Dublin, January 21, 2023 /PRNewswire/ — The “North America Healthcare Blockchain Market Size, Segments, Outlook and Revenue Forecast 2022-2027 by Application, Deployment, Provider, End User and Major Countries” report has been added to ResearchAndMarkets.com’s Visit.
The North America Healthcare Blockchain Market is expected to witness a robust growth of around 70% CAGR over the next five years (2022-2027).
Security and privacy breaches in the medical industry in 2017 accelerated the demand for blockchain adoption in the healthcare sector to reduce the risk of cyberattacks and fraud. The ongoing COVID-19 pandemic has benefited the healthcare blockchain market, resulting in the overall market growth by increasing the adoption of blockchain technology in the healthcare sector.
In the healthcare sector, blockchain is used not only to exchange patient data with hospitals, pharmacy firms, laboratories, and physicians, but also to improve data security and accuracy, reduce costs, increase transparency, and trace products. also helps.
With the rise in cyber security, hacking and data phishing, the healthcare sector faced several data leaks. Hence, blockchain has come into demand as it enhances the trust, security, transparency and traceability of data shared across business networks. Healthcare sector has 20% GDP contribution in US and 45% of global cyber crimes happen in US so to stop this blockchain plays an important role in healthcare sector.
Blockchain technology is not secure as it still has some security flaws, which create barriers to the widespread adoption of blockchain technology.
Key Trends by Market Segment
In the North America healthcare blockchain market, the patient-centric health data type is expected to be the major beneficiary with its market share reaching ~30% by 2027.
On May 2022VSP Global, a group of companies that combine eye care insurance, eyewear, lenses and lens enhancements, and connected experiences to strengthen the relationship between patients and their eye doctors, is exploring blockchain solutions for healthcare. Has partnered with PokitDoc for
Private deployment type accounts for the majority share of the North America healthcare blockchain market and is expected to account for around 40% in 2027. However, the consortium deployment type is expected to be the fastest growing segment during the forecast period.
The infrastructure and protocol provider segment holds the largest market share in the North America healthcare blockchain market as the blockchain technology is based on protocols that keep on growing with updates.
During the forecast period of 2022-2027, the application and solution provider type is expected to witness the fastest CAGR, whereas the middleware providers type is expected to witness the slowest growth.
By End-User Industries:
Pharmaceutical companies hold the majority share in the market and are expected to be the largest market among end-user industries during the forecast period because North America Largest pharmacy market globally.
The share of hospitals and clinics will be around 20% by 2027 as the number of hospitals and clinics to treat patients is expected to increase in the coming years.
United States Overall North America accounts for the largest share within the healthcare blockchain market, accounting for more than three quarters of the total market revenue.
Americas is expected to remain the largest geographic segment within the total North America Healthcare contributes to a major segment of the market revenue in the blockchain market as it accounts for the highest expenditure in healthcare.
Canada North America is expected to remain the second largest segment in the healthcare blockchain market, driven by digital transformation driven by changes in consumer demand, the need to stay ahead of the competition, and the need to solve healthcare issues with the help of blockchain.
Mexico North America is expected to be the fastest growing market in the healthcare blockchain market, driven by the increase in cloud adoption among organizations to reduce their costs with the help of blockchain technologies.
Healthcare blockchain market is highly competitive with ~200 players which includes globally diversified players, regional players as well as a large number of country-specific players in blockchain solutions in healthcare sector. Most of the country-specific players in the healthcare sector are start-ups in blockchain solutions.
Large global players comprise about 10% in terms of number of companies and hold ~50% market revenue share followed by regional players. Most country-specific players are start-ups. The few that have developed successfully to create application-specific solutions are often acquired by large global players seeking to grow and diversify rapidly.
Major specialist players such as Patientry, Chronicled, Hashed Health, Solve.care, and PocketDoc are highly focused on providing a large number of blockchain solutions and advanced technologies that can be used in the healthcare industries.
Recent developments related to key players
In 2022, Microsoft will acquire Nuance Communications, Inc. Ltd., a leader in conversational AI and ambient intelligence across industries including healthcare, financial services, retail, and telecommunications. With this acquisition, the company has begun providing ambient clinical intelligence capabilities to healthcare organizations that improve patient experience.
In 2022, Oracle acquired Cerner, a leading provider of digital information systems used in hospitals and healthcare systems. With this acquisition, Oracle plans to have the potential to transform healthcare delivery by providing better information to medical professionals, enabling better treatment decisions.
On March 2022Intel Corporation announced an agreement to acquire Granulate Cloud Solutions Ltd, a israelBased developer of real-time continuous optimization software. The acquisition of Granulate will help cloud and data center customers maximize workload performance and reduce infrastructure and cloud costs.
On May 2022VSP Global, a group of companies that combine eye care insurance, eyewear, lenses and lens enhancements, and connected experiences to strengthen the relationship between patients and their eye doctors, is exploring blockchain solutions for healthcare. has partnered with PokitDoc for
Main topics covered in the report
Snapshot of the North America Healthcare Blockchain Market
Industry Value Chain and Ecosystem Analysis
Market Size and Segmentation of the North America Healthcare Blockchain Market
Historical Development of the overall North America Healthcare Blockchain Market and Segment
Market competition landscape and key developments of competitors
Porter’s Analysis of the 5 Forces of the North America Healthcare Blockchain Industry
Key Competitors Overview, Product Offerings and SWOT Analysis
Impact of Covid19 on the Overall North America Healthcare Blockchain Market
Future Market Forecast and Growth Rate of Total North America Healthcare Blockchain Market and by Segment
Market size by application/end user segment with historical CAGR and future forecasts
Analysis of the Healthcare Blockchain Market in Major North American Countries
Major production/consumption centers in major North American countries
Major production/supply and consumption/demand centers in each major country
Total market and key country-wise historical and future market growth rates of the segments
An overview of notable emerging competitors within each major country
Profile of major companies in the report
Notable Emerging Companies Mentioned in the Report
scope of report
Time period recorded in the report
by end user industry
rest of North America
For more details about this report visit https://www.researchandmarkets.com/r/6b6jkj
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