Global Blockchain in Healthcare Market Forecast to 2027
Emergen Research's new report, titled 'Global Blockchain in Healthcare Market,' is methodically curated by our team of analysts with readers' comprehension in mind, and includes a comprehensive database of industry distribution. The report examines historical and current market scenarios in order to forecast the global Blockchain in Healthcare Market outlook over the forecast period (2020-2027). Researchers took a comprehensive approach to global market analysis, highlighting the factors that influence the market's overall growth. The research employs effective analytical tools such as SWOT analysis and Porter's Five Forces to examine the strengths, weaknesses, opportunities, and threats associated with the growth of various market segments.
The global blockchain in healthcare Market is expected to reach USD 5,798.0 Million by 2027, according to a new report by Emergen Research. The blockchain in healthcare is observing a high growth rate attributable to its rising application in supply chain management (SCM), clinical data exchange interoperability, and claims adjustment billing management, among others. Several hospitals and organizations are implementing the blockchain technology to record, analyze, and monitor patient information. Moreover, there is an increase in the supply of counterfeit drugs, and this issue can be restrained by adopting the blockchain technology in the healthcare sector. Initiatives are being taken by the government across the globe to tackle the situation.
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Competitive Terrain:
The global Blockchain in Healthcare industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
IBM, Microsoft, Gem, Chronicled, Hashed Health, Factom, Guardtime, Pokitdok, Patientory, and Blockpharma
Research Report on the Blockchain in Healthcare Market Addresses the Following Key Questions:
- Who are the dominant players of the Blockchain in Healthcare market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Blockchain in Healthcare market?
- What are the key growth drivers and restraining factors of the Blockchain in Healthcare market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Blockchain in Healthcare market and its key segments?
Market Overview:
The report bifurcates the Blockchain in Healthcare market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Type Outlook (Revenue, USD Billion; 2017-2027)
- Permissioned/Private Blockchain
- Permissionless/Public Blockchain
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Supply Chain Management
- Clinical Data Exchange Interoperability
- Claims Adjustment Billing Management
- Others
- End-Users Outlook (Revenue, USD Billion; 2017-2027)
- Pharmaceutical Companies
- Healthcare Providers
- Healthcare Payers
- Others
Regional Landscape section of the Blockchain in Healthcare report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Key Highlights from the Report
- By type, permissioned blockchain is likely to grow at a significant rate in the forecast period. Permissioned blockchain is a private system and offers faster processing of transactions, better privacy, and enhanced security. These developed and deployed for specific organizational demands. A growing requirement to give restricted access is causative of the market growth.
- By application, claims adjudication and billing is projected to grow at the fastest rate of 64.9% in the forecast period. It assists healthcare settings to manage duplication process and inappropriate filing. Moreover, it improves and assists in the management of accidental billing faults and uncertain transactions. Thus, it helps in improving the transparency, efficiency, and fast processing of claims.
- By end-users, the pharmaceutical companies dominated the blockchain in healthcare market in 2019. The increasing threat of data theft by hackers and rising incidences of counterfeit drugs are among the significant factors encouraging companies to adopt the blockchain technology.
- The market in the Asia Pacific region is projected to grow at the fastest rate of 66.3% in the forecast period attributed to a growing acceptance of IT solutions such as electronic health records, development of healthcare infrastructure, and a surging necessity for exchanging patients’’ information.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Blockchain in Healthcare market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
- Data and information related to the consumption rate in each region
- Estimated increase in the consumption rate
- Proposed growth of the market share of each region
- Geographical contribution to market revenue
- Expected growth rate of the regional markets
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