Blockchain in Healthcare Market: Distribution by Application (Drug Discovery, Clinical Trials) Type of Blockchain (Public Blockchain, Private Blockchain, Hybrid Blockchain, and Other Blockchains), Type of End User (Hospitals, Pharmaceutical Industry, Research Institutes and Academic Institutes), and Key Geographical Regions (North America, Europe, Asia-Pacific, and Rest of the World): Industry Trends and Global Forecasts, 2023-2035
The global blockchain in healthcare market is expected to reach USD 58 million in 2023 anticipated to grow at a CAGR of 22% during the forecast period 2023-2035.
The healthcare landscape faces multifaceted challenges, encompassing fragmented medical record maintenance, compromised data integrity, interoperability hurdles, inefficiencies in supply chain management, and breaches compromising patient information security. Additionally, a significant portion, around 80%, of medical studies encounter obstacles leading to undesired outcomes due to errors like fraud, data falsification, and trial misconduct. Between July 2021 and June 2022, over 690 healthcare data breaches were reported, highlighting the industry's vulnerability.
Responding to these critical issues, blockchain technology, also termed distributed ledger technology (DLT), emerges as a promising solution. This innovative technology effectively identifies systemic flaws within the medical sector while enabling secure storage and management of healthcare data and transactions. Its applications span diverse healthcare domains, particularly in optimizing clinical trials by preventing data manipulation and enhancing trial data transparency. Furthermore, it significantly improves supply chain management by curbing counterfeit drugs and medications. Moreover, in telemedicine, blockchain safeguards medical records from unauthorized access or tampering and facilitates secure data transfer among different healthcare providers.
Report Coverage
The healthcare landscape faces multifaceted challenges, encompassing fragmented medical record maintenance, compromised data integrity, interoperability hurdles, inefficiencies in supply chain management, and breaches compromising patient information security. Additionally, a significant portion, around 80%, of medical studies encounter obstacles leading to undesired outcomes due to errors like fraud, data falsification, and trial misconduct. Between July 2021 and June 2022, over 690 healthcare data breaches were reported, highlighting the industry's vulnerability.
Responding to these critical issues, blockchain technology, also termed distributed ledger technology (DLT), emerges as a promising solution. This innovative technology effectively identifies systemic flaws within the medical sector while enabling secure storage and management of healthcare data and transactions. Its applications span diverse healthcare domains, particularly in optimizing clinical trials by preventing data manipulation and enhancing trial data transparency. Furthermore, it significantly improves supply chain management by curbing counterfeit drugs and medications. Moreover, in telemedicine, blockchain safeguards medical records from unauthorized access or tampering and facilitates secure data transfer among different healthcare providers.
Report Coverage
- An executive summary of the key insights captured in report offering a high-level view of the current state of blockchain in drug discovery and clinical trials market and its likely evolution in the short term to mid-term and long term.
- Overview of blockchain technology, along with information on its types, including public blockchain, private blockchain, and consortium blockchain and applications across various industries Additionally, it highlights the application blockchain, specifically in drug discovery and clinical trials.
- A detailed review of the overall market landscape of blockchain in drug discovery and clinical trials, featuring information on the type of blockchain(s), type of drug development application(s), applications within clinical trial management, type of end-users.
- An insightful company competitiveness analysis of blockchain technology providers, based on their supplier strength, portfolio diversity and portfolio strength
- Elaborated profiles of key players engaged in providing blockchain platforms for drug discovery and clinical trials. Each profile features a brief overview of the company along with information on their year of establishment, number of employees, location of headquarters, key executives, financial information (if available), details on application areas of proprietary platform, recent developments and an informed future outlook.
- An in-depth analysis of the various collaborations and partnerships that have been inked by stakeholders engaged in this domain, during the period 2017-2022. It includes a brief description of the partnership models adopted by stakeholders in this domain.
- A detailed review of peer-reviewed, scientific articles related to research on blockchain in drug discovery and clinical trials, based on several relevant parameters, such as year of publication, type of article, popular publishers, popular copyright holders and keywords. The chapter also highlights the key journals.
- Information on the affiliated trends, key drivers and challenges associated with blockchain, under a reliable SWOT framework.
- A detailed case study on the history and evolution of blockchain in various industries along with details on its advantages and challenges.
- An insightful market forecast analysis, highlighting the likely growth of the blockchain in drug discovery and clinical trials market till the year 2035. In order to provide details on the future opportunity, our projections have been segmented on the basis of type of blockchain (public blockchain, private blockchain, hybrid blockchain, other blockchains), type of end user (hospitals, pharmaceutical industry, research institutes and academic institutes) and key geographical regions (North America, Europe, Asia-Pacific and Rest of the world).
