Press release
Blockchain Technology Market Latest Trends, Segmentation Analysis, Share, Size, and Forecast 2032
According to Report Ocean , the global market is witnessing a significant rise in revenue from US$ million in 2023 to US$ million by 2032. The market will grow at a significant compound annual growth rate (CAGR) of % during the forecast period from 2023 to 2032.
Introduction
In 2021, the global blockchain technology in the healthcare market reached a substantial size of US$ 531.1 million. Projections indicate a remarkable surge, with the market estimated to reach US$ 11,550.5 million by 2030. This growth is set to unfold at an impressive Compound Annual Growth Rate (CAGR) of 40.8% during the forecast period from 2022 to 2030.
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Understanding Blockchain in Healthcare
Beyond Borders: Decoding Distributed Databases
Blockchain, a distributed database spread across computer web nodes, serves as a digital catalog for information storage. In the healthcare sector, it finds application in storing and sharing patients' details among hospitals, diagnostic labs, doctors, and drug firms. This utilization aims to enhance the efficiency, safety, and accessibility of medical data transfer within the healthcare ecosystem.
Factors Influencing Market Growth
Navigating Catalysts and Challenges
Use in Healthcare Boosts Data Security: The adoption of blockchain in healthcare addresses data security concerns, emerging as a leading market trend.
Counterfeit Drug Supply: The global market witnesses growth due to an increase in the supply of counterfeit drugs.
Lack of Useful Standards: Challenges arise from the lack of a standardized set of regulations and the intricate nature of blockchain technology.
Impact of the COVID-19 Pandemic
Adapting to Change
COVID-19 has left a positive impact on the blockchain in the healthcare market. Hospitals worldwide underwent restructuring to enhance capacity, and non-essential practices faced delays. Lockdowns disrupted healthcare requirements, influencing the market through factors like limited medical care availability and an increase in COVID-19-related hospitalizations.
Regional Insights
Exploring Global Hotspots
North America: Emerging as a Key Player - North America witnessed significant market share growth in 2021 and is anticipated to lead during the analysis period. This growth is attributed to technological advancements, software processes, integration of advanced technology, the presence of key players, and robust infrastructure in the region.
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Leading Competitors
Pioneers in the Landscape
The global blockchain technology in the healthcare market is driven by leading players, including:
Proof Works
Patientory
Oracle Corporation
Medical Chain
Hashed Health
Farmatrust
GuardTime
Change Healthcare
BurstIQ
Crystal Chain
Others (Note: List not exhaustive; request a free sample for a complete list.)
Segmentation Analysis
Understanding Market Dynamics
Type Segmentation:
Public
Private
Consortium
Fully Private
Application Segmentation:
Supply Chain Management
Data Exchange and Interoperability
Claims Adjudication and Billing
Others
End User Segmentation:
Healthcare Payers
Healthcare Providers
Pharmaceutical and Medical Device Companies
Regional Segmentation:
North America
Europe
Asia Pacific
Middle East & Africa (MEA)
South America
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Table of Contents:
Report Overview
Global Growth Trends
Competition Landscape by Key Players
Data Segments
North America Market Analysis
Europe Market Analysis
Asia-Pacific Market Analysis
Latin America Market Analysis
Middle East & Africa Market Analysis
Key Players Profiles Market Analysis
Analysts Viewpoints/Conclusions
Appendix
Key Reasons to Purchase this Report:
Strategic Direction
Comprehensive Analysis
Growth Opportunities
Competitive Landscape
Detailed Company Profiles
Future Market Outlook
Industry Analysis
Value Chain Insights
About Report Ocean
Report Ocean is a renowned market research reports provider, known for its informative research reports. They offer both quantitative and qualitative research results, leveraging the latest technology and analysis tools. Their global network and industry coverage provide in-depth knowledge for informed and strategic business decisions.
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Email: sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 - UNITED STATES
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