What is the global market size of Blockchain in Healthcare Market?

Global Blockchain in Healthcare Market size was valued at USD 1.97 Billion in 2022 and is poised to grow from USD 3.32 Billion in 2023 to USD 214.56 Billion by 2031, growing at a CAGR of 68.40% in the forecast period (2024-2031).

Who are the key vendors in the Global Blockchain in Healthcare Market?

Global pharmaceutical company Pfizer has teamed up with blockchain technology company. Chronicled to develop a blockchain-based system to track prescription drug dispensing This strategic partnership offers the Chronicled Mediledger network, a blockchain platform designed for pharmaceuticals the project increases supply chain transparency, counterfeit to drugs, and ensures compliance with regulatory requirements. Blockchain-based systems enable secure and transparent tracking of prescriptions throughout the supply chain, from manufacturing to delivery to pharmacies, reducing risk on counterfeit drugs and enhance patient safety. 'IBM', 'PATIENTORY INC.', 'Guardtime', 'iSolve, LLC', 'Solve.Care', 'Oracle', 'Change Healthcare', 'BurstIQ', 'Medicalchain SA', 'Blockpharma', 'Gem', 'Hashed Health', 'Factom Inc.', 'PokitDok Inc.'

What is the key driver of Global Blockchain in Healthcare Market?

Over the years, data breaches in the healthcare industry have skyrocketed. The magnitude and frequency of health data breaches increased over the past five years, with large-scale breaches affecting 80 million people (about twice the population of California). Health data breaches typically reflect high-sensitivity issues, from personally identifiable information such as Social Security numbers, names and addresses.

What is the key market trend for Global Blockchain in Healthcare Market?

Rising Government Services: Blockchain technology is emerging as a viable solution in the healthcare industry. Many startups have started solving major pain points in the healthcare industry (such as interoperability of medical records, data security, and preventing counterfeit drugs from entering the pharmaceutical industry) with the help of blockchain technology in the last few years. Technology has attracted the attention of various stakeholders in the healthcare industry. Due to increased interest in this technology, government agencies around the world are investing in blockchain to conduct the same research.

Which region accounted for the largest share in Global Blockchain in Healthcare Market?

North America had the largest share in the global blockchain in healthcare market. Growing North America healthcare blockchain market with local enforcement laws related to patient data security, improved quality of care, increased fraudulent activities in healthcare sector, need to reduce healthcare costs an increased on, and increased protection from alteration of medical information Increased importance.

Blockchain In Healthcare Companies

Blockchain in Healthcare Market Competitive Landscape

Blockchain in Healthcare Market Top Player’s Company Profiles

IBM (US)
Microsoft (US)
Accenture (Ireland)
Guardtime (Estonia)
Hashed Health (US)
Patientory (US)
Factom (US)
Chronicled (US)
SimplyVital Health (US)
Blockpharma (France)
Tierion (US)
MedRec (US)
BurstIQ (US)
Nebula Genomics (US)
Blockchain Health Co. (US)
Medicalchain (UK)
GuardChain (US)
Solve.Care (Estonia)
HIVE Blockchain Technologies Ltd. (Canada)
Encrypgen (US)
Sana Benefits (US)
Healthereum (US)
Patientory (US)

Blockchain in Healthcare Market

FAQs

Global Blockchain Technology in Healthcare Market size was valued at USD 1.88 Billion in 2022 and is poised to grow from USD 3.16 Billion in 2023 to USD 203.40 Billion by 2031, growing at a CAGR of 68.30% during the forecast period (2024-2031).

The Global Blockchain Technology in Healthcare Market is experiencing significant growth and is expected to continue its upward trajectory. Blockchain technology offers various benefits to the healthcare industry, including enhanced data security, interoperability, transparency, and streamlined processes. The market is witnessing the emergence of several key players who are actively investing in research and development to harness the potential of blockchain in healthcare. Companies such as IBM Corporation, Microsoft Corporation, Accenture, Change Healthcare, and Guardtime are leading the way with their innovative blockchain solutions and strategic partnerships. These players are focused on developing secure and scalable blockchain platforms, collaborating with healthcare organizations to implement blockchain solutions, and driving industry-wide adoption. The competitive landscape in the market is characterized by intense competition, with companies aiming to differentiate themselves through technological advancements, strategic alliances, and product offerings that cater to the unique needs of healthcare stakeholders. 'IBM (US) ', 'Microsoft (US) ', 'Accenture (Ireland) ', 'Guardtime (Estonia) ', 'Hashed Health (US) ', 'Patientory (US) ', 'Factom (US) ', 'Chronicled (US) ', 'SimplyVital Health (US) ', 'Blockpharma (France) ', 'Tierion (US) ', 'MedRec (US) ', 'BurstIQ (US) ', 'Nebula Genomics (US) ', 'Blockchain Health Co. (US) ', 'Medicalchain (UK) ', 'GuardChain (US) ', 'Solve.Care (Estonia) ', 'HIVE Blockchain Technologies Ltd. (Canada) ', 'Encrypgen (US) ', 'Sana Benefits (US) ', 'Healthereum (US) ', 'Patientory (US)'

Supply Chain Management: Blockchain technology is increasingly being adopted to enhance supply chain management in the healthcare industry. It allows end-to-end visibility and traceability of pharmaceuticals, medical devices, and other healthcare products. Blockchain enables tracking the provenance, quality, and authenticity of products, reducing the risk of counterfeit drugs and improving patient safety.

The dominating region in the global blockchain technology in the healthcare market is North America. With its advanced technological infrastructure and a strong focus on healthcare innovation, North America has emerged as the leader in adopting blockchain solutions. The region's dominance can be attributed to several factors. Firstly, the presence of key market players, including established tech giants and innovative startups, has fostered a thriving ecosystem for blockchain technology in healthcare. Secondly, stringent regulatory frameworks in the healthcare industry have led to increased demand for secure and transparent data management solutions, making blockchain an ideal choice. Lastly, the region's robust investment in research and development activities has propelled the adoption of blockchain technology in healthcare, paving the way for transformative advancements.

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What is the global market size of Blockchain in Healthcare Market?

Who are the key vendors in the Blockchain in Healthcare Market?

What is the key driver of Blockchain in Healthcare Market?

What is the key market trend for Blockchain in Healthcare Market?

Which region accounted for the largest share in Blockchain in Healthcare Market?

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