According to SPER Market Research, Over the next five years, the North American healthcare blockchain market is anticipated to grow rapidly. The need for blockchain adoption in the healthcare business to lower risks against fraud and cyberattacks was spurred by security and privacy breaches in the medical industry. The ongoing Covid-19 pandemic has helped the Healthcare Blockchain market by accelerating the trend toward the adoption of blockchain technology in the healthcare industry, which has led to the growth of the overall market.
- Forecast CAGR (2022-2032): XX%
- Forecast Market Size (2032): XX billion
Blockchain technology is being utilized in the healthcare industry to improve data security and accuracy, reduce costs, increase transparency, and track products in addition to exchanging patient data with hospitals, pharmacies, laboratories, and doctors. The healthcare industry had numerous data leaks as a result of the rise in cybersecurity, hacking, and data phishing. As a result, blockchain is in demand because it improves data sharing throughout a business network by increasing trust, security, transparency, and traceability.
Blockchain technology isn’t secure since it still has significant security flaws, which puts obstacles in the way of its widespread implementation. The COVID-19 pandemic is anticipated to help the industry for blockchain in healthcare. Several clinics and hospitals throughout the world underwent remodelling to increase hospital capacity for patients with COVID-19. The high rise in COVID-19 cases resulted in a potential backlog in non-essential procedures. Critical medical supply manufacturing and delivery were hampered by the lockout. A few other factors that affect the market are limited access to healthcare, a staffing shortage in the healthcare sector, and a spike in COVID-19-related hospitalization.
The coronavirus outbreak spurred the use of innovative technology, like blockchain, in the healthcare industry. Healthcare facilities in several nations have started using blockchain technology, which has enhanced efficient resource and operation planning. a means of tracking. To stop the spread of false information, many market participants are developing a tracking system based on blockchain. Healthcare blockchain technology is anticipated to bring both benefits and challenges, which will spur the development of a range of solutions.
North America Healthcare Sector Blockchain 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; AmArmchai, Amazon Web Services (AWS), Chronicled, Embleema, Guardtime, Hashed Health, HealthChain, Hewlett Packard Enterprise (HPE), Intel, International Business Machines (IBM), Medical Veda, Microsoft, Noom, Oracle, Patientory, Inc., Pokidot, Solve. Care, uFirst, WelbeCare, Welwaze Medical, Yana.
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North America Healthcare Sector Blockchain Market Segmentation:
By Application: Based on the Application, North America Healthcare Sector Blockchain Market is segmented as; Claims and Billing Management, Patient-Centric Health Data, Supply Chain Management, Others.
By Deployment: Based on the Deployment, North America Healthcare Sector Blockchain Market is segmented as; Consortium, Hybrid, Private, Public.
By Provider: Based on the Provider, North America Healthcare Sector Blockchain Market is segmented as; Application & Solution Provider, Infrastructure & Protocol Provider, Middleware Provider.
By End User: Based on the End User, North America Healthcare Sector Blockchain Market is segmented as; Diagnostics Laboratories, Health Insurance Companies, Hospitals & Clinics, Medical Device Companies, Pharmaceutical Companies.
By Region: More than three quarters of market revenue comes from the United States, which holds the greatest share of the North American healthcare blockchain industry. Because it spends the most on healthcare, the US is anticipated to continue to be the largest geographic region in all of North America in the Healthcare Blockchain Market, contributing to a higher portion of market revenues. Due to changes in consumer demand, the need to stay ahead of the competition, and the requirement to use blockchain to address healthcare issues, Canada is anticipated to continue to hold the second-largest share of the North American healthcare blockchain market. This market is driven by digital transformation. Due to a rise in cloud use among businesses looking to save costs with blockchain technologies, Mexico is predicted to have the fastest growth rate in the North American healthcare blockchain market.
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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Sara Lopes, Business Consultant – U.S.A.
SPER Market Research