MARKET OUTLOOK
Research by Triton shows that the Asia-Pacific blockchain in healthcare market will fast progress at a CAGR of 54.99% in terms of revenue over the forecast period 2019-2028. China, India, Japan, South Korea, Australia & New Zealand, ASEAN countries, and Rest of AAPC countries together form the market in this region.
Healthcare is a diverse, data-intensive field, and hence, data security is a big deal here. It can be a matter of life or death. Thus, the industry turns to blockchain as a possible solution to some of the major challenges it faces. In Bangladesh, over 550 patients have lost their life over the last six years owing to wrong medical treatment. The country has therefore devised ‘Digital Bangladesh by Vision 2021.’ It aims to build up a healthy population by providing access to superior healthcare facilities.
Information and communication technology enabled healthcare service delivery in the country, and the capacity to build tens of thousands of semi-skilled health workers. The eHealth system is being given prime importance, owing to the Digital Bangladesh campaign. Currently, over 800 healthcare facilities have access to the internet, and doctors can access it through their mobile phones. Thus, the growing digital programs for healthcare will raise the demand for blockchain in the country, which, in turn, will aid the development of the blockchain in healthcare market in Rest of Asia-Pacific.
COMPETITIVE OUTLOOK
The prominent companies in this market are Healthereum LLC, Chronicled, Factom, SkyCell AG, Change Healthcare, International Business Machines Corporation, and Patientory.