- Alten Calsoft Labs
- ConsenSys
- Humanscape
- Hyperledger Foundation
- IBM
- Infosys
- Innoplexus
- Medsphere
- Solulab
- Stratumn
1. PREFACE
1.1. Overview
1.2. Key Market Insights
1.3. Scope of the Report
1.4. Research Methodology
1.5 Key Questions Answered
1.6. Chapter Outlines
2. EXECUTIVE SUMMARY
2.1 Chapter Overview
3. INTRODUCTION
3.1. Chapter Overview
3.2. Overview of Blockchain Technology
3.2.1. Ethereum vs Hyperledger Fabric
3.3. Types of Blockchain
3.3.1. Permissionless or Public Blockchain
3.3.2. Permissioned or Private Blockchain
3.3.3. Federated or Consortium Blockchain
3.4. Applications of Blockchain Across Various Industries
3.5. Applications of Blockchain in Drug Discovery and Clinical Trials
3.6. Advantages and Limitations of Blockchain
3.7. Future Perspectives
4. MARKET OVERVIEW
4.1. Chapter Overview
4.2. List of Blockchain Technology Providers
4.2.1. Analysis by Year of Establishment
4.2.2. Analysis by Company Size
4.2.3. Analysis by Region of Headquarters
4.2.4. Analysis by Location of Headquarters
4.2.5. Analysis by Year of Establishment, Company Size, and Region of Headquarters
4.2.6. Analysis by Type of Blockchain(s)
4.2.7. Analysis by Type of Drug Development Application(s)
4.2.8. Analysis by Application(s) within Clinical Trial Management
4.2.9. Analysis by Type of End-User(s)
4.2.10. Analysis by Type of Blockchain and Type of End-User(s)
4.2.11. Analysis by Type of Blockchain and Type of Drug Development Application(s)
5. COMPANY COMPETITIVENESS ANALYSIS
5.1. Chapter Overview
5.2. Assumptions / Key Parameters
5.3. Methodology
5.4. Company Competitiveness Analysis: Blockchain Technology Providers based inNorth America (Peer Group I)
5.5. Company Competitiveness Analysis: Blockchain Technology Providers based inEurope (Peer Group II)
5.6. Company Competitiveness Analysis: Blockchain Technology Providers based inAsia Pacific and RoW (Peer Group III)
6. COMPANY PROFILES
6.1. Chapter Overview
6.2. Alten Calsoft Labs
6.2.1. Company Overview
6.2.2. Financial Information
6.2.3. Application Areas of Proprietary Platform
6.2.4. Recent Developments and Future Outlook
6.3. ConsenSys
6.3.1. Company Overview
6.3.2. Application Areas of Proprietary Platform
6.3.3. Recent Developments and Future Outlook
6.4. IBM
6.4.1. Company Overview
6.4.2. Financial Information
6.4.3. Application Areas of Proprietary Platform
6.4.4. Recent Development and Future Outlooks
6.5. Stratumn
6.5.1. Company Overview
6.5.2. Application Areas of Proprietary Platform
6.5.3. Recent Development and Future Outlook
6.6. Infosys
6.6.1. Company Overview
6.6.2. Financial Information
6.6.3. Application Areas of Proprietary Platform
6.6.4. Recent Developments and Future Outlook
6.7. Tech Mahindra
6.7.1. Company Overview
6.7.2. Financial Information
6.7.3. Application Areas of Proprietary Platform
6.7.4. Recent Developments and Future Outlook
6.8. Humanscape
6.8.1. Company Overview
6.8.2. Application Areas of Proprietary Platform
6.8.3. Recent Developments and Future Outlook
6.9. Hyperledger Foundation
6.9.1. Company Overview
6.9.2. Application Areas of Proprietary Platform
6.9.3. Recent Developments and Future Outlook
6.10. Innoplexus
6.10.1. Company Overview
6.10.2. Application Areas of Proprietary Platform
6.10.3. Recent Developments and Future Outlook
6.11. Medsphere
6.11.1. Company Overview
6.11.2. Application Areas of Proprietary Platform
6.11.3. Recent Developments and Future Outlook
6.12. Solulab
6.12.1. Company Overview
6.12.2. Application Areas of Proprietary Platform
6.12.3. Recent Developments and Future Outlook
7. PARTNERSHIPS AND COLLABORATIONS
7.1. Chapter Overview
7.2. Partnership Models
7.3 Blockchain in Drug Discovery and Clinical Trials: Recent Partnerships and Collaborations
7.3.1. Analysis by Year of Partnership
