The
blockchain in healthcare technology is growing in leaps and bounds paving the
way for the innovative applications that can transform the delivery of
healthcare services globally. The revolutionary effort achieved in data
management and exchange by the application of blockchain in healthcare is among
the foremost factors that are driving the market for blockchain technology in
healthcare.
The
use of blockchain in healthcare is also increasingly favored because of its
capability to keep sensitive patient data secure easily accessible . The use of
blockchain in the healthcare sector is motivated by its ability to ensure accountability
of all the users on the network. Since, the exploitation of blockchain
technology can link fragmented systems and create insights to evaluate the
value of care better, the market share of blockchain in healthcare is mounting.
The appositeness of blockchain in healthcare is reinforced due to the pressing
need felt by healthcare personnel to consolidate information in a single and
secure source, as vital information required for determining treatment options
is dispersed about multiple systems and occasionally, and may not be at hand
when required urgently.
The
use of blockchain in healthcare is projected to gain impetus as healthcare
service chains become more varied and spread out geographically. Patient health
management is also found to be helped by the use of this technology. Moreover,
one of the prime concerns in healthcare which is mobility is also better
addressed.
Blockchain
Technology in Healthcare Market Segmentation:
For the scope of research, MRFR’s report offers a detailed segmental
analysis of the market.
By Application
- Supply Chain Management,
- Clinical Data Exchange &
Interoperability,
- Claims Adjudication
- Billing
By End User
- Pharmaceutical companies
- Service providers
- Healthcare consumers
By Region
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
Regional Analysis
The regional analysis of the
blockchain in healthcare technology market consists of regions such as North
America, Europe, Asia Pacific and Rest of the World. The North America region
is expected to provide suitable opportunities for growth in the market due to
the prevalence of the prominent contenders in the blockchain market in this
region. Also, the adoption rates of the blockchain technology in the healthcare
sector in North America are expected to be high because of the developed
economies in the region. The European region is also anticipated to develop at
a good pace due to the advances being made in the region in terms of blockchain
technologies. The Asia Pacific region is expected to benefit tremendously from
the integration of blockchain technology in the healthcare sector, as the
number of healthcare facilities in the region will rise tremendously along with
the number of patients seeking medical care in this region.
Competitive Analysis
The competitors present in the
blockchain technology in the healthcare market are Factom, Microsoft, IBM,
Medicalchain, Gem, iSolve, Patientory, Chronicled, FarmaTrust, Guardtime,
Blockpharma, and PokitDok.
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