Blockchain Technology in Healthcare Market : Distribution by Type of Blockchain, Type of End-User, and Key Geographical Regions : Industry Trends and Global Forecasts, 2023-2035

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INTRODUCTION. Blockchain technology, also referred to as distributed ledger technology (DLT), serves an integral part of the pharmaceutical supply chain. It enhances the trackability and traceability of drugs and other pharmaceutical products, thereby reducing the prevalence of counterfeit drugs and medicine.

New York, Feb. 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Blockchain Technology in Healthcare Market : Distribution by Type of Blockchain, Type of End-User, and Key Geographical Regions : Industry Trends and Global Forecasts, 2023-2035" - https://www.reportlinker.com/p06414162/?utm_source=GNW
The drug discovery process, which involves the identification of a relevant biological target and a corresponding pharmacological lead, is deemed crucial to the clinical success of a drug candidate. However, it is a well-known fact that, approximately 80% of the medical studies fail to produce desired results due to various errors, including fraud, data falsification, and trial misconduct. This can be taken care of by the blockchain, acting as a strong platform for an enhanced clinical practice in terms of maintaining patient records and enrolling patients for trials. It also enhances the storage and transparency of medical data. In addition, the ledger can be used to contain all the updated information along with an encrypted patient identity to secure patient data.

SCOPE OF THE REPORT
The Blockchain in Drug Discovery and Clinical Trials Market: Distribution by 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 report features an extensive study of the current market landscape and future potential of blockchain in drug discovery and clinical trials. The report highlights the efforts of several stakeholders engaged in this rapidly emerging segment of the pharmaceutical industry and answers many key questions related to this domain.

What is Blockchain and How Does it Work?
Blockchain is a decentralized, distributed, digital ledger that is used to record transactions on a common digital platform. It is worth noting, that the record cannot be altered retroactively without the alteration of all subsequent blocks and the consensus of the network. Further, the technology was developed to facilitate secure transactions between different stakeholders, without involving third parties. There are few simple steps on which blockchain works
Each transaction being performed is recorded along with relevant details
The different nodes of the network verify if the transaction is valid
Each transaction being verified is added to the block
Once the block is complete, it is added to the chain

What is the Future Potential of Blockchain in Healthcare?
The popularity of blockchain technology has grown invariably in the last few years. The technology has the potential to revolutionize the healthcare sector as it has emerged as a viable option to store / exchange data within the healthcare industry. Further, it provides a faster solution for tracking and authenticating medical shipments / drugs across the supply chain and during logistics operations. In addition to compiling longitudinal patient records such as disease registries, laboratory results, and treatment related data records.

Which Pharmaceutical Companies are using Blockchain?
Examples of some of the pharmaceutical companies using blockchain include (in alphabetic order) Amgen, Novartis, Pfizer and Sanofi.

What is the Current Market Landscape of the Blockchain Market Focused on Drug Discovery and Clinical Trials?
Various types of blockchain platforms, including public blockchain, private blockchain, and consortium blockchain, are currently being used across different drug development applications (DDA), such as drug discovery, intellectual property management, electronic health record management, vaccine distribution, drug authenticity, drug supply chain, drug data management, clinical trial management, and electronic signature. It is worth highlighting that more than 50 blockchain providers offer their proprietary platforms for these applications to various industries, including healthcare, pharmaceuticals, and government organizations.

What are the Key Value Drivers of Blockchain Market in Drug Discovery and Clinical Trials?
In recent years, the use of blockchain has been on the rise, driven by several technological advancements and the growing demand 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 drug discovery operations is expected to improve the overall drug development process by enabling traceability in the drug supply chain and identification of counterfeit drugs and medicines.

What are the Key Advantages Offered by Novel Blockchain Platforms in Drug Discovery and Clinical Trials?
In recent years, the use of blockchain technology in healthcare, specifically in drug discovery and clinical trial management has been on the rise. This can be attributed to the fact that blockchain provides a faster solution for tracking and authenticating pharmaceutical products / drugs across the supply chain. In addition, clinical trial data can be saved securely over blockchain platforms / portals. Further, the technology enables patients to access to their medical data, ensuring that such data is only shared with the owner’s permission.

What are the Key Trends in the Blockchain in Drug Discovery and Clinical Trials Market?
It is worth highlighting that 500+ research articles in this domain have been published in high-impact journals over a period of six years, highlighting the substantial efforts made by researchers. Majority of these publications are research articles focused on evaluating the use of blockchain across drug supply chain and clinical trial management.

