Emerging players in healthcare blockchain market are IBM (US), Microsoft (US), Guardtime (Estonia), PokitDok (US), Gem (US), Chronicled (US), iSolve (US), Hashed Health (US), Patientory (US), Factom (US), Proof.Work (UK), SimplyVital Health (US), FarmaTrust (UK), Blockpharma (France), and Medicalchain (UK).
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The healthcare blockchain market is expected to reach USD 829 million by 2023 from USD 53.9 million in 2018, at a CAGR of 72.8%. The increasing incidence of healthcare data breaches, rising threat of counterfeit drugs, increasing adoption of blockchain as a service (BaaS), and the transparency & immutability of the distributed ledger technology are major factors driving the growth of the market.
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The overall vision for blockchain to disrupt healthcare in the future would be to solve many issues that plague the industry today to create a common database of health information that doctors and providers could access no matter what electronic medical system.
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Health information technology and information security specialists are hearing a lot about blockchain these days.
Growing businesses demand the need to bring revolutionary changes in all the aspects of their businesses as time and technology progress. When it comes to the field of health care, the urgency of growth escalates to higher levels.
Quality healthcare services backed up with the latest technology is the need for today.
Objectives of the Study
- To define, describe, and forecast the healthcare blockchain market on the basis of application, end user, and region
- To forecast the size of the healthcare blockchain market with respect to four main regions, namely, North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW)
- To provide detailed information about factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
- To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze the opportunities in the market for stakeholders and provide details of the competitive leadership mapping for market leaders
- To profile key players in the healthcare blockchain market and comprehensively analyze their core competencies and market shares
- To track and analyze competitive developments such as acquisitions; product launches; collaborations, partnerships, and agreements in the market
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The report analyzes the healthcare blockchain market by application, end user, and region. On the basis of application, the market is segmented into supply chain management, clinical data exchange and interoperability, claims adjudication and billing management, and other applications.
Key Insights of Blockchain in Healthcare
- Government agencies
- Blockchain technology vendors
- Network solution providers
- Independent software vendors
- Payment gateway providers
- Value-added resellers
- Blockchain security providers
- Infrastructure and protocol providers
- Venture capitalists and start-ups
- Healthcare blockchain end users
- Business research and consulting firms
Factors such as increasing incidences of medical data breaches, rising entrance of counterfeit medicines in the pharmaceutical supply chain, adequate funding to healthcare blockchain startups, government initiatives to implement blockchain in healthcare, and increasing adoption of blockchain as a service (BaaS) are driving the growth of the healthcare blockchain market.
More Information on “Blockchain Technology in Healthcare Market by Application (Supply Chain Management, Clinical Data Exchange & Interoperability, Claims Adjudication and Billing), End User (Pharmaceutical Companies, Healthcare Payers, Providers) - Global Forecast to 2023” report @ www.rnrmarketresearch.com/contacts…ing?rname=1589583 .
Blockchain technology in healthcare market is classified into pharmaceutical companies, healthcare payers, healthcare providers, and other end users. Pharmaceutical companies segment is expected to account for the largest share of the healthcare blockchain market in 2018.
Break of primary participants was as mentioned below:
- By Company Type – Tier 1–26%, Tier 2–45% and Tier 3–29%
- By Designation – C-level–34%, Director Level–32%, Others–34%
- By Region – North America–42%, Europe–27%, Asia Pacific–16%, Rest of the World–15%
Stringent regulations to secure pharmaceutical supply chain and increasing incidence of counterfeit drugs entering the supply chain are factors boosting the adoption of blockchain in the pharmaceutical industry.
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