Blockchain in Healthcare Market Size to Record 60% CAGR Through 2028

Market Study Report has recently added a report on Blockchain in Healthcare Market which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of this industry. The report also highlights the major challenges and current growth strategies adopted by the prominent companies that are a part of the dynamic competitive spectrum of this business sphere.

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Seasoned researchers cite that global blockchain in healthcare market size is anticipated to record a decent CAGR of 60% through 2028, and subsequently amass an appreciable valuation by the end of the forecast period.

Considering the competitive framework, Patientory Inc., iSolve LLC, Blockpharma, Medicalchain S.A., BurstIQ Inc., Oracle Corporation, Change Healthcare Inc., IBM Corporation, Solve.Care, and UnitedHealth Group are the key players impacting global blockchain in healthcare industry dynamics.

As per the report findings, global blockchain in healthcare market growth can be attributed to rising prevalence of data leaks and breaches in tandem with surging necessity to properly tackle these vulnerabilities.

For those unaware, blockchain technology possesses the capability to improve the operational efficiency of healthcare providers across the globe by the way of innovative solutions that are quicker and cost-effective in the long run.

Furthermore, escalating adoption of such technology in hospitals to ensure data security is bound to improve the scope of profitability for the market during 2022-2028.

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Speaking of network type, worldwide blockchain in healthcare marketplace is comprised of private network and public network among others. The public network segment is poised to gain substantial traction over the forecast timeframe.

In terms of end-user scope, the market is classified into healthcare providers, and biopharmaceutical & medical device companies among others. Recent citations reveal that biopharmaceutical & medical device companies segment is expected to grow considerably over the analysis timeline.

Regionally, North America is a major contributor to overall market revenue at present and is poised to accrue a remarkable remuneration during the assessment timeframe, owing to growing government investments toward integrating blockchain technology within the healthcare sector of the region.

Meanwhile, Asia Pacific industry is slated to showcase a promising growth rate over the forecast duration, attributable to rapid penetration of blockchain technology in the healthcare & pharmaceutical sectors to effectively tackle security challenges, along with notable proliferation of government investments that encourage its integration across the region.

• In October 2021, amid the COVID-19 spread, a COVID-19 testing service was launched by MDS Mexico. This service is blockchain technology-based and ensures the authenticity of vaccination certificates.

• In April 2020, to tackle COVID-19, IBM Corp. established the IBM Rapid Supplier Connect, a blockchain-based network that connects healthcare companies and governments with non-traditional device, equipment, and supply vendors.

Questions and Answers: - Global blockchain in healthcare market

Question 1. What are the major factors driving global blockchain in healthcare market growth?

Answer 1. Rising prevalence of data leaks and breaches in tandem with surging necessity to properly tackle these vulnerabilities are the major factors driving global blockchain in healthcare market growth.

Question 2. Why is North America a promising avenue for global blockchain in healthcare market growth?

Answer 2. Growing government investments toward integrating blockchain technology within the healthcare sector of the region are the prominent factors that are impelling the demand in North America, thus making it a promising avenue for global smart blockchain in healthcare market growth.

Question 3. Which are the key players influencing global blockchain in healthcare market trends?

Answer 3. Patientory Inc., iSolve LLC, Blockpharma, Medicalchain S.A., BurstIQ Inc., Oracle Corporation, Change Healthcare Inc., IBM Corporation, Solve.Care, and UnitedHealth Group are the key players impacting global blockchain in healthcare market dynamics are key players influencing global blockchain in healthcare market trends.

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