Blockchain Technology in Healthcare Market is to surpass USD 36.53 billion by 2030 owing to incidents of healthcare data breaches are on the rise.

The SNS Insider report indicates that the Blockchain Technology in Healthcare Market was valued at USD 468 million in 2022, and is expected to reach market size of USD 36.53 billion by 2030, with a compound annual growth rate (CAGR) of 72.4% expected over the forecast period from 2023 to 2030.

Based on SNS Insider’s research, the healthcare sector is increasingly adopting permissioned blockchain, where access to it is limited to authorised parties. The strategy addresses privacy issues associated with healthcare data in a way that meets legal requirements. It is an intentional effort to create a safe environment for medical data transactions.

Market Report Scope

The blockchain technology in healthcare market report provides a comprehensive analysis of the impact, growth, and potential opportunities within the industry. With advances in digital health records and data security becoming increasingly important, blockchain technology offers an innovative solution to securely store, manage, and exchange sensitive patient information. The report delves into key factors driving market growth such as increasing demand for interoperability and transparency in healthcare systems, along with the rise of telemedicine and remote patient monitoring. Additionally, it highlights emerging trends like the adoption of artificial intelligence and IoT devices that are shaping the future of healthcare delivery. Overall, the insights presented in this report serve as a valuable resource for industry professionals looking to navigate the complexities of integrating blockchain technology into their operations.

Get Sample Report: www.snsinsider.com/sample-request/2196

Major Key Players in the Blockchain Technology in Healthcare Market:

• Chronicled
• Gem
• Hashed Health
• Guardtime
• IBM
• Patientory
• iSolve
• Microsoft
• Factom
• PokitDok

Blockchain Technology in Healthcare Market Analysis

The Blockchain Technology in Healthcare market is experiencing significant growth due to its ability to provide secure and transparent transactions, streamline processes, and improve data integrity within the healthcare industry. The technology offers a decentralized system that allows for the secure sharing of patient data among healthcare providers and patients themselves, reducing administrative costs and improving overall efficiency. Additionally, blockchain can enhance security measures by encrypting data and providing a tamper-proof record of information, reducing the risk of data breaches or fraudulent activities. As healthcare organizations continue to adopt blockchain technology, the market is projected to see substantial growth in the coming years as more stakeholders recognize the benefits of this innovative solution for improving patient care and operational processes within the industry.

Key Market Segmentation:

By Network Type

• Private
• Public

By Application

• Clinical Data Exchange & Interoperability
• Claims Adjudication & Billing
• Supply Chain Management
• Clinical Trials & eConsent

By End-user

• Providers
• Payers
• Biopharmaceutical & Medical Device Companies

Make Enquiry About Blockchain Technology in Healthcare Market Report: www.snsinsider.com/enquiry/2196

Segmentation Analysis –

In 2022, the application segment for supply chain management accounted for more than 25% of the healthcare industry’s use of blockchain technology. Data integrity is preserved by the use of block chain applications. Interoperability with the Internet of Things IoT devices is also facilitated by this technology for pharmaceutical companies. They are also facilitating the recruitment of candidates for clinical studies and regulating the supply chain in pharmaceuticals. By reducing operational costs, data corruption and process optimization in the healthcare sector, blockchain can be transformed.

Biopharmaceutical and medical device companies accounted for the largest market share of more than 40% by end user in 2022. This is due to large R&D budgets, the need for secure data exchange and interoperability as well as a high level of data management carried out by these companies in fields like drug discovery and development. It is also estimated that a significant share of this segment will be contributed by the adoption of technologies for essential functions, such as verifying the authenticity of returned medicines, counterfeiting prevention, compliance with the pharmaceutical supply chain, transparency and traceability in clinical trials or improving data quality.

Key Regional Development –

The largest share of the worldwide healthcare blockchain market belonged to North America. The implementation of regulations in North America on the security of patient data, improving the quality of care, increasing the incidence of fraud in the healthcare sector, increasing the need to reduce rising healthcare costs, and the growing need to protect medical data from tampering are driving the growth of the North American healthcare blockchain market.

Asia Pacific is expected to grow at a high compound annual growth rate during the forecast period. Factors such as the improved healthcare infrastructure, increased adoption of electronic health records systems and medical information exchange solutions from various stakeholders in the healthcare sector due to an increasingly high number of patients visiting this area are also factors, and increasing need to prevent counterfeit drugs from entering the supply chain are driving the growth of this regional segment.

Key Takeaway from Blockchain Technology in Healthcare Market Study –

The adoption of cryptocurrencies in health care is hindered by legal obstacles, legacy system compatibility issues, lack of standardization which affects interoperability and privacy concerns.

Blockchain, together with accelerating medical research in clinical trials, will have a major impact on health supply chain management, patient engagement and telemedicine revolution.

Tokenization is transforming the way healthcare information is managed. With a shift to privacy focused permissioned blockchains and integration with artificial intelligence, collaborative initiatives support the adoption of blockchain technology.

Recent Development Related to Blockchain Technology in Healthcare Market –

In November 2023, to provide tamperproof evidence of data integrity in the pharmaceutical supply chain, increase authenticity and traceability for more secure pharmacy distribution systems as well as enhance authenticity, Guardtime introduced an innovative product called Keyless Trust Anchor.

In October 2023, the acquisition of Med Ledger LLC by iSolve LLC is a major step forward. In other words, this strategic move aimed at strengthening their presence in the healthcare sector by leveraging expertise acquired through that acquisition to expand iSolves blockchain platform capabilities for clinical trial management and patient data protection.

Blockchain Technology in Healthcare Market Report: www.snsinsider.com/checkout/2196

Table of Content

Chapter 1 Introduction 

Chapter 2 Research Methodology

Chapter 3 Blockchain Technology in Healthcare Market Dynamics

Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)

Chapter 5 Value Chain Analysis

Chapter 6 Porter’s 5 forces model

Chapter 7 PEST Analysis

Chapter 8 Blockchain Technology in Healthcare Market Segmentation, By Network Type

Chapter 9 Blockchain Technology in Healthcare Market Segmentation, By Application

Chapter 10 Blockchain Technology in Healthcare Market Segmentation, By End User

Chapter 11 Regional Analysis

Chapter 12 Company profile

Chapter 13 Competitive Landscape

Chapter 14 Use Case and Best Practices

Chapter 15 Conclusion