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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

  • ID: 4594102
  • Report
  • Region: Global
  • 129 Pages
  • Markets and Markets
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The healthcare blockchain market is expected to reach USD 829.0 million by 2023 from USD 53.9 million in 2018, at a CAGR of 72.8%.

FEATURED COMPANIES

  • Blockpharma
  • Factom
  • Gem
  • Hashed Health
  • Isolve
  • Microsoft
  • MORE

Blockchain technology in the healthcare market is projected to grow at a CAGR of 72.8%.

The healthcare blockchain market is expected to reach USD 829.0 million by 2023 from USD 53.9 million in 2018, at a CAGR of 72.8%. The increasing incidence of healthcare data breaches, rising threat of counterfeit drugs, increasing adoption of blockchain as a service (BaaS), and the transparency & immutability of the distributed ledger technology are major factors driving the growth of the market. However, the reluctance to disclose data and the lack of a central entity & common set of standards are expected to restrain the growth of this market to a certain extent.

The claims adjudication and billing management segment is expected to register the highest CAGR during the forecast period.

On the basis of application, the global healthcare blockchain market is segmented into supply chain management, clinical data exchange and interoperability, claims adjudication and billing management, and other applications. The claims adjudication and billing management segment is expected to register the highest CAGR during the forecast period. The promising growth rate of this segment is attributed to the rise in billing-related fraudulent activities, growing medical tourism, and the need to automate transactions and payments.

The healthcare payers segment is expected to grow at the highest rate from 2018 to 2023.

The healthcare blockchain market is segmented by end users into pharmaceutical companies, healthcare payers, healthcare providers, and other end users. The healthcare payers segment is expected to register the highest CAGR during the forecast period due to the increasing need for secure health information exchange between providers and payers, rising insurance fraud, and the need to improve the operational efficiency of healthcare organizations.

Asia Pacific is projected to witness the highest growth during the forecast period.

The Asia Pacific healthcare blockchain market is projected to grow at the highest rate over the next five years. The improving healthcare infrastructure, growing adoption of EHR systems and other healthcare IT solutions, growing demand for information exchange between different stakeholders in the healthcare industry (owing to the rising medical tourism in this region), and the need to prevent counterfeit drugs from entering the supply chain in Asia are driving the growth of this regional segment.

Break of primary participants was as mentioned below:

  • By Company Type – Tier 1–26%, Tier 2–45% and Tier 3–29%
  • By Designation – C-level–34%, Director Level–32%, Others–34%
  • By Region – North America–42%, Europe–27%, Asia Pacific–16%, Rest of the World–15%

Prominent players in this market are IBM (US), Microsoft (US), Guardtime (Estonia), PokitDok (US), Gem (US), Chronicled (US), iSolve (US), Hashed Health (US), Patientory (US), Factom (US), Proof.Work (UK), SimplyVital Health (US), FarmaTrust (UK), Blockpharma (France), and Medicalchain (UK).

Research Coverage:

The report analyzes and aims at estimating the market size and future growth potential of the healthcare blockchain market for different segments such as application, end user, and region. The report also includes an in-depth competitive analysis of key players along with their company profiles, product offerings, recent developments, and key market strategies.

Reasons to Buy the Report

The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market. Firms purchasing the report could use one or any combination of the below-mentioned five strategies for strengthening the market, which in turn could help them garner a greater market share.

This report provides insights on the following pointers:

  • Market Penetration: Comprehensive information on product portfolios offered by top players in the market. The report analyzes the global healthcare blockchain market by application, end user, and region.
  • Product Development/Innovation: Detailed insights on upcoming trends and product launches in the market
  • Market Development: Comprehensive information on the lucrative emerging regions by product and service
  • Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
  • Competitive Assessment: In-depth assessment of growth strategies, and products of leading players in the healthcare blockchain market
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Blockpharma
  • Factom
  • Gem
  • Hashed Health
  • Isolve
  • Microsoft
  • MORE

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

12 Appendix
12.1 Insights of Industry Experts
12.2 Discussion Guide
12.3 Knowledge Store
12.4 Introducing RT: Real-Time Market Intelligence
12.5 Available Customizations
12.6 Related Reports
12.7 Author Details

