Blockchain in Healthcare Market to Grow at Staggering 70% CAGR until 2027
Need to safeguard patient
healthcare data and surging cyberattacks to drive global blockchain in
healthcare market through 2027
According to
TechSci Research report, “Global Blockchain in Healthcare Market By Type, By
Application, By End User, By Region, Competition, Forecast & Opportunities,
2027”, global blockchain in healthcare market is projected
to witness a CAGR of over 70% during 2020 - 2027, 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, which is anticipated to drive the blockchain in healthcare market
through 2027. Need for improving security and interoperability of healthcare
information system is boosting the adoption of blockchain in healthcare
industry.
Browse 15 market data Tables and 85 Figures
spread through 110 Pages and an in-depth TOC on "Global Blockchain in Healthcare Market”
https://www.techsciresearch.com/report/blockchain-in-healthcare-market/3913.html
The global
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., Accenture Plc, PokitDok, Inc., Factom Inc., Healthereum, LLC, Guardtime,
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 delivery of best healthcare services. Moreover, high need for
reducing 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, 2027” 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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