- Clinical Data Exchange & Interoperability
- Supply Chain Management
- Claims Settlement & Billing
Block Chain Technology in Healthcare Market was valued at USD 2.37 billion in 2022 and is poised to grow at a significant CAGR of 52.5% from 2023-2029. The rising cases of data breaches as well as information leaks, and also the development of inefficient healthcare database systems and the application of block as a service (BaaS), as well as the increasing need for clear and immutable distributed ledgers, are propelling the development of the Blockchain in Healthcare Market. Adoption of blockchain will address concerns such as efficient data sharing among healthcare professionals, which will boost the likelihood of accurate diagnosis, successful treatment, and healthcare organisations overall capacity to deliver cost-effective care. Furthermore, rising government schemes, increased expenditures in the creation of efficient medical record systems, and rising concerns about patient confidentiality are all driving the market forward. For instance, in 2019, the European Union's Falsified Medicine Directive went into effect. These prescription medicines came with a security feature that allowed hospitals, pharmacies, and health professionals to check their validity, opening up new business potential. The Blockchain is a decentralised system that records, stores, and maintains commercial or historical records throughout a peer-to-peer network of distributed computers which is also known as nodes. In other words, it's a public, irreversible digital ledger that works similarly and correspondingly to a database. As a formidable and disruptive technology that can trigger a seismic upheaval in any industry, blockchain is required. Blockchain in healthcare has a number of advantages, including internet infrastructure protection at all levels, a standardised pattern of consent to access electronic health records, and proof of identity. Furthermore, a lack of awareness of the benefits of block chain technology in the healthcare market, as well as a scarcity of experienced personnel, could stifle the market's growth. The majority of blockchain applications are used for the BFSI sector, and people lack sufficient information and comprehension of these technologies, which can stifle industry size.
Block Chain Technology In Healthcare Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
52.5%
Largest Market
North America
Fastest Growing Market
Europe
Dynamics
Increasing incidence of medical data breaches, rise in entrance of counterfeit medicines in the pharmaceutical supply chain and increasing adoption of block chain as a service (Baas) are the major factors driving the growth of the market over the forecasted period. In addition, government support and initiation to implement block chain in healthcare and adequate funding to the startups in block chain in healthcare expected to offer significant growth for the Block Chain Technology in Healthcare market. However, stringent regulatory policies and lack of awareness regarding block chain are expected the hinder the growth of the Block Chain Technology in Healthcare market in the forecasted years
North-America got significant share
Block Chain Technology in Healthcare Market
Geographically, global block chain technology in healthcare market is widespread into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America is the dominating the market share of the block chain technology in healthcare market due to the increase in counterfeit drugs entry and implementation of stringent regulations such as Drug Quality and Security Act in U.S. and FMD. Europe is also contributing good share in the Block Chain Technology in Healthcare market. Asia pacific market is expected to show significant growth over the forecasted period.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The report provides granular level information about the market size, regional market share, historic market (2018-2022) and forecast (2023-2029)
- The report covers in-detail insights about the competitors overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startups details that are actively working in the market
- The report provides a plethora of information about market entry strategies, regulatory framework and reimbursement scenari0
Block Chain Technology In Healthcare Market Segmentation
By Application
By End User
- Healthcare Payers
- Pharmaceutical Companies
- Healthcare Providers
By Geography
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa,
Frequently Asked Questions
The key segments covered in the Block Chain Technology in Healthcare Market are technology, components, application, and end-users.
The Block Chain Technology in Healthcare Market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
The Block Chain Technology in Healthcare Market key players IBM (US), Microsoft (US), Guardtime (Estonia), PokitDok (US), Gem (US), Chronicled (US), iSolve (US), Hashed Health (US), Patientory (US), Factom (US), Work (UK), SimplyVital Health (US), FarmaTrust (UK), Blockpharma (France), Medicalchain (UK)
- Executive Summary
- Global Block Chain Technology in Healthcare Market Introduction
- Global Block Chain Technology in Healthcare Market - Taxonomy
- Global Block Chain Technology in Healthcare Market -Definitions
- Application Type
- End User Type
- Global Block Chain Technology in Healthcare Market Dynamics
- Drivers
- Restraints
- Opportunities/Unmet Needs of the Market
- Trends
- Global Block Chain Technology in Healthcare Market Dynamics - Factors Impact Analysis
- Global Block Chain Technology in Healthcare Market Analysis, 2018-2022 and Forecast, 2023-2029
- Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Market Opportunity Analysis
- Global Block Chain Technology in Healthcare Market, By Application Type, 2018-2022 and Forecast, 2023-2029
- Clinical Data Exchange & Interoperability
- Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
- Market Opportunity Analysis
- Supply Chain Management
- Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
- Market Opportunity Analysis
- Claims Settlement & Billing
- Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
- Market Opportunity Analysis
- Clinical Data Exchange & Interoperability
- Global Block Chain Technology in Healthcare Market Forecast, By End User, 2018-2022 and Forecast, 2023-2029
- Healthcare Payers
- Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
- Market Opportunity Analysis
- Pharmaceutical Companies
- Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
- Market Opportunity Analysis
- Healthcare Providers
- Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
- Market Opportunity Analysis
- Healthcare Payers
- Global Block Chain Technology in Healthcare Market Forecast, By Region, 2018-2022 and Forecast, 2023-2029
- North America
- Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
- Market Opportunity Analysis
- Europe
- Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
- Market Opportunity Analysis
- Asia Pacific
- Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
- Market Opportunity Analysis
- Latin America
- Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
- Market Opportunity Analysis
- The Middle East & Africa
- Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
- Market Opportunity Analysis
- Global Block Chain Technology in Healthcare Market - Opportunity Analysis Index, By Application, By End User, and Region, 2023-2029
- North America
- North America Block Chain Technology in Healthcare Market Analysis, 2018-2022 and Forecast, 2023-2029
- Application Analysis (2018-2022) and Forecast (2023-2029) by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
- Clinical Data Exchange & Interoperability
- Supply Chain Management
- Claims Settlement & Billing
- End User Analysis (2018-2022) and Forecast (2023-2029) by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
- Healthcare Payers
- Pharmaceutical Companies
- Healthcare Providers
- Country Analysis (2018-2022) and Forecast (2023-2029) by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
- US.