7.3.2. Analysis by Type of Partnership
7.3.3. Analysis by Year and Type of Partnership
7.3.4. Analysis by Company Size and Type of Partnership
7.3.5. Most Active Players: Distribution by Number of Partnerships
7.3.6. Most Active Players: Distribution by Type of Partnership
7.3.7. Analysis by Type of Pharmaceutical Applications
7.3.8. Analysis by Type of Partner
7.3.9. Analysis by Geographical Region
7.3.9.1. Local and International Agreements
7.3.9.2. Intercontinental and Intracontinental Agreements
8. PUBLICATION ANALYSIS
8.1. Chapter Overview
8.2. Scope and Methodology
8.3. Blockchain Technology in Pharmaceutical Industry: Recent Publications
8.3.1. Analysis by Year of Publication
8.3.2. Analysis by Type of Article
8.3.3. Popular Journals: Analysis by Number of Publications
8.3.4. Popular Publishers: Analysis by Number of Publications
8.3.5. Popular Copyright Holders: Analysis by Number of Publications
8.3.6. Analysis by Popular Keywords
8.3.7. Analysis by Impact Factor
8.3.8. Popular Journals: Analysis by Journal Impact Factor
9. SWOT ANALYSIS
9.1. Chapter Overview
9.2. Blockchain in Drug Discovery and Clinical Trials: SWOT Analysis
9.3. Comparison of SWOT Factors
9.3.1. Strengths
9.3.1.1. Transparency and Traceability
9.3.1.2. Cost Reduction and Data Integrity
9.3.1.3. Safe and Secure Transactions
9.3.1.4. Patient Data Management
9.3.2. Weaknesses
9.3.2.1. Implementation Expense
9.3.2.2. Storage
9.3.2.3. Immutability of Data
9.3.2.4. High Energy Consumption
9.3.3. Threats
9.3.3.1. Blockchain is Prone to Cyber Attacks
9.3.3.2. Scalability
9.3.3.3. Lack of Regulations Issued by Legal Authorities
9.3.4. Opportunities
10. CASE STUDY: APPLICATIONS OF BLOCKCHAIN IN HEALTHCARE AND OTHER INDUSTRIES
10.1. Chapter Overview
10.2. Applications of Blockchain Across Various Industries
10.2.1 Blockchain in Healthcare
10.2.2. Blockchain in Banking and Financial Industry
10.2.3. Blockchain in Automotive Industry
10.2.4. Blockchain in Education
10.2.5. Blockchain in Telecom Industry
10.2.6. Blockchain in Transportation
10.2.7. Blockchain in Travel Industry
11. MARKET FORECAST AND OPPORTUNITY ANALYSIS
11.1. Chapter Overview
11.2. Key Assumptions and Methodology
11.3. Blockchain in Drug Discovery and Clinical Trials Market, 2023-2035
11.4. Blockchain in Drug Discovery and Clinical Trials Market: Distribution by Type of Blockchain, 2023 and 2035
11.4.1. Blockchain in Drug Discovery and Clinical Trials Market for Public Blockchain, 2023-2035
11.4.2. Blockchain in Drug Discovery and Clinical Trials Market for Private Blockchain, 2023-2035
11.4.3. Blockchain in Drug Discovery and Clinical Trials Market for Hybrid Blockchain, 2023-2035
11.4.4. Blockchain in Drug Discovery and Clinical Trials Market for Other Blockchains, 2023-2035
11.5. Blockchain in Drug Discovery and Clinical Trials Market: Distribution by Type of End-User, 2023 and 2035
11.5.1. Blockchain in Drug Discovery and Clinical Trials Market for Hospitals, 2023-2035
11.5.2. Blockchain in Drug Discovery and Clinical Trials Market forPharmaceutical Industry, 2023-2035
11.5.3. Blockchain in Drug Discovery and Clinical Trials Market for Research Institutes, 2023-2035
11.5.4. Blockchain in Drug Discovery and Clinical Trials Market for Academic Institutes, 2023-2035
11.6. Blockchain in Drug Discovery and Clinical Trials Market: Distribution by Key Geographical Regions, 2023 and 2035
11.6.1. Blockchain in Drug Discovery and Clinical Trials Market in NorthAmerica, 2023-2035
11.6.2. Blockchain in Drug Discovery and Clinical Trials Market in Europe, 2023-2035
11.6.3. Blockchain in Drug Discovery and Clinical Trials Market in Asia-Pacific, 2023-2035
11.6.4. Blockchain in Drug Discovery and Clinical Trials Market in Rest of theWorld, 2023-2035
12. CONCLUDING REMARKS
13. EXECUTIVE INSIGHTS
