Global Blockchain in Healthcare Market Analysis By Application (Drug Supply Chain Management, Clinical Trials, Data Exchange and Interoperability, Medical Record Management, Billing and Claims Management), By End-User (Healthcare Providers, Pharmaceutical Companies, Healthcare Payers, Patients), By Deployment (On-Premise, Cloud-Based) & Forecast
- PUBLISHED ON
- 5/10/2023
- NO OF PAGES
- 246
- CATEGORY
- Healthcare & Life Sciences
The global Blockchain in Healthcare market was worth USD 129.4 million in 2022 and is projected to reach USD 5,634.0 million by 2033, growing at a CAGR of 63.0% from 2023 to 2033.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 129.4 million |
Market Forecast in 2033 | USD 5,634.0 million |
CAGR % 2023-2033 | 63.0% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product, end-user industry, company share, company heat map, company Capacity Technology Product capacity, growth factors and more |
Key Companies | Guardtime; Gem; Factom; PokitDok; SimplyVital Health; MedicalChain; Hashed Health; FarmaTrust; Blockpharma; Proof.Work; doc.ai; BurstIQ; Nanovision; Embleema; BlockMedx; Shivom; Coral Health; Patientory; HealthCombix; Nebula Genomics; Bowhead Health; Lympo; Healthereum; PharmAccess Foundation; HealthSapiens; TrustedHealth; MedRec; Medical DAO |
Global Blockchain in Healthcare Market- Description
Blockchain technology is a decentralized, distributed ledger that maintains a continuously growing list of records or transactions, which are secured using cryptography. The technology is known for its ability to enable secure and transparent transactions, without the need for intermediaries, making it an ideal fit for industries like finance, supply chain management, and healthcare. In the healthcare industry, Blockchain technology can be used to improve data sharing and access, protect patient privacy, and enhance the overall efficiency of healthcare delivery. Blockchain in healthcare can help to address some of the key challenges faced by the industry, such as data fragmentation, interoperability, and patient data privacy and security.
The global Blockchain in healthcare market is expected to experience significant growth in the coming years, driven by the increasing adoption of Blockchain technology in healthcare applications, such as medical record management, clinical trials, drug supply chain management, and healthcare payment systems. The benefits of Blockchain technology, such as enhanced data security and interoperability, improved transparency, and reduced costs, are driving the adoption of Blockchain in healthcare. However, challenges such as regulatory uncertainty, lack of technical standards, and limited scalability may hinder the growth of the market.
Global Blockchain in Healthcare market: Key Trends
• Emergence of patient-centric healthcare models:
One of the key trends in the Blockchain in healthcare market is the growing shift towards patient-centric healthcare models. With Blockchain technology, patients can have complete control over their medical records and data, including who can access it, how it is shared, and how it is used. This shift towards patient-centric healthcare models is expected to drive demand for Blockchain solutions that provide secure, transparent, and decentralized storage and management of patient data.
• Integration of Blockchain with artificial intelligence (AI) and machine learning (ML):
Another emerging trend in the Blockchain in healthcare market is the integration of Blockchain with AI and ML technologies. The combination of Blockchain with AI/ML can help healthcare providers and organizations to analyze and process large amounts of medical data in real-time, which can lead to more accurate diagnoses, personalized treatments, and improved patient outcomes. The integration of these technologies is expected to drive demand for Blockchain solutions that can support the secure and efficient exchange and sharing of medical data.
Global Blockchain in Healthcare market: Segmental Analysis
By Application:
• Drug Supply Chain Management
• Clinical Trials
• Data Exchange and Interoperability
• Medical Record Management
• Billing and Claims Management
By End-User:
• Healthcare Providers
• Pharmaceutical Companies
• Healthcare Payers
• Patients
By Deployment:
• On-Premise
• Cloud-Based
On-premise deployment involves installing and managing the Blockchain infrastructure within an organization's own data center, while cloud-based deployment involves using a third-party service provider to manage the Blockchain infrastructure.
Global Blockchain in Healthcare market: Geographical landscape
The major regions defining the geographical terrain of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and Latin America. The adoption of Blockchain technology in the healthcare industry is expected to grow significantly in North America, driven by factors such as increasing concerns about data privacy and security, rising adoption of electronic health records (EHRs), and the need for interoperability and data sharing across healthcare systems.
