Blockchain Technology In Healthcare Market Analysis

Type (Public, Private)

The public segment is expected to account for 60% share of the global blockchain technology in healthcare market. A public network called Ethereum is currently one of the most popular technologies in the medical field. These public networks are expanding mostly due to their low cost and availability of a larger database. Global spending on blockchain-related products is anticipated to reach USD 6.6 billion in 2021. According to projections, spending on blockchain solutions will increase over the next few years, close to 19 billion dollars by 2024.

Application (Claims Adjudication & Billing, Clinical Data Exchange & Interoperability, Clinical Trials & e-Consenting, Supply Chain Management)

The blockchain technology in healthcare market is dominated by supply chain management with about 42% share. The growth of the supply chain management market is driven by factors such as an increased number of counterfeit drugs in circulation, compliance with strict rules like drug quality standards and security legislation. It is estimated by the World Health Organization, that as many as 1 % of medicines available in developed countries are unlikely to be genuine. In the world this figure is set at 10 %, although some developing countries reach 50 %.

Our in-depth analysis of the global market includes the following segments: