Vancouver, BC -- (SBWIRE) -- 01/21/2021 -- The global blockchain in healthcare market is projected to reach USD 5,798.0 Million by 2027 at a CAGR of 64.5% during the forecast period, according to a recent report published by Emergen Research. Safeguarding electronic health records and related personal information is essential in the healthcare sector since patient records are vital to cybercriminals seeking comprehensive identity data. Evolving blockchain technology helps overcome the challenges faced by the healthcare sector with solutions, such as smart contracts, decentralized storage, and cryptography.

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The market in the Asia Pacific region is projected to grow at the fastest rate of 66.3% in the forecast period attributed to a growing acceptance of IT solutions such as electronic health records, development of healthcare infrastructure, and a surging necessity for exchanging patients'' information.

By type, permissioned blockchain is likely to grow at a significant rate in the forecast period. Permissioned blockchain is a private system and offers faster processing of transactions, better privacy, and enhanced security. These developed and deployed for specific organizational demands. A growing requirement to give restricted access is causative of the market growth.

Key participants include IBM, Microsoft, Gem, Chronicled, Hashed Health, Factom, Guardtime, Pokitdok, Patientory, and Blockpharma, among others.

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Market Drivers
The growing incidences of patient data breaches will be a major driving factor for the market growth during the forecast period. The blockchain in healthcare market is predicted to grow at the highest rate during the forecast period since it is a private system that enhances security, provides better privacy and helps in faster transaction processing. Advantages offered by blockchain in healthcare like reduced courier costs, reduction in delays for paperwork, and reduced fraud and errors, will be a major driving factor for the blockchain in healthcare market.

By application, claims adjudication and billing is projected to grow at the fastest rate of 64.9% in the forecast period. It assists healthcare settings to manage duplication process and inappropriate filing. Moreover, it improves and assists in the management of accidental billing faults and uncertain transactions. Thus, it helps in improving the transparency, efficiency, and fast processing of claims.

Regional Outlook
North America is projected to dominate the global market during the forecast period, owing to the highly advanced healthcare sector and high investments in the healthcare sector of the region. Increasing initiatives by organizations, such as FDA, to improve the supply chain security will also boost the market growth during the forecast period.

By end-users, the pharmaceutical companies dominated the blockchain in healthcare market in 2019. The increasing threat of data theft by hackers and rising incidences of counterfeit drugs are among the significant factors encouraging companies to adopt the blockchain technology.

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Blockchain Market Type Outlook (Revenue, USD Billion; 2017-2027)
Permissioned/Private Blockchain
Permissionless/Public Blockchain

Blockchain Market Application Outlook (Revenue, USD Billion; 2017-2027)
Supply Chain Management
Clinical Data Exchange & Interoperability
Claims Adjustment & Billing Management
Others

Blockchain Market End-Users Outlook (Revenue, USD Billion; 2017-2027)
Pharmaceutical Companies
Healthcare Providers
Healthcare Payers
Others

Blockchain Market segment by Region/Country including:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Spain etc.)
Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
South America Brazil, Argentina, Colombia and Chile etc.)
Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)

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Table of Content:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique

Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027

Chapter 3. Key Insights

Chapter 4. Blockchain In Healthcare Market Segmentation & Impact Analysis
4.1. Blockchain In Healthcare Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Rise in threat of counterfeit drugs
4.2.2.2. Increased adoption of blockchain as a service
4.2.2.3. Increased incidences of healthcare data breaches
4.2.3. Market restraints analysis
4.2.3.1. Lack of common standards
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis

Chapter 5. Blockchain In Healthcare Market By Type Insights & Trends, Revenue (USD Million)
5.1. Type Dynamics & Market Share, 2019 & 2027
5.1.1. Permissioned/Private Blockchain
5.1.2. Permission less/Public Blockchain

Chapter 6. Blockchain In Healthcare Market By Application Insights & Trends Revenue (USD Million)
6.1. Application Dynamics & Market Share, 2019 & 2027
6.1.1. Supply Chain Management
6.1.2. Clinical Data Exchange & Interoperability
6.1.3. Claims Adjustment & Billing Management
6.1.4. Others

Chapter 7. Blockchain In Healthcare Market By End-Users Insights & Trends Revenue (USD Million)
7.1. End-Users Dynamics & Market Share, 2019 & 2027
7.1.1. Pharmaceutical Companies
7.1.2. Healthcare Providers
7.1.3. Healthcare Payers
7.1.4. Others
Continued…

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