Dublin–(Business Wire)–“Blockchain Technology in Healthcare Market: Distribution by Blockchain Type, End-User Type, and Key Geographic Regions: Industry Trends and Global Forecast, 2023-2035” Report Added to ResearchAndMarkets.com’s supply.
This report extensively examines the current market landscape and future potential of blockchain in drug discovery and clinical trials. The report highlights the efforts of multiple stakeholders involved in this rapidly emerging segment of the pharmaceutical industry and answers many of the key questions pertaining to the field.
What is the future potential of blockchain in healthcare?
The popularity of blockchain technology has been growing over the past few years. This technology has the potential to revolutionize the healthcare industry as it has become a viable option for storing/exchanging data within the healthcare industry.
Additionally, it provides a faster solution for tracking and authenticating medical shipments/pharmaceuticals throughout the supply chain and logistics operations, in addition to compiling longitudinal patient records such as disease registries, laboratory results and treatment related data record.
Which pharmaceutical companies are using blockchain?
Some examples of pharmaceutical companies using blockchain include (in alphabetical order) Amgen, Novartis, Pfizer and Sanofi.
What is the current state of the blockchain market dominated by drug discovery and clinical trials?
Currently, various types of blockchain platforms including public blockchains, private blockchains and consortium blockchains are being used for different drug development applications (DDA) such as drug discovery, intellectual property management, e-health Records management, vaccine distribution, drug authenticity, drug supply chain, drug data management, clinical trial management, electronic signatures. It’s worth highlighting that more than 50 blockchain providers offer their proprietary platforms for these applications to various industries, including healthcare, pharmaceutical, and government organizations.
What are the key value drivers of the blockchain in drug discovery and clinical trials market?
The use of blockchain has been increasing in recent years, driven by several technological advancements and the growing need for safe and secure methods of patient recruitment, retention and data management in drug discovery and clinical trials. It is worth mentioning that the use of blockchain technology in the drug discovery business is expected to improve the entire drug development process by enabling traceability of the drug supply chain and identification of counterfeit and drug products.
What are the main advantages of new blockchain platforms in drug discovery and clinical trials?
The use of blockchain technology in healthcare, particularly in drug discovery and clinical trial management, has been increasing in recent years. This can be attributed to the fact that blockchain offers a faster solution for tracking and verification of medicines/pharmaceuticals throughout the supply chain. Additionally, clinical trial data can be kept securely through a blockchain platform/portal. Additionally, the technology enables patients to access their medical data, ensuring that such data is only shared with the permission of the owner.
What are the key trends in the blockchain in drug discovery and clinical trials market?
It is worth highlighting that over a six-year period, more than 500 research articles in this field have been published in high-impact journals, underscoring the enormous effort put in by researchers. Most of these publications are research articles focused on evaluating the use of blockchain in pharmaceutical supply chains and clinical trial management.
What is the market size of blockchain in drug discovery and clinical trials market?
As blockchain adoption, especially for drug development applications, grows among innovators in the pharmaceutical and biopharmaceutical industry, lucrative opportunities are expected to emerge for players engaged in the blockchain drug discovery and clinical trials market . The blockchain market, dominated by drug discovery and clinical trials, is expected to maintain a healthy growth rate of more than 22% in the next ten years; opportunities are likely to be distributed among various types of blockchains, end-user types and key geographic regions.
Who are the Key Players in Blockchain in Drug Discovery and Clinical Trials Market?
Examples of key players involved in the field (also included in this report) include (in alphabetical order) Alten Calsoft Labs, ConsenSys, IBM, Infosys, Stratumn, and Tech Mahindra.
frequently asked questions
Question one: What is the growth rate of the blockchain market dominated by drug discovery and clinical trials?
A: The blockchain market focused on drug discovery and clinical trials is expected to grow at an annual rate of 22% between 2023 and 2035.
Question 2: Which region will lead the drug discovery and clinical trials-focused blockchain market?
A: North America and Asia Pacific are expected to account for more than 65% of the market by 2035. In the long run, the European market may grow at a relatively faster rate.
Question three: Which segment dominates the drug discovery and clinical trials focused blockchain market in terms of blockchain type?
A: Currently, private blockchains dominate the blockchain market in drug discovery and clinical trials. However, public blockchains are expected to drive the market for the foreseeable future.
Question four: Which segment holds the largest share in the drug discovery and clinical trials focused blockchain market in terms of end user type?
A: The pharmaceutical industry and academic institutions are expected to account for around 60% of the market by 2035. Moreover, the hospital market is likely to grow at a relatively faster rate in the long run.
Question 5: Which collaboration model is most commonly used by stakeholders in this field?
Answer: Platform utilization is becoming the most popular type of collaboration model adopted by participants involved in delivering blockchain in drug discovery and clinical trials. This is followed by platform integration agreements and strategic alliances.
Key topics covered:
I. Introduction
2. Executive summary
3. Introduction
4. Market overview
4.1. Chapter overview
4.2. Blockchain Technology Providers: Overall Market Structure
5. Company competitiveness analysis
6. Company Profile
7. Partnerships and collaboration
8. Publish analysis
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. Advantages
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 Fees
9.3.2.2. Storage
9.3.2.3. Data immutability
9.3.2.4. High energy consumption
9.3.3. Threats
9.3.3.1. Blockchain is vulnerable 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: Blockchain application in industries such as healthcare
11. Market Forecast and Opportunity Analysis
12. Conclusion
13. Executive Insights
14. Appendix 1: Tabular Data
15. Appendix 2: List of Companies and Organizations
For more information on this report, please visit https://www.researchandmarkets.com/r/jh5sch
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