According to Precision Business Insights, the Blockchain Technology in Healthcare Market research report provides industry size and growth.
Precision Business Insights (PBI) in its report titled Global Blockchain Technology in Healthcare Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2018-2022 and Forecast 2023-2029. assesses the market performance over seven years forecast period over 2018-2024. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The global blockchain technology in healthcare market was valued at US$ 850 Mn in 2017 and growing at a significant CAGR over the forecast period owing to rise in the demand for integrated healthcare services along with the need for the information based system to manage data are driving the blockchain technology in healthcare market over the forecast period. Moreover, the blockchain technology can decentralize the data storage and enables the data sharing without any deterrence and can make it possible for doctors to access real-time information, which could boost the blockchain technology in healthcare market. However, lack of awareness and knowledge on blockchain technology among healthcare professionals may hinder the growth of the global healthcare blockchain technology market over forecast years.
The global blockchain technology in healthcare market segmented on the basis of application, end user, and region
Based on application, global blockchain technology in healthcare market segmented into clinical data exchange and interoperability, supply chain management, and claims settlement and billing. Clinical data exchange & interoperability market accounted for larger revenue share in 2017 and projected to dominate over the forecast period owing to rise in cases of medical data breach, growing number of fraudulent drugs and medicines cases, and increasing investments in blockchain technology by startups industry. Moreover, Companies are investing heavily in blockchain technology system production as it is highly appreciated by the healthcare organizations
North America leads the Global Blockchain Technology in Healthcare market
PBI'™s global blockchain technology in healthcare market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to regional analysis, North America accounted for larger revenue share in 2017 and the same trend is projected to follow over 2018-2024 due to increasing cases of a medical data breach, growing number of fraudulent drugs and medicines cases, and rising investments in blockchain technology startups working in healthcare sector in the region. Europe blockchain technology in healthcare market projected to exhibit significant growth and the Asia Pacific is expected to be the highest growing region in the blockchain technology in healthcare market during the forecast period followed by the Middle East & Africa and Latin America.
Acquisitions & Mergers and strategic alliances are the key strategies adopted by the market players
Global blockchain technology in healthcare market report further reveals that the key player'™s increasingly adopting strategies such as acquisitions & mergers and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In November 2018, Primary care IT system provider EMIS has announced the acquisition of UK business specialising in the use of blockchain in healthcare.
Key player'™s profiles in the report are Microsoft, IBM, PokitDok, Guardtime, Gem, iSolve, Chronicled, Hashed Health, Factom, Patientory, Proof.Work, FarmaTrust, SimplyVital Health, Medicalchain, and Blockpharma.
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