According to a new report, published by KBV research, The Global Blockchain Technology in Healthcare Market size is expected to reach $5.3 billion by 2028, rising at a market growth of 39.9% CAGR during the forecast period.
The Healthcare Providers segment has shown the growth rate of 40.6% during (2022 - 2028). It is due to hospitals, like the Massachusetts General Hospital, increasingly utilizing the technology (MGH). Hospitals and healthcare facilities are currently working to store patient data to ensure the system's efficient operation. This aids in categorizing both new and returning patients and makes use of previous records to support the doctor's appointment.
The Public segment acquired maximum revenue share in the Global Blockchain Technology in Healthcare Market by Type in 2021 thereby, achieving a market value of $3.1 billion by 2028. Private, public, and other network kinds of blockchain technology are used in the healthcare industry. The primary cause of the public segment's large market share is the growing use of public networks for data management.
The Data Exchange & Interoperability segment is showcasing a CAGR of 40.2% during (2022 - 2028). The secure internal connections amongst healthcare institutes are made possible via blockchain integration. Since the blockchain forbids information updates or revisions, market growth is projected in the years to come. Data integrity is ensured by the use of blockchain technology in medical records.
The North America market dominated the Global Blockchain Technology in Healthcare Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2.0 billion by 2028. The Europe market is exhibiting a CAGR of 39% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 41.3% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/blockchain-technology-in-healthcare-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IBM Corporation, Oracle Corporation, Avaneer Health, Inc., BurstIQ, LLC, Chronicled, Embleema, Equideum Health (ConsenSys Mesh), Farmatrust, GuardTime, and Hashed Health.
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