Press Resease

Blockchain Technology in Healthcare Market by Application (Clinical Data Exchange & Interoperability, Supply Chain Management, and Claims Settlement & Billing) and End User (Healthcare Payers, Pharmaceutical Companies, and Healthcare Providers): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024

Published Date: 07-Sep-2018 Category: Healthcare Report Format : PDF Pages: 110 Report Code: ZMR-3252 Status : Published

Global blockchain technology in healthcare market is expected to generate revenue of around USD 1415.59 million by end of 2024, growing at a CAGR of around 70.45% between 2018 and 2024. Blockchain is a digital, public ledger of transactions comprising of a list of blocks (records) that can be viewed by everyone.

Description

The report covers forecast and analysis for the blockchain technology in healthcare market on a global and regional level. The study provides historical data from 2015 along with a forecast from 2018 to 2024 based on revenue (USD Million). The study includes drivers and restraints for the blockchain technology in healthcare market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the blockchain technology in healthcare market on a global as well as regional level.

In order to give the users of this report a comprehensive view of the blockchain technology in healthcare market, we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein an application segment is benchmarked based on their market size, growth rate, and general attractiveness.

Global Blockchain Technology in Healthcare Market

The report provides company market share analysis in order to give a broader overview of the key players in the blockchain technology in healthcare market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new application launch, agreements, partnerships, collaborations & joint ventures, research & development, regional expansion of major participants involved in the blockchain technology in healthcare market on the global and regional basis. 

The study provides a decisive view on the blockchain technology in healthcare market by segmenting the market based on application, end user, and regions. The segments have been analyzed based on present and future trends and the market is estimated from 2018 to 2024. The application segment has been segmented into clinical data exchange & interoperability, supply chain management, and claims settlement & billing. Supply chain management segment holds the maximum share of the application segment. Based on the end user, blockchain technology in healthcare market has been segmented into healthcare payers, pharmaceutical companies, and healthcare providers.

The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa with its further bifurcation into major countries including the U.S. Canada, Germany, France, the UK, China, Japan, India, and Brazil. This segmentation includes demand for blockchain technology in healthcare based on individual segment and applications in all the regions and countries.

The report also includes detailed profiles of end players such as Microsoft, IBM, PokitDok, Guardtime, Gem, iSolve, Chronicled, Hashed Health, Factom, Patientory, Proof.Work, FarmaTrust, SimplyVital Health, Medicalchain, and Blockpharma among others.

This report segments the Global Blockchain Technology in Healthcare Market as follows:

Global Blockchain Technology in Healthcare Market: By Application

  • Clinical Data Exchange & Interoperability
  • Supply Chain Management
  • Claims Settlement & Billing

Global Blockchain Technology in Healthcare Market: By End User

  • Healthcare Payers
  • Pharmaceutical Companies
  • Healthcare Providers

Global Blockchain Technology in Healthcare Market: By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

