Global Blockchain Technology Market in the Healthcare Industry, 2018–2022

Global Blockchain Technology Market in the Healthcare Industry, 2018–2022

  • October 2019 •
  • 138 pages •
  • Report ID: 5823008 •
  • Format: PDF
As the healthcare market struggles to find a trade-off between the risk and reward of going digital, the potential application of Blockchain technology provides a timely solution to mitigate some of its pressing needs around trust and security with digital workflows. A Blockchain (or DLT) is a new data structure that creates trusted, distributed digital ledgers for assets and other data. It is an immutable record of digital events shared peer to peer between different parties. It can only be updated by the consensus of a majority of the participants in the system and, once entered, the information is very hard to erase.

While relatively immature, Blockchain in healthcare is slowly staring to migrate from pilot Proof of Concept (PoC) to select Business-to-business (B2B) commercial, demonstrating initial Return on Investments (ROIs) across enterprise-level B2B-focused initiatives. This will lure early adopters that have waited, to finally jump on board, creating the much-needed network effect in the healthcare space. This report estimates the global Blockchain technology market in the healthcare industry to cross $500 million by 2022, growing at a CAGR of 61.4% between 2018 and 2022. Health insurance payers, providers and pharma companies are expected to be the early adopters of Blockchain systems compared to other healthcare industry stakeholders.