Blockchain In Healthcare Market size worth $ 7308.32 Million, Globally, by 2028 at 76.30% CAGR

Verified Market Research

Increased healthcare data breaches, hacking and phishing activities, growing demand for cost-effective and highly secure interoperability with the help of Blockchain, development of efficient health care record system is supposed to drive market.

JERSEY CITY, N.J., April 6, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Blockchain In Healthcare Market" By End-User (Pharmaceutical Companies, Healthcare Payers, Healthcare Providers), By Application (Clinical Data Exchange and Interoperability, Supply Chain Management), and By Geography. According to Verified Market Research, the Global Blockchain In Healthcare Market size was valued at USD 1497.28 Million in 2020 and is projected to reach USD 7308.32 Million by 2028, growing at a CAGR of 76.30% from 2021 to 2028.

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Global Blockchain In Healthcare Market Overview

The increasing incidence of leaked information and data breaches, the growth of unproductive healthcare database systems, the execution of block as a service (BaaS), and the increasing need for the clear and irreversible distributed ledger are propelling the development of the Blockchain In Healthcare Market. Implementing Blockchain solves definite issues, including providing efficient data sharing among healthcare providers, which influences the chances of official diagnosis, appropriate treatment, and health providers' overall capacity to deliver cost-effective treatment.

A lack of knowledge about the importance of blockchain in the healthcare sector, as well as a lack of supply of educated professionals, inhibit overall growth. The majority of BlockChain applications are used for the BFSI sector, and people just lack adequate knowledge and understanding of these applications, which leads to negative effects on market development. Increasing government approaches, increased investments in the development of more effective healthcare record systems, and enhanced concern about client privacy are all creating opportunities for the market to grow over the forecasted period.