Table Of Content

  • Chapter 1. Introduction
    • 1.1. Report description and scope
    • 1.2. Research scope
    • 1.3. Research methodology
      • 1.3.1. Market research process
      • 1.3.2. Market research methodology
  •  
  • Chapter 2. Executive Summary
    • 2.1. Global Blockchain Technology in Healthcare market, 2017 - 2024 (USD Million)
    • 2.2. Global Blockchain Technology in Healthcare market : Snapshot
  •  
  • Chapter 3. Pediatric Medical Devices- Market Dynamics
    • 3.1. Introduction
    • 3.2. Market drivers
      • 3.2.1. Global Blockchain Technology in Healthcare market drivers: Impact analysis
      • 3.2.2. Increasing cases of medical data breach
      • 3.2.3. Growing number of fraudulent drugs and medicines
    • 3.3. Market restraints
      • 3.3.1. Absence of pivotal entity and universal standards
      • 3.3.2. Paucity of awareness and knowledge of blockchain technology
    • 3.4. Opportunities
      • 3.4.1. Growing use of Internet of Things (IoT) in healthcare
    • 3.5. Porter's five forces analysis
      • 3.5.1. Bargaining power of suppliers
      • 3.5.2. Bargaining power of buyers
      • 3.5.3. Threat from new entrants
      • 3.5.4. Threat from new substitutes
      • 3.5.5. Degree of competition
    • 3.6. Market attractiveness analysis
      • 3.6.1. Market attractiveness analysis, by application segment
      • 3.6.2. Market attractiveness analysis, by End Userr segment
      • 3.6.3. Market attractiveness analysis, by regional segment
  •  
  • Chapter 4. Global Blockchain Technology in Healthcare Market - Competitive Landscape
    • 4.1. Company Market Share Analysis
      • 4.1.1. Global Blockchain Technology in Healthcare Market: company market share, 2017
    • 4.2. Strategic Development
      • 4.2.1. Acquisitions & Mergers
      • 4.2.2. New Application Launch
      • 4.2.3. Agreements, Partnerships, Collaborations and Joint Ventures
      • 4.2.4. Research and Development, Regional Expansion
  •  
  • Chapter 5. Global Blockchain Technology in Healthcare Market - Application Segment Analysis
    • 5.1. Global Blockchain Technology in Healthcare Market: Application overview
      • 5.1.1. Global Blockchain Technology in Healthcare Market revenue share, by Application, 2017 and 2024
    • 5.2. Clinical Data Exchange & Interoperability
      • 5.2.1. Global Blockchain Technology in Healthcare Market for Clinical Data Exchange & Interoperability, 2017 - 2024 (USD Million)
    • 5.3. Supply Chain Management
      • 5.3.1. Global Blockchain Technology in Healthcare Market for Supply Chain Management, 2017 - 2024 (USD Million)
    • 5.4. Claims Settlement & Billing
      • 5.4.1. Global Blockchain Technology in Healthcare Market for Claims Settlement & Billing, 2017 - 2024 (USD Million)
  •  
  • Chapter 6. Global Blockchain Technology in Healthcare Market - End User Segment Analysis
    • 6.1. Global Blockchain Technology in Healthcare Market: End User overview
      • 6.1.1. Global Blockchain Technology in Healthcare Market revenue share, by End User, 2017 and 2024
    • 6.2. Healthcare Payers
      • 6.2.1. Global Blockchain Technology in Healthcare Market for Healthcare Payers, 2017 - 2024 (USD Million)
    • 6.3. Pharmaceutical Companies
      • 6.3.1. Global Blockchain Technology in Healthcare Market for Pharmaceutical Companies, 2017 - 2024 (USD Million)
    • 6.4. Healthcare Providers
      • 6.4.1. Global Blockchain Technology in Healthcare Market for Providers, 2017 - 2024 (USD Million)
  •  
  • Chapter 7. Global Blockchain Technology in Healthcare Market - Regional Segment Analysis
    • 7.1. Global Blockchain Technology in Healthcare Market: Regional overview
      • 7.1.1. Global Blockchain Technology in Healthcare Market revenue share, by region, 2017 and 2024
    • 7.2. North America
      • 7.2.1. North America Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
      • 7.2.2. North America Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.2.3. U.S.
        • 7.2.3.1. U.S. Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.2.3.2. U.S. Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.2.4. Canada
        • 7.2.4.1. Canada Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.2.4.2. Canada Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.2.5. Rest of North America
        • 7.2.5.1. Rest of North America Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.2.5.2. Rest of North America Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
    • 7.3. Europe
      • 7.3.1. Europe Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
      • 7.3.2. Europe Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.3.3. Germany
        • 7.3.3.1. Germany Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.3.3.2. Germany Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.3.4. U.K.
        • 7.3.4.1. U.K. Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.3.4.2. U.K. Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.3.5. France
        • 7.3.5.1. France Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.3.5.2. France Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.3.6. Italy
        • 7.3.6.1. Italy Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.3.6.2. Italy Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.3.7. Spain
        • 7.3.7.1. Spain Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.3.7.2. Spain Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.3.8. Russia
        • 7.3.8.1. Russia Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.3.8.2. Russia Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.3.9. Rest of Europe
        • 7.3.9.1. Rest of Europe Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.3.9.2. Rest of Europe Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
