blockchain technology in the healthcare market Trends, Challenges, Segmentation with Forecast 2023

 

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 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.

Key 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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blockchain technology in healthcare market is segmented so as to get a better sense of the developments taking place in it. The segmentation of the market is broadly carried out on the basis of application, end-user and region. The application basis of segmentation of the market comprises of billing management, supply chain management among others. The application segment is set to grow at a rapid pace due to the development of blockchain technology in the upcoming years. The end user basis of market segmentation comprises of healthcare companies/ providers, pharmaceutical industries among others. The regional analysis of the blockchain technology in the healthcare market covers regions such as Asia Pacific, Europe, North America and Rest of the World.

By Application

  • Supply Chain Management,
  • Clinical Data Exchange & Interoperability,
  • Claims Adjudication
  • Billing

By End User

  • Pharmaceutical companies
  • Service providers
  • Healthcare consumers

The report encompasses historical trends, market dynamics, market share analysis of key players, and market factor analysis which include supply chain and Porter’s five forces analysis. A country-level analysis of each segment, as well as market value by region and segmentation, is also available in the report.

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. In the long term, a countrywide blockchain network for electronic medical records may boost proficiencies and provide better health outcomes for patients.

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Secondary sources are referred for an in-depth and reliable quantitative study of the market dynamics and include whitepaper references, industry journals, SEC filings, paid database services, etc. Top-down and bottom-up approaches are engaged to ensure the optimum quality of the research findings available in our report. Furthermore, the multi-layer verification process employed reaffirms the deliverance of high quality and error-free insights.

By Region

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World (RoW)

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