Blockchain Technology in Healthcare Market Is Expected to Reach $16.30 Billion by 2031

Portland, OR – According to the report published by Allied Market Research, the global Blockchain Technology in Healthcare Market generated $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. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.

Report coverage & details:

COVID-19 Scenario:

• The outbreak of COVID-19 had a positive impact on the growth of the global blockchain technology in healthcare market, owing to the accelerated use of cutting-edge technologies such as blockchain in the healthcare industry.
• The demand for healthcare surge exponentially as more and more people across the globe were increasingly getting infected from the deadly virus, and hence various healthcare facilities in several nations made effective use of blockchain technology. This was carried out to significantly enhance efficient resource and operation planning.
• Besides, a huge number of clinics and hospitals across the globe were restructured to increase hospital capacity for patients diagnosed with COVID-19, which subsequently boosted the demand for blockchain technology in healthcare.
• A powerful tracking system was also developed by various players of the market to stop the spread of false information.
• Therefore, COVID-19 has had a positive impact on the market.

The report provides a detailed segmentation of the global blockchain technology in healthcare market based on type, application, end user, and region.

Based on type, the public segment held the largest market share in 2021, holding more than half of the global market. The private segment, on the other hand, is expected to cite the fastest CAGR of 41.2% during the forecast period. In addition, the same segment is expected to maintain its leadership status during the forecast period.

Based on application, the supply chain management segment held the dominating market share in 2021, holding nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The data exchange and interoperability segment, on the other hand, is expected to cite the fastest CAGR of 41.4% during the forecast period.

Based on end user, the pharmaceutical and medical device companies segment held the largest market share in 2021, holding more than two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The healthcare payers segment, on the other hand, is expected to cite the fastest CAGR of 41.5% during the forecast period.

Based on region, the market across North America held the largest market share in 2021, garnering more than two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 41.9% during the forecast period. The report also analyses other regions such as Europe and LAMEA.

The key players analzyed in the global blockchain technology in healthcare market include Embleema, Farma Trust, Guardtime, Hashed Health, International Business Machines Corporation (IBM), iSolve, LLC, Medical Chain SA, Oracle Corporation, Akiri, Inc., Avaneer health, Inc., BurstIQ, Crystalchain, Change Healthcare, Inc., Chronicled, Equideum Health, Patientory, Inc., and Proof.Works.

The report analyzes these key players of the global blockchain technology market. These market players have made remarkable use of effective strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to strengthen their foothold and prowess in the industry. These players also tend to enhance their competitive edge in the market with the help of these rigorous strategies. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players of the market.

Source: Allied Market Research