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Comprehensive 2025 Block Chain In Healthcare Market Overview: Trends, Forecasts, and Growth Drivers
Block Chain In Healthcare
What Is the Expected CAGR for the Block Chain In Healthcare Market Through 2025?
The market size for blockchain in healthcare has seen rapid expansion in the past few years, with anticipated growth from $2.23 billion in 2024 to $3.04 billion in 2025, marking a 36.4% compound annual growth rate (CAGR). Factors such as interoperability issues, fraud prevention measures, patient enablement, clinical examinations and research, and unchangeable record maintenance have contributed to the growth observed over the historical period.
What's the Projected Size of the Global Block Chain In Healthcare Market by 2029?
The size of the blockchain in healthcare market is anticipated to experience tremendous expansion in the coming years. This expansion is projected to reach $11.04 billion by 2029, with a compound annual growth rate (CAGR) of 38.0%. The growth during the forecast period can be tied to the tokenization of healthcare assets, decentralized clinical trials, personalized medicine, cross-border healthcare transactions, and consent management. Key trends during this forecast period will include the advancement of personalized medicine, improved cybersecurity protections, the emergence of privacy-preserving technologies, the melding with artificial intelligence, and the rise of blockchain consortia in the healthcare sector.
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Top Growth Drivers in the Block Chain In Healthcare Industry: What's Accelerating the Market?
The upsurge in the use of blockchain as a service (BaaS) is anticipated to be a significant catalyst for the expansion of the blockchain in healthcare market. Blockchain can offer novel resolutions to a plethora of obstacles plaguing the healthcare industry, ranging from supply chain management, secure contracts, safeguarding sensitive health data, addressing technical hitches in data management, facilitating alternate payment schemes, to tracking virus outbreaks. For example, Emarketer, a market research subsidiary based in New York, reported in October 2023 that about 38% of US working population revealed that blockchain technology was prevalently employed within their corporations according to a survey by EY in February 2023. While 18% of people surveyed expected a period longer than three years for extensive implementation of the technology in their firm, an additional 44% foresaw its comprehensive use within a timeframe of three years.
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What Trends Will Shape the Block Chain In Healthcare Market Through 2029 and Beyond?
Leading firms in the blockchain in healthcare market are zeroing in on strategic alliances for contract oversight in the healthcare sector. For example, in July 2023, Baptist Health, an American home health care provider, allied with MediLedger, a US pharmaceutical manufacturer, to usher in a new age of contract governance in healthcare. They plan to leverage MediLedger's blockchain capabilities for a reliable pharmaceutical pricing system across its network of nine hospitals. Serving over 400 buyer locations and offering a wide array of products, the hospital chain intends to upgrade its communication process and guarantee punctual delivery of negotiated prices, thereby improving transparency and efficiency in its procurement operations.
What Are the Main Segments in the Block Chain In Healthcare Market?
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
Subsegments:
1) By Permission Blockchains: Consortium Blockchains, Private Blockchains, Federated Blockchains
2) By Permissionless Blockchains: Public Blockchains, Open Source Blockchains, Decentralized Autonomous Organizations (DAOs)
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Which Top Companies are Driving Growth in the Block Chain In Healthcare Market?
Major companies operating in the block chain 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., 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.
Which Regions Will Dominate the Block Chain In Healthcare Market Through 2029?
North America was the largest region in the blockchain in healthcare market in 2024. The regions covered in the block chain in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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