List of Tables
Table 1 Home Healthcare Blockchain Market Snapshot
Table 2 Recent Examples of Data Breaches in the Healthcare Industry
Table 3 Drivers: Impact Analysis
Table 4 Restraints: Impact Analysis
Table 5 Opportunities: Impact Analysis
Table 6 Challenges: Impact Analysis
Table 7 Key Potential Applications of Blockchain Technology in Healthcare
Table 8 Healthcare Blockchain Market, By Application, 2016–2023 (USD Million)
Table 9 Supply Chain Management Blockchain Offerings By Key Market Players
Table 10 Key Blockchain Projects for Supply Chain Management
Table 11 Healthcare Blockchain Market for Supply Chain Management, By Region, 2016–2023 (USD Million)
Table 12 North America: Healthcare Blockchain Market for Supply Chain Management, By Country, 2016–2023 (USD Million)
Table 13 Europe: Healthcare Blockchain Market for Supply Chain Management, By Country, 2016–2023 (USD Million)
Table 14 Impact of Blockchain on Data Interoperability
Table 15 Clinical Data Exchange & Interoperability Blockchain Offerings By Key Market Players
Table 16 Key Blockchain Projects in Clinical Data Exchange & Interoperability
Table 17 Healthcare Blockchain Market for Clinical Data Exchange & Interoperability, By Region, 2016–2023 (USD Million)
Table 18 North America: Healthcare Blockchain Market for Clinical Data Exchange & Interoperability, By Country, 2016–2023 (USD Million)
Table 19 Europe: Healthcare Blockchain Market for Clinical Data Exchange & Interoperability, By Country, 2016–2023 (USD Million)
Table 20 Claims Adjudication & Billing Management Blockchain Offerings By Key Market Players
Table 21 Key Blockchain Projects in Claims Adjudication & Billing Management
Table 22 Healthcare Blockchain Market for Claims Adjudication & Billing Management, By Region, 2016–2023 (USD Million)
Table 23 North America: Healthcare Blockchain Market for Claims Adjudication & Billing Management, By Country, 2016–2023 (USD Million)
Table 24 Europe: Healthcare Blockchain Market for Claims Adjudication & Billing Management, By Country, 2016–2023 (USD Million)
Table 25 Blockchain Offerings for Other Applications By Key Market Players
Table 26 Healthcare Blockchain Market for Other Applications, By Region, 2016–2023 (USD Million)
Table 27 North America: Healthcare Blockchain Market Other Applications, By Country, 2016–2023 (USD Million)
Table 28 Europe: Healthcare Blockchain Market for Other Applications, By Country, 2016–2023 (USD Million)
Table 29 Healthcare Blockchain Market, By End Users, 2016–2023 (USD Million)
Table 30 Healthcare Blockchain Market for Pharmaceutical Companies, By Region, 2016–2023 (USD Million)
Table 31 North America: Healthcare Blockchain Market for Pharmaceutical Companies, By Country, 2016–2023 (USD Million)
Table 32 Europe: Healthcare Blockchain Market for Pharmaceutical Companies, By Country/Region, 2016–2023 (USD Million)
Table 33 Healthcare Blockchain Market for Healthcare Payers, By Region, 2016–2023 (USD Million)
Table 34 North America: Healthcare Blockchain Market for Healthcare Payers, By Country, 2016–2023 (USD Million)
Table 35 Europe: Healthcare Blockchain Market for Healthcare Payers, By Country, 2016–2023 (USD Million)
Table 36 Healthcare Blockchain Market for Healthcare Providers, By Region, 2016–2023 (USD Million)
Table 37 North America: Healthcare Blockchain Market for Healthcare Providers, By Country 2016–2023 (USD Million)
Table 38 Europe: Blockchain Market for Healthcare Providers, By Country, 2016–2023 (USD Million)
Table 39 Healthcare Blockchain Market for Other End Users, By Region, 2016–2023 (USD Million)
Table 40 North America: Healthcare Blockchain Market for Other End Users, By Country, 2016–2023 (USD Million)
Table 41 Europe: Healthcare Blockchain Market for Other End Users, By Country, 2016–2023 (USD Million)
Table 42 Healthcare Blockchain Market, By Region, 2016–2023 (USD Million)
Table 43 Key Blockchain Projects in North America
Table 44 North America: Healthcare Blockchain Market, By Country, 2016–2023 (USD Million)
Table 45 North America: Healthcare Blockchain Market, By Application, 2016–2023 (USD Million)
Table 46 North America: Healthcare Blockchain Market, By End User, 2016–2023 (USD Million)
Table 47 US: Key Macroindicators
Table 48 US: Healthcare Blockchain Market, By Application, 2016–2023 (USD Million)
Table 49 US: Healthcare Blockchain Market, By End User, 2016–2023 (USD Million)
Table 50 Canada: Key Macroindicators
Table 51 Canada: Healthcare Blockchain Market, By Application, 2016–2023 (USD Million)
Table 52 Canada: Healthcare Blockchain Market, By End User, 2016–2023 (USD Million)
Table 53 Europe: Healthcare Blockchain Market, By Country, 2016–2023 (USD Million)
Table 54 Europe: Healthcare Blockchain Market, By Application, 2016–2023 (USD Million)
Table 55 Europe: Healthcare Blockchain Market, By End User, 2016–2023 (USD Million)
Table 56 UK: Key Macroindicators
Table 57 UK: Healthcare Blockchain Market, By Application, 2016–2023 (USD Million)
Table 58 UK: Healthcare Blockchain Market, By End User, 2016–2023 (USD Million)
Table 59 Estonia: Key Macroindicators
Table 60 Estonia: Healthcare Blockchain Market, By Application, 2016–2023 (USD Million)
Table 61 Estonia: Healthcare Blockchain Market, By End User, 2016–2023 (USD Million)
Table 62 Germany: Key Macroindicators
Table 63 Germany: Healthcare Blockchain Market, By Application, 2016–2023 (USD Million)
Table 64 Germany: Healthcare Blockchain Market, By End User, 2016–2023 (USD Million)
Table 65 RoE: Healthcare Blockchain Market, By Application, 2016–2023 (USD Million)
Table 66 RoE: Healthcare Blockchain Market, By End User, 2016–2023 (USD Million)
Table 67 APAC: Healthcare Blockchain Market, By Application, 2016–2023 (USD Million)
Table 68 APAC: Healthcare Blockchain Market, By End User, 2016–2023 (USD Million)
Table 69 RoW: Healthcare Blockchain Market, By Application, 2016–2023 (USD Million)
Table 70 RoW: Healthcare Blockchain Market, By End User, 2016–2023 (USD Million)
Table 71 Growth Strategy Matrix (2015–2018)
Table 72 Healthcare Blockchain Market: Product Portfolio Assessment of Key Market Players
Table 73 Key Healthcare Blockchain Funding
Table 74 Agreements, Collaborations & Partnerships, 2015–2018
Table 75 Product Launches, 2015–2018
Table 76 Acquisitions, 2015–2018

