experience in care delivery at a low cost. Rising demand for healthcare services and integrated delivery, coupled with an increased focus on member health management emphasizes the need for an information technology system. Here blockchain can be useful as it doesn’t require multiple-level authentication and at the same time, it gives complete on-demand access to chronologically arranged data. This robust technology can drive healthcare industry performance with improved quality at low cost.
Highlights from Blockchain technology in Healthcare Market Study
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The key Players profiled in the report are IBM (United States), Microsoft (United States), Pokitdok Inc. (United States), Guardtime (Netherlands), Hashed Health (United States), Chronicled Inc. (United States), Patientory Inc. (United States), PokitDok (United States) and SimplyVital Health (United States).
Geographic Breakdown and Segment Analysis
The Global Blockchain technology in Healthcare market presents a comprehensive analysis of the Blockchain technology in Healthcare market by product type (Private Blockchain, Public Blockchain and Consortium Blockchain), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Blockchain technology in Healthcare industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Blockchain technology in Healthcare market
Analyst at AMA have segmented the market study of Global Blockchain technology in Healthcare market by Type, Application and Region.
Influencing Trend:
Technology Advancement and Innovation in Blockchain Technology in Healthcare
Market Growth Drivers:
Rise in Counterfeit Drugs in the Market, Low Cost of Maintenance and Growing Requirement to Store and Secure Medical Data
Challenges:
Lack of Awareness about Blockchain Technology in Healthcare and Its Understanding and Balancing Data-Sharing Capability with Privacy Concerns
Restraints:
Lack of a Central Entity and Common Set of Standards
Opportunities:
Personalized Healthcare, Pharmaceutical Research and Precision Medicines and Government Initiatives in Various Countries for Blockchain Technology
Market Developments Activities:
In April 2018, SimplyVital Health, Inc. announced a partnership with Shivom Ventures Limited to form Global Healthcare Blockchain Alliance. The strategic partnership aimed at supporting the organization to develop technologically advanced products in the blockchain industry, thereby strengthening its foothold in the market.
In 2018, Microsoft and Viant along with GSK formed a consortium named Viant Blockchain Programme aimed to speed the adoption of a supply chain powered by blockchain across a variety of industries, including the healthcare sector.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new product launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations, Market Research and Consulting Firms and Others