The report of Global Smart Contracts in Healthcare Market by block chain platform(ethereum, bitcoin, NXT, sidechains), end user (pharmaceutical companies, healthcare providers, healthcare payers and other end users), application (patient data management, electronic health records (EHRS), supply chain management, clinical data exchange and interoperability, claims adjudication and billing management and others), and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) is expected to reach US$ XX Bn by 2027, at a CAGR of XX % during a forecast period.
The Smart contracts are assisting to reduce hassles and complexity. The shared ledger capability of a healthcare with the block chain technology delivers complete visibility. It also allows patients and healthcare providers to negotiate complex bundle claims. Additionally, integration of smart contracts solution with healthcare reduces the claims adjudication process and making the process seamless. It also eliminates middlemen like PBMs, retail pharmacies, and drug wholesalers, which is in turn to reduce the complexity of setting up the prices of drugs.
Blockchain technology platform is one of the disruptive technologies that drive global smart contracts in healthcare market.
Blockchain technology is one of the disruptive technologies in the healthcare industry. The current healthcare ecosystem model contains a number of stakeholders that add cost and complexity to the ecosystem. The number of participating stakeholders contains pharmacy manufacturers, pharmacy benefits managers (PBMs), consumers, retail pharmacies, and drug wholesalers. These participating stakeholders have to manage the complexity of setting up the prices of medicines.
North America region is estimated to hold the dominant position in the global smart contracts in healthcare market.
By region, a global smart contract in healthcare market is segmented into the North America, Europe, Middle East & Africa, South America, and Asia Pacific. Among these, the North America region is estimated to contribute XX% share in the market. The growth in the market is attributed to the presence of the well established healthcare infrastructure in the region. In addition, High investment by tier 1 companies like IBM Corporation, SimplyVital Health, and Microsoft Corporation and significant contribution of the research and academic institutions are also boosting the regional market growth.
Key players operating in the Global Smart Contracts in Healthcare Market includes IBM Corporation., Patientory, Factom, Hashed Health, ISolve, Proof.Work., Guardtime, Medicalchain, FarmaTrust, SimplyVital Health, SmartData Enterprises, Microsoft Corporation, Gem, PokitDok, Inc and Chronicled.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Smart Contracts in Healthcare Market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global Smart Contracts in Healthcare Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Smart Contracts in Healthcare Market positioning of competitors.
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