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Blockchain Technology in Healthcare Market Is Estimated To Grow At CAGR Of 64.4%, 2018-2026 | Latest Industry Coverage By Douglas Insights

Douglas Insights
Douglas Insights

Central data encryption and security companies such as Microsoft Corporation, IBM Corporation, SimplyVital Health Inc., Guardtime, and Encrypgen have proved to be significantly essential market players in the adoption and innovation of blockchain technology.

Isle of Man, Nov. 22, 2022 (GLOBE NEWSWIRE) -- Douglas Insights is pleased to add Blockchain technology in healthcare market research reports in its revolutionary comparison engine, helping market analysts, researchers, and associated businesses to evaluate and compare market trends, growth and impeding factors, and geographical opportunities. The one-of-a-kind comparison engine allows clients to compare various public and private research reports based on pricing, publisher, and the number of pages. Douglas Insights’ unique digital tool makes work more accessible and efficient for clients, making their experience worthwhile.

Blockchain technology in healthcare allows the preservation and transmission of data between different health service providers in an efficient, effective, and secure way. Since the use of electronic health records (EHRs) has increased among different healthcare institutions and their associated institutions, such as physicians, testing laboratories, pharmaceutical companies, and hospitals, data security has become a major focus. Along with that, the ease of data transference, especially since all the healthcare bodies in the systems have different infrastructures in place, has also become crucial. Blockchain technology addresses these issues and resolves them with its secure network.

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Market Insights

The increasing number of data breaches in the healthcare system, the rise in the widespread supply of counterfeit medications, and the effectiveness of blockchain services are significant factors contributing to the growth of blockchain technology in the healthcare market. Various pharmaceutical companies are facing monetary deficits due to counterfeit drugs in the market, and blockchain can help curb the issue through its secure data chain. Furthermore, because blockchain technology eliminates the need for third-party intervention, data manipulation becomes less common.

Blockchain technology in the healthcare market has a CAGR of 64.4% during the forecast period from 2018 to 2026.

The cost-effectiveness of blockchain is also a promising growth factor for blockchain in the healthcare market. The validity of the data used in clinical trials depends on secure and untampered data that clinicians often have issues with due to security breaches and false information. Research sponsors employing blockchain technology can rest assured that they have safe and transparent medical data that meets the standard security protocols.

The government and other interested venture capitalists are making investments in the deployment of blockchain technology in healthcare. This presents various opportunities for market growth. The costs of blockchain instalments will not be borne by end users, ensuring a high rate of technology adoption.

Despite the increased funding and widespread usage of blockchain in the healthcare sector, there are several factors that can impede the market’s growth. Lack of proper data infrastructure is one of those factors, as improper data collection and preservation methods fail to provide accurate data when needed. Furthermore, various healthcare service providers also lack trained professionals who can contribute their services to productive data collection, usage, and transfer.

Blockchain technology in the healthcare market is segmented by application, end-user, geography, and critical players. The American healthcare system’s digitization has long asked for secure data transference services. Hence, blockchain technology in the healthcare market will continue to be dominated by the US. During the forecast period of 2018–2026, several European nations, namely the UK and Germany, will also become significant players in the market as their healthcare systems adopt blockchain technology. Big pharma will continue to drive market growth in these nations.

Key players

Central data encryption and security companies such as Microsoft Corporation, IBM Corporation, SimplyVital Health Inc., Guardtime, and Encrypgen have proved to be significantly essential market players in the adoption and innovation of blockchain technology. Nebula Genomics, Proof. Works, FarmaTrust, and PokitDok, Inc., are some other key players making new market waves.

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Blockchain technology to healthcare Market Report Coverage

Report Attributes

Details

Market Size in 2018

US$ ** BN

Market Size Projection in 2029

US$ ** BN

CAGR (2018-2026)

64.4%

Largest Market

North America

Report Segmentation

By Application, By Deployment Mode, By End User, By Region

Regional Analysis

North America (US, Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Europe (U.K, Germany, Italy, France, Spain, Russia and Rest of Europe), APAC (China, Japan, India, South Korea, Australia, ASEAN and Rest of Asia Pacific), ME (GCC Countries, Israel, and Rest of Middle East) & Africa (South Africa, North Africa and Central Africa)

Key Companies Covered

Microsoft Corporation, IBM Corporation, SimplyVital Health Inc., Guardtime, and Encrypgen have proved to be significantly essential market players in the adoption and innovation of blockchain technology. Nebula Genomics, Proof. Works, FarmaTrust and PokitDok, Inc.

