Blockchain in healthcare market to reach $ 7308.32M by 2028

Verified Market Research recently published a report, “Blockchain In Healthcare Market” by end-user (Pharmaceutical companies, healthcare payers, healthcare providers), by application (Clinical data exchange and interoperability, supply chain management), and by geography. According to Verified Market Research, the global blockchain in healthcare market size was valued at USD 1497.28 Million in 2020 and is projected to reach USD 7308.32 Million by 2028, growing at a CAGR of 76.30% from 2021 to 2028.

Global blockchain in healthcare market overview
The increasing incidence of leaked information and data breaches, the growth of unproductive healthcare database systems, the execution of block as a service (BaaS), and the increasing need for the clear and irreversible distributed ledger are propelling the development of the blockchain in healthcare market. Implementing blockchain solves definite issues, including providing efficient data sharing among healthcare providers, which influences the chances of official diagnosis, appropriate treatment, and health providers’ overall capacity to deliver cost-effective treatment.

A lack of knowledge about the importance of blockchain in the healthcare sector, as well as a lack of supply of educated professionals, inhibit overall growth. The majority of BlockChain applications are used for the BFSI sector, and people just lack adequate knowledge and understanding of these applications, which leads to negative effects on market development. Increasing government approaches, increased investments in the development of more effective healthcare record systems, and enhanced concern about client privacy are all creating opportunities for the market to grow over the forecasted period.

Key developments
In 2018, Microsoft, Viant, and GSK established the Viant Blockchain Programme to encourage the implementation of a Blockchain-based supply chain in multiple verticals, including the healthcare sector.

Key Players
The major players in the market are IBM, GEM, Patientory, Factom, PokitDok, Medical Chain, BlockPharma, Microsoft Corp, Slove LLC, Hashed Health.

Verified Market Research has segmented the global blockchain in healthcare market on the basis of end-user, application, and geography.

• Blockchain in healthcare market, by end-user
  • Pharmaceutical Companies
  • Healthcare payers
  • Healthcare providers
  • Others

• Blockchain in healthcare market, by application
  • Clinical data exchange and interoperability
  • Supply chain management
  • Others
• Blockchain in healthcare market by geography
  • North America
    • U.S
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • ROW
    • Africa
    • Latin America

  Verified Market Research