Blockchain in Healthcare Market Size Estimated to Touch USD 95.59 Billion by 2030, with 68.4% CAGR Increase: Polaris Market Research
Polaris Market Research recently published [115+ Pages] research report on “Blockchain in Healthcare Market Share, Size, Trends, Industry Analysis Report, By End Use (Healthcare Payers, Biopharmaceutical & Medical Entities, Healthcare Professionals); By Network Type; By Application; By Region; Segment Forecast, 2022 – 2030” in its research database.
According to the research report, the global blockchain in healthcare market size and share was valued at USD 1.18 billion in 2021 and is expected to reach USD 95.59 billion by 2030growing on one CAGR of 68.4% in the forecast period.
What is Blockchain in healthcare? How Big is Blockchain in Healthcare Market Size and Share?
Blockchain in healthcare is used in healthcare to preserve and exchange patient data through hospitals, diagnostic laboratories, pharmaceutical companies and doctors. The rapidly growing demand for blockchain in the healthcare sector can be attributed to these applications identifying serious errors and even imminent errors in the medical field. This technology is useful in medical institutions to gain perspectives and improvise analysis of medical records.
The increasing cases of information leaks and data breaches, along with the ever-increasing need to curb these issues, have attributed to market growth. Conscious ingenuity by the key players escalated the demand to reduce drug replication and the requirement for systematic health data management systems are the prominent factors causing the adoption of technology.
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(The selection of this report is readily available upon request. The sample report includes a brief introduction to the research report, a table of contents, a graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
What does the report contain?
- Quantitative analysis of market segments, current trends, estimates and dynamics
- Information related to key drivers, constraints and opportunities
- Porter’s five forces analysis emphasizes the power of buyers and suppliers
- Prominent countries in each region are plotted according to the revenue contribution to the market
- Positioning of market participants facilitates benchmarking and provides an understandable recognition of the market participants’ current position
Some of the top market players are:
- Avaneer Health Inc.
- Akiri
- IncorporationBurstIQ Corporation
- Crystalchain incorporation
- Change Healthcare Incorporation.
- Equideum Health Inc.
- Emblem Corporation
- Pharma Trust
- Duty time
- Hashed health
- iSolve LLC
- IBM Incorporation
- Medical Chain Corporation
- Oracle Corporation
- Patientory Inc
- Quest Diagnostics
- Works
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Growth driving factors
- Medical examination system to push the market
According to the OECD, a modern blockchain application called research foundry has emerged to facilitate the management of consent and permission for the sharing and access of health data, software code, metadata and other products related to healthcare R&D. Healthcare-sized blockchain is growing as the increasing investment in the development of systematic health record systems, cryptography for wearable devices and medical examination systems is expected to offer this market lucrative options in the coming years.
Evolving disease prevalence is expected to generate a huge amount of data pushing the demand for data management. Blockchain sales in healthcare are increasing, as the use of blockchain technology in health records will ensure that the data cannot be altered to ensure data integrity. The increasing investment from prominent market players pushes market growth further.
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Recent developments
In January 2021, Optum, a branch of United Health Group, declared the acquisition of Change Healthcare to facilitate indispensable clinical, operational and payment procedures more flourishing. Optum will pay approximately $8 million in cash for the operation and purchase approximately $5 billion in Change Healthcare debt for an accounting valuation of $13 million.
Segment analysis
- Clinical trials and the eConsent segment are predicted to lead the market
Based on application, clinical trials and eConsent segment is expected to witness rapid growth. The clinical trial industry is driven by a wide range of blockchain technology applications to increase the quality of clinical trials. The demand for blockchain in the healthcare sector is increasing as the use of technology in clinical trials allows for more successful data processing and security. The amalgamation of technology sanctions clinicians to stay safely connected inside.
- The public market segment accounts for the highest market share
Based on network type, the public market segment accounted for the highest market share due to the growing preference for a public blockchain system that provides several benefits such as more transparency, a decentralized structure and records information, among others. This blockchain method is widely used to manage health information efficiently. Blockchain in healthcare market trends include digital ledger technology and Ethereum, a public network.
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Blockchain in Healthcare Market: Report Scope
| Report attribute | Details |
| Market outlook for 2030 | USD 95.59 billion |
| Market Size 2021 Value | USD 1.18 billion |
| Expected CAGR growth | 68.4% from 2022 – 2030 |
| Foundation year | 2021 |
| Forecast year | 2022 – 2030 |
| Top players on the market | Avaneer health, Inc., Akiri, IncorporationBurstIQ Corporation, Crystalchain Incorporation, Change Healthcare Incorporation., Equideum Health Inc., Embleema Corporation, Farma Trust, Guardtime, Hashed Health, iSolve, LLC IBM Incorporation, Medical Chain Corporation, Oracle Corporation, Patientory, Inc, Quest Diagnostics and Proof.Works |
| Segments covered | By network type, by end use, by application, by region |
| Customization options | Custom purchase options are available to meet your research needs. Explore custom purchase options |
Geographic overview
- Factors such as improving patient care to drive the North American market
North America had the most important blockchain in healthcare market share due to recent breakthroughs in blockchain technology and several government efforts inspiring the use of these modern platforms in the medical sector. Venture capitalists are witnessing massive assurances that blockchain technology will improve patient care, expand the scope of healthcare and reduce medical costs.
Browse the detail report “Blockchain in Healthcare Market Share, Size, Trends, Industry Analysis Report, By End Use (Healthcare Payers, Biopharmaceutical & Medical Entities, Healthcare Providers); By Network Type; By Application; By Region; Segment Forecast, 2022 – 2030” with detailed table of contents:
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Frequently Asked Questions
- What are the upcoming trends in the market in the world?
- What is the leading application of the market?
- Which is the largest regional market?
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- Which are the top companies with market share in healthcare blockchain technology?
Polaris Market Research has segmented the blockchain in healthcare market report based on network type, application, end user and region:
By network type Outlook
When using Outlook
- Clinical data exchange and interoperability
- Claims processing and invoicing
- Supply Chain Management
- Clinical studies and e-consent
- Second
When end use of Outlook
- Health personnel
- Health payers
- Biopharmaceutical and medical devices
- Second
By Region Outlook
- North America (USA, Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East and Africa (Saudi Arabia, UAE, Israel, South Africa)
About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across diverse businesses. We at Polaris are committed to serving our diverse customer base that is present across the industries of healthcare, technology, semiconductors and chemicals among various other industries that are present around the world. We strive to provide our clients with up-to-date information on innovative technologies, high-growth markets, emerging business environments and the latest business-centric applications, thereby helping them to always make informed decisions and exploit new opportunities. We at Polaris are skilled with a highly competent, experienced and extremely qualified team of experts consisting of SMEs, analysts and consultants, and we strive to deliver value-added business solutions to our clients.
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