Pune, Oct 24, 2022: Maximize Market Research has published a report on the Blockchain Healthcare Market that provides a detailed analysis for the forecast period of 2022 to 2029. According to the MMR report, the Blockchain Healthcare Market size was valued at USD 63.98 Mn. in 2021, and the total market revenue is expected to grow by 56.2 percent from 2022 to 2029, reaching nearly USD 2267.34 Mn.
Blockchain Healthcare Market Overview:
A growing set of documents, referred to as blocks, that are linked together cryptographically is referred to as a blockchain. A cryptographic hash of the preceding block, the time and date, and transaction details are all included in each block. By confirming that the transaction data existed when the block was published, the timestamp enables hashing. They form a chain, with each new block supporting the ones before it since each block holds information about the one before it. Blockchains are therefore resistant to data manipulation since, once recorded, the contents in any one block cannot be modified retroactively without having an effect on all following blocks.
The demand for blockchain technology in healthcare is expected to grow as the Internet of Things (IoT) is applied more frequently in healthcare. The adoption of cutting-edge and cutting-edge computer technology like blockchain strengthens the healthcare sector’s already strong competencies. The Internet of Things (IoT) is helping physicians and other healthcare professionals identify various illnesses early on.
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Blockchain Healthcare Market Dynamics:
The market growth is driven by the rising frequency of data breaches and leaks, as well as the growing need to stop these problems. The main driving forces for the adoption of the technology are the strategic measures taken by the key stakeholders, the increasing need to prevent medicine counterfeiting, and the necessity for effective health data management systems.
However, the coronavirus outbreak accelerated the use of cutting-edge technologies like blockchain in the healthcare industry. Healthcare facilities in several nations have adopted blockchain technology, which has facilitated efficient resource and operation planning. This technology has improved the management of clinical trial data by speeding up regulatory clearances, streamlining communication between various supply chain parties, etc. A tracking system based on blockchain is also being developed by many market actors to stop the spread of false information.
Blockchain Healthcare Market Regional Insights:
Due to numerous steps made by regional governments to prevent a data leak, Europe held the largest market share in 2021. Businesses in the region should have greater opportunities as a result of GDPR implementation and the tremendous rise of blockchain technology. During the projected period, North America is anticipated to have the second-largest market share. The main driver of regional growth is the rise in demand for medical record security.
Blockchain Healthcare Market Segmentation:
Global Blockchain Healthcare Market, by Application
- Supply Chain Management
- Clinical Data Exchange and Interoperability
- Claims Adjudication and Billing Management
- Other Applications
Global Blockchain Healthcare Market, by End-User
- Pharmaceutical Companies
- Healthcare Payers
- Healthcare Providers
- Others
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Blockchain Healthcare Market Key Competitors:
Key players in the Blockchain Healthcare Market include:
- IBM
- Microsoft
- Guardtime
- Doc.Ai
- Iryo
- PokitDok
- Gem
- Chronicled
- Coral Health
- iSolve
- Hashed Health
- Patientory
- Factom
- EncrypGen
- Proof.Work
- SimplyVital Health
- FarmaTrust
- Blockpharma
- Medicalchain
- Nebula Genomics
- Accenture
- Capgemini
- Deloitte Touche Tohmatsu Limited
- Digital Asset Holdings
- Global Arena Holding, Inc.
- Ethereum
- BitFuryUsa Inc.
Key Questions answered in the Blockchain Healthcare Market Report are:
- What is the competitive landscape of the Blockchain Healthcare Market?
- Which are the key factors aiding the Blockchain Healthcare Market growth?
- What segments are covered in the Global Blockchain Healthcare Market report?
- Which region is expected to hold the highest share in the Global Blockchain Healthcare Market?
- Which region is expected to hold the largest share in the Blockchain Healthcare Market by 2029?
- What will be the CAGR of the Blockchain Healthcare Market during the forecast period?
- Which are the prominent players in the Blockchain Healthcare Market?
- What is the expected Blockchain Healthcare Market size by 2029?
- Which company held the largest share in the Blockchain Healthcare Market in 2021?
Related Report Published by Maximize Market Research:
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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