DUBLIN–( BUSINESS WIRE )–31. October 2022–
The global healthcare blockchain market is expected to grow from $0.93 billion in 2021 to $1.23 billion in 2022 at a compound annual growth rate (CAGR) of 31.6%. Blockchain in healthcare is expected to grow to $4.46 billion by 2026 at a CAGR of 38.1%.
The most important types of blockchains in healthcare are permissioned blockchains and permissionless blockchains. Permissioned blockchains also called private blockchains that require prior approval before use and can be accessed by people who have access. These offer high customizability, access controls, better scalability, depending on management and more efficient performance.
The different deployment types include on-premise and cloud-based, and are used in supply chain management, clinical data exchange and interoperability, claims adjudication and billing management, and others. The end users of blockchain in healthcare include healthcare professionals, pharmaceutical companies, healthcare payers and others.
North America was the largest region in the blockchain in healthcare market in 2020. The regions covered in the blockchain in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growing use of blockchain as a service (BaaS) is expected to drive the growth of blockchain in the healthcare sector going forward. Blockchain technology can provide innovative solutions to the challenges facing the healthcare sector, which include supply chain management, smart contracts, confidentiality of personal health information, technical issues in data processing, enabling alternative payment models and tracking virus outbreaks.
For example, in March 2021, Moderna, a pharmaceutical manufacturing company, and IBM announced a collaboration to improve and strengthen covid-19 vaccination management. Moderna can get real-time vaccination tracking information using IBM’s blockchain and artificial intelligence to reduce supply chain disruptions.
In March 2019, Embleema, a healthcare blockchain network provider announced a partnership with the Gustave Roussy Institute to use blockchain technology to integrate, store health data and data sharing applications for oncology clinical research at the Gustave Roussy Institute. Therefore, the growing use of blockchain as a service (BaaS) is driving the growth of blockchain in the healthcare sector.
Advances in technology are significantly shaping the healthcare blockchain. As there is a growing demand for blockchain technology, the key players operating in blockchain in the healthcare sector are focusing on developing advanced technological solutions for the healthcare sector to strengthen their position in the market.
For example, in May 2020, Solve. Care, a healthcare blockchain technology company based in Ukraine launched a decentralized care network called Global Telehealth Exchange (GTHE) using blockchain and digital currency. All patient records and transactions are securely stored on GTHE’s blockchain and can be accessed by Solve. care.
In May 2021, Nebula Genomics, a US-based privacy-focused personal genomics service company also launched the world’s first genomic NFT blockchain. NFT is a unique and irreplaceable representation of a digital or physical object and the human genome which provides an exciting opportunity for an NFT.
In November 2020, Signify Health, a US-based home health care company, acquired PatientBlox for an undisclosed sum. This acquisition will help Signify Health integrate blockchain technology into its payment methods for potential episodes of care and the transition to value-based care. PatientBlox is a US-based company that provides distributed ledger technology in healthcare.
Major players in the blockchain in the health sector are
- IBM Corporation
- Fact
- Hashed Health LLC
- Microsoft Corporation
- iSolve
- Blockpharma
- MedicalChain
- Limited duty hours
- Save
- Patient
- PharmaTrust
- SimplyVital Health Inc.
- Akiri
- BurstIQ
- Professional Credentials Exchange Inc.
- Avaneer
- RoboMed
- Embleema Inc.
2. Characteristics of blockchain in the health sector
3. Blockchain in Healthcare Market Trends and Strategies
4. Impact of COVID-19 on blockchain in healthcare
5. Blockchain in Healthcare Market Size and Growth
5.1. Global blockchain in healthcare historical market, 2016-2021, billion USD
5.1.1. Drivers of the market
5.1.2. Restrictions on the market
5.2. Global Blockchain in Health Forecast Market, 2021-2026F, 2031F, Billion USD
5.2.1. Drivers of the market
5.2.2. Restrictions on the market
6. Blockchain in segmentation of the health sector
6.1. Global Blockchain in Healthcare, Segmentation by Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, Billion USD
- Permission Blockchains
- Permissionless blockchains
6.2. Global Blockchain in Healthcare, Segmentation by Distribution Type, Historical and Forecast, 2016-2021, 2021-2026F, 2031F, Billion USD
6.3. Global Blockchain in Healthcare, Segmentation by Application, Historical and Forecast, 2016-2021, 2021-2026F, 2031F, Billion USD
- Supply Chain Management
- Clinical data exchange and interoperability
- Claims processing and invoicing processing
- Second
6.4. Global Blockchain in Healthcare, Segmentation by End User, Historical and Forecast, 2016-2021, 2021-2026F, 2031F, Billion USD
- Health personnel
- Pharmaceutical companies
- Health payers
- Second
7. Blockchain in Health Market Regional and Country Analysis
7.1. Global blockchain in healthcare, by region, historical and forecast, 2016-2021, 2021-2026F, 2031F, billion USD
7.2. Global Blockchain in Healthcare, by Country, Historical and Forecast, 2016-2021, 2021-2026F, 2031F, Billion USD
Laura Wood, Senior Press Officer
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INDUSTRY KEYWORDS: HEALTH HEALTH TECHNOLOGY
SOURCE: Research and markets
Copyright Business Wire 2022.
PUB: 31/10/2022 08:28/DISC: 31/10/2022 08:28
