Blockchain Healthcare Market Industry Analysis and Forecast (2019-2027)

Posted by jay on February 10th, 2021

Blockchain Healthcare Market is expected to reach US$ XX Mn in 2027 from US$ XX Mn in 2019, at a CAGR of XX%. Blockchain Technology is the backbone of cryptocurrency transactions. It has multiple cross-industrial applications including healthcare sector. Blockchain technology will certainly revolutionize the Healthcare sector through its distributed public ledger system.

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.

Blockchain works on decentralized platforms. Transparency, cost reduction, elimination of third parties, cryptographic security, micro-payments, and immutability are the key advantages of blockchain solutions. The blockchain is going to be the important reason behind the digitization across various industrial verticals. The financial sector is the pioneer in exploring and adopting blockchain solutions for smart transactions. Healthcare is one of the other sectors focusing prominently on the blockchain. Blockchain will disrupt the Healthcare industry and will create growth opportunities, monetization avenues, and facilitate digital transformation. Around 16% of healthcare executives had definite plans to incorporate the technology this year, while 56% are expected to embrace it by 2020.

Technological advances in the information technology predominantly in the ability to record and store information conveniently and economically and sharing it securely among different applications and systems will positively affect the development in providing efficient health-care services. Blockchain technology is anticipated to be an answer for all of healthcare information system interoperability and security-related roadblocks.

The urgent need to improve interoperability and security of the healthcare information systems is the major driving force for the usage of blockchain technology in the healthcare market. Further, rising entrance of counterfeit medicines in the pharmaceutical supply chain, increasing incidences of medical data breaches, adequate funding to healthcare blockchain start-ups, government initiatives to implement blockchain in healthcare, and increasing adoption of blockchain as a service (BaaS) is fuelling the growth of the Blockchain Healthcare Market. Numerous effective use-cases of blockchain have already been witnessed, ranging from tracking of consent in clinical trials, pharma supply chain solutions to the development of healthcare information exchange platforms. The disruption prospects of Healthcare data exchange, health insurance, and clinical trials are expected to be large in the near future. However, lack of a central entity & common standards and lack of awareness & understanding of the use of blockchain technologies in the healthcare sector are expected to restrain the growth of Blockchain Healthcare Market to a certain extent.

The report segments the Blockchain Healthcare Market by application, end user, and region. In 2018, stringent laws like the falsified medicines directive (FMD) in Europe and the Drug Quality and Security Act (DQSA) are in operation to tackle the rising incidents of counterfeit medicines. Thus supply chain management segment is expected to account for the largest share amongst all the applications.

Considering the end users, Pharmaceutical companies segment is expected to account for the largest share pertaining to the tough regulations to secure pharmaceutical supply chain. Rising cases of counterfeit drugs entering the supply chain are boosting the adoption of blockchain in the pharmaceutical industry.

In the case of regions, North America is expected to hold the largest share of the Blockchain Healthcare Market, followed by Europe. The large share of North America can be credited to prevalent data breaches in the region, stringent regulations to improve pharmaceutical supply chain, growing incidences of fraudulent billings, and the rising need to address the dramatic rise in healthcare costs in the region.

Some of the prominent players in this market are Microsoft, IBM, Guardtime, PokitDok, Gem are some of the key players in Blockchain Healthcare Market.

The objective of the report is to present comprehensive Blockchain Healthcare Market for Asia Pacific including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.

The report also helps in understanding Blockchain Healthcare Market for Asia Pacific dynamics, structure by analyzing the market segments, and project the Blockchain Healthcare Market for Asia Pacific size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Blockchain Healthcare Market for Asia Pacific make the report investor’s guide.
The scope of the Blockchain Healthcare Market:

Blockchain Healthcare Market ,By Application

• Supply Chain Management
• Clinical Data Exchange and Interoperability
• Claims Adjudication and Billing Management
• Other Applications
Blockchain Healthcare Market ,By End User

• Pharmaceutical Companies
• Healthcare Payers
• Healthcare Providers
• Others
Blockchain Healthcare Market ,By Region

• North-America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
Blockchain Healthcare Market , Key Players:

Coral Health
Hashed Health
SimplyVital Health
Nebula Genomics

About Maximize Market Research:

Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Blockchain Healthcare Market. The report encompasses the Blockchain Healthcare Market by different segments and region, providing the in-depth analysis of the overall industry ecosystem, useful for taking an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Blockchain Healthcare Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Blockchain Healthcare Market positioning of competitors.

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About Maximize Market Research:
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Joined: December 15th, 2020
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