Blockchain technology in healthcare is estimated to grow at a CAGR of 64.4%, 2018-2026

by Arthur · November 22, 2022

Isle of Man, Nov. 22, 2022 (GLOBE NEWSWIRE) — Douglas Insights is pleased to add Blockchain technology to healthcare market research reports in its revolutionary comparison engine, helping market analysts, researchers and affiliates evaluate and compare market trends, growth and hindering factors, and geographical opportunities. The unique comparison engine allows customers to compare different public and private research reports based on price, publisher and number of pages. Douglas Insights’ unique digital tool makes work more accessible and efficient for customers, making their experience worthwhile.

Blockchain technology in healthcare allows the preservation and transfer of data between different healthcare providers in an effective, efficient and secure manner. As the use of electronic health records (EHRs) has increased among various healthcare institutions and their affiliated institutions, such as doctors, testing laboratories, pharmaceutical companies and hospitals, data security has become a major focus. Along with that, the easy data transfer has also become crucial, especially since all the healthcare systems in the systems have different infrastructures in place. Blockchain technology solves these problems and solves them with its secure network.

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Market insight

The increasing number of healthcare data breaches, the increase in the widespread supply of counterfeit medicines and the effectiveness of blockchain services are important factors contributing to the growth of blockchain technology in the healthcare sector. Various pharmaceutical companies are facing financial losses due to counterfeit drugs in the market, and blockchain can help mitigate the problem 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 sector has a CAGR of 64.4% in the forecast period from 2018 to 2026.

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

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

Despite increased funding and widespread use of blockchain in the healthcare sector, there are several factors that can hinder the market’s growth. Lack of proper data infrastructure is one of these factors, as faulty data collection and preservation methods do not provide accurate data when needed. Furthermore, various providers of healthcare services also lack trained professionals who can contribute their services to productive data collection, use and transfer.

Blockchain technology in the healthcare sector is segmented by application, end user, geography and critical players. The US healthcare digitization has long called for secure data transfer services. Therefore, blockchain technology in the healthcare sector will continue to be dominated by the United States. 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

Key data encryption and security companies such as Microsoft Corporation, IBM Corporation, SimplyVital Health Inc., Guardtime and Encrypgen have proven to be significant key market players in the adoption and innovation of blockchain technology. Nebula Genomics, evidence. Works, FarmaTrust and PokitDok, Inc. are some other key players creating new market waves.

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Blockchain Technology for Healthcare Market Report Coverage

Report Attributes	Details
Market size i 2018	USD ** billion
Market Size Projection i 2029	USD ** billion
CAGR (2018-2026)	64.4%
Largest market	North America
Report segmentation	By Application, By Distribution Mode, By End User, By Region
Regional analysis	North America (USA, Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Europe (UK, Germany, Italy, France, Spain, Russia and Rest of Europe), APAC (China, Japan , India, South Korea, Australia, ASEAN and the rest of Asia Pacific), ME (GCC countries, Israel and the rest of the Middle East) and Africa (South Africa, North Africa and Central Africa)
Key companies covered	Microsoft Corporation, IBM Corporation, SimplyVital Health Inc., Guardtime and Encrypgen have proven to be significant essential market players in the adoption and innovation of blockchain technology. Nebula Genomics, evidence. Works, FarmaTrust and PokitDok, Inc.

Segmentations

By deployment mode

Introduction
Public
Private
Hybrid

By end user

Introduction
Hospital
Pharmaceutical companies
Insurance providers
Second

Upon application

Key questions answered in this report

COVID 19 Impact Analysis on Global Healthcare Blockchain Technology.
What are the current market trends and dynamics in Blockchain technology for the healthcare sector and valuable opportunities for new entrants?
What is driving Blockchain technology to the healthcare market?
What are the most important challenges for market growth?
Which segment accounts for the fastest CAGR during the forecast period?
Which product type segment has a larger market share and why?
Are low- and middle-income economies investing in Blockchain technology for the healthcare sector?
Key growth pockets on the basis of regions, types, applications and end users
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America and the Middle East and Africa?

Unique data points in this report

Statistics on Blockchain Technology for Healthcare and Spending Worldwide
Recent trends across different regions in the use of Blockchain technology for healthcare across industries
Remarkable developments are taking place in the industry
Attractive investment proposition for segments as well as geography
Comparison scenario for all segments for the years 2018 (actual) and 2028 (forecast)

Table of contents:

chapter 1 Introduction

Study goals and objectives
Reasons for doing this study
Scope of the report
What’s new in this update?
Methodology
Intended target groups
Information sources
Geographical distribution
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
The Origins of Blockchain
Development of Blockchain
Market trends
Increasing use of blockchain in health claims and invoicing
Funding, investment and pilot projects that act as a catalyst for growth
Increasing use of blockchain technology in untapped medical fields
Trends in blockchain in the healthcare sector
Blockchain for improved collaboration and interoperability
Decentralized exchange of credentials
Tracking of prescription drugs
Smart contracts in the healthcare system
Market overview
Increasing use of blockchain technology
Health Service
Technical applications
Benefits of blockchain in healthcare
Market dynamics
Drivers
Limitations
Possibilities
Challenges
Blockchain application areas
Drug discovery and pharmaceutical research
Clinical studies
Detection of medical fraud
Handling of invoicing requirements
Data processing in the healthcare system
The future of blockchain in healthcare
The impact of COVID-19 on blockchain technology in the healthcare sector
Analysis of market opportunities
Investments/financing of blockchain in the health sector
Patent analysis
Overview
Porter’s five forces analysis
Bargaining power of suppliers
Consumers’ bargaining power
Threat of substitutes
Threat of new participants
Degree of competition

Chapter 4 Market distribution by distribution mode

Introduction
Public
Private
Hybrid

Chapter 5 Market distribution by end user

Introduction
Hospital
Pharmaceutical companies
Insurance providers
Second

Chapter 6 Market Distribution by Application

Chapter 7 Market distribution by region

Introduction
North America
US
Canada
Mexico
Europe
Germany
Great Britain
France
The rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
The rest of the world

………………….. ToC continued

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