Our comprehensive research on the Blockchain Technology in Healthcare Market (2023-2031) provides insights for businesses. It covers trends, investments, tech advancements, and major players. The report uses qualitative and statistical data from 2017-2031, including SWOT, BCG, PESTLE analysis, and visuals. It offers a full market landscape with stakeholder insights, regional outlooks, and financial considerations.
The global blockchain technology in healthcare market size was US$ 591.9 million in 2021. The global blockchain technology in healthcare market is forecast to grow to US$ 76031.1 million by 2030 by registering a compound annual growth rate (CAGR) of 65.1% during the forecast period from 2022 to 2030.
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Blockchain technology is characterized as a decentralized, distributed ledger that catalogues a digital asset’s provenance. It is known as distributed ledger technology, and it uses decentralization and cryptographic hashing to permanently and transparently record the history of any digital asset.
Factors Influencing the Market
Blockchain has a wide range of healthcare applications, which is forecast to drive the growth of the overall blockchain in healthcare market. In addition, the rising incidences of data breaches in healthcare are expected to fuel the growth of the market during the study period.
Blockchain technology is becoming more and more important in the healthcare sector. With the use of blockchain technology, numerous entrepreneurs have begun to address significant pain points in the healthcare sector. Due to the interest in technology, numerous governmental organizations are utilizing blockchain technology. Apart from that, rising government spending in healthcare is forecast to fuel the growth of the overall blockchain technology in healthcare market during the forecast period.
Growing investments and collaborations will also contribute to market growth. For instance, UnitedHealth Group, MultiPlan, Quest Diagnostics, and Humana joined forces with the aim to leverage the scope of blockchain in exchanging financial and other healthcare information securely. Thus, such strategies are expected to have a significant positive impact on the blockchain technology in the healthcare market during the study period.
COVID-19 Impact Analysis
Blockchain Technology has gained significant traction in the healthcare sector. In the wake of the COVID-19 pandemic, various healthcare organizations adopted digital methods to cater to the demands. Moreover, healthcare data has grown steeply over the last few years, which is forecast to drive the growth of the blockchain technology in healthcare market.
Regional Analysis
Over the anticipated timeframe, North America will hold the highest share in the global blockchain technology in the healthcare market. The market growth is driven by the implementation of regulations in the region related to the safety of patient data and improving the quality of care. In addition, other factors like an increase in healthcare fraud incidents, a growing need to reduce rising healthcare costs, and a rising demand to safeguard medical data from tampering will drive the growth of the market.
The Asia-Pacific blockchain technology in the healthcare market will also record potential growth due to the rising contribution of government bodies. In addition, increasing digitization in the healthcare sector of the region is forecast to benefit the overall market during the study period.
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Competitors in the Market
• Farma Trust (UK)
• SimplyVital Health
• IBM (US)
• Microsoft (US)
• Chronicled (US)
• iSOLVE(US)
• Hashed Health (US)
• Patientory (US)
• Factom (US)
• Proof.Work (UK)
• Blockpharma (France)
• Medicalchain (UK)
• Other prominent players
The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the Blockchain Technology in Healthcare industry experienced notable growth in its workforce. Starting in January, employment within the Blockchain Technology in Healthcare sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Blockchain Technology in Healthcare output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
Forecasts indicate that the global Blockchain Technology in Healthcare output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Blockchain Technology in Healthcare market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Blockchain Technology in Healthcare market.
Market Segmentation
The global blockchain technology in healthcare market segmentation focuses on networks, Applications, End-Users, and regions.
Network Type Outlook
• Private
• Public
• Others
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Application Outlook
• Clinical Data Exchange & Interoperability
• Claims Adjudication & Billing
• Supply Chain Management
• Clinical Trials & eConsent
• Others
End-user Outlook
• Providers
• Payers
• Biopharmaceutical & Medical Device Companies
• Others
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America
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Table of Contents:
Chapter 1: Introduction to the Global Blockchain Technology in Healthcare Industry
Chapter 3: Dynamics of the Market
Chapter 4: Profiles of Leading Companies
Chapter 5: Competition in the Global Blockchain Technology in Healthcare Market among Players
Chapter 6: Market Size across Global Regions
Chapter 7: Application Segments in the Global Market
Chapter 8: Segment Analysis of the Global Blockchain Technology in Healthcare Industry
Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers
Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders
Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors
Chapter 12: Evaluation of Market Impact Factors
Chapter 13: Forecasted Global Blockchain Technology in Healthcare Market Size (2023-2031)
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(A) This research imparts invaluable insights tailored for senior management, policymakers, industry professionals, product innovators, sales executives, and stakeholders within the market. It equips them with the information needed to make well-informed decisions and craft effective strategies.
(B) The report delivers a comprehensive analysis of global, regional, and country-level Blockchain Technology in Healthcare market revenues, extending projections until 2030. This dataset empowers companies to gauge their market presence, recognize avenues for growth, and explore emerging markets.
(C) Through meticulous segmentation of the Blockchain Technology in Healthcare market encompassing types, applications, technologies, and end-uses, this study empowers leaders to blueprint their products and allocate resources based on the projected growth trajectories of each segment.
(D) Investors stand to gain from the market analysis by gaining insights into market scope, positioning, key drivers, challenges, limitations, expansion prospects, and potential risks. Armed with this knowledge, they can make well-considered investment choices.
(E) The report conducts an intricate analysis of competitors, unraveling their pivotal strategies and market positioning. This intelligence equips businesses with a profound understanding of the competitive landscape, enabling them to chart their own strategies accordingly.
(F) The study facilitates the assessment of Blockchain Technology in Healthcare business projections delineated by region, key countries, and prominent companies, bestowing invaluable information for investment strategizing and decision-making.
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• Assisting businesses in gauging the viability of new or existing products or services.
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• Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.
• Analyzing market trends to aid businesses in devising adaptive strategies.
• Guiding businesses in the optimal placement of their products.
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