Blockchain in Healthcare Market Set to Surge to $16.30 Billion by 2031 at a 40.8% CAGR

The global blockchain in healthcare market was valued at $531.19 million in 2021 and is projected to reach $16.30 billion by 2031, growing at a CAGR of 40.8% from 2022 to 2031. Blockchain technology is revolutionizing the healthcare industry by enhancing data security, improving supply chain management, and facilitating seamless data exchange among stakeholders.

Get Sample PDF Copy: https://www.alliedmarketresearch.com/request-sample/A10259

Blockchain in Healthcare Market Segmentation
The blockchain in healthcare market is segmented based on type, application, and end user.
1. By Type:
◦ Public: Open networks accessible to anyone.
◦ Private: Restricted networks with controlled access, further divided into consortium and fully private subtypes.
2. By Application:
◦ Supply Chain Management: Tracking pharmaceuticals to prevent counterfeiting.
◦ Data Exchange & Interoperability: Secure sharing of patient data among healthcare providers.
◦ Claims Adjudication & Billing Management: Streamlining billing processes and reducing fraud.
◦ Others: Additional applications such as clinical trials and patient consent management.
3. By End User:
◦ Pharmaceutical & Medical Device Companies: Ensuring product authenticity and compliance.
◦ Healthcare Payers: Insurance companies managing claims and payments.
◦ Healthcare Providers: Hospitals and clinics focusing on patient data management.

Have Any Query? Ask Our Experts: https://www.alliedmarketresearch.com/purchase-enquiry/A10259

Blockchain in Healthcare Market Statistics
• Type Segment: In 2021, the public segment dominated the market due to its open-ended nature. The private segment is expected to witness the highest CAGR of 41.2% during the forecast period, attributed to enhanced data safety and efficiency.

• Application Segment: Supply chain management led the market in 2021, driven by its adoption in pharmacies. The data exchange & interoperability segment is anticipated to experience the highest CAGR of 41.4%, owing to the increasing need for secure patient data exchange.

• End User Segment: Pharmaceutical & medical device companies held the largest market share in 2021, with revenues of $241.85 million, due to the shift from traditional systems to blockchain. The healthcare payers segment is projected to grow at a CAGR of 41.4%, driven by the need for efficient data tracking and sharing.

Blockchain in Healthcare Market Growth Factors
Several factors contribute to the rapid growth of the blockchain in healthcare market:
1. Data Security Concerns: The increasing incidence of data breaches in healthcare has heightened the demand for secure data management solutions. Blockchain's decentralized and immutable ledger offers robust protection against unauthorized access and tampering.
2. Counterfeit Drug Prevention: The proliferation of counterfeit drugs poses significant risks to patient safety. Blockchain enables end-to-end traceability in the pharmaceutical supply chain, ensuring the authenticity of drugs from manufacturers to consumers.
3. Regulatory Compliance: Governments and regulatory bodies are increasingly mandating stringent data management and security standards. Blockchain facilitates compliance by providing transparent and verifiable records of transactions and data exchanges.
4. Operational Efficiency: Blockchain streamlines administrative processes such as billing and claims adjudication, reducing errors and fraud. Smart contracts automate workflows, enhancing efficiency and reducing operational costs.

Regional Insights
North America accounted for the majority of the global blockchain in healthcare market share in 2021, driven by technological advancements, integration of advanced technologies, presence of key players, and robust infrastructure. Asia-Pacific is anticipated to witness notable growth due to rising data breaches, development of healthcare infrastructure, and increased investment projects in the region.

Key Players in the Blockchain in Healthcare Market
Prominent companies operating in the blockchain in healthcare market include:
• Akiri, Inc.
• Avaneer Health, Inc.
• BurstIQ
• Crystalchain
• Change Healthcare, Inc.
• Chronicled
• Equideum Health
• Embleema
• Farma Trust
• Guardtime
• Hashed Health
• International Business Machines Corporation (IBM)
• iSolve, LLC
• Medical Chain SA
• Oracle Corporation
• Patientory, Inc.
• Proof.Works
These key players are at the forefront of integrating blockchain technology into healthcare systems, driving innovation, and setting industry standards.

The blockchain in healthcare market is experiencing significant growth, propelled by the need for enhanced data security, efficient supply chain management, and improved interoperability among healthcare providers. As the industry continues to evolve, blockchain technology is poised to play a pivotal role in transforming healthcare operations, ensuring data integrity, and fostering trust among stakeholders.

Procure Complete Report Here: https://www.alliedmarketresearch.com/checkout-final/38ec3510a381b447a854653aa4ba0deb

Thanks for reading this article; you can also get an individual chapter-wise sections or region-wise report versions like North America, LATAM, Europe, or Southeast Asia.

Contact Us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.