Drug Supply Chain Management to Push Blockchain in Healthcare Market
Need to safeguard patient healthcare data and surging
cyberattacks to drive global blockchain in healthcare market through 2024
According to TechSci
Research report, “Global Blockchain in Healthcare Market By Type, By Application, By End User, By Region,
Competition, Forecast & Opportunities, 2024”, global blockchain in healthcare market is expected to register
growth during the forecast period, on account of increasing cases of data
breaches in the healthcare industry. The implementation of blockchain in
healthcare industry will provide transparency on complex transactions existing
between different stakeholders of clinical supply chain. Additionally,
blockchain helps to manage healthcare related data without alteration, driving
the blockchain in healthcare market through 2024. Need for improving security and
interoperability of healthcare information system is boosting the adoption of
blockchain in healthcare industry.Blockchain
in healthcare market, globally, can be segmented based on type, application, end-user
and region. Based on end user, the market can be segmented into healthcare
providers, pharmaceutical companies and others. Major healthcare markets such
as the US and Europe have mandated the implementation of full trace and
tracking of pharma products, owing to which they account for the leading share in
the market. Blockchain in healthcare market is at a nascent stage and finds
applications in drug supply chain management, clinical data exchange &
interoperability, claims adjudication & billing management, prescription
drug abuse and others. Increasing number of counterfeit drugs in circulation
and implementation of strict regulations, such as Drug Quality and Security Act
(DQSA) and Falsified Medicines Directive (FMD) in the US and Europe are
contributing to the leading share of drug supply chain management segment.
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IBM Corporation, Microsoft Corp., Chronicled,
Inc., Factom Inc., Healthereum, LLC, Guardtime, Pokitdok, Proof.Work, Simplyvital
Health and Farmatrust are some of the leading market players. Companies
operating in the market are using organic strategies such as product launches, mergers
and collaborations to boost their share. In 2018, IBM launched a low-cost
platform to encourage the adoption of blockchain in healthcare industry.
“North America is the leading region in global blockchain in healthcare
market, backed by technological advancements and regulations in place for the
safety of patient data and improving the quality of care. Moreover, high need
for reducing increasing healthcare costs and preventing tampering of medical
data is likely to boost demand for blockchain in healthcare in the region over
the course of next five years.”, said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Global Blockchain
in Healthcare Market By Type, By Application, By End User, By Region,
Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global blockchain
in healthcare market and provides statistics & information on market size,
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 global blockchain in
healthcare market.
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