Global Blockchain In Healthcare Market 2024-2033: Trends, Analysis & Growth Forecast

The block chain in healthcare market size has grown exponentially in recent years. It will grow from $1.65 billion in 2023 to $2.27 billion in 2024 at a compound annual growth rate (CAGR) of 37.6%. The growth in the historic period can be attributed to interoperability challenges, fraud prevention, patient empowerment, clinical trials and research, immutable record keeping..

The block chain in healthcare market size is expected to see exponential growth in the next few years. It will grow to $7.97 billion in 2028 at a compound annual growth rate (CAGR) of 36.9%. The growth in the forecast period can be attributed to tokenization of healthcare assets, decentralized clinical trials, personalized medicine, cross-border healthcare transactions, consent management.. Major trends in the forecast period include personalized medicine advances, enhanced cybersecurity measures, rise of privacy-preserving technologies, integration with artificial intelligence, blockchain consortia in healthcare..

Market Overview -
Blockchain is an immutable shared ledger that records, maintain, secures data sharing and access between multiple parties.

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Elevating The Blockchain In Healthcare Market The Role Of Blockchain As A Service (BAAS)
The growing adoption of blockchain as a service (BaaS) is expected to drive the growth of the blockchain in healthcare market going forward. Blockchain technology can provide innovative solutions to the challenges faced by the healthcare industry which include supply chain management, smart contracts, the confidentiality of personal health information, technical issues in data management, enabling alternative payment models, and virus outbreak tracking. For instance, in March 2021, Moderna, a drugs manufacturing company, and IBM announced the collaboration to improve and strengthen COVID-19 vaccination management. Moderna can get information on real-time tracking of vaccination using IBM's blockchain and artificial intelligence to reduce supply chain disruptions. Therefore, the growing adoption of blockchain as a service (BaaS) propels the growth of the blockchain in healthcare market.

Competitive Landscape -
Major companies operating in the block chain in healthcare market report are International Business Machines Corporation (IBM), Factom Inc., Hashed Health LLC, Microsoft Corporation, iSolve Technologies Inc., Blockpharma Inc., Medicalchain. com Ltd, Guardtime Limited, Government e Marketplace, Patientory Inc., FarmaTrust, SimplyVital Health Inc., Akiri Inc., BurstIQ Inc., Professional Credentials Exchange Inc., Avaneer Health Inc., RoboMed Innovations, Embleema Inc., Coral Health Inc., PokitDok Inc., Briya Inc., Open Health Network, Labrys Inc., Tech Alchemy Limited, Cubix Corporation, SoluLab Inc., EncrypGen Inc., Clinicoin Inc., BlockPill Inc., DNAtix Ltd.

Technology Advancements Redefining The Landscape Of Blockchain In Healthcare
The advancements in technology are significantly shaping the blockchain in healthcare market. As there is a growing demand for blockchain technology, the key players operating in blockchain in the healthcare market are focusing on developing advanced technological solutions for the healthcare industry to strengthen their position in the market. For instance, in May 2021, Nebula Genomics, a US-based privacy-focused personal genomics service company launched the world's first genomic NFT - blockchain. The NFT is a unique and irreplaceable representation of a digital or physical object and the human genome which provides an exciting opportunity for an NFT.

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Key Segments -
The block chain in healthcare market covered in this report is segmented -
1) By Type: Permission Blockchains, Permissionless Blockchains
2) By Deployment Type: On-Premise, Cloud-Based
3) By Application: Supply Chain Management, Clinical Data Exchange And Interoperability, Claims Adjudication And Billing Management, Other Applications
4) By End User: Healthcare Providers, Pharmaceutical Companies, Healthcare Payers, Other End-Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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