- Canada
- North America Block Chain Technology in Healthcare Market - Opportunity Analysis Index, By Application, By End User, and Country, 2023-2029
- North America Block Chain Technology in Healthcare Market Dynamics - Trends
- Application Analysis (2018-2022) and Forecast (2023-2029) by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
- Europe Block Chain Technology in Healthcare Market Analysis, 2018-2022 and Forecast, 2023-2029
- Application Analysis (2018-2022) and Forecast (2023-2029) by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
- Clinical Data Exchange & Interoperability
- Supply Chain Management
- Claims Settlement & Billing
- End User Analysis (2018-2022) and Forecast (2023-2029) by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
- Healthcare Payers
- Pharmaceutical Companies
- Healthcare Providers
- Country Analysis (2018-2022) and Forecast (2023-2029) by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
- UK.
- Germany
- France
- Spain
- Italy
- Europe Block Chain Technology in Healthcare Market - Opportunity Analysis Index, By Application, By End User, and Country, 2023-2029
- Europe Block Chain Technology in Healthcare Market Dynamics - Trends
- Application Analysis (2018-2022) and Forecast (2023-2029) by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
- Asia Pacific Block Chain Technology in Healthcare Market Analysis, 2018-2022 and Forecast, 2023-2029
- Application Analysis (2018-2022) and Forecast (2023-2029) by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
- Clinical Data Exchange & Interoperability
- Supply Chain Management
- Claims Settlement & Billing
- End User Analysis (2018-2022) and Forecast (2023-2029) by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
- Healthcare Payers
- Pharmaceutical Companies
- Healthcare Providers
- Country Analysis (2018-2022) and Forecast (2023-2029) by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
- China
- Japan
- Philippines
- Asia Pacific Block Chain Technology in Healthcare Market - Opportunity Analysis Index, By Application, By End User, and Country, 2023-2029
- Asia Pacific Block Chain Technology in Healthcare Market Dynamics - Trends
- Application Analysis (2018-2022) and Forecast (2023-2029) by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
- Latin America Block Chain Technology in Healthcare Market Analysis, 2018-2022 and Forecast, 2023-2029
- Application Analysis (2018-2022) and Forecast (2023-2029) by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
- Clinical Data Exchange & Interoperability
- Supply Chain Management
- Claims Settlement & Billing
- End User Analysis (2018-2022) and Forecast (2023-2029) by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
- Healthcare Payers
- Pharmaceutical Companies
- Healthcare Providers
- Country Analysis (2018-2022) and Forecast (2023-2029) by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
- Brazil
- Mexico
- Argentina
- Chile
- Ecuador
- Latin America Block Chain Technology in Healthcare Market - Opportunity Analysis Index, By Application, By End User, and Country, 2023-2029
- Latin America Block Chain Technology in Healthcare Market Dynamics - Trends
- Application Analysis (2018-2022) and Forecast (2023-2029) by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
- Middle East and Africa Block Chain Technology in Healthcare Market Analysis, 2018-2022 and Forecast, 2023-2029
- Application Analysis (2018-2022) and Forecast (2023-2029) by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
- Clinical Data Exchange & Interoperability
- Supply Chain Management
- Claims Settlement & Billing
- End User Analysis (2018-2022) and Forecast (2023-2029) by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
- Healthcare Payers
- Pharmaceutical Companies
- Healthcare Providers
- Country Analysis (2018-2022) and Forecast (2023-2029) by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
- GCC Countries
- Egypt
- Turkey
- Middle East and Africa Block Chain Technology in Healthcare Market - Opportunity Analysis Index, By Application, By End User, and Country, 2023-2029
- Middle East and Africa Block Chain Technology in Healthcare Market Dynamics - Trends
- Application Analysis (2018-2022) and Forecast (2023-2029) by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
- Competition Landscape
- Strategic Dashboard of Top Market Players
- Company Profiles (Introduction, Financial Analysis, Drug Class & Service Offerings, Key Developments, Strategies, and SWOT Analysis)
- IBM (US)
- Microsoft (US)
- Guardtime (Estonia)
- PokitDok (US)
- Gem (US)
- Chronicled (US)
- iSolve (US)
- Hashed Health (US)
- Patientory (US)
- Factom (US)
- Work (UK)
- SimplyVital Health (US)
- FarmaTrust (UK)
- Blockpharma (France)
- Medicalchain (UK)
- Research Methodology
15. Key Assumptions and Acronyms
- IBM (US)
- Microsoft (US)
- Guardtime (Estonia)
- PokitDok (US)
- Gem (US)
- Chronicled (US)
- iSolve (US)
- Hashed Health (US)
- Patientory (US)
- Factom (US)
- Work (UK)
- SimplyVital Health (US)
- FarmaTrust (UK)
- Blockpharma (France)
- Medicalchain (UK)