14. APPENDIX 1: TABULATED DATA
15. APPENDIX 2: LIST OF COMPANIES AND ORGANIZATIONS
1.1. Overview
1.2. Key Market Insights
1.3. Scope of the Report
1.4. Research Methodology
1.5 Key Questions Answered
1.6. Chapter Outlines
2. EXECUTIVE SUMMARY
2.1 Chapter Overview
3. INTRODUCTION
3.1. Chapter Overview
3.2. Overview of Blockchain Technology
3.2.1. Ethereum vs Hyperledger Fabric
3.3. Types of Blockchain
3.3.1. Permissionless or Public Blockchain
3.3.2. Permissioned or Private Blockchain
3.3.3. Federated or Consortium Blockchain
3.4. Applications of Blockchain Across Various Industries
3.5. Applications of Blockchain in Drug Discovery and Clinical Trials
3.6. Advantages and Limitations of Blockchain
3.7. Future Perspectives
4. MARKET OVERVIEW
4.1. Chapter Overview
4.2. List of Blockchain Technology Providers
4.2.1. Analysis by Year of Establishment
4.2.2. Analysis by Company Size
4.2.3. Analysis by Region of Headquarters
4.2.4. Analysis by Location of Headquarters
4.2.5. Analysis by Year of Establishment, Company Size, and Region of Headquarters
4.2.6. Analysis by Type of Blockchain(s)
4.2.7. Analysis by Type of Drug Development Application(s)
4.2.8. Analysis by Application(s) within Clinical Trial Management
4.2.9. Analysis by Type of End-User(s)
4.2.10. Analysis by Type of Blockchain and Type of End-User(s)
4.2.11. Analysis by Type of Blockchain and Type of Drug Development Application(s)
5. COMPANY COMPETITIVENESS ANALYSIS
5.1. Chapter Overview
5.2. Assumptions / Key Parameters
5.3. Methodology
5.4. Company Competitiveness Analysis: Blockchain Technology Providers based inNorth America (Peer Group I)
5.5. Company Competitiveness Analysis: Blockchain Technology Providers based inEurope (Peer Group II)
5.6. Company Competitiveness Analysis: Blockchain Technology Providers based inAsia Pacific and RoW (Peer Group III)
6. COMPANY PROFILES
6.1. Chapter Overview
6.2. Alten Calsoft Labs
6.2.1. Company Overview
6.2.2. Financial Information
6.2.3. Application Areas of Proprietary Platform
6.2.4. Recent Developments and Future Outlook
6.3. ConsenSys
6.3.1. Company Overview
6.3.2. Application Areas of Proprietary Platform
6.3.3. Recent Developments and Future Outlook
6.4. IBM
6.4.1. Company Overview
6.4.2. Financial Information
6.4.3. Application Areas of Proprietary Platform
6.4.4. Recent Development and Future Outlooks
6.5. Stratumn
6.5.1. Company Overview
6.5.2. Application Areas of Proprietary Platform
6.5.3. Recent Development and Future Outlook
6.6. Infosys
6.6.1. Company Overview
6.6.2. Financial Information
6.6.3. Application Areas of Proprietary Platform
6.6.4. Recent Developments and Future Outlook
6.7. Tech Mahindra
6.7.1. Company Overview
6.7.2. Financial Information
6.7.3. Application Areas of Proprietary Platform
6.7.4. Recent Developments and Future Outlook
6.8. Humanscape
6.8.1. Company Overview
6.8.2. Application Areas of Proprietary Platform
6.8.3. Recent Developments and Future Outlook
6.9. Hyperledger Foundation
6.9.1. Company Overview
6.9.2. Application Areas of Proprietary Platform
6.9.3. Recent Developments and Future Outlook
6.10. Innoplexus
6.10.1. Company Overview
6.10.2. Application Areas of Proprietary Platform
6.10.3. Recent Developments and Future Outlook
6.11. Medsphere
6.11.1. Company Overview
6.11.2. Application Areas of Proprietary Platform
6.11.3. Recent Developments and Future Outlook
6.12. Solulab
6.12.1. Company Overview
6.12.2. Application Areas of Proprietary Platform
6.12.3. Recent Developments and Future Outlook
7. PARTNERSHIPS AND COLLABORATIONS
7.1. Chapter Overview
7.2. Partnership Models
7.3 Blockchain in Drug Discovery and Clinical Trials: Recent Partnerships and Collaborations
7.3.1. Analysis by Year of Partnership
7.3.2. Analysis by Type of Partnership
7.3.3. Analysis by Year and Type of Partnership