Global Blockchain in Healthcare Market- Recent Developments
• In April 2021, BurstIQ, a provider of Blockchain-based secure data solutions for the healthcare industry, announced a partnership with Elsevier, a global provider of medical information solutions. The partnership aims to create a secure, patient-centered platform that will enable individuals to own and control their health data.
• In March 2021, IBM announced the launch of its new Blockchain-based network, the Digital Health Pass, which is designed to help organizations verify an individual's health status in real-time. The platform uses Blockchain technology to securely store and share health data, and is aimed at facilitating safe return to public spaces amid the COVID-19 pandemic.
• In February 2021, Guardtime, a provider of Blockchain-based solutions for the healthcare industry, announced a partnership with Express Scripts, a pharmacy benefits management company. The partnership aims to leverage Blockchain technology to improve the security and integrity of prescription drug data.
Global Blockchain in Healthcare Market: Key Companies
• Guardtime
• Gem
• Factom
• PokitDok
• SimplyVital Health
• MedicalChain
• Hashed Health
• FarmaTrust
• Blockpharma
• Proof.Work
• doc.ai
• BurstIQ
• Nanovision
• Embleema
• BlockMedx
• Shivom
• Coral Health
• Patientory
• HealthCombix
• Nebula Genomics
• Bowhead Health
• Lympo
• Healthereum
• PharmAccess Foundation
• HealthSapiens
• TrustedHealth
• MedRec
• Medical DAO
• Others
Global Blockchain in Healthcare Market: Regional Scope
North America
• U.S.
• Canada
• Mexico
Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia Pacific
South America
• Brazil
• Argentina
• Rest of South America
Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of Middle East and Africa
Why to buy this Report?
Market research: The report provides valuable insights into market trends, growth opportunities, and competitive landscapes. By reading a technology report, businesses and investors can gain a better understanding of the market they are operating in or considering entering, and make more informed decisions based on data and analysis.
Competitive analysis: The report reports provide detailed information on competitors' strengths, weaknesses, and strategies, which can help businesses identify potential threats and opportunities in the market.
Innovation: The report provides insights into emerging technologies and trends, which can help businesses stay up-to-date with the latest developments and make informed decisions about where to invest their resources.
Due diligence: The report can be used by investors and acquirers as part of their due diligence process when considering investing in or acquiring a technology company. These reports can provide valuable information on the company's financials, technology, market position, and other key factors.
Frequently Asked Questions
• What is the market size and growth projections?
• What is the market size and growth projection for each of the market segments and sub-segments across Countries & Regions?
• What are the top performing segments, and countries / regions of each of the markets?
• What is the market size and growth rate across key countries / regions?
• How big is the global & regional market in terms of revenue and volume?
• How far market will grow in forecast period in terms of revenue and volume?
• What factors will influence demand and supply trends across each markets during the forecast period?
• What are the technology trends shaping various markets?
• Which country / region has more opportunities?
• What is the COVID-19 impact on the market and how long will it take to recover?
• Who are the key competitors of market Players?
• What are the market share (%) of Key Players?
• What are the Merger & Acquisition, New Product Launch, Recent Development within each of the Markets?
• What are PEST analysis, Ecosystem Analysis, Porter's Five Forecast Analysis, Ansoff Matrix, and SWOT Analysis among other analyses for diverse markets?
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
- Project kickoff meeting with client
- Conduct frequent client communications
- Form project steering committee
- Assign a senior SR executive as QA Executive
- Conduct internal editorial & quality reviews of project deliverables
- Certify project staff in SR methodologies & standards
- Monitor client satisfaction
- Monitor realized value post-project
Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
}})
Select a license type that suits your business needs
US $4250
Only Four Thousand Two Hundred Fifty US dollar
- 1 User access
- 15% Additional Free Customization
- Free Unlimited post-sale support
- 100% Service Guarantee until achievement of ROI
US $5250
Only Five Thousand Two Hundred Fifty US dollar
- 5 Users access
- 25% Additional Free Customization
- Access Report summaries for Free
- Guaranteed service
- Dedicated Account Manager
- Discount of 20% on next purchase
- Get personalized market brief from Lead Author
- Printing of Report permitted
- Discount of 20% on next purchase
- 100% Service Guarantee until achievement of ROI
US $6250
Only Six Thousand Two Hundred Fifty US dollar
- Unlimited User Access
- 30% Additional Free Customization
- Exclusive Previews to latest or upcoming reports
- Discount of 30% on next purchase
- 100% Service Guarantee until achievement of ROI