openPR Logo
Press release

Blockchain Technology in Healthcare Market Size, With IBM, Microsoft, Guardtime, PokitDok, GEM Health Care Group Limited, Patientory Association, iSolve Technologies FZ LLC, FarmaTrust, Medicalchain, EncrypGen

03-07-2019 11:20 PM CET | Health & Medicine

Press release from: Global Market Insights, Inc

U.S. blockchain technology in healthcare market, by application, 2018 & 2025 (USD Million)

U.S. blockchain technology in healthcare market, by application, 2018 & 2025 (USD Million)

Increasing risk of counterfeit drugs will spur the growth of blockchain technology in healthcare market in the forthcoming years. In the last few years, there has been a steep rise in the number of counterfeit drugs in the market, killing an estimated 1 million people annually. According to the World Health Organization (WHO), around 10% of the medicines across the globe are counterfeit. Also, as per the Organization for Economic Co-operation and Development (OECD), counterfeit pharmaceutical industry amounts up to USD 200 billion. Blockchain technology has several application in securing vast data, decentralization, immutable record-keeping and potential to tackle the growing illegal industry by tracking drug movements. Rise in applications of blockchain technology in healthcare will augment the market growth.

Growing incidence of medical data breaches will result in increase in adoption of blockchain technology in healthcare. With the emerging new technologies, there has been increase in number of hackers and other forces devoted to exploiting vulnerabilities in these advancements. Recent advancements in homecare technology has helped provide critical services in improving patients health, but the growing concerns related to data storage and transmission of medical information will result in boosting the demand and adoption rate of blockchain technology, thereby fueling the industry growth.

Lack of technical infrastructure in various countries across the globe will be one of the major market impeding factors. In addition, lack of awareness and skilled work force will be other factors responsible for slow growth of blockchain technology market in healthcare.

Request for a sample of this research report @

Application of blockchain technology in data exchange and interoperability amounted to around USD 19.3 million in the year 2018. In the last few years, a significant amount of healthcare facilities have adopted Electronic Health Records (EHR), leading to advancements in digitizing healthcare system. Increase in number of volume-based medical practices such as hospitalizations, consultations, prescriptions and procedures have resulted in boosting the demand and adoption rate of blockchain technology in healthcare in order to safeguard the data. Hence, growing digitization in healthcare system has resulted in high demand for interoperability, augmenting the business growth.

Application of blockchain technology in drug supply chain integrity will witness considerable amount of growth at 67.0% over the forecast time period. Pharmaceutical supply chain is one of the major verticals that uses technologically driven solutions. However, drug supply chain is vulnerable to several adversities. Growing number counterfeit drugs supply across the globe has resulted in annual loss of USD 200 billion. The application of blockchain such as eliminating fraud, reducing delays from paperwork, improving inventory management, minimizing courier costs, increasing consumer and partner trust, and identifying issues more rapidly will help enhancing drug supply management, boosting the industry growth in future.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

 Microsoft
 Guardtime
 PokitDok
 GEM Health Care Group Limited
 Patientory Association
 iSolve Technologies FZ LLC
 FarmaTrust
 Medicalchain
 EncrypGen

Browse Full Report Details @

Use of blockchain technology in pharmaceutical companies was valued at around USD 21.5 million in the year 2018. As per Forbes, pharmaceutical industry is worth USD 466 billion in the Unites States. Increase in concerns regarding clinical trials and drug supply chain management has resulted in boosting the application of blockchain in securing and modernizing the pharmaceutical industry. The use of blockchain technology in pharma companies will help in securing information in clinical trials and clinical research studies. Hence, growing applications of blockchain technology in pharmaceutical companies will further boost the segmental growth.

Use of blockchain technology by healthcare payers will witness a robust CAGR of 65.7% over the projection period. The use of blockchain technology by the healthcare payers will eliminate the concerns regarding security violations and privacy. As a result, the technology will help open the patient management systems and electronic health records (EHR) to broad networks, allowing healthcare providers, payers, patients and other stake holders exchange crucial patient generated data and medical information. Hence, implementation of blockchain technology by the healthcare payers will augment the industry growth in the near future.

U.S. dominated the North America blockchain technology in healthcare market and was valued around USD 24.8 million in the year 2018. The U.S. healthcare industry has trouble managing large amount of patient information. Medical offices, doctors, hospitals, pharmacies, therapists and insurance companies need several data in order to take proper care of patients. Increase in demand and adoption rate of blockchain technology by the healthcare facilities in the Unites States will augment the market growth in the forthcoming years.

Switzerland blockchain technology in healthcare market is projected to grow at 73.3% over the forecast timeframe. Switzerland is one of the most attractive countries for blockchain due to its high level of blockchain knowledge, implementation rate, start-ups to experiment and excellent services. According to a recent research study, Switzerland is one of the most blockchain-friendly countries in Europe. Growing demand and adoption rate of blockchain technology in healthcare in the country will boost the industry growth in near future.

