Portland, OR, Aug. 18, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, Blockchain technology in the healthcare sector generated USD 531.19 million in 2021, and is projected to reach USD 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, developing market trends , market size and estimates, value chain, key investment pockets, drivers and opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders when it comes to introducing necessary strategies for the future and taking essential steps to significantly strengthen and raise their position in the market.
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Report coverage and details:
| Report coverage | Details |
| Forecast period | 2022–2031 |
| Foundation year | 2021 |
| Market size in 2021 | 531.19 million dollars |
| Market size in 2031 | 16.30 billion dollars |
| CAGR | 40.8% |
| Number of pages in the report | 302 |
COVID-19 scenario:
- The outbreak of COVID-19 had a positive impact on the growth of the global blockchain technology in the healthcare sector, due to the accelerated adoption of cutting-edge technologies such as blockchain in the healthcare sector.
- The demand for healthcare services is increasing exponentially as more and more people across the globe were increasingly infected by the deadly virus, and therefore various healthcare services in several nations made effective use of blockchain technology. This was done to significantly improve effective resource and operational planning.
- Also, a large number of clinics and hospitals around the world were restructured to increase hospital capacity for patients diagnosed with COVID-19, which subsequently increased the demand for blockchain technology in healthcare.
- A powerful tracking system was also developed by various players in the market to stop the spread of false information.
- Therefore, COVID-19 has had a positive impact on the market.
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The report provides a detailed segmentation of the global blockchain technology in the healthcare sector based on type, application, end user and region.
Based on type, the public sector segment held the largest market share in 2021, accounting for more than half of the global market. The private segment, on the other hand, is expected to quote 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 dominant market share in 2021, accounting for 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 quote the fastest CAGR of 41.4% during the forecast period.
Based on end-user, the pharmaceutical and medical devices segment held the largest market share in 2021, accounting for more than two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The healthcare payer segment, on the other hand, is expected to quote 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, accounting for 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 analyzes other regions such as Europe and LAMEA.
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The key players analyzed in the global blockchain technology in healthcare industry 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 in 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 increase their competitive edge in the market with the help of these rigorous strategies. The report is useful for analyzing recent developments, product portfolio, business performance and operating segments of prominent players in the market.
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