DUBLIN–(BUSINESS WIRE)–The “Blockchain Technology in Healthcare Market Size, Share, and Trend Analysis Report by Network Type, by Application (Clinical Data Exchange and Interoperability, Claims Resolution, and Billing ), by end-user, by region and segment forecast, 2022-2030″ the report has been added to from ResearchAndMarkets.com offer.
The global blockchain technology in healthcare market size is expected to reach USD 126 billion by 2030. The market is expected to grow at a lucrative CAGR of 68.1% from 2022 to 2030.
The growing need to prevent drug counterfeiting coupled with the demand for effective clinical data management is expected to drive the market growth. Moreover, technological advancements and untapped opportunities in the healthcare sector are some of the major factors leading to the adoption of technology.
In January 2022, Avaneer Health, Inc., which specializes in blockchain, cloud and containerization technologies, received $50 million in seed funding that allowed it to invest in talent and technology to strengthen its market position. The company was founded in 2020 by a consortium of industry leaders including IBM, The PNC Financial Services Group, Inc., Aetna, Anthem, Sentara Healthcare and others.
The COVID-19 pandemic has accelerated the awareness and adoption of blockchain technology for a variety of healthcare applications. In fact, according to key findings released by the OECD in December 2020, blockchain-enabled tools have been increasingly used to fight the pandemic. Some use cases included an identity management system developed in South Korea in support of contact tracing and a system to support the sharing of software code and data for research purposes.
Blockchain has also been used or proposed to help manage the supply chain of medical supplies, drugs, and future vaccines. It can be used to ensure supplier credibility as a possible technology solution and to track shipments. These factors are estimated to propel the growth of the market in the future. Blockchain technology has developed at a rapid pace over the past few years. Technology has been used by large corporations to maximize profits and reduce costs.
The pharmaceutical industry is just one part of the overall healthcare ecosystem that is vigorously exploring blockchain use cases, and many ideas already have proof-of-concept implementation. Technology has the ability to effectively improve patient care, while keeping costs reasonable. Obstacles and challenges that arise in multi-level authentication can also be eliminated through the adoption of blockchain. Moreover, with the growing adoption, the technology has made its way to the healthcare sector. Even in its infancy, the technology is accepted by people and companies in the healthcare ecosystem
Highlights of Blockchain Technology in Healthcare Report
Blockchain technology in healthcare market was valued at USD 1.19 billion in 2021 and is expected to grow at a CAGR of 68.1% during the forecast period.
Biopharmaceutical and medical device companies accounted for the largest market share in the end-use segment in 2021.
The supply chain management segment held more than 25% market share, in terms of application, in 2021.
The clinical data exchange and blockchain technology interoperability segment in the healthcare market is expected to grow at a considerable CAGR during the forecast period.
Clinical data exchange and interoperability are among the most vulnerable processes impacted by huge data breaches and drug counterfeiting. For example, according to the Health Research Funding Organization (HRFO), in 2017 nearly 10-30% of drugs in emerging countries were non-original, representing a huge market for counterfeit drugs. . The US healthcare industry, in 2017, suffered a loss of approximately $200 billion per year, due to counterfeiting issues.
The public segment led the market in terms of network type, in 2021.
Europe held the top market share by region in 2021, which is attributed to an increase in the incidence of data breaches, supportive government policies, favorable reimbursement schemes, increased awareness and an increase in the number of training programs.
Main topics covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Blockchain Technology in Healthcare Market Variables, Trends and Scope
3.1 Market Lineage Prospects
3.1.1. Parent Market Outlook
3.1.2. Related/auxiliary market outlook
3.2. Mapping penetration and growth prospects, 2021
3.3 Blockchain Technology in Healthcare Market Dynamics
3.3.1 Market Driver Analysis
3.3.2 Market Restraint Analysis
3.3.3. Analysis of market opportunities
3.3.4. Analysis of market challenges
3.4 Blockchain Technology in Healthcare Market Analysis Tools: Porter’s
3.5 Blockchain Technology in Healthcare-PEST Industry Analysis (Political & Legal, Economic, Social & Technological)
Chapter 4 COVID-19 Impact Analysis
4.3. Business impact
Chapter 5 Blockchain Technology in Healthcare Market: Segment Analysis, by Network Type, 2017-2030 (USD Million)
Chapter 6 Blockchain Technology in Healthcare Market: Segment Analysis, by Application, 2017-2030 (USD Million)
Chapter 7 Blockchain Technology in Healthcare Market: Segment Analysis, by End-User, 2017-2030 (USD Million)
Chapter 8 Blockchain Technology in Healthcare Market: Regional Market Analysis 2017-2030 (Million USD)
Chapter 9 Competitive Analysis of Blockchain Technology in Healthcare Market
Chapter 10 Blockchain Technology in Healthcare Market- Company Profiles
For more information on this report visit https://www.researchandmarkets.com/r/btblgm