Make an inquiry for purchasing this report @

Some of the major players in the blockchain technology in healthcare market are IBM, Microsoft, Guardtime, PokitDok, Gem Health and others. The key players are focusing on new product innovation, development and launches. Implementation of major strategies such as merger, acquisition, partnerships and collaborations will help the companies cater to growing demand of major customers across the globe. For instance, in January 2019, Embleema, one of the major blockchain companies in healthcare, announced its partnership with Pharmagest Interactive in order to allow patients to download their health data from healthcare centers and pharmacies.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Blockchain Technology in Healthcare Market Size, With IBM, Microsoft, Guardtime, PokitDok, GEM Health Care Group Limited, Patientory Association, iSolve Technologies FZ LLC, FarmaTrust, Medicalchain, EncrypGen here

News-ID: 1640600 • Views: 1829

More Releases from Global Market Insights, Inc

Refractories Market 2020 by top key players Saint-Gobain, Morgan Advanced Materi …
Global Refractories Market size was estimated at USD 30 billion in 2018 and is projected to surpass USD 41 billion by the year 2025. Refractories market is classified into monolithic, brick & shapes and others. Other refractories products is expected to gain close to 3% by 2025. Other refractory products include ceramic fibers and refractories raw materials used for manufacturing refractories inhouse. Ceramic fibers are lightweight, has high temperature stability and
Offshore Crane Market Trends 2020 By Industry Players Liebherr Group, National O …
The size of the overall Offshore Crane Market was recorded at USD 2.5 billion in the year 2018 and is now projected to surpass around USD 5 billion by 2026. The ongoing exploration of new offshore oil & gas fields will surge the demand for offshore cranes. The growing demand for maintenance & repair of oil & gas extraction systems will drive the offshore crane market growth. The equipment is primarily
Assisted Reproductive Technology Market Top Players | Cooper Surgical Inc., Cook …
Assisted Reproductive Technology Market will reach over USD 32.5 billion by 2024; as per a new research report. Increasing number of people suffering from infertility issues coupled with rising awareness about assisted reproductive technology (ART) will drive ART market over the forecast timeframe. Furthermore, changing social factors and rising disposable income should positively impact industry expansion. Procedures such as in-vitro fertilization are offered at low cost in developing countries such as
What's driving the Lithopone Market growth? | Leading Key Players Titanos, Langf …
A report by DecResearch estimates that the lithopone market size will be valued at over $235 million by 2025. Rapid global urbanization has given rise to a thriving construction industry which is a significant contributor to the lithopone market growth. The strong reducing power and chemically inert nature of lithopone has led to its extensive application across numerous industries including paints & coatings, paper& pulp, rubber, leather, plastics and linoleum

All 5 Releases

More Releases for USD

$100,000,000 USD job contract for travel - $3,000,000 USD referral commission.
Khoja Consultants invites applications for companies, teams or venture capitalists for a $100,000,000 USD job contract for travel. The selected company will be providing all accommodations and expenses for a 6-month long business trip around the world. Khoja Consultants expects five-star treatment including close security with private planes, hotels, secured vehicles and helicopters if necessary. More details on the job contract and application are provided at - There
Polyurethane Dispersions Market worth USD 2.04 Billion USD by 2020
The report " Polyurethane Dispersions Market by Type (Water-Based Polyurethane Dispersions and Solvent-Based Polyurethane Dispersions), by Application (Coatings, Adhesives & Sealants, Synthetic Leather Production, Fiber Glass Sizing, and Others) - Trends & Forecasts to 2020", The global polyurethane dispersions market is projected to reach USD 2.04 Billion by 2020 at a CAGR of 6.8% between 2015 and 2020. This growth is fueled by the high potential from the textile and
Retail Analytics Market worth USD 5.1 Billion USD by 2020
According to a new market research report "Retail Analytics Market by Business Function (Marketing and Customer Analytics, Merchandizing and In-Store Analytics, Supply Chain Analytics, Strategy and Planning), by Type, by Solutions and by Services - Global Forecast and Analysis to 2020", defines and segments the global retail analytics market on the basis of business function, solutions, services, deployment types, and regions along with providing an in-depth analysis and market size
Metabolomics Market USD 1.24 Billion by 2020
The global metabolomics market is estimated to reach USD 1.24 Billion in 2020, growing at a CAGR of 15.6% from 2016 to 2020, according to a market research report Metabolomics Market 2013-2020, published by iHealthcareAnalyst, Inc. Visit the Metabolomics Market 2013-2020 report at Metabolomics is the scientific study of chemical processes involving metabolites, whereas metabolome represents the collection of all metabolites in a biological cell, tissue, organ or organism, which
Radiopharmaceuticals Market USD 350 Million by 2020
Radiopharmaceuticals Market 2013-2020 report estimates the global radiopharmaceuticals market to reach nearly USD 350 Million in 2020, at a CAGR of 4.9% from 2016 to 2020 - iHealthcareAnalyst, Inc. Visit the Radiopharmaceuticals Market 2013-2020 report Medicinal radiocompounds or radiopharmaceuticals are a group of pharmaceutical drugs which have radioactivity and they can be used as diagnostic and therapeutic agents. Radiopharmaceuticals are used in the field of nuclear medicine as radioactive tracers
Orthobiologics Market USD 5.8 Billion by 2020
Orthobiologics Market 2013-2020 report estimates the global orthobiologics market to reach nearly USD 5.8 Billion in 2020, at a CAGR of 6.2% from 2016 to 2020 - iHealthcareAnalyst, Inc. Visit the Orthobiologics Market 2013-2020 report The global orthobiologics market report provides market size (Revenue USD Million 2013 to 2020), market share and forecasts growth trends (CAGR%, 2016 to 2020). The global orthobiologics market segmentation is based on product types (allograft, bone