What is the Market Size of Blockchain in Drug Discovery and Clinical Trials Market?
As the adoption of blockchain, specifically for drug development applications, increases amongst innovators in the pharma and biopharma industries, lucrative opportunities are expected to be emerge for players engaged in the blockchain for drug discovery and clinical trials market. The blockchain market, focusing on drug discovery and clinical trials, is expected to witness a healthy growth of over 22% in the coming decade; the opportunity is likely to be well distributed across various types of blockchain, types of end-users and key geographical regions.

Who are the Key Players in the Blockchain in Drug Discovery and Clinical Trials Market?
Examples of key players engaged in this domain (which have also been captured in this report) include (in alphabetic order) Alten Calsoft Labs, ConsenSys, IBM, Infosys, Stratumn and Tech Mahindra.

The study presents an in-depth analysis, highlighting the capabilities of various stakeholders engaged in this domain, across different geographies. Amongst other elements, the report includes:
An executive summary of the insights captured during our research. It offers a high-level view on the current state of blockchain in drug discovery and clinical trials market and its likely evolution in the short to mid and long term.
A general overview of blockchain technology, along with information on its types and applications across various industries. It also highlights the applications of blockchain, specifically in drug discovery and clinical trials. Further, the chapter features a discussion on the challenges, key growth drivers, and future perspectives associated with the use of blockchain in drug discovery and clinical trials.
A detailed assessment of the overall market landscape of companies offering blockchain technology for drug discovery and clinical trials, based on several relevant parameters, such as year of establishment, company size (in terms of number of employees), location of headquarters, type of blockchain(s) (public blockchain, private blockchain, and consortium blockchain), type of drug development application(s) (drug discovery, intellectual property management, electronic health record management, vaccine distribution, drug authenticity, drug supply chain, drug data management, clinical trial management, and electronic signatures), application(s) within clinical trial management (operational excellence, predictive analysis, site investigation, patient recruitment retention, vendor management, patient data management, risk based monitoring, and data visualization), and type of end-user(s) (healthcare industry, pharmaceutical industry, and government organizations).
A detailed competitiveness analysis of blockchain technology providers based on supplier strength (in terms of the years of experience), portfolio diversity (in terms of type of drug development application(s), application(s) within clinical trial management and type of end-user(s)), and portfolio strength (in terms of type of blockchain(s)).
Elaborate profiles of key players providing blockchain platforms for drug discovery applications. Each profile includes a brief overview of the company, financial information (if available), details on application areas of proprietary platform, recent developments and an informed future outlook.
A detailed analysis of recent partnerships inked between stakeholders engaged in this domain, since 2017, based on several relevant parameters, such as year of partnership, type of partnership, most active players (in terms of number of partnerships and type of partnership), type of drug development applications, type of partner, regional analysis, intercontinental and intracontinental agreements.
A detailed review of over 500 peer-reviewed, scientific articles focused on blockchain in the pharmaceutical industry, 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 top journals, in terms of number of articles published and impact factor.
A discussion on affiliated trends, key drivers, and challenges under a SWOT framework, featuring a Harvey ball analysis, highlighting the relative impact of each SWOT parameter on the overall blockchain in drug discovery and clinical trials market.
A case study highlighting the applications of blockchain across various industries, such as healthcare, banking and financial, automotive, education, telecom, transportation and travel industries, and its likely evolution in the foreseen future.

One of the key objectives of the report was to estimate the current opportunity and future growth potential of blockchain in drug discovery and clinical trials market over the coming years. We have provided informed estimates on the likely evolution of the market for the period, 2023-2035. Our year-wise projections of the current and future opportunity have further been segmented based on relevant parameters, such as 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). In order to account for future uncertainties associated with some of the key parameters and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base, and optimistic scenarios, representing different tracks of the industry’s evolution.

The opinions and insights presented in the report were influenced by discussions held with stakeholders in this domain. The report features detailed transcript of interview held with the industry stakeholders.

All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this report are in USD, unless otherwise specified.

RESEARCH METHODOLOGY
The data presented in this report has been gathered via secondary and primary research. For all our projects, we conduct interviews / surveys with experts in this domain (academia, industry, medical practice, and other associations) to solicit their opinions on emerging trends in the market. This is primarily useful for us to draw out our own opinion on how the market will evolve across different regions and technology segments. Wherever possible, the available data has been checked for accuracy from multiple sources of information.

