Industry Background:
The transformation of healthcare delivery has led to the evolution of the concept of patient-centricity or participatory approach to healthcare delivery. Every healthcare industry organization, irrespective of whether it is a provider or payer, understands that there is this only way to keep itself in contention is to provide its members with a best-of-class experience in care delivery at a low cost. Rising demand for healthcare services and integrated delivery, coupled with an increased focus on member health management emphasizes the need for an information technology system. Here blockchain can be useful as it doesn’t require multiple-level authentication and at the same time, it gives complete on-demand access to chronologically arranged data. This robust technology can drive healthcare industry performance with improved quality at low cost.This growth is primarily driven by Rise in Counterfeit Drugs in the Market
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Health Care Technology sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as IBM (United States), Microsoft (United States), Pokitdok Inc. (United States), Guardtime (Netherlands), Hashed Health (United States), Chronicled Inc. (United States), Patientory Inc. (United States), PokitDok (United States) and SimplyVital Health (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In April 2018, SimplyVital Health, Inc. announced a partnership with Shivom Ventures Limited to form Global Healthcare Blockchain Alliance. The strategic partnership aimed at supporting the organization to develop technologically advanced products in the blockchain industry, thereby strengthening its foothold in the market.
In 2018, Microsoft and Viant along with GSK formed a consortium named Viant Blockchain Programme aimed to speed the adoption of a supply chain powered by blockchain across a variety of industries, including the healthcare sector.The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new product launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Influencing Trend:
Technology Advancement and Innovation in Blockchain Technology in Healthcare
Market Growth Drivers:
Rise in Counterfeit Drugs in the Market, Low Cost of Maintenance and Growing Requirement to Store and Secure Medical Data
Challenges:
Lack of Awareness about Blockchain Technology in Healthcare and Its Understanding and Balancing Data-Sharing Capability with Privacy Concerns
Restraints:
Lack of a Central Entity and Common Set of Standards
Opportunities:
Personalized Healthcare, Pharmaceutical Research and Precision Medicines and Government Initiatives in Various Countries for Blockchain Technology
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Blockchain technology in Healthcare Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Blockchain technology in Healthcare Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Blockchain technology in Healthcare players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Blockchain technology in Healthcare Study Sheds Light on
The Blockchain technology in Healthcare Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Blockchain technology in Healthcare industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Blockchain technology in Healthcare industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.