Blockchain Technology in Healthcare Market - Global Forecast to 2023: Market to Grow at a Staggering CAGR of 72.8%
DUBLIN, July 25, 2018 /PRNewswire/ --
The "Blockchain Technology in Healthcare Market by Application (Supply Chain Management, Clinical Data Exchange, Interoperability, Claims Adjudication & Billing), End User (Pharmaceutical Companies, Healthcare Payers, Providers) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
Blockchain technology in the healthcare market is projected to reach USD 829.02 million by 2023 from USD 53.9 million in 2018, at a CAGR of 72.8%.
Factors such as increasing incidences of medical data breaches, rising entrance of counterfeit medicines in the pharmaceutical supply chain, adequate funding to healthcare blockchain startups, government initiatives to implement blockchain in healthcare, and increasing adoption of blockchain as a service (BaaS) are driving the growth of the healthcare blockchain market.
The report analyzes the healthcare blockchain market by application, end user, and region. On the basis of application, the market is segmented into supply chain management, clinical data exchange and interoperability, claims adjudication and billing management, and other applications. In 2018, supply chain management segment is expected to account for the largest share of the market due to the implementation of stringent regulations such as the Drug Quality and Security Act (DQSA) in the US and the Falsified Medicines Directive (FMD) in Europe to address the increasing incidences of counterfeit medicines is driving the adoption of the blockchain technology in healthcare supply chain management.
Based on end user, the market is classified into pharmaceutical companies, healthcare payers, healthcare providers, and other end users. Pharmaceutical companies segment is expected to account for the largest share of the healthcare blockchain market in 2018. Stringent regulations to secure pharmaceutical supply chain and increasing incidence of counterfeit drugs entering the supply chain are factors boosting the adoption of blockchain in the pharmaceutical industry.
In 2018, North America accounted for the largest share of the market, followed by Europe. The large share of North America is attributed to increasing incidence if 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.
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 this market to a certain extent.
Key Topics Covered:
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Limitations
1.5 Currency
1.6 Stakeholders
2 Research Methodology
2.1 Research Approach
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primaries
2.1.2.3 Key Industry Insights
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Assumptions for the Study
3 Executive Summary
4 Premium Insights
4.1 Healthcare Blockchain: Market Overview
4.2 Europe: Healthcare Blockchain Market, By Country & Application
4.3 Geographical Snapshot of the Healthcare Blockchain Market
4.4 Healthcare Blockchain Market: Regional Mix
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Incidence of Healthcare Data Breaches
5.2.1.2 Increasing Threat of Counterfeit Drugs
5.2.1.3 Increasing Adoption of Blockchain as A Service (BaaS)
5.2.1.4 Transparency & Immutability of the Distributed Ledger Technology
5.2.1.5 Cost-Effective & Secured Data Interoperability Through Blockchain
5.2.2 Restraints
5.2.2.1 Reluctance to Disclose Data
5.2.2.2 Lack of A Central Entity & Common Set of Standards
5.2.3 Opportunities
5.2.3.1 Government Initiatives
5.2.3.2 Significant Increase in Funding Through Venture Capital Investments & Initial Coin Offering (ICO)
5.2.4 Challenges
5.2.4.1 Lack of Awareness & Understanding
5.2.4.2 Technical Challenges Pertaining to Scalability
6 Technology Overview
6.1 Introduction
6.2 Structure of Blockchain
6.3 Types of Blockchain
6.3.1 Public Blockchain
6.3.2 Private Blockchain
6.3.3 Consortium Blockchain (Permissioned Blockchain)
6.4 Healthcare Blockchain Consortiums
6.4.1 The Hyperledger Healthcare Working Group
6.4.2 Hashed Health Blockchain Consortium
6.4.3 The Mediledger Project
6.4.4 Humana, Multiplan, Optum, Quest Diagnostics and Unitedhealthcare Blockchain Group
6.4.5 Viant Blockchain Programme
6.5 Type of Blockchain Providers in Healthcare
6.5.1 Application and Solution Providers
6.5.2 Middleware, Infrastructure, and Protocol Providers
6.6 Potential Healthcare Applications of Blockchain
7 Healthcare Blockchain Market, By Application
7.1 Introduction
7.2 Supply Chain Management
7.3 Clinical Data Exchange & Interoperability
7.4 Claims Adjudication & Billing Management
7.5 Other Applications
8 Healthcare Blockchain Market, By End User
8.1 Introduction
8.2 Pharmaceutical Companies
8.3 Healthcare Payers
8.4 Healthcare Providers
8.5 Other End Users
9 Healthcare Blockchain Market, By Region
9.1 Introduction
9.2 North America
9.2.1 Us
9.2.2 Canada
9.3 Europe
9.3.1 Uk
9.3.2 Estonia
9.3.3 Germany
9.3.4 Rest of Europe (RoE)
9.4 Asia Pacific (APAC)
9.5 Rest of the World (RoW)
10 Competitive Landscape
10.1 Overview
10.2 Healthcare Blockchain Market: Vendor Venchmarking
10.3 Investments in Healthcare Blockchain Market
10.4 Competitive Scenario
10.4.1 Agreements, Collaborations, & Partnerships
10.4.2 Product Launches and Enhancements
10.4.3 Acquisitions
11 Company Profiles
11.1 IBM
11.2 Microsoft
11.3 Guardtime
11.4 Pokitdok
11.5 Gem
11.6 Hashed Health
11.7 Chronicled
11.8 Isolve
11.9 Patientory
11.10 Factom
11.11 Emerging Healthcare Blockchain Companies
11.11.1 Medicalchain
11.11.2 Proof.Work
11.11.3 Simplyvital Health
11.11.4 Farmatrust
11.11.5 Blockpharma
For more information about this report visit https://www.researchandmarkets.com/research/8h3gf3/blockchain?w=5
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