Blockchain Tech In Healthcare Market Global Industry 2022


healthcare

The global Blockchain tech in the healthcare market is expected to grow significantly during the forecast period. The growth of this market can be attributed to the increasing demand for secure and transparent healthcare data exchanges. In addition, the growing number of Blockchain technology applications in the healthcare industry is also contributing to the growth of this market.

Key Players

Some of the major players operating in the global Blockchain tech in the healthcare market include IBM Corporation, Microsoft Corporation, Deloitte Touche Tohmatsu Limited, Accenture plc, and Oracle Corporation. These companies offer a wide range of Blockchain solutions for the healthcare industry, including enterprise-grade Blockchain platforms, services, and consulting. 

These companies have been providing Blockchain solutions to various healthcare organizations across the globe. In addition, they are also investing in research and development activities to strengthen their product offerings. This is expected to help them gain a stronger foothold in the global Blockchain tech in the healthcare market.

Key Drivers

  1. Increasing Demand for Secure and Efficient Healthcare Information Exchange Systems

The growth of Blockchain tech in the healthcare market can be attributed to the increasing demand for secure and efficient healthcare information exchange systems. Blockchain technology is revolutionizing how data is exchanged among different stakeholders in the healthcare industry.

  1. Reducing Administrative Costs and Improving Operational Efficiency

Another key driver for the growth of Blockchain tech in the healthcare market is the need for reducing administrative costs and improving operational efficiency. The healthcare sector can save significantly by using Blockchain technology for administrative tasks such as claim processing, billing, and contracting.

  1. Rising Trend of Cloud-Based Healthcare Services

The global Blockchain tech in the healthcare market also benefits from the rising trend of cloud-based healthcare services. Cloud-based healthcare services offer many benefits, such as enhanced security, improved scalability, and cost-efficiency. 

Key Restraints

  1. Lack of Standardization and Interoperability

One of the key restraints for the growth of Blockchain tech in the healthcare market is the lack of standardization and interoperability. The current state of Blockchain technology is still immature and lacks standardization. This is hampering the widespread adoption of this technology.

  1. Limited Number of Use Cases

Blockchain technology can be used for various applications in the healthcare sector, such as data exchange, drug tracking, billing, and insurance. However, the current adoption of this technology is still limited to a few use cases.

  1. Regulatory Uncertainty

The regulators are still trying to understand the implications of Blockchain technology on the healthcare sector. This is creating a lot of uncertainty among healthcare organizations, preventing them from investing in this technology.

Segmental Analysis

The global Blockchain tech in the healthcare market is segmented by application, provider type, and end-user.

  1. By Application

The market is segmented into data management, drug traceability claims processing, and others. The data management segment is expected to grow at the highest CAGR during the forecast period. This can be attributed to the increasing demand for secure and efficient healthcare data management solutions.

  1. By Provider Type

The market is segmented into application, middleware, and infrastructure providers. The application providers segment is expected to grow at the highest CAGR during the forecast period. This can be attributed to the increasing demand for Blockchain-based healthcare applications.

  1. By End-User

The market is segmented into healthcare providers, healthcare payers, pharmaceutical companies, and others. The healthcare providers segment is expected to grow at the highest CAGR during the forecast period. This can be attributed to the increasing demand for secure and efficient healthcare information exchange systems.

Conclusion

The global Blockchain tech in the healthcare market is attributed to the increasing demand for secure and transparent healthcare data exchanges. However, the lack of standardization and interoperability is expected to restrain the development of this market.





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