Press release
Blockchain in Healthcare Market: Exponential Growth and Potential of $11.04 billion by 2029, Driven by Implementation of Advanced Technologies and Innovative Solutions
Blockchain in Healthcare Market
Riding the Wave of Interoperability and Fraud Prevention, the Blockchain in Healthcare Market Size is Set to Grow Exponentially
What Is The Projected Market Size Of The Global Blockchain In Healthcare Market And Its Growth Rate?
• The blockchain in healthcare market will grow from $2.23 billion in 2024 to $3.04 billion in 2025 at a compound annual growth rate (CAGR) of 36.4%. This growth can be attributed to interoperability challenges, fraud prevention, patient empowerment, clinical trials and research, and immutable record keeping.
• The sector is predicted to see further expansion, growing to $11.04 billion in 2029 at a CAGR of 38.0%. Major contributing factors during this forecast period include tokenization of healthcare assets, decentralized clinical trials, personalized medicine, cross-border healthcare transactions, and consent management.
What Is Driving The Growth In The Blockchain In Healthcare Market?
Factors such as the growing adoption of blockchain as a service (BaaS) are driving the blockchain in healthcare market's growth. The technology offers innovative solutions to problems in the healthcare industry like supply chain management, smart contracts, personal health information confidentiality, data management technical issues, enabling alternative payment models, and virus outbreak tracking. For instance, a February 2023 poll by EY revealed over a third (38%) of US workers' firms commonly use blockchain technology.
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Who Are The Key Players Driving Blockchain In Healthcare Market Growth?
Major players in the blockchain in healthcare market include:
• 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.
What Are The Key Trends In The Blockchain In Healthcare Market?
Key trends in the forecast period include:
• Advances in personalized medicine
• Enhanced cybersecurity measures
• Rise of privacy-preserving technologies
• Integration with artificial intelligence
• Blockchain consortia in healthcare
What Are The Segments Of The Global Blockchain In Healthcare Market?
Major segments of the blockchain in healthcare market are:
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
Which Region Leads The Blockchain In Healthcare Market?
North America was the largest region in the blockchain in healthcare market in 2024, covering areas such as Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Blockchain In Healthcare Market Global Market Report?
• Market Size Analysis: Analyze the Blockchain In Healthcare Market size by key regions, countries, product types, and applications.
• Market Segmentation Analysis: Identify various subsegments within the Blockchain In Healthcare Market for effective categorization.
• Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
• Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
• Market Contribution: Evaluate contributions of different segments to the overall Blockchain In Healthcare Market growth.
• Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
• Industry Challenges: Analyze challenges and risks affecting the Blockchain In Healthcare Market.
• Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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