Blockchain Technology in Healthcare Market Size 2019, Emerging Technology Trends, Business Insight, Opportunities, Growth, Key Players with Strategy Profiling, Regional Outlook, Forecast to 2023

Blockchain Technology in Healthcare Market Scenario

The blockchain technology in healthcare market, as per a report by Market Research Future (MRFR) is touted to register a CAGR of 71.8%, garnering USD 42.06 million during the forecast period (2018-2023). Blockchain technology is a decentralized platform system, allowing real-time transaction entry and works as a ledger, enabling the users to track activities, which are carried out in the network. Blockchain technology is penetrating all the industries and has a major role to play in the healthcare industry.

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Concerns associated with data security, increasing cases of data breaches, and soaring demand for inexpensive and easy-to-use data management tools are considered primary growth stimulants for the market. Increased investment in the healthcare sector is propelling the market to a great extent. Surging demand to minimize drug counterfeit, strategic initiatives by the major industry players and the need for effective health data management systems are likely to influence the adoption of blockchain in the healthcare sector. Investments made in the development of healthcare record system, medical examination systems, and wearable devices cryptography are likely to encourage the market growth in the coming years.

On the contrary, the dearth of technical infrastructure and skilled workforce are some of the concerns likely to restrict the market in the coming years.

Blockchain Technology in Healthcare Market Competitive Dashboard

The top players operating in the blockchain technology in healthcare market include

  • Microsoft
  • IBM
  • Pokitdok
  • Guardtime
  • Patientory
  • Gem
  • Chronicled
  • Hashed Health
  • Factom
  • Isolve
  • Medicalchain
  • Blockpharma
  • Farmatrust
  • Simplyvital Health

Blockchain Technology in Healthcare Market: Segmental Analysis

By Application:

  • Capsule Endoscopy
  • Supply Chain Management
  • Patient Data Management
  • Drug Traceability
  • Clinical Trials & Data Security
  • Claims Adjudication
  • Billing
  • Others

By Type:      

  • Permissioned Blockchains
  • Permission less Blockchains

By End User:

  • Pharmaceutical companies
  • Healthcare Service providers
  • Healthcare consumers
  • Others

By application, the blockchain technology in healthcare market is segmented into patient data management, supply chain management, clinical trials & data security, drug traceability, billing, claims adjudication, and others. Of these, the supply chain management segment is likely to gain prominence owing to the soaring number of counterfeit drugs in the circulation and implementation of strict mandates like the Drug Quality and Security Act in the U.S.

By end user, the market is segmented into healthcare service providers, pharmaceutical companies, healthcare consumers, and others. Of these, the pharmaceutical companies acquire the largest share due to the strict mandates associated with the healthcare supply chain management in major markets like Europe and the U.S.

Blockchain Technology in Healthcare Market Regional Frontiers

Geographically, the blockchain technology in healthcare market spans across Europe, America, Asia Pacific, and the Middle East & Africa.

Considering the global scenario, America is considered to dominate the blockchain technology in healthcare market. The region will retain its position in the coming years due to the increased adoption of advanced technologies, high availability of insurance holders and patient population, and the existence of well-established healthcare management systems in the region. In this region, North America is likely to acquire the lion’s share due to the implementation of regulations regarding safety of patient data, along with the enhancing quality of care, increasing need to minimize the soaring healthcare costs, rising prevalence of fraudulent activities, and surging need to prevent tampering of medical data.

Europe will bag the second spot in the blockchain technology in healthcare market, mainly due to the soaring number of clinical trials with rising R&D expenses in the pharmaceutical industry. Increasing expenditure in the healthcare sector and growing awareness regarding blockchain technology are some of the factors triggering the demand from the market in the region.

The Asia Pacific is likely to expand at the fastest rate due to the increased investments in the healthcare sector, rising generic pharmaceutical industry, and high adoption of technology in the healthcare segment.

Blockchain Technology in Healthcare Industry Updates

August 2019: The owners of Louis Vuitton label, LMVH have launched a blockchain technology that will assist in proving the authenticity of expensive goods. The technology is built-in Ethereum with the help of Microsoft.

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Table Of Contents:

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1. Definition

2.2. Scope Of The Study

2.2.1. Research Objective

2.2.2. Assumptions

2.2.3. Limitations

Chapter 3. Research Methodology

3.1. Introduction

3.2. Primary Research

3.3. Secondary Research

3.4. Market Size Estimation

Chapter 4. Market Dynamics

4.1. Drivers

4.2. Restraints

4.3. Opportunities

4.4. Challenges

4.5. Macroeconomic Indicators

4.6. Detection Technique Trends & Assessment

Chapter 5. Market Factor Analysis

…Continued

LIST OF TABLES

Table 1. Global Blockchain Technology In Healthcare Market Synopsis, 2018–2023

Table 2. Global Blockchain Technology In Healthcare Market Estimates And Forecast, 2018–2023 (USD Million)

Table 3. Global Blockchain Technology In Healthcare Market, By Region, 2018–2023 (USD Million)

Table 4. Global Blockchain Technology In Healthcare Market, By Application, 2018–2023 (USD Million)

Table 5. Global Blockchain Technology In Healthcare Market, By Type,, 2018–2023 (USD Million)

Table 6. Global Blockchain Technology In Healthcare Market, By End User, 2018–2023 (USD Million)

…Continued

LIST OF FIGURES

Figure 1. Research Process

Figure 2. Segmentation For Global Blockchain Technology In Healthcare Market

Figure 3. Segmentation Market Dynamics For Global Blockchain Technology In Healthcare Market

Figure 4. Global Blockchain Technology In Healthcare Market Share, By Application, 2017

Figure 5. Global Blockchain Technology In Healthcare Market Share, By Type, 2017

Figure 6. Global Blockchain Technology In Healthcare Market Share, By End User, 2017

…Continued

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:

Akash Anand

Market Research Future

+1 646 845 9312

Email: sales@marketresearchfuture.com

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