    • 7.4. Asia Pacific
      • 7.4.1. Asia Pacific Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
      • 7.4.2. Asia Pacific Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.4.3. China
        • 7.4.3.1. China Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.4.3.2. China Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.4.4. Japan
        • 7.4.4.1. Japan Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.4.4.2. Japan Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.4.5. India
        • 7.4.5.1. India Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.4.5.2. India Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.4.6. Australia
        • 7.4.6.1. Australia Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.4.6.2. Australia Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.4.7. Rest of Asia Pacific
        • 7.4.7.1. Rest of Asia Pacific Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.4.7.2. Rest of Asia Pacific Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
    • 7.5. Latin America
      • 7.5.1. Latin America Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
      • 7.5.2. Latin America Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.5.3. Brazil
        • 7.5.3.1. Brazil Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.5.3.2. Brazil Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.5.4. Mexico
        • 7.5.4.1. Mexico Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.5.4.2. Mexico Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.5.5. Argentina
        • 7.5.5.1. Argentina Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.5.5.2. Argentina Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.5.6. Rest of Latin America
        • 7.5.6.1. Rest of Latin America Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.5.6.2. Rest of Latin America Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
    • 7.6. Middle East and Africa
      • 7.6.1. Middle East and Africa Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
      • 7.6.2. Middle East and Africa Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.6.3. Saudi Arabia
        • 7.6.3.1. Saudi Arabia Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.6.3.2. Saudi Arabia Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.6.4. UAE
        • 7.6.4.1. UAE Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.6.4.2. UAE Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.6.5. South Africa
        • 7.6.5.1. South Africa Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.6.5.2. South Africa Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.6.6. Qatar
        • 7.6.6.1. Qatar Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.6.6.2. Qatar Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
      • 7.6.7. Rest of Middle East and Africa
        • 7.6.7.1. Rest of Middle East and Africa Blockchain Technology in Healthcare Market revenue, by Application, 2017 - 2024 (USD Million)
        • 7.6.7.2. Rest of Middle East and Africa Blockchain Technology in Healthcare Market revenue, by End User, 2017 - 2024 (USD Million)
  •  
  • Chapter 8. Company Profile
    • 8.1. Microsoft
      • 8.1.1. Overview
      • 8.1.2. Financials
      • 8.1.3. Therapy portfolio
      • 8.1.4. Business strategy
      • 8.1.5. Recent developments
    • 8.2. IBM
      • 8.2.1. Overview
      • 8.2.2. Financials
      • 8.2.3. Therapy portfolio
      • 8.2.4. Business strategy
      • 8.2.5. Recent developments
    • 8.3. PokitDok
      • 8.3.1. Overview
      • 8.3.2. Financials
      • 8.3.3. Therapy portfolio
      • 8.3.4. Business strategy
      • 8.3.5. Recent developments
    • 8.4. Guardtime
      • 8.4.1. Overview
      • 8.4.2. Financials
      • 8.4.3. Therapy portfolio
      • 8.4.4. Business strategy
      • 8.4.5. Recent developments
    • 8.5. Gem
      • 8.5.1. Overview
      • 8.5.2. Financials
      • 8.5.3. Therapy portfolio
      • 8.5.4. Business strategy
      • 8.5.5. Recent developments
    • 8.6. iSolve
      • 8.6.1. Overview
      • 8.6.2. Financials
      • 8.6.3. Therapy portfolio
      • 8.6.4. Business strategy
      • 8.6.5. Recent developments
    • 8.7. Chronicled
      • 8.7.1. Overview
      • 8.7.2. Financials
      • 8.7.3. Therapy portfolio
      • 8.7.4. Business strategy
      • 8.7.5. Recent developments
    • 8.8. Hashed Health
      • 8.8.1. Overview
      • 8.8.2. Financials
      • 8.8.3. Therapy portfolio
      • 8.8.4. Business strategy
      • 8.8.5. Recent developments
    • 8.9. Factom
      • 8.9.1. Overview
      • 8.9.2. Financials
      • 8.9.3. Therapy portfolio
      • 8.9.4. Business strategy
      • 8.9.5. Recent developments
    • 8.10. Patientory
      • 8.10.1. Overview
      • 8.10.2. Financials
      • 8.10.3. Therapy portfolio
      • 8.10.4. Business strategy
      • 8.10.5. Recent developments
    • 8.11. Proof.Work
      • 8.11.1. Overview
      • 8.11.2. Financials
      • 8.11.3. Therapy portfolio
      • 8.11.4. Business strategy
      • 8.11.5. Recent developments
    • 8.12. FarmaTrust
      • 8.12.1. Overview
      • 8.12.2. Financials
      • 8.12.3. Therapy portfolio
      • 8.12.4. Business strategy
      • 8.12.5. Recent developments
    • 8.13. SimplyVital Health
      • 8.13.1. Overview
      • 8.13.2. Financials
      • 8.13.3. Therapy portfolio
      • 8.13.4. Business strategy
      • 8.13.5. Recent developments
    • 8.14. Medicalchain
      • 8.14.1. Overview
      • 8.14.2. Financials
      • 8.14.3. Therapy portfolio
      • 8.14.4. Business strategy
      • 8.14.5. Recent developments
    • 8.15. Blockpharma
      • 8.15.1. Overview
      • 8.15.2. Financials
      • 8.15.3. Therapy portfolio
      • 8.15.4. Business strategy
      • 8.15.5. Recent developments

