Global blockchain technology in healthcare market
Dublin, March 14, 2024 (GLOBE NEWSWIRE) — The “Global Blockchain Technology In Healthcare Market Analysis & Forecast to 2024-2034: Market Per Network Type; Per Application; Per End-user; and Per Region” report has been added to ResearchAndMarkets. com’s offer.
Significant market research has been conducted on the rapidly growing field of blockchain technology in the healthcare sector, which reveals a promising future. The comprehensive study delves into the global blockchain technology in the evolution of the healthcare market and provides an in-depth forecast for the period 2024-2034.
Transformational Growth Predicted for Blockchain in Healthcare
The blockchain technology market in the healthcare industry is expected to experience transformational growth, with estimates showing a surge from USD 3.33 billion in 2023 to an impressive USD 1,029.18 billion by 2034. At a staggering CAGR of 68.41% this expansion is fueled by critical drivers including advances in information security, demand for improved healthcare data management and the ongoing fight against drug counterfeiting.
Market Dynamics: Network Types and Applications
The analysis dives into various segments of the market, with public networks gaining significant revenue share due to their cost-effectiveness and extensive data access capabilities, such as the widespread deployment of Ethereum in healthcare settings. However, private networks are expected to show the fastest growth, driven by the demand for secure supply chain management and technological advancements.
Supply chain management stands out as a significant application segment, driven by the increasing fight against drug counterfeiting and the incorporation of IoT interoperability. Still, clinical trials and eConsent are poised to grow at a rapid pace, supported by an upward trend in blockchain adoption for data security and integrity.
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Focus point on end users
Biopharmaceutical and medical device companies are leading the charge as the primary end users, using blockchain for various critical operations, from ensuring compliance with supply chain regulations to improving the transparency of clinical trials. Hospitals are also embracing the technology in record numbers, prioritizing patient data security and system efficiency.
Geographical extent and potential
North America remains a leader in revenue generation, supported by the alignment with GDPR and partnerships such as those of InfStones and Oracle. The Asia Pacific region is not far behind, thanks to a pronounced emphasis on medical record security and increased investment in technology infrastructure, as demonstrated by innovations such as Wipro Limited’s Decentralized Identity and Trust Exchange.
Segments at a glance:
Network type: public, private, other
Application: Clinical Trials and eConsent, Supply Chain Management, and more
End User: Hospitals, Biopharmaceutical & Medical Device Companies, and beyond
Region: North America, Asia Pacific, Europe and other major markets
Detailed regional analysis and sector insights
The report further segments the market into detailed regional analyses, covering North America’s progress in blockchain adoption to Asia Pacific’s emerging blockchain advancement. European initiatives and the growth trajectory in other crucial regions such as Latin America and the Middle East and Africa are also encapsulated in this analysis.
Key features:
Report feature
Details
Number of pages
200
Forecast period
2023 – 2034
Estimated market value (USD) in 2023
$3.33 billion
Predicted market value (USD) by 2034
$1029.18 billion
Compound annual growth rate
68.4%
Covered regions
Worldwide
Report Segmentation:
By network type
By Application
Clinical Trials and eConsent
Supply chain management
Claims assessment and invoicing
Clinical data exchange and interoperability
Other
By end user
Companies profiled
Resolve. Caring
iSolve
IBM
Waiting time
Medical chain
Oracle
Blockpharma
Change health care
BurstIQ
PATIENT CARE
For more information on this report visit https://www.researchandmarkets.com/r/855vd3
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