Segmentations

By Deployment Mode

  • Introduction

  • Public

  • Private

  • Hybrid

By End User

  • Introduction

  • Hospitals

  • Pharmaceutical Companies

  • Insurance Providers

  • Others

By Application

  • Introduction

  • Supply Chain Management

  • Clinical Data Exchange and Interoperability

  • Claims Adjustment and Billing Management

  • Others

Key questions answered in this report

  • COVID 19 impact analysis on global Blockchain technology to healthcare industry.

  • What are the current market trends and dynamics in the Blockchain technology to healthcare market and valuable opportunities for emerging players?

  • What is driving Blockchain technology to healthcare market?

  • What are the key challenges to market growth?

  • Which segment accounts for the fastest CAGR during the forecast period?

  • Which product type segment holds a larger market share and why?

  • Are low and middle-income economies investing in the Blockchain technology to healthcare market?

  • Key growth pockets on the basis of regions, types, applications, and end-users

  • What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?

Unique data points of this report

  • Statistics on Blockchain technology to healthcare and spending worldwide

  • Recent trends across different regions in terms of adoption of Blockchain technology to healthcare across industries

  • Notable developments going on in the industry

  • Attractive investment proposition for segments as well as geography

  • Comparative scenario for all the segments for years 2018 (actual) and 2028 (forecast)

Table of Content:

Chapter 1 Introduction

  • Study Goals and Objectives

  • Reasons for Doing This Study

  • Scope of Report

  • What's New in This Update?

  • Methodology

  • Intended Audiences

  • Information Sources

  • Geographic Breakdown

  • Analyst's Credentials

  • BCC Custom Research

  • Related BCC Research Reports


Chapter 2 Summary and Highlights

  • Table Summary : Global Market for Blockchain Technology in Healthcare, by Region, Through 2027

  • Figure Summary : Global Market Shares of Blockchain Technology in Healthcare, by Region, 2021


Chapter 3 Market Overview

  • Introduction

  • Evolution of Blockchain Technology

  • Origin of Blockchain

  • Development of Blockchain

  • Market Trends

  • Rising Application of Blockchain in Healthcare Claims and Billing

  • Funding, Investment, and Pilot Projects Acting as a Catalysts of Growth

  • Increasing Application of Blockchain Technology in Untapped Medical Fields

  • Trends in Blockchain in the Healthcare Industry

  • Blockchain for Enhanced Collaboration and Interoperability

  • Decentralized Credentials Exchange

  • Tracking Prescription Drugs

  • Smart Contracts in Healthcare

  • Market Overview

  • Growing Adoption of Blockchain Technology

  • Healthcare

  • Technical Applications

  • Advantages of Blockchain in Healthcare

  • Market Dynamics

  • Drivers

  • Restraints

  • Opportunities

  • Challenges

  • Blockchain Application Areas

  • Drug Discovery and Pharmaceutical Research

  • Clinical Trials

  • Medical Fraud Detection

  • Billing Claims Management

  • Healthcare Data Management

  • Future of Blockchain in Healthcare

  • Impact of COVID-19 on Blockchain Technology in the Healthcare Market

  • Analysis of Market Opportunities

  • Investments/Funding of Blockchain in the Healthcare Industry

  • Patent Analysis

  • Overview

  • Porter's Five Forces Analysis

  • Bargaining Power of Suppliers

  • Bargaining Power of Consumers

  • Threat of Substitutes

  • Threat of New Entrants

  • Degree of Competition


Chapter 4 Market Breakdown by Deployment Mode

  • Introduction

  • Public

  • Private

  • Hybrid


Chapter 5 Market Breakdown by End User

  • Introduction

  • Hospitals

  • Pharmaceutical Companies

  • Insurance Providers

  • Others


Chapter 6 Market Breakdown by Application

  • Introduction

  • Supply Chain Management

  • Clinical Data Exchange and Interoperability

  • Claims Adjustment and Billing Management

  • Others


Chapter 7 Market Breakdown by Region

  • Introduction

  • North America

  • US

  • Canada

  • Mexico

  • Europe

  • Germany

  • UK

  • France

  • Rest of Europe

  • Asia-Pacific

  • China

  • Japan

  • India

  • Rest of Asia-Pacific

  • Rest of the World

…………….. ToC continued

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