Blockchain Technology In Healthcare Market Demand, Revenue, Trends, Growth Drivers, Opportunities, Challenges and Forecast 2032

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Blockchain Technology In Healthcare Market Demand, Revenue, Trends, Growth Drivers, Opportunities, Challenges and Forecast 2032: SPER Market Research


 Category : Healthcare

 Published: Mar-2023
 Author: SPER Analyst


North America Blockchain in Healthcare Market is projected to be worth USD 58.6 billion by 2032 and is poised to surge at a CAGR of 67.95%.

The utilization of blockchain technology in the healthcare industry has enabled the secure and transparent storage and sharing of information. This technology has proven to be particularly useful in improving the management and sharing of medical data, which is currently fragmented and stored in various locations, making it difficult for patients and doctors to access important information. By implementing blockchain technology, medical records can be stored in a secure and decentralized manner, making it easier and more secure for patients and doctors to access them. With the help of blockchain technology, doctors are able to make better-informed decisions, while patients can take a more active role in their own care, resulting in improved healthcare outcomes. In addition, blockchain technology helps to ensure the privacy and security of medical data, providing an added advantage.

North America Blockchain in Healthcare Market Driving Factors and Challenges

The North American Blockchain in Healthcare Market has grown rapidly and is expected to reach USD 58.6 billion by 2032 with a CAGR of 67.95%. The market is being driven by the need for better management and sharing of medical data, increasing adoption of electronic health records and other digital health technologies, and growing interest in using blockchain for medical research and clinical trials. The market is also driven by technological innovation, regulatory pressures, and growing demand for more efficient and effective healthcare systems.

However, North America Blockchain in Healthcare Market faces challenges regarding seamless integration of different blockchain systems and the issue of data privacy and security. Currently, there are many blockchain platforms being used in healthcare that do not communicate with each other, which creates a fragmented system that makes it difficult for doctors and patients to access all their medical data in one place. While blockchain is designed to be secure, there is still a risk of data breaches and cyberattacks. It is important to ensure that blockchain systems are properly secured and patient privacy is protected. Despite these challenges, there is great potential for blockchain technology to improve healthcare outcomes and provide better access to medical information.


Impact of COVID-19 on North America Blockchain in Healthcare Market
The COVID-19 pandemic has emphasized the significance of data privacy and security. Due to the surge in telemedicine and other digital health technologies, there is now an increased demand for safe and confidential methods to handle medical data. Blockchain presents a solution to this problem by enabling secure and decentralized storage of medical records. Despite the numerous challenges presented by COVID-19 to the healthcare industry, it has also paved the way for the implementation of blockchain technology in healthcare.

North America Blockchain in Healthcare Market Key Players:

The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; BlockPharma, Factom, Inc, Farmatrust, Guardtime, Hashed Health, International Business Machines Corporation, iSolve Technologies, Medicalchain SA, Microsoft Corporation, Patientory Inc, Pokitdok Inc, Simplyvital Health.


North America Blockchain in Healthcare Market Segmentation:

By Offering: Based on the Offering, North America Blockchain in Healthcare Market is segmented as; Platform, Services.

By Type: Based on the Type, North America Blockchain in Healthcare Market is segmented as; Public Blockchain, Consortium or Hybrid Blockchain, Private or Permission Blockchain.

By Provider: Based on the Provider, North America Blockchain in Healthcare Market is segmented as; Infrastructure and Protocol Providers, Middleware Providers, Application and Solution Providers.

By Application: Based on the Application, North America Blockchain in Healthcare Market is segmented as; Clinical Data Exchange & Interoperability, Claims and Billing, Supply Chain Management, Drug Traceability, Drug Discovery & Clinical Trials, Other Applications.

By End User: Based on the End User, North America Blockchain in Healthcare Market is segmented as; Hospitals, Pharmaceutical Companies, Insurance Providers, Other End Users.

By Organization Size: Based on the Organization Size, North America Blockchain in Healthcare Market is segmented as; Large Enterprises, Small and Medium Enterprises (SMEs).

By Region: This report also provides the data for key regional segments of United States, Mexico, Canada. 

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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