The secondary sources of information include
Annual reports
Investor presentations
SEC filings
Industry databases
News releases from company websites
Government policy documents
Industry analysts’ views

While the focus has been on forecasting the market till 2035, the report also provides our independent view on various technological and non-commercial trends emerging in the industry. This opinion is solely based on our knowledge, research, and understanding of the relevant market gathered from various secondary and primary sources of information.

KEY QUESTIONS ANSWERED
Question 1: What is the growth rate of blockchain market focusing on drug discovery and clinical trials?
Answer: The blockchain market focusing on drug discovery and clinical trials is expected to grow at an annualized rate of 22% between 2023 to 2035.

Question 2: Which region will lead the blockchain market focusing on drug discovery and clinical trials?
Answer: North America and Asia-Pacific are anticipated to capture over 65% of the market share by 2035. The market in Europe is likely to grow at a relatively faster pace in the long term.

Question 3: Which segment, in terms of type of blockchain, dominate the blockchain market focusing on drug discovery and clinical trials?
Answer: Currently, private blockchain dominates the blockchain market in drug discovery and clinical trials. However, in the foreseen future, public blockchain is expected to drive the market.

Question 4: Which segment, in terms of type of end-user, accounts for the largest share in the blockchain market focusing on drug discovery and clinical trials?
Answer: Pharmaceutical industries and Academic Institutes are anticipated to capture around 60% of the market share by 2035. In addition, the market for hospitals is likely to grow at a relatively faster pace, in the long term.

Question 5: What kind of partnership models are most commonly being adopted by stakeholders engaged in this domain?
Answer: Platform utilization emerged as the most popular type of partnership model adopted by players engaged in providing blockchain in drug discovery and clinical trials. This is followed by platform integration agreements and strategic alliances.

CHAPTER OUTLINES

Chapter 1 is a preface providing an introduction to the full report, Blockchain in Drug Discovery and Clinical Trials Market, 2023-2035.

Chapter 2 is an executive summary of the key insights captured in our report. It offers 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.

Chapter 3 provides a general 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. Further, the chapter features a discussion on the challenges, key growth drivers, and future perspectives associated with the use of blockchain in drug discovery and clinical trials.

Chapter 4 provides a detailed review of the overall market landscape of blockchain in drug discovery and clinical trials, featuring information on the type of blockchain(s) (public blockchain, private blockchain, and consortium blockchain), type of drug development application(s) (drug discovery, intellectual property management, electronic signature, electronic health record management, clinical trial management, vaccine distribution, drug authenticity, drug data management, and drug supply chain), applications within clinical trial management (operational excellence, predictive analysis, site investigation, patient recruitment and retention, vendor management, patient data management, risk based monitoring, and data visualization) type of end-users (healthcare industry, pharmaceutical industry, and government organizations).

Chapter 5 provides an insightful company competitiveness analysis of blockchain technology providers, based on their supplier strength (in terms of years of experience), portfolio diversity (which considers type of drug development applications, applications within clinical trial management, and type of end-user) and portfolio strength (in terms of the type of blockchain being used).

Chapter 6 provides elaborate 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.

Chapter 7 provides 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 (including acquisitions, platform utilization agreement, platform integration agreement, platform development agreement, research agreements and service agreement, strategic alliance and service alliance) adopted by stakeholders in this domain. Further, the partnership activity in this domain has been analyzed based on various parameters, such as year of partnership, type of partnership, analysis on most active players, type of drug development applications, regional analysis. Further, the chapter includes a world map representation of all the deals inked in this field in the period 2017-2022, highlighting both intercontinental and intracontinental agreements.

Chapter 8 features 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 (in terms of number of articles published and impact factor).

Chapter 9 provides information on the affiliated trends, key drivers and challenges associated with blockchain, under a reliable SWOT framework. The chapter includes a Harvey ball analysis, highlighting the relative impact of each SWOT parameter on the overall blockchain in drug discovery and clinical trials market.

Chapter 10 provides a detailed case study on the history and evolution of blockchain in various industries along with details on its advantages and challenges. Further, it presents information on some of the use cases of blockchain in the education industry.

Chapter 11 presents 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).

Chapter 12 summarizes the overall report. In this chapter, we have provided a list of key takeaways from the report, and expressed our independent opinion related to the research and analysis described in the previous chapters.

Chapter 13 provides the transcripts of interview conducted with key stakeholders in the industry.

Chapter 14 is an appendix, which contains tabulated data and numbers for all the figures provided in the report.

Chapter 15 is an appendix, which contains a list of companies and organizations mentioned in this report
Read the full report: https://www.reportlinker.com/p06414162/?utm_source=GNW

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