7.3.4. Analysis by Company Size and Type of Partnership
7.3.5. Most Active Players: Distribution by Number of Partnerships
7.3.6. Most Active Players: Distribution by Type of Partnership
7.3.7. Analysis by Type of Pharmaceutical Applications
7.3.8. Analysis by Type of Partner
7.3.9. Analysis by Geographical Region
7.3.9.1. Local and International Agreements
7.3.9.2. Intercontinental and Intracontinental Agreements
8. PUBLICATION ANALYSIS
8.1. Chapter Overview
8.2. Scope and Methodology
8.3. Blockchain Technology in Pharmaceutical Industry: Recent Publications
8.3.1. Analysis by Year of Publication
8.3.2. Analysis by Type of Article
8.3.3. Popular Journals: Analysis by Number of Publications
8.3.4. Popular Publishers: Analysis by Number of Publications
8.3.5. Popular Copyright Holders: Analysis by Number of Publications
8.3.6. Analysis by Popular Keywords
8.3.7. Analysis by Impact Factor
8.3.8. Popular Journals: Analysis by Journal Impact Factor
9. SWOT ANALYSIS
9.1. Chapter Overview
9.2. Blockchain in Drug Discovery and Clinical Trials: SWOT Analysis
9.3. Comparison of SWOT Factors
9.3.1. Strengths
9.3.1.1. Transparency and Traceability
9.3.1.2. Cost Reduction and Data Integrity
9.3.1.3. Safe and Secure Transactions
9.3.1.4. Patient Data Management
9.3.2. Weaknesses
9.3.2.1. Implementation Expense
9.3.2.2. Storage
9.3.2.3. Immutability of Data
9.3.2.4. High Energy Consumption
9.3.3. Threats
9.3.3.1. Blockchain is Prone to Cyber Attacks
9.3.3.2. Scalability
9.3.3.3. Lack of Regulations Issued by Legal Authorities
9.3.4. Opportunities
10. CASE STUDY: APPLICATIONS OF BLOCKCHAIN IN HEALTHCARE AND OTHER INDUSTRIES
10.1. Chapter Overview
10.2. Applications of Blockchain Across Various Industries
10.2.1 Blockchain in Healthcare
10.2.2. Blockchain in Banking and Financial Industry
10.2.3. Blockchain in Automotive Industry
10.2.4. Blockchain in Education
10.2.5. Blockchain in Telecom Industry
10.2.6. Blockchain in Transportation
10.2.7. Blockchain in Travel Industry
11. MARKET FORECAST AND OPPORTUNITY ANALYSIS
11.1. Chapter Overview
11.2. Key Assumptions and Methodology
11.3. Blockchain in Drug Discovery and Clinical Trials Market, 2023-2035
11.4. Blockchain in Drug Discovery and Clinical Trials Market: Distribution by Type of Blockchain, 2023 and 2035
11.4.1. Blockchain in Drug Discovery and Clinical Trials Market for Public Blockchain, 2023-2035
11.4.2. Blockchain in Drug Discovery and Clinical Trials Market for Private Blockchain, 2023-2035
11.4.3. Blockchain in Drug Discovery and Clinical Trials Market for Hybrid Blockchain, 2023-2035
11.4.4. Blockchain in Drug Discovery and Clinical Trials Market for Other Blockchains, 2023-2035
11.5. Blockchain in Drug Discovery and Clinical Trials Market: Distribution by Type of End-User, 2023 and 2035
11.5.1. Blockchain in Drug Discovery and Clinical Trials Market for Hospitals, 2023-2035
11.5.2. Blockchain in Drug Discovery and Clinical Trials Market forPharmaceutical Industry, 2023-2035
11.5.3. Blockchain in Drug Discovery and Clinical Trials Market for Research Institutes, 2023-2035
11.5.4. Blockchain in Drug Discovery and Clinical Trials Market for Academic Institutes, 2023-2035
11.6. Blockchain in Drug Discovery and Clinical Trials Market: Distribution by Key Geographical Regions, 2023 and 2035
11.6.1. Blockchain in Drug Discovery and Clinical Trials Market in NorthAmerica, 2023-2035
11.6.2. Blockchain in Drug Discovery and Clinical Trials Market in Europe, 2023-2035
11.6.3. Blockchain in Drug Discovery and Clinical Trials Market in Asia-Pacific, 2023-2035
11.6.4. Blockchain in Drug Discovery and Clinical Trials Market in Rest of theWorld, 2023-2035
12. CONCLUDING REMARKS
13. EXECUTIVE INSIGHTS
14. APPENDIX 1: TABULATED DATA
15. APPENDIX 2: LIST OF COMPANIES AND ORGANIZATIONS