List of Figures
Figure 1 Healthcare Blockchain Market Segmentation
Figure 2 Research Design
Figure 3 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 4 Bottom-Up Approach
Figure 5 Top-Down Approach
Figure 6 Data Triangulation Methodology
Figure 7 Healthcare Blockchain Market, By Application, 2018 vs 2023 (USD Million)
Figure 8 Healthcare Blockchain Market, By End User, 2018 vs 2023 (USD Million)
Figure 9 North America Dominated the Healthcare Blockchain Market in 2017
Figure 10 Rising Incidence of Healthcare Data Breaches is Driving Market Growth
Figure 11 UK Accounted for the Largest Market Share in 2017
Figure 12 US Commanded the Largest Share of the Healthcare Blockchain Market in 2017
Figure 13 Asia Pacific to Register the Highest CAGR During the Forecast Period
Figure 14 Healthcare Blockchain Market: Drivers, Restraints, Opportunities, & Challenges
Figure 15 Centralized vs Distributed Blockchain
Figure 16 Claims Adjudication & Billing Management to Witness the Highest Growth in the Healthcare Blockchain Applications Market During the Forecast Period
Figure 17 Healthcare Payers to Witness the Highest Growth During the Forecast Period
Figure 18 Healthcare Blockchain Market, By Region, 2018 vs 2023 (USD Million)
Figure 19 Healthcare Blockchain Market: Geographic Snapshot
Figure 20 North America: Healthcare Blockchain Market Snapshot
Figure 21 Europe: Healthcare Blockchain Market Snapshot
Figure 22 Key Developments in the Healthcare Blockchain Market Between January 2015 and June 2018
Figure 23 Vendor Benchmarking: Market Attractiveness vs Company Strength
Figure 24 IBM: Company Snapshot
Figure 25 Microsoft: Company Snapshot

Note: Product cover images may vary from those shown
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  • IBM
  • Microsoft
  • Guardtime
  • Pokitdok
  • Gem
  • Hashed Health
  • Chronicled
  • Isolve
  • Patientory
  • Factom
  • Medicalchain
  • Proof.Work
  • Simplyvital Health
  • Farmatrust
  • Blockpharma
Note: Product cover images may vary from those shown
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