WASHINGTON, Oct. 10 2022 (GLOBE NEWSWIRE) — The latest research study offers a comprehensive analysis of the Blockchain in Healthcare Market for the forecast year 2022-2028, which is valuable to businesses regardless of size or revenue level. This research report provides important market insights and industry approaches for COVID-19 (Omicron) in the coming years. (Omicron) The Blockchain in Healthcare market report offers data and information on the growth in the investment structure, technological advancements, market trends and developments, capabilities and detailed information on the leading competitors operating in this market. The study also includes a list of the global marketing strategies that have been implemented, considering the current and expected future of the sector.
The Global Blockchain in Healthcare Market was valued at USD 287.9 million in 2021 and is projected to surpass the valuation of USD 1,189.8 million by 2028 at a CAGR of 61.3% during the forecast period 2022-2028.
The research begins with a condensed presentation and high-level overview of the Blockchain in Healthcare Market, including topics such as the current market landscape, market trends, major market players, product type, application, and geography. Additionally, it discusses the impact that COVID-19 (Omicron) has had on trends, future predictions, growth potential, end-user industries, and market competitors in the worldwide Blockchain in Healthcare market. In addition, it offers historical data, an analysis of the current market situation and forecasts for the Blockchain in Healthcare market. This analysis presents a complete knowledge of the market value of Blockchain in Healthcare by providing information on product price, demand, gross margin and supply.
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- Comprehensive industry analysis, introduction, summary and COVID-19 pandemic outbreak.
- Impact analysis of more than 160 pages (including the latest research)
- Provide chapter-wise guidance on request 2021 updated regional analysis with graphical representation of trends, size and market share; Includes updated tables and figures.
- By using the methodology of Vantage Market Researchthe report has been updated to include sales volume, business strategy and revenue analysis of the major market players.
List of prominent players in Blockchain in the healthcare sector:
- IBM Corporation
- Microsoft Corporation
- Save
- Patientory Inc.
- Guardtime Federal
- Hashed health
Blockchain in the healthcare sector is segmented as below:
Application (clinical data exchange, billing and claims management, supply chain management, adjudication).
Market dynamics:
Increasing cases of data breaches in the healthcare system
It has been observed that the incidence of data breaches has increased significantly in the healthcare sector. Healthcare breaches often expose highly sensitive information, from personally identifiable information such as social security numbers, numbers and addresses to sensitive healthcare data such as Medicaid ID numbers, health insurance information, as well as patient medical history. Today, governments in various countries are focusing on digitizing healthcare and related industries, as it increases patient engagement and enables better predictions. In addition, the US and UK governments have made huge investments to ensure that all health records are digitized. These are factors that increase the demand for Blockchain in the healthcare sector.
Increasing use of blockchain to stimulate market growth
The growing preference for public blockchain systems that offer various advantages such as greater transparency, offer decentralized structure. This blockchain system is used to manage health data efficiently. The digital ledger technology and Ethereum are widely used blockchain systems in healthcare. The digital ledger technology is secure, provides a high degree of transparency thereby eliminating the need for a third party custodian. In addition, cost-effectiveness in the implementation of public blockchain technology in the healthcare system is an important factor that is expected to have higher market growth. With this, high standard of security protocols with anonymous nature are factors expected to compliment the market growth.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments around the world implemented strict lockdown measures and social distancing norms to limit the rapid spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. In addition, the economic crisis following the pandemic may lead to a significant delay in the commercial rollout of the healthcare sector. SMEs are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Therefore, market players faced a number of challenges as supply chain disruptions were observed. However, things will improve in the second half of 2022 as more supplies come online. The impact of COVID-19 on market demand is assessed while estimating the current and projected market size and market growth trends for all regions and countries based on the following data points:
- Consequence analysis of the COVID-19 pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
- Quarterly market revenue forecast of Asia Pacific 2020 and 2021
- Key strategies implemented by companies to tackle covid-19
- Long-term dynamics
- Short-term dynamics
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The report on Blockchain in Healthcare Market highlights:
- Assessment of the market
- Premium Insights
- Challenging landscape
- COVID Impact Analysis
- Historical data, estimates and forecasts
- Company Profiles
- Global and regional dynamics
Regional analysis:
Europe dominates the global blockchain in the healthcare sector
Europe held the largest market share in 2021. This is due to various recent advancements in blockchain technology combined with several government initiatives supporting the adoption of innovative platforms in the healthcare sector. Companies operating in North America mainly focus on the development of blockchain technology solutions to ensure the security of health data as well as complete and up-to-date information about the patient’s health and health activity.
Browse market data Tables and figures spread across 163 pages and in-depth table of contents on “Blockchain in Healthcare by Application (Clinical Data Exchange, Billing and Claims Management, Supply Chain Management, Decision Making), by Region (North America, Latin America, Europe, Asia Pacific) – Global Industry Assessment (2016–2021) and Forecast (2022–2028)”.
Recent developments:
January 2022: Blockchain technology has the potential to revolutionize healthcare, the same technology that powers Bitcoin and other cryptocurrencies is finding revolutionary new applications in the healthcare sector. Recently, Aetna, Anthem and Cleveland Clinic partnered to announce a new blockchain-based healthcare initiative, marking the latest indication of the potential impact blockchain could have on the healthcare industry as a whole.
December 2021: IBM Digital Health Pass integrates with healthcare IT managers. Sound return practices for providing COVID-19 digital ID. IBM Digital Health Pass is designed to enable organizations to verify the COVID-19 test results or vaccination status of employees, customers and visitors entering their site, such as a sports stadium, an airplane, a university, a public building or a workplace. Based on a combination of encryption, QR codes and blockchain technology, the IBM Digital Health Pass is a secure, voluntary digital alternative to paper test results or vaccination cards and provides another option, if needed, for individuals to share that they have tested negative or been vaccinated for covid-19.
Important questions answered by this blockchain in the healthcare sector:
- What is Blockchain in healthcare?
- How big is Blockchain in the healthcare sector?
- What is Blockchain used in health products for?
- Who are the key players in the Blockchain in Healthcare market?
- What is the scope of Blockchain in Healthcare market growth?
- What are the key trends in the Blockchain in Healthcare market report?
- What is the core strategy for the growth of the Blockchain in Healthcare market?
- Which base year is calculated in the Blockchain in Healthcare market report?
- How will the blockchain in the healthcare sector change in the next six years?
- What are the risks associated with investing in the Blockchain in Healthcare market?
- Which regional Blockchain in Healthcare market will show the highest and fastest growth?
- What are the key opportunities for growth in the Blockchain in Healthcare market?
- What are the key strategies of key players in the Blockchain in Healthcare market?
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This market titled “Blockchain in Healthcare Market” will cover exclusive information in terms of regional analysis, forecast and quantitative data – units, key market trends and various others as mentioned below:
| Report attribute | Details |
| Market size in 2021 | USD 287.9 million |
| Estimated market size in 2028 | USD 1,189.8 million |
| CAGR growth rate | CAGR of 61.3% from 2022-2028 |
| Foundation year | 2021 |
| Historic years | 2016–2020 |
| Forecast year | 2022–2028 |
| Segments covered | Application: – Clinical data exchange, billing management and claims, supply chain management, decision making |
| Quantitative data – units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions covered | North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa |
| Countries covered | USA, Canada, Mexico, UK, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC countries and South Africa, among others |
| Report coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attraction analysis by segment and region, market share analysis and COVID-19 impact analysis. |
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