Blockchain technology in healthcare market to hit USD 1,029.18B

The “Global blockchain technology in healthcare market analysis & forecast to 2024-2034: Market by network type; by application; by end-user; and by region” report has been added to ResearchAndMarkets.com’s offering.

Significant market research has been conducted on the rapidly expanding realm of blockchain technology in the healthcare sector, revealing a promising future. The comprehensive study delves into the global blockchain technology in healthcare market’s evolution and provides an in-depth forecast for the period of 2024-2034.

Transformational growth predicted for blockchain in healthcare
The market for blockchain technology within the healthcare industry is projected to experience transformational growth, with estimates showcasing a surge from USD 3.33 billion in 2023 to an impressive USD 1,029.18 billion by 2034. At a staggering CAGR of 68.41%, this expansion is fueled by critical drivers including advancements in information security, demand for improved healthcare data management, and the ongoing battle against drug falsification.

Market dynamics: Network types and applications
The analysis dives into various segments of the market, with public networks capturing considerable revenue share due to their cost-effectiveness and expansive data access capabilities, like the widespread deployment of Ethereum in healthcare settings. However, private networks are anticipated to exhibit the most rapid growth, propelled by the demand for secure supply chain management and technological advancements.

Supply chain management stands out as a significant application segment, driven by the escalating fight against drug counterfeiting and the incorporation of IoT interoperability. Yet, clinical trials and eConsent are poised to grow at a swift pace, underpinned by an uptrend in blockchain adoption for data security and integrity.

Focal point on end-users
Biopharmaceutical and medical device companies are leading the charge as the primary end-users, leveraging blockchain for various critical operations, from ensuring compliance with supply chain regulations to enhancing the transparency of clinical trials. Hospitals are also embracing the technology in record numbers, prioritizing patient data security and system efficiency. Research and Markets