WESTFORD, Mass., June 26,
2024 /PRNewswire/ -- According to SkyQuest, the
Blockchain Technology in Healthcare Market size was valued at
USD 524.40 Million in 2022 and is
expected to grow from USD 725.25
Million in 2023 to reach USD 9706.49
Million by 2031, at a CAGR of 38.3% during the forecast
period (2024-2031).
From artificial intelligence to blockchain all novel
technologies are being deployed in the healthcare space as
digitization picks up pace around the world. High use of electronic
health records (EHR) and emphasis on safeguarding patient data are
projected to promote Blockchain Technology in Healthcare Market
development in the future. The global Blockchain Technology in
Healthcare Market is segmented into network type, application, end
user, and region.
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Blockchain Technology in Healthcare Market
Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
$ 725.25 Million
|
Estimated Value by
2031
|
$ 9706.49 Million
|
Growth
Rate
|
Poised to grow at a
CAGR of 38.3%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Million)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and
Trends
|
Segments
Covered
|
Type, Application and
End-user
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin America
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Increasing Demand for
Enhanced Data Security and Transparency
|
Key Market
Drivers
|
Complexity of
Implementation and Integration
|
Segments covered in Blockchain Technology in
Healthcare Market are as follows:
- Type
- Application
- Supply Chain Management, Data Exchange and Interoperability,
Claims Adjudication and Billing, and Others
- End-user
- Pharmaceutical and Medical Device Companies, Healthcare Payers,
and Healthcare Providers
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https://www.skyquestt.com/speak-with-analyst/blockchain-in-healthcare-market
Low Costs of Public Blockchain Allow it to be Widely Used in
Healthcare Applications
Blockchain in healthcare providers are using public blockchain
networks for data management in the healthcare industry. Low costs
and easy accessibility with good security are key benefits of
public networks that most blockchain healthcare companies are
targeting. The immutability of data transactions recorded on a
public network is another key benefit that makes this sub-segment
highly beneficial for healthcare companies.
However, the demand for private blockchain networks is
forecasted to increase at a robust pace across the forecast period
and beyond. Better speed, faster response times, robust security,
and scalability are some key advantages of private blockchain
networks that allow this segment to bolster market growth at a
rapid CAGR. Evolving enterprise needs of healthcare blockchain
platforms will also favor the demand for private networks.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/blockchain-in-healthcare-market
Clinical Trials to Witness Rapid Adoption of Blockchain
Technologies Going Forward
Use of blockchain technology for clinical trial applications
enhances the security and transparency of clinical trial data.
Blockchain networks do not allow alteration of data and this makes
it highly secure to share crucial clinical data with clinicians and
regulatory authorities without worrying for tampering. High
investments in medical R&D and an increasing number of
companies applying for approvals are boosting the demand for
blockchain solutions for clinical trial applications.
Supply chain management is projected to account for a notable
share of the global Blockchain Technology in Healthcare Market.
Blockchain technology helps optimize the healthcare supply chain by
reducing costs, minimizing data losses and tampering, and
optimizing resource utilization. Blockchain solutions in the
healthcare space also promote the interoperability of IoT (Internet
of Things) devices and other connected technologies.
Healthcare Providers to Take the Lead in Terms of Blockchain
in Healthcare Adoption
Healthcare providers are projected to be the most opportune end
user sub-segment for blockchain in healthcare companies over the
coming years. The use of blockchain technology enables transparency
between providers and patients whilst ensuring the security of the
transaction as well. Adoption of electronic health records and
other digital health solutions will also create new opportunities
for blockchain in healthcare providers in this sub-segment.
Meanwhile, the payer end user segment is also expected to offer
highly lucrative opportunities for blockchain in healthcare
companies in the long term as crypto payments and
wallets gain popularity among users around the world.
Blockchain in healthcare companies should target healthcare
providers and payers to generate maximum revenue over the coming
years. Investing in supply chain management applications is the
right move for established blockchain in healthcare companies but
new companies should target clinical trial applications to
penetrate the market successfully in the future. Blockchain in
healthcare providers should focus on providing private network
benefits in the cost of public networks to improve adoption of
blockchain technology in the healthcare industry vertical.
Related Report:
Blockchain Market
Automotive Blockchain Market
Blockchain Devices Market
Crypto Currency Market
Blockchain In Manufacturing Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
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SOURCE SkyQuest Technology