DUBLIN–(BUSINESS WIRE)–The “Blockchain Market in Healthcare – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s providing.
The blockchain market in healthcare was valued at USD 2.12 billion in 2020, and is predicted to achieve USD 3.49 billion by 2026, with a CAGR of 8.7% through the forecast interval, 2021 – 2026.
In 2018, the Illinois Blockchain Initiative (IBI) launched a number of pilots, together with a delivery registration pilot to develop safe identification options and a pilot to develop blockchain well being supplier credentialing options. Proposals like these are anticipated to enhance the market circumstances.
Firms Talked about
- IBM Company
- Microsoft Company
- Patientory Inc.
- Guardtime Federal
- Hashed Well being
- Factom Inc.
- iSolve LLC
- PokitDok Inc.
- Chronicled Inc.
Key Market Tendencies
Managing Healthcare Provide Chain Utilizing Blockchain to Dominate the Market
- The WHO estimates that many international locations in Africa and elements of Asia and Latin America have areas the place greater than 30% of the medicines on sale may be counterfeit.
- Pharmaceutical provide chain surveillance has proven that incidents of substandard or counterfeit medicines proceed to extend, that are perceived to be respectable provide chains around the globe. A number of components have contributed to those incidents, similar to pharmaceutical provide chains, that are very complicated and are in danger because of the involvement of under-regulated wholesalers, illicit distributors, non-legitimate web pharmacies, and a number of routes for importation around the globe.
- Developments in expertise have made it simpler for pharmaceutical counterfeiting, to repeat each product packaging and the pharmaceutical itself, so that there’s a little distinction.
- When a recall occurs, producers should talk clearly and swiftly with all the provide chain, from wholesale to retail pharmacies, and accumulate the defective merchandise. This calls for an elevated want of collaboration which may be attained by Blockchain.
North America to Witness the Highest Development
- In the US, the FDA’s Drug Provide Chain Safety Act outlines requirement to develop and improve the drug provide chain safety by 2023. These developments are excellent news for the blockchain business, as the businesses attempt to handle product high quality and safety.
- Main US healthcare corporations have shaped an alliance known as Synaptic Well being Alliance, which consists Humana, Multiplan, UnitedHealth Group’s Optum, UnitedHealthcare, and Quest Diagnostics and Ascension to attempt blockchain options, with a view to enhance knowledge high quality and scale back prices.
- In line with the Facilities for Medicare & Medicaid Providers, no less than half of the knowledge on the Medicare Benefit Organizations had errors, which impacts the shoppers by inflicting delay in medical providers and might make them topic to fines.
- In Boston, medical workplaces use greater than two dozen techniques for sustaining digital well being information. This makes them vulnerable to fraud and hacking.
- Ageing inhabitants and rising healthcare prices point out greater healthcare spending in the US. Thus, blockchain affords a possible resolution to safeguard affected person and medical knowledge.
Key Matters Lined:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Growing Information Breaches in Healthcare Trade is Driving the Market Development
4.3.2 Authorities Mandates Relating to Sustaining Drugs High quality is Growing the Market Demand
4.4 Market Restraints
4.4.1 Lack of Consciousness Relating to Blockchain Performance is Hindering the Market Development
4.5 Trade Worth Chain Evaluation
4.6 Trade Attractiveness – Porter’s 5 Forces Evaluation
5 MARKET SEGMENTATION
5.1 By Software
5.1.1 Scientific Information Trade
5.1.2 Billing Administration and Claims Adjudication
5.1.3 Provide Chain Administration
5.2 By Geography
5.2.1 North America
5.2.4 Latin America
5.2.5 Center East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Firm Profiles
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For extra details about this report go to https://www.researchandmarkets.com/r/e4nuvy