North America to dominate the Global Blockchain Technology in Healthcare Market till 2026
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.
“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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