Blockchain Technology in Healthcare Market by Type, Application, by End-use and Geography – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2019 – 2026

Global Blockchain Technology in Healthcare Market was valued at USD 234.2 million in 2018, and is expected to grow at CAGR of 64.2% during 2020-2026. Factors influencing the market growth are wearable devices cryptography, growing diseases prevalence, increasing incidence of information leaks and data breach and rising investment in the development of efficient healthcare record system.

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The internet has taken the world by storm in the last 2 decades. However, it’s a known fact that everything comes with its own risks. With internet, the world has everything on its fingertips. This includes the advent of malpractices as well. Something illegal happening in one part of the world gets circulated to the other part within no time. This has witnessed a steep rise in the number of hackers along with the other forces abreast with exploitation of vulnerabilities pertaining to these advancements. Homecare is the need of the hour. Advancements therein have definitely helped in making way for critical services in improving the health of the patient. However, with this come increasing concerns regarding transmission and storage of medical information. This would, in turn, boost the demand for blockchain technology in healthcare.

At the same time, the market is bound to get impeded by lack on the part of technical infrastructure in several developing economies. This lacuna is driven by weakening of economy over there. Plus, technical know-how should be backed by skilled workforce. This training would also require finances. Therefore one could conclude that sluggish growth of blockchain technology in healthcare could be a matter of concern herein.