Methodology

Free Analysis

Blockchain is a digital, public ledger of transactions comprising of a list of blocks (records) that can be viewed by everyone. Blockchain is basically a string of computers. For a transaction or record to be verified and documented all the blocks must approve it. The recent transactions are recorded and joined to the chain in chronological order so that the participants can track the transactions. Every computer, which is connected to the network, receives a copy of the blockchain. Every block is comprised of a time stamp, a cryptographic hash of the previous block, and transaction data. A blockchain is designed in such a way that modification to the existing data is next to impossible. A peer-to-peer (P2P) network validates new blocks and manages a blockchain collectively by adhering to inter-node communication protocols. The current form of blockchain was developed by Satoshi Nakamoto in 2008. It was originally developed to act as a public transaction ledger of bitcoin.

Post-2014, there was a sudden rise in the investment to explore the application of blockchain technology in healthcare, transportation, insurance, supply chains, voting, and many more. One of the most revolutionary applications of blockchain technology is in healthcare. Multiple studies have suggested that blockchain technology can bring in much-needed transformation in the healthcare sector. The most important application of blockchain technology in healthcare is in the management of health data. The security and interoperability of health data can be improved exceptionally by using blockchain technology in healthcare. This technology has the potential to make electronic health records (EHR) more safe, dynamic, and devoid of any mediation. Interoperability is the key factor that can unlock the true potential of health information exchange (HIE). Interoperability can be described as the capacity of systems and devices to exchange data and interpreting the received data. Implementing blockchain technology in healthcare can significantly eradicate the disharmony caused due to the intermediaries.

Global Blockchain Technology in Healthcare Market

Blockchain technology in healthcare can transform the way data is processed in the healthcare industry. As the number of patients keeps rising, the data volume will keep growing. Hospitals and clinics will find it difficult to store and process such high volumes of information. By creating a blockchain, healthcare providers will be able to add and access patient data with relative ease. Different types of medical data that include insurance claims, patient health information (PHI), electronic health records (EHR), and data collected from monitoring systems can be accessed by both healthcare providers and covered entities. By using blockchain technology in healthcare, the information can be secured and verified.   
 
Aspects like increasing cases of medical data breach, growing number of fraudulent drugs and medicines, rising investment in blockchain technology startups working in healthcare sector will push the growth of global blockchain technology in healthcare market. Other factors like the growing adoption of blockchain as a service (BaaS) solutions and government initiatives in implementing blockchain technology in healthcare are expected to drive the market growth. The growing use of Internet of Things (IoT) in healthcare will act as a major opportunity for the companies working in the blockchain technology in healthcare market. However, factors like absence of pivotal entity and universal standards, paucity of awareness, and knowledge of blockchain technology will restrain the growth of blockchain technology in healthcare market.

The global blockchain technology in healthcare market has been segmented into application, end user, and region. The application segment has been segmented into clinical data exchange & interoperability, supply chain management, and claims settlement & billing. Supply chain management segment holds the maximum share of the application segment. Based on end user, blockchain technology in healthcare market has been segmented into healthcare payers, pharmaceutical companies, and healthcare providers.

North America will remain the dominant region during the forecast period. Presence of developed IT infrastructure and presence of key startups working on blockchain technology will boost the market in this region. Europe will be the second largest market. Asia Pacific will grow at the fastest rate over the forecast period. High penetration of internet and steps taken by government to implement blockchain technology in healthcare are driving factors for the growth of market in this region. Latin America market is projected to grow at a moderate rate during the forecast period. The Middle East and Africa are expected to experience noticeable growth in the years to come.

Some of the key players in blockchain technology in healthcare market include Microsoft, IBM, PokitDok, Guardtime, Gem, iSolve, Chronicled, Hashed Health, Factom, Patientory, Proof.Work, FarmaTrust, SimplyVital Health, Medicalchain, and Blockpharma, among others.

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