Global Blockchain Technology in Healthcare Market: Key Highlights
Global Blockchain Technology in Healthcare Market: Key Market Dynamics
Global Blockchain Technology in Healthcare Market: Regional Overview
Increasing ageing population and rising healthcare costs indicate higher healthcare spending in the US. However, blockchain offers a potential solution to safeguard patient and clinical data. Moreover, growing need to safeguard the medical information of consumers has expected to boost the demand for blockchain in the region. For instance, the US Food and Drug Administration’s (FDA) Drug Supply Chain Security Act outlines requirement to develop and enhance the drug supply chain security by 2023. Thus, growing need of blockchain in healthcare to secure information and growing government regulation has expected to drive the market in the region.
Europe is expected to have a significant growth in blockchain technology in healthcare owing to the various government initiatives taken to secure data theft. For instance, EU has implemented General Data Protection Regulation (GDPR) in 2018, which has coupled the growth of blockchain technology in the region.
Global Blockchain Technology in Healthcare Market: Key Players Overview
SimplyVital Health, Inc is building the blockchain infrastructure which is safely adoptable by healthcare through proprietary and open source software. They focus on leveraging blockchain as a tool to increase data access and decrease the cost of healthcare. The company is recently working of software to improve healthcare utilizing distributed systems, cryptography and machine learning. In April 2018, the company entered into partnership with Shivom to improve advance the formation of a global healthcare blockchain alliance. Moreover, it is developing Health Nexus, a blockchain protocol designed for the privacy and security needs of healthcare.
Embleema is engaged in building patient driven healthcare blockchain network for secure sharing of personal health records. The company has its specialties in blockchain, healthcare technology, electronic medical records, healthcare, clinical research, clinical trials, medicine, and technology. In March 2019, Gustave Roussy and Embleema announced stratergic partnership to develop blockchain based health data sharing applications for oncology clinical research and development.
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