Published: February 2023
Blockchain has emerged as a viable solution for management / exchange of large volumes of healthcare data, demonstrating significant benefits in the healthcare industry, attributing to the overall growth of this market in the coming years.
Despite the growing interest of stakeholders in blockchain technology, the applicability of blockchain in healthcare is associated with several challenges, including scalability issues, lack of security and cyber-attacks. In order to deal with the aforementioned challenges, organizations have established transparency and privacy to conceal sensitive patient data. Further, the technology has demonstrated tremendous potential in clinical research and trials enhancing the possibility of secure sharing of accurate data thereby simplifying clinical trial operations. Driven by the promising potential of blockchain technology in the provision of personalized, authentic and reliable clinical trial services, the market is anticipated to gain significant traction in the foreseen future.
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More than 50 blockchain technology providers currently offer blockchain platforms for various drug development applications
Majority of the blockchain technology providers (59%) offer their proprietary blockchain platforms for clinical trial management. This is followed by players offering blockchain for drug supply chain (47%), followed by electronic health record management (27%) and drug discovery (25%).
Over 50% blockchain technology providers are headquartered in North America
Blockchain in drug discovery and clinical trials market is dominated by the presence of small players (39%). This is followed by mid-sized players (27%). In addition, majority of the blockchain technology providers headquartered in North America have been established post-2010.
Partnership activity in this market has increased at a CAGR of 63% during the period 2017-2021
Platform utilization agreements emerged as the most popular type of partnership model adopted by blockchain technology providers, representing over 40% of the total instances. In addition, 21% of the partnerships in this domain were inked in 2021.
Close to 500 articles focused on blockchain, have been published in reputed scientific journals, since 2016
More than 70% of the articles focused on blockchain were published post-2020. Popular journals that have published multiple articles include Journal of Medical Internet Research, Sensors, Frontiers and International Journal of Environmental Research and Public Health.
Blockchain in Drug Discovery and Clinical Trials Market is anticipated to grow at a CAGR of over 20% by 2035
Asia-Pacific is anticipated to capture over 45% of the overall market share for blockchain. This is followed by North America, with a share of over 20%. Further, in terms of type of blockchain, public blockchain (41%) is anticipated to capture the highest share in the foreseen future
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The financial opportunity within the blockchain in drug discovery and clinical trials market has been analyzed across the following segments:
The research also includes detailed profiles of the key players (listed below, in alphabetic order) providing blockchain in drug discovery and clinical trials; each profile features an overview of the company, its financial information (if available), applications of its proprietary platform, recent developments and an informed future outlook.
For additional details, please visit https://www.rootsanalysis.com/reports/blockchain-technology-in-healthcare-market.html or email firstname.lastname@example.org
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