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DUBLIN, January 21, 2023 /PRNewswire/ — The “North America Healthcare Blockchain Market Size, Segments, Outlook and Revenue Forecast 2022-2027 by Application, Deployment, Vendor, End-User and Major Countries” report has been added to from ResearchAndMarkets.com offer.

The North American healthcare blockchain market is expected to witness strong 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 healthcare to reduce the risk of cyberattacks and fraud. The ongoing Covid-19 pandemic has benefited the healthcare blockchain market, driving the growth of the overall market by exacerbating the trend of adoption of blockchain technology in the healthcare sector.

Blockchain in the healthcare sector is not only used for exchanging patient data with hospitals, pharmacies, laboratories and doctors, but also helps improve data security and accuracy, cost reduction, increased transparency and product tracing.

With the rise in cybersecurity, data hacking and phishing, the healthcare industry has faced a lot of data leaks. Therefore, blockchain has become in high demand as it increases the trust, security, transparency, and traceability of data shared on a corporate network. The healthcare sector holds a 20% contribution to GDP in the United States and 45% of global cybercrimes occur in the United States. To prevent this blockchain from playing an important role in the health sector.

Blockchain technology is insecure as it still has security vulnerabilities, which create obstacles for the widespread adoption of Blockchain technology.

Key trends by market segment

Per application:

In the North American healthcare blockchain market, the patient-centric healthcare data type is expected to be the main winner, with its market share reaching around 30% by 2027.

At 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 ophthalmologists, is partnering with Pokitdok to explore blockchain solutions for healthcare health.

Per deployment:

The private deployment type accounts for the majority of the North American healthcare blockchain market share and is expected to have a share of around 40% in 2027. However, the consortium deployment type is expected to be the segment with fastest growing over the forecast period.

By supplier:

The infrastructure and protocol providers segment holds the largest market share in the North American healthcare blockchain market, as blockchain technology is based on protocols that are constantly increasing with the updates.

During the forecast period 2022-2027, the type of application and solution providers is expected to experience the fastest CAGR while the type of middleware providers is expected to experience the slowest growth.

By end-user industries:

Pharmaceutical companies hold the majority of the market and are expected to be the largest end-user industries market during the forecast period, as North America has the largest pharmaceutical market in the world.

Hospitals and clinics hold a share of about 20% by 2027, as the number of hospitals and clinics is expected to increase for treating patients in the coming years.

By geography:

United States accounts for the largest share of the total healthcare blockchain market in North America, accounting for more than three quarters of the total market revenue.

The United States is expected to remain the largest geographic segment of the total North America in the healthcare blockchain market contributing on a larger portion of the market revenue as it has the highest healthcare expenditure.

Canada is expected to remain the second largest segment in the North American healthcare blockchain market, which is driven by digital transformation due to changing consumer demand, the need to stay ahead of competition and the need to solve health problems using blockchain.

Mexico is expected to be the fastest growing market in the North American healthcare blockchain market, which is driven by an increase in cloud adoption in organizations to reduce their costs using technologies of the blockchain.

Competitive landscape

The healthcare blockchain market is highly competitive with around 200 players which include globally diverse players, regional players as well as a large number of national niche players in blockchain solutions in the healthcare sector. health. Most of the domestic niche players are Blockchain Solutions start-ups in the healthcare sector.

Large global players account for around 10% in terms of number of companies and hold around 50% of the market revenue share, followed by regional players. Most national niche players are start-ups. Some of them that successfully scale to create application-specific solutions are often acquired by large global players looking to grow and diversify quickly.

Major specialized players such as Patientory, Chronicled, Hashed Health, Solve.care, and PokitDok have a strong focus on providing a significant number of Blockchain solutions and advanced techniques that can be used in healthcare industries.

Recent Developments Related to Key Players

In 2022, Microsoft acquired Nuance Communications, Inc., a leader in conversational AI and ambient intelligence across various industries, including healthcare, financial services, retail, and telecommunications. With this acquisition, the company began providing ambient clinical intelligence capabilities to healthcare organizations that improve the patient experience.

In 2022, Oracle acquired Cerner, a leading provider of digital information systems used in hospitals and healthcare systems. With this acquisition, Oracle expects to have the ability to transform the delivery of healthcare by providing healthcare professionals with better information that enables better treatment decisions.

At March 2022Intel Corporation announced an agreement to acquire Granulate Cloud Solutions Ltd, a Israelreal-time continuous optimization software developer. The acquisition of Granulate will help cloud and data center customers maximize compute workload performance and reduce infrastructure and cloud costs.

At 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 ophthalmologists, is partnering with Pokitdok to explore blockchain solutions for healthcare health.

Main topics covered in the report

  • North America Healthcare Blockchain Market Overview
  • Industry value chain and ecosystem analysis
  • Market size and segmentation of the North America healthcare blockchain market
  • Historic Growth of Overall North America Healthcare Blockchain Market and Segments
  • Market competition scenario and key competitor developments
  • Porter’s 5 Forces Analysis of the North American Healthcare Blockchain Industry
  • Key Competitor Overview, Product Offerings and SWOT Analysis
  • Impact of Covid19 on the Global North America Healthcare Blockchain Market
  • Future market forecasts and growth rates of the total North America Healthcare Blockchain market and by segments
  • Application/End User Segment Market Size with Historical CAGR and Future Forecast
  • Healthcare blockchain market analysis in major North America countries
  • Main poles of production/consumption in the main North American countries
  • Main centers of production/supply and consumption/demand in each major country
  • Key historical and future market growth rates by country of total market and segments
  • Overview of notable emerging competitor companies in each major country

Key Companies Featured in the Report

  • Microsoft
  • Oracle
  • International Business Machines (IBM)
  • Intel
  • pokidot
  • Amazon Web Services (AWS)
  • Patientory, Inc.
  • Solve. Care
  • Chronic
  • Chopped Health
  • Hewlett Packard Enterprise (HPE)
  • On-call time

Notable emerging companies mentioned in the report

  • Welwaze Medical
  • Name
  • emblem
  • AmArmchai
  • Health chain
  • you first
  • medical veda
  • TEEB Health
  • WelbeCare
  • Yana

Report scope

Period entered in the report

  • Historical period: 2017-2021
  • Forecast period: 2022-2027F

By request

  • Supply chain management
  • Claims and billing management
  • Patient-centric health data
  • Others

Per deployment

  • Audience
  • Private
  • Consortium
  • Hybrid

By supplier

  • Infrastructure and protocol provider
  • middleware provider
  • Application and solution provider

By End User Industry

  • Hospitals & Clinics
  • Health insurance companies
  • Diagnostic laboratories
  • Pharmaceutical companies
  • Medical device companies

By geography

  • UNITED STATES
  • Canada
  • Mexico
  • Rest of North America

For more information on this report, visit https://www.researchandmarkets.com/r/6b6jkj

About ResearchAndMarkets.com
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