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$10,939 Million Revenue Expected in Blockchain Technology in Healthcare Industry by 2030, with CAGR of 48.90%

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$10,939 Million Revenue Expected in Blockchain Technology in Healthcare Industry by 2030, with CAGR of 48.90%

January 11
18:26 2023
$10,939 Million Revenue Expected in Blockchain Technology in Healthcare Industry by 2030, with CAGR of 48.90%
The Asia-Pacific blockchain in healthcare industry is expected to grow with a compound annual growth rate of about 51% during the forecast period.

As per a report of P&S Intelligence, the size of blockchain technology in healthcare market was at $304.04 million in 2021, and it will propel at a rate of 48.90% by the end of this decade, to reach $10,939 million by 2030.

The growth of this industry is because of the increasing incidence of medical data breaches and snowballing implementation of IoT in the healthcare industry.

The public category was the largest because of the increasing use of public networks for managing numerous particulars. Public blockchains, including Ethereum, Bitcoin, and Monero, are popular due to the fact that they are truly democratized, decentralized and provide authority-free operation.

Download sample pages of this report: https://www.psmarketresearch.com/market-analysis/blockchain-in-healthcare-market/report-sample

The private category will grow significantly in the years to come since these alternatives offer fast transactions, privacy, and high security, and they are designed as per the needs.

Biopharma and medical device companies have the largest share due to high investments for research and development. These kinds of projects mandate the secure sharing of authentic info across numerous organizations.

Hence, the acceptance of this technology is rising for verifying the legitimacy of the returned drug, averting counterfeits from moving on to trials and, ultimately, to the market, guaranteeing transparency, compliance and traceability within the pharma supply chain and in clinical trials, and improving the dependability and eminence of the clinical trials.

This technology allows an efficient, holistic, and transparent atmosphere in which records of patients can be stored and tracked without any sort of tampering. These advantages play a big role in the pharma and healthcare industries for ensuring compliance with the regulations of the government on patient and drug data safety.

Furthermore, healthcare providers will have a steady growth in the future because of the increasing patient count and fast digitization. Here, the growing sharing of medical reports, prescriptions, and health statuses amongst medical practitioners, for fast diagnosis, will drive the acceptance of the technology considerably.

Europe was the leader of the blockchain in healthcare market, and it will consolidate its position till 2030. This is because of the existence of numerous IT vendors in the region and the fast acceptance of new technologies, aided by the presence of highly efficient infra.

Browse detailed report on Blockchain Technology in Healthcare Market Trends, Development and Demand Forecast to 2030

North America, had a considerable revenue share in the past with U.S. producing the higher revenue, growing at a rate of approximately 54.2% because of the fast acceptance of progressive technologies, also because of the of the investments done by the government for reassuring R&D. Consequently, in September 2022, there were about 182 blockchain in the U.S. healthcare startups

APAC will grow the fastest due to the large population, resulting in the formation of huge volumes of patient records, requiring protection come what may.

Due to the increasing cases of medical data breaches, the demand for the blockchain technology in healthcare will rise considerably in the future.

Global Blockchain Technology in Healthcare Market Size Breakdown by Segment

By Type

  • Private market
  • Public market
  • Others

By Application

  • Clinical Data Exchange and Interoperability
  • Claims Adjudication and Billing Management
  • Drug Supply Chain Management
  • Drug Discovery and Clinical Trials
  • Prescription Drug Abuse
  • Others

By End user

  • Biopharmaceutical & Medical Device Companies
  • Healthcare Providers
  • Healthcare Payers
  • Others

By Region

  • North America Blockchain in Healthcare Market
    • By type
    • By application
    • By end user
    • By country – U.S. and Canada
  • Europe Blockchain in Healthcare Market
    • By type
    • By application
    • By end user
    • By country – Germany, U.K., France, Italy, Spain, and Rest of Europe
  • Asia-Pacific Blockchain in Healthcare Market
    • By type
    • By application
    • By end user
    • By country – Japan, China, India, South Korea, Australia, and Rest of APAC
  • Latin America Blockchain in Healthcare Market
    • By type
    • By application
    • By end user
    • By country – Brazil, Mexico and Rest of LATAM
  • Middle East and Africa Blockchain in Healthcare Market
    • By type
    • By application
    • By end user
    • By country – Saudi Arabia, South Africa, U.A.E., and Rest of MEA

Browse More Reports:

Global Blockchain Devices Market Growth, Development and Demand Forecast to 2030

Global Internet of Things in Healthcare Market Share, Growth, Development and Future Analysis

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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