Global Blockchain Technology in the Healthcare Market, By Application (Data Exchange and Interoperability, Claims Adjudication and Billing Management, Drug Supply Chain Integrity, Clinical Trials, Cyber Security and Internet of Medical Things), End-Use (Pharmaceutical Companies, Healthcare Payers, Healthcare Providers, Others), Type (Permissioned Blockchains, Permission Less Blockchains), Deployment Sector (Public, Private) – Industry Trends and Forecast to 2030.
Blockchain Technology in the Healthcare Market Analysis and Size
Blockchain technology is used on a real-time basis to gather and monitor information about transactions. This technology acts as a digital ledger and manages all the operations carried out within the network. Blockchain technology offers many advantages, such as higher transaction speed, lower data replication, lower chances of failure, and high confidence and governance. Information on the patient's database is stored in bits and pieces in healthcare systems.
Data Bridge Market Research analyses that the global blockchain technology in the healthcare market which was USD 2.01 billion in 2022, is expected to reach USD 26.79 billion by 2030, and is expected to undergo a CAGR of 41.4% during the forecast period 2023-2030. This indicates that the market value. “Pharmaceutical companies” dominates the end use segment of the global blockchain technology in the healthcare market owing to rise in the aging population. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Blockchain Technology in the Healthcare Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Application (Data Exchange and Interoperability, Claims Adjudication and Billing Management, Drug Supply Chain Integrity, Clinical Trials, Cyber Security and Internet of Medical Things), End-Use (Pharmaceutical Companies, Healthcare Payers, Healthcare Providers, Others), Type (Permissioned Blockchains, Permission Less Blockchains), Deployment Sector (Public, Private )
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Countries Covered
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U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E, Egypt, Israel, Rest of Middle East and Africa
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Market Players Covered
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IBM Corporation (U.S.), Microsoft (U.S.), Guardtime (Estonia), PokitDok, Inc. (U.S.), Gem (U.S.), Global Hospital & Healthcare Management (India), Chronicled (U.S.), iSolve, LLC (U.S.), Patientory (U.S.), Factom (U.S.), Medicalchain SA (U.K.), Proof.Works (U.S.), Blockchain AI Solutions Ltd (U.K.), BurstIQ (U.S.), Doc.ai, Inc. (U.S.), Intellectsoft US (U.S.), Medtronic (Ireland), Quest Diagnostics Incorporated (U.S.), Hong Kong Applied Science and Technology Research Institute Company Limited (Hong Kong), Nebula Genomics (U.S.)
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Market Opportunities
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Market Definition
Blockchain technology is used on a real-time basis to gather and monitor information about transactions. This technology acts as a digital ledger and manages all the operations carried out within the network. Blockchain technology offers many advantages, such as higher transaction speed, lower data replication, lower chances of failure, and high confidence and governance. Information on the patient's database is stored in bits and pieces in healthcare systems.
Global Blockchain Technology in the Healthcare Market Dynamics
Drivers
- Clinical Trials and Research
Blockchain can streamline and secure the process of conducting clinical trials and research by providing a transparent and auditable record of trial data, ensuring the integrity of results and reducing fraud.
- Investment and Collaboration
Increased investment from both public and private sectors, as well as collaboration among healthcare institutions, tech companies, and startups, is driving the development and adoption of blockchain solutions in healthcare.
Opportunity
- Patient Records Management
Patients can have control over their own health records through blockchain-based solutions. They can grant access to healthcare providers as needed, improving patient engagement and care coordination.
Restraint/Challenge
- Scalability
As the volume of healthcare data continues to grow, ensuring the scalability of blockchain networks becomes crucial. Scalability issues can hinder the adoption of blockchain in healthcare.
This global blockchain technology in the healthcare market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global blockchain technology in the healthcare market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Blockchain Technology in the Healthcare Market Scope
Global blockchain technology in the healthcare market is categorized into four notable segments which are based on the basis of application, type, deployment sector, and end-use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Application
- Data Exchange and Interoperability
- Claims Adjudication and Billing Management
- Drug Supply Chain Integrity
- Clinical Trials, and Cyber Security
- Internet of Medical Things
Type
- Permissioned Blockchains
- Permission Less Blockchains
Deployment Sector
- Public
- Private
End-Use
- Pharmaceutical Companies
- Healthcare Payers
- Healthcare Providers
- Others
Global Blockchain Technology in the Healthcare Market Regional Analysis/Insights
Global blockchain technology in the healthcare market is analysed and market size insights and trends are provided by country, application, type, deployment sector, and end-use as referenced above.
The countries covered in the global blockchain technology in the healthcare market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the global blockchain technology in the healthcare market due to the rising incidence of fraudulent activities along with increasing need to reduce healthcare cost in the region, while Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2021 to 2028 due to the development of healthcare infrastructure along with rising adoption of EHR systems in the region.
The country section of the global blockchain technology in the healthcare market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Blockchain Technology in the Healthcare Market Share Analysis
Global blockchain technology in the healthcare market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to global blockchain technology in the healthcare market.
Some of the major players operating in the global blockchain technology in the healthcare market are:
- IBM Corporation (U.S.)
- Microsoft (U.S.)
- Guardtime (Estonia)
- PokitDok, Inc. (U.S.)
- Gem (U.S.)
- Global Hospital & Healthcare Management (India)
- Chronicled (U.S.)
- iSolve, LLC (U.S.)
- Patientory (U.S.)
- Factom (U.S.)
- Medicalchain SA (Switzerland)
- Proof.Works (U.S.)
- Blockchain AI Solutions Ltd (U.K.)
- BurstIQ (U.S.)
- Doc.ai, Inc. (U.S.)
- Intellectsoft US (U.S.)
- Medtronic (Ireland)
- Quest Diagnostics Incorporated (U.S.)
- Hong Kong Applied Science and Technology Research Institute Company Limited (Hong Kong)
- Nebula Genomics (U.S.)
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