The global block chain technology in healthcare market size was valued at USD 550.1 billion in 2021 and is poised to grow at a significant CAGR of 19.5% during the forecast period 2022-28. Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on “Block Chain Technology in Healthcare Market: By Application (Clinical Data Exchange & Interoperability, Supply Chain Management, and Claims Settlement & Billing), By End User (Healthcare Payers, Pharmaceutical Companies, and Healthcare Providers), and Geography-Global/Region/Country Forecast to 2028.”

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Government initiation and support to implement blockchain in healthcare is projected to provide significant growth for the Block Chain Technology in Healthcare Market:

The blockchain is decentralized system which stores, records and maintains historical or commercial records and public ledger which works in the same way to a database. Blockchain is a disruptive and formidable technology triggers a seismic upheaval in any industry. In healthcare, blockchain has several benefits such as a standardized pattern of consent to access proof of identify, electronic health records and internet infrastructure protection at all levels.

There are a few factors impelling the development of the blockchain in healthcare market such as increase in the need for immutable distributed and clear ledgers, the development of inefficient healthcare database systems and the application of block as a service and increasing cases of data breaches and information leaks. Adoption of blockchain will address worries like effective data sharing amid healthcare which will drive the possibility of accurate diagnosis, overall capacity of healthcare organizations to deliver cost-efficient care and successful treatment. Moreover, Government initiation and support to implement block chain in healthcare and adequate funding to the startups in block chain in healthcare anticipated to provide considerable growth for the block chain technology in healthcare market. Increased expenditures in the creation of efficient medical record systems and increasing worries about patient confidentiality are the factor boosting the market forward. On the other hand, lack of consciousness about block chain and strict regulatory policies are projected to hamper the block chain technology in healthcare market growth during the forthcoming years.

North America accounted for major share in the Block Chain Technology in Healthcare Market:

On the basis of regional analysis, global block chain technology in healthcare market is widespread into major regions such as Latin America, North America, Asia Pacific, Europe, Middle East and Africa. Among all these regions, North America is leading in the market because of the implementation of strict rules such as Drug Quality and Security Act in U.S. and increasing fake drugs entry. Europe also witnesses significant share in the block chain technology in healthcare market. Asia Pacific market is anticipated to grow at considerable rate during the forthcoming years.

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Competitive Analysis - Global Block Chain Technology in Healthcare Market:

Major players working in the global block chain technology in healthcare market are IBM (US), Microsoft (US), Guardtime (Estonia), PokitDok (US) and Gem (US).

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