Press release
What's driving the Blockchain Technology in Healthcare market Share ? IBM, Microsoft, Guardtime, PokitDok, Gem Health, iSolve, LLC, FarmaTrust, Medicalchain, EncrypGen, SimplyVitalHealth, Blockpharma, Doc.AI, Nebula Genomics, Embleema and Patientory
China dominated the Asia Pacific blockchain technology in healthcare market in the year 2018 and was valued at around USD 2.6 million. China is actively promoting the applications of blockchain technology in healthcare in order to create smooth and streamlined business operations that will help the country gain competitive edge over other countries across the globe. Hence, rise in awareness, promotion and adoption of blockchain in the country will enhance the business growth.
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Blockchain Technology in Healthcare Market will exceed USD 1,636.7 million by 2025; as per a new research report. Rising need to store as well as secure medical data in healthcare facilities across the globe will enhance the growth of blockchain technology in healthcare market. Medical and health records increase awareness among the healthcare providers by giving in-depth information and history of the patient. Also, medical personnel are able to operate more efficiently when they are able to source healthcare information. The systems used to store patient information are vulnerable to hackers and hence have low interoperability level. Hence, growing need to secure the health data and medical information will spur the business growth in forthcoming years.
Use of blockchain technology in pharmaceutical companies was valued around USD 21.5 million in the year 2018. As per the Pistoia Alliance, a not-for-profit alliance of life science companies, almost 60% of the life science and pharmaceutical companies are either experimenting or implementing blockchain as compared to only 22% in 2017. Pharmaceuticals industry is worth around USD 466 billion in the U.S. and concerns regarding transparency and privacy of clinical trials will lead to increased adoption of blockchain technology.
Estonia blockchain technology in healthcare market will witness a robust growth of 69.4% over the forecast timeframe. In the year 2016, Estonia became the first country to integrate and implement blockchain technology for healthcare at a national scale. The government launched a development project that aimed at securing all the patient health records with the help of blockchain technology. Growing adoption of blockchain in the country for several healthcare applications will enhance the market growth in the near future.
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Some of the notable players in blockchain technology in healthcare market include IBM, Microsoft, Guardtime, PokitDok, Gem Health, iSolve, LLC, FarmaTrust, Medicalchain, EncrypGen, SimplyVitalHealth, Blockpharma, Doc.AI, Nebula Genomics, Embleema and Patientory. The strategy adopted by major players include acquisitions, partnerships and collaborations. Also, product innovations and new product development will help them gain an upper hand among other major market players.
Table of Content:
Chapter 1. Methodology
1.1. Methodology
1.2. Market definition
1.3. Forecast parameters
1.4. Data sources
1.4.1. Secondary
1.4.1.1. Paid sources
1.4.1.2Unpaid sources
1.4.2. Primary
Chapter 2. Executive Summary
2.1. Blockchain technology in healthcare industry 360 degree synopsis, 2016 - 2025
2.1.1. Business trends
2.1.2. Application trends
2.1.3. End-use trends
2.1.4. Regional trends
Chapter 3. Global Blockchain Technology in Healthcare Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 - 2025
3.3. Industry background
3.4. Industry impact forces
3.4.1. Growth drivers
3.4.1.1. Increasing risk of counterfeit drugs
3.4.1.2 Growing incidence of medical data breaches
3.4.1.3 Increased application of Internet of Things (IoT) in healthcare
3.4.1.4 Cost-savings in several healthcare applications
3.4.1.5 Rising need to store and secure medical data
3.4.1.6 Interoperability
3.4.2. Industry pitfalls & challenges
3.4.2.1. Lack of technical infrastructure in developing countries
3.4.2.2 Lack of skilled professionals
3.4.2.3 Absence of necessary regulatory norms
3.4.2.4 Lack of awareness and trust
3.5. Growth potential analysis
3.5.1. By application
3.5.2. By end-user
3.6. Types of Blockchain
3.6.1. Public
3.6.2. Private
3.6.3. Consortium
3.7. Startup scenario
3.8. Regulatory landscape
3.9. Innovative landscape
3.10. Investment landscape
Chapter 4. Global Blockchain Technology in Healthcare Market, By Application
4.1. Global blockchain technology in healthcare market share, by application, 2018 & 2025
4.2. Data exchange and interoperability
4.2.1. Market size, by region, 2016 - 2025 (USD Million)
4.3. Claims adjudication and billing management
4.3.1. Market size, by region, 2016 - 2025 (USD Million)
4.4. Drug supply chain integrity
4.4.1. Market size, by region, 2016 - 2025 (USD Million)
4.5. Clinical trials
4.5.1. Market size, by region, 2016 - 2025 (USD Million)
4.6. Cyber security and internet of medical things (IoMT)
4.6.1. Market size, by region, 2016 - 2025 (USD Million)
4.7. Others
4.7.1. Market size, by region, 2016 - 2025 (USD Million)
Chapter 5. Global Blockchain Technology in Healthcare Market, By End-use
5.1. Global blockchain technology in healthcare market share, by end-use, 2018 & 2025
5.2. Pharmaceutical companies
5.2.1. Market size, by region, 2016 - 2025 (USD Million)
5.3. Healthcare payers
5.3.1. Market size, by region, 2016 - 2025 (USD Million)
5.4. Healthcare providers
5.4.1. Market size, by region, 2016 - 2025 (USD Million)
5.5. Others
5.5.1. Market size, by region, 2016 - 2025 (USD Million)
Chapter 6. Global Blockchain Technology in Healthcare Market, By Region
Chapter 7 Company Profiles
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