Blockchain Healthcare Market – Global Industry Analysis and Forecast (2023-2029)

Blockchain Healthcare Market size is expected to reach nearly US$ 2267.21 Mn. by 2029 with the CAGR of 56.2% during the forecast period.

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments.

The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.To know about the Research Methodology:-Request Free Sample Report

Blockchain works on decentralized platforms. Transparency, cost reduction, elimination of third parties, cryptographic security, micro-payments, and immutability are the key advantages of blockchain solutions. The blockchain is going to be the important reason behind the digitization across various industrial verticals. The financial sector is the pioneer in exploring and adopting blockchain solutions for smart transactions. Healthcare is one of the other sectors focusing prominently on the blockchain. Blockchain will disrupt the Healthcare industry and will create growth opportunities, monetization avenues, and facilitate digital transformation. Around 16% of healthcare executives had definite plans to incorporate the technology this year, while 56% are expected to embrace it by 2020.

Technological advances in the information technology predominantly in the ability to record and store information conveniently and economically and sharing it securely among different applications and systems will positively affect the development in providing efficient health-care services. Blockchain technology is anticipated to be an answer for all of healthcare information system interoperability and security-related roadblocks.

The urgent need to improve interoperability and security of the healthcare information systems is the major driving force for the usage of blockchain technology in the healthcare market. Further, rising entrance of counterfeit medicines in the pharmaceutical supply chain, increasing incidences of medical data breaches, adequate funding to healthcare blockchain start-ups, government initiatives to implement blockchain in healthcare, and increasing adoption of blockchain as a service (BaaS) is fuelling the growth of the Blockchain Healthcare Market. Numerous effective use-cases of blockchain have already been witnessed, ranging from tracking of consent in clinical trials, pharma supply chain solutions to the development of healthcare information exchange platforms. The disruption prospects of Healthcare data exchange, health insurance, and clinical trials are expected to be large in the near future. However, lack of a central entity & common standards and lack of awareness & understanding of the use of blockchain technologies in the healthcare sector are expected to restrain the growth of Blockchain Healthcare Market to a certain extent.

The report segments the Blockchain Healthcare Market by application, end user, and region. In 2018, stringent laws like the falsified medicines directive (FMD) in Europe and the Drug Quality and Security Act (DQSA) are in operation to tackle the rising incidents of counterfeit medicines. Thus supply chain management segment is expected to account for the largest share amongst all the applications.

Considering the end users, Pharmaceutical companies segment is expected to account for the largest share pertaining to the tough regulations to secure pharmaceutical supply chain. Rising cases of counterfeit drugs entering the supply chain are boosting the adoption of blockchain in the pharmaceutical industry.

In the case of regions, North America is expected to hold the largest share of the Blockchain Healthcare Market, followed by Europe. The large share of North America can be credited to prevalent data breaches in the region, stringent regulations to improve pharmaceutical supply chain, growing incidences of fraudulent billings, and the rising need to address the dramatic rise in healthcare costs in the region.

Some of the prominent players in this market are Microsoft, IBM, Guardtime, PokitDok, Gem are some of the key players in Blockchain Healthcare Market.

The objective of the report is to present comprehensive Blockchain Healthcare Market for Asia Pacific   including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.

The report also helps in understanding Blockchain Healthcare Market for Asia Pacific dynamics, structure by analyzing the market segments, and project the Blockchain Healthcare Market for Asia Pacific   size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Blockchain Healthcare Market for Asia Pacific make the report investor’s guide.
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Blockchain Healthcare Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 99.93 Mn.


Forecast Period 2023 to 2029 CAGR:
56.2%
Market Size in 2029:
US $ 2267.21 Mn.


 Segments Covered:
by Application
Supply Chain Management
Clinical Data Exchange and Interoperability
Claims Adjudication and Billing Management
Other Applications


by End User
Pharmaceutical Companies
Healthcare Payers
Healthcare Providers
Others


by Network Type
Private
Public
Others



Blockchain Healthcare Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Blockchain Healthcare Market Key Players are:
1. IBM
2. Microsoft
3. Guardtime
4. Doc.Ai
5. Iryo
6. PokitDok
7. Gem
8. Chronicled
9. Coral Health
10.iSolve
11.Hashed Health
12.Patientory
13.Factom
14.EncrypGen
15.Proof.Work
16.SimplyVital Health
17.FarmaTrust
18.Blockpharma
19.Medicalchain
20.Nebula Genomics
21.Accenture
22.Capgemini
23.Deloitte Touche Tohmatsu Limited
24.Digital Asset Holdings
25.Global Arena Holding, Inc.
26.Ethereum
27.BitFuryUsa Inc.

Frequently Asked Questions:

1. Which region has the largest share in Blockchain Healthcare Market?
Ans: North America region held the highest share in 2022.

2. What is the growth rate of Blockchain Healthcare Market?
Ans: The Blockchain Healthcare Market is growing at a CAGR of 56.2% during forecasting period 2023-2029.

3. What is scope of the Blockchain Healthcare market report?
Ans: Blockchain Healthcare Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Blockchain Healthcare market?
Ans: The important key players in the Blockchain Healthcare Market are – IBM, Microsoft, Guardtime, Doc.Ai, Iryo, PokitDok, Gem, Chronicled, Coral Health, iSolve, Hashed Health, Patientory, Factom, EncrypGen, Proof.Work, SimplyVital Health, FarmaTrust, Blockpharma, Medicalchain, Nebula Genomics, Accenture, Capgemini, Deloitte Touche Tohmatsu Limited, Digital Asset Holdings, Global Arena Holding, Inc., Ethereum, and BitFuryUsa Inc.

5. What is the study period of this market?
Ans: The Blockchain Healthcare Market is studied from 2022 to 2029.