The blockchain in drug discovery and clinical trials market is anticipated to grow at a CAGR of over 20% till 2035, claims Roots Analysis

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Feb 23, 2023, 10:05 ET

Blockchain has emerged as a viable solution for management / exchange of large volumes of healthcare data, demonstrating significant benefits in the healthcare industry.

LONDON, Feb. 23, 2023 /PRNewswire/ -- Roots Analysis has announced the addition of "Blockchain Technology in Healthcare Industry Market (Focus on Drug Discovery and Clinical Trials), 2023-2035" report to its list of offerings.

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.

To order this 160+ page report, which features 70+ figures and 80+ tables, please visit.

https://www.rootsanalysis.com/reports/blockchain-technology-in-healthcare-market.html

Key Market Insights

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

To request a sample copy / brochure of this report, please visit

https://www.rootsanalysis.com/reports/blockchain-technology-in-healthcare-market/request-sample.html

Key Questions Answered

What is Blockchain and How Does it Work?
What is the Future Potential of Blockchain in Healthcare?
Which Pharmaceutical Companies are using Blockchain?
What are the Key Value Drivers of Blockchain Market in Drug Discovery and Clinical Trials?
What is the Current Market Landscape of the Blockchain Market Focused on Drug Discovery and Clinical Trials?
What are the Key Advantages Offered by Novel Blockchain Platforms in Drug Discovery and Clinical Trials?
What are the Key Trends in the Blockchain in Drug Discovery and Clinical Trials Market?
What is the Market Size of Blockchain in Drug Discovery and Clinical Trials Market?
Who are the Key Players in the Blockchain in Drug Discovery and Clinical Trials Market?

The financial opportunity within the blockchain in drug discovery and clinical trials market has been analyzed across the following segments:

Type of Blockchain

Public Blockchain
Private Blockchain
Hybrid Blockchain
Other Blockchains

Type of End-User

Hospitals
Pharmaceutical Industry
Research Institutes
Academic Institutes

Key Geographical Regions

North America
Europe
Asia-Pacific
Rest of the World

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.