Healthcare Blockchain Market Set for Ground-Breaking Adoption Worldwide

  • 02 May 2019

The global healthcare blockchain market is foreseen to value over US $ 3 billion by the end of 2026 and register at a CAGR of over 62% during the forecast period of 2019-2026.

Automation and security benefits offered by blockchain technology are responsible for the rapid implementation of healthcare blockchain. Entrepreneurs aware of transparency and cyber-attack security benefits provided by blockchain are exceedingly investing in the technology, in turn, promoting the rapid growth of healthcare blockchain market. The government laws pertaining the patient protection against possible medical data breaches are equally fuelling the adoption of healthcare blockchain. Claims adjudication and facilities to handle duplication and erroneous billing data using blockchain technology is further augmenting the accelerated growth of global healthcare blockchain market. Transparency and clinical trials privacy concerns are also projected to catalyse the adoption of blockchain technology by hospitals, clinics and research centres.

Need for exceeding storage spaces is another major factor that widely affects the healthcare supply chain management. Currently healthcare blockchain market faces challenges with cost-effectiveness for such needs. Setting up comprehensive registries of vaccines and drugs used to curb epidemic diseases based on endemic areas is another challenge that needs immediate attention by healthcare blockchain market players. 

Global Healthcare Blockchain Market, by Deployment Type
•    On-Premise
•    Cloud-Based

Global Healthcare Blockchain Market, by End-User
•    Hospitals
•    Clinics
•    Others
Hospital segment largely leads the global healthcare blockchain market segmentation by end-users. Healthcare blockchain along with Internet of Medical Things(IoMT) largely optimizes internal operations in hospital setups. Besides it provides protection from billing related fraudulent activities, counterfeited drugs and aids positive healthcare outcomes. Thus hospital segment is expected to grow at an impressive CAGR in the near future.

Global Healthcare Blockchain Market, by Region
•    North America
•    Latin America
•    Europe
•    Asia Pacific
•    Rest of the World
North America leads the global healthcare blockchain market in terms of revenue due to the need for medical data tampering prevention whereas, Europe holds the second position in terms of adoption due to stringent regulatory norms. Need to streamline and smoothen the healthcare operations continues to drive the market growth in the APAC region.

Competitive Landscape:  
•    Tier 1 players- established companies in the market with a major    market share
•    Tier 2 players 
•    Emerging players which are growing rapidly 
•    New Entrants  

FutureWise Key Takeaways 

•    Growth prospects
•    SWOT analysis 
•    Key trends 
•    Key data-points affecting market growth 

Objectives of the Study: 
•    To provide with an exhaustive analysis on the global healthcare blockchain market on the basis of deployment type, end-user, and region
•    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
•    To evaluate and forecast micro-markets and the overall market 
•    To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
•    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
•    Profiling of companies to evaluate their market shares, strategies, financials and core competencies