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Blockchain Technology in Healthcare Market Size, Share, Demand and Opportunities Analysis to 2031 | Akiri, Inc., Avaneer Health, Inc., BurstIQ, Crystalchain, Change Healthcare.

02-16-2023 04:52 AM CET | Health & Medicine

Press release from: Global Insight Services

Blockchain Technology in Healthcare Market

Blockchain Technology in Healthcare Market

The global Blockchain Technology in Healthcare Market was valued at USD 1.5 Billion in 2021 and it is anticipated to grow up to USD 16.2 Billion by 2031, at a CAGR of 27.3% during the forecast period.

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Blockchain technology is a distributed database that allows for secure, transparent and tamper-proof sharing of data. In healthcare, blockchain can be used to create a secure and interoperable system for storing and sharing medical data. By creating a decentralized network of health data, blockchain can help to reduce errors, improve data quality and increase trust between patients and providers. Additionally, blockchain can help to enable new applications such as clinical trial management, drug supply chain tracking and patient-centered data sharing.

Market Trends and Drivers

Growing need to store & secure medical data coupled with the rising incidence of medical data breaches to spur the blockchain technology in healthcare market expansion

There has been a surge in the requirement to store and secure medical data that can have significant advantages for healthcare facilities, medical staff, and patients. Blockchain technology is cross-checked, encrypted, and decentralized that enables medical data to remain strongly backed, thereby providing stimulus to the market progression. The government of several countries is emphasizing on the digitalization of the healthcare system and related industry sectors that potentially improve health outcomes, enhance patient engagement, enable better predictions, etc.

Report Overview- https://www.globalinsightservices.com/reports/blockchain-technology-in-healthcare-market

Owing to increased attack volume for various healthcare service providers, the U.S. and UK government has made a significant investment to ensure that all health records are digitized. Further, medical data has been subjected to risks of privacy breaches attributed to unauthorised access to electronic health records (EHR) or loss of physical patient files.

Major Players in the Global Blockchain Technology in Healthcare Market

The key players in the Blockchain Technology in Healthcare Market Akiri, Inc., Avaneer Health, Inc., BurstIQ, Crystalchain, Change Healthcare, Inc., Chronicled, Equideum Health, Embleema, Farma Trust, and Guardtime, among others.

COVID-19 Impact

The COVID-19 pandemic arose as an unparalleled health concern, infecting a significant number of people across the world. The pandemic inflicted economic damages and financial adversities on global economy and several industrial sectors. Several countries imposed national emergencies and lockdowns to curb the spread & infection due to the SARS-CoV-2. Clinical studies and surveys have reported a drop in the outpatient and emergency medical services in the U.S. Many medical practices were hampered, distracted, postponed and halted, especially the elective medical practices, thereby impacting the industry growth.

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However, the coronavirus outbreak propelled the acceptance of innovative technologies comprising blockchain technology in healthcare. Several countries implemented blockchain technology in healthcare facilities that aided in effective planning operations and resource deployments. This technology has enhanced clinical trial data management by reducing delays in regulatory approvals, streamlined the communication between diverse stakeholders of the supply chain, etc. Furthermore, numerous market players are focused to develop a blockchain-based tracking system to halt the spread of misinformation.

Global Blockchain Technology in Healthcare Market Segmentation

By Type

Public
Private

By Application

Clinical Trials
Supply Chain Management
Data Exchange and Interoperability
Claims Adjudication and Billing Management
Others

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By End-user

Pharmaceutical Companies
Healthcare Payers
Healthcare Providers
Others

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Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario

About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

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16192, Coastal Highway, Lewes DE 19958
E-mail: info@globalinsightservices.com
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/

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