Blockchain Technology in Healthcare Market Outlook 2026 By Size, Share, Trends, Growth, Technology Forecast
According to TechSci Research, Global blockchain technology in healthcare market is expected to witness a formidable growth during the forecast period. This can be ascribed to the growing digitization across healthcare industry. Additionally, improving healthcare IT infrastructure is further expected to fuel the market growth. The growing adoption of electronic health records across healthcare industry is further expected to support the market growth. Besides, growing incidences of healthcare data breaches and cyberattacks is expected to create lucrative opportunities for the growth of global blockchain technology through 2026. Furthermore, growing medical tourism across the globe has increased the demand for healthcare and patient data exchange between different healthcare industry stakeholders. This in turn is expected to boost the market demand over the next few years. Also, the emergence of various startup companies across the globe have started addressing the challenges faced by healthcare industry through blockchain solutions. This has in turn drawn the interests of different industry stakeholders and governments towards the application of blockchain across healthcare industry who have started making investments to facilitate the research and development in the application of blockchain across healthcare industry, thereby opening up new opportunities for the market during the forecast period.
The global blockchain technology in healthcare market is segmented into type, component, application, end user, region, and company. Based on application, the market can be categorized into supply chain management, patient data management, clinical data exchange, and interoperability, claims and billing management and others. The supply chain management segment is expected to dominate the market through 2026 on account of increasing number of counterfeit drugs in circulation across the pharmaceutical industry. Additionally, the implementation of stringent regulatory policies such as Drug Quality and Security Act (DQSA) and Falsified Medicines Directive (FMD) across the United States and Europe respectively is further expected to drive the segmental growth over the next five years.
Regionally, Asia Pacific is expected to witness the highest growth during the forecast period on account of the increasing healthcare expenditure across the region especially in countries like China, Japan, India, among others. Additionally, governments across these countries are making heavy expenditure in improving their existing healthcare IT infrastructure thereby fueling the market growth through 2026. Besides, major players operating in the market are expanding in the Asia Pacific region by opening subsidiaries, launching products, among others. This in turn will further support the market growth in the region.
The major players operating in the global blockchain technology in healthcare market are IBM Corporation, Amazon Web Services, Inc., Microsoft Corporation, SAP SE, Intel Corporation, Oracle Corporation, ConsenSys Software Inc., Change Healthcare, Inc., Bitfury Group Limited, Hashed Health LLC, Healthereum, LLC, Factom, Inc., Simplyvital Health, FarmaTrust Ltd., Blockpharma, among others. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments. For instance, in 2018, Microsoft and Viant along with GSK formed a consortium named Viant Blockchain Programme aimed to accelerate the adoption of a blockchain-based supply chain in various verticals including the healthcare industry. Also, in 2018, Chronicled partnered with Qtum Foundation. With this partnership both the companies will be integrating smart devices with a secure distributed ledger back end by combining the IoT with blockchain technology.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Objective of the Study:
- To analyze the historical growth of the market size of global blockchain technology in healthcare market from 2016 to 2019.
- To estimate and forecast the market size of global blockchain technology in healthcare market from 2020 to 2026 and growth rate until 2026.
- To classify and forecast global blockchain technology in healthcare market based on type, component, application, end user, regional distribution, and company.
- To identify dominant region or segment in the global blockchain technology in healthcare market.
- To identify drivers and challenges for global blockchain technology in healthcare market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global blockchain technology in healthcare market.
- To identify and analyze the profile of leading players operating in global blockchain technology in healthcare market.
- To identify key sustainable strategies adopted by market players in global blockchain technology in healthcare market.
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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service provider across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service provider who could not be identified due to the limitations of secondary research. TechSci Research analyzed the service provider, distribution channels and presence of all major players across the globe.
TechSci Research calculated the market size of global blockchain technology in healthcare market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Blockchain technology in healthcare service provider companies
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances related to blockchain technology in healthcare market
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service provider, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global blockchain technology in healthcare market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
· Global Blockchain Technology in Healthcare Market, By Type:
- Public
- Private
- Hybrid
- Consortium
- Global Blockchain Technology in Healthcare Market, By Component:
- Platform
- Services
- Global Blockchain Technology in Healthcare Market, By Application:
- Supply Chain Management
- Patient Data Management
- Clinical Data Exchange and Interoperability
- Claims and Billing Management
- Others
- Global Blockchain Technology in Healthcare Market, By End User:
- Hospitals & Clinics
- Pharma Companies
- Healthcare Payers
- Others
- Global Blockchain Technology in Healthcare Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- Germany
- United Kingdom
- Italy
- Russia
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Indonesia
- Vietnam
- South America
§ Brazil
§ Argentina
§ Colombia
§ Chile
o Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Turkey
- Egypt
- Iran
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global blockchain technology in healthcare market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
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