Blockchain in Drug Discovery Market

Global Blockchain in Drug Discovery Market Size, Trends & Analysis - Forecasts to 2026 By Type (Public, Private and Others), By Application (Drug Supply Chain Management, Drug Data Management, Finance & Billing Management, Vaccine Distribution, Clinical Trial Management, and Others), By Organization Size (Small and Medium Sized Pharmaceutical Companies, and Large Sized Pharmaceutical Companies), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa), Company Market Share Analysis, and Competitor Analysis

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This report was recently updated on April 17 2024 with the latest and most recent market numbers

Blockchain in Drug Discovery Market Size

The global blockchain in drug discovery market is projected to grow at a CAGR value of 52.1% from 2021 to 2026.

Distributed Ledger Technology (DLT) or generally known as blockchain technology is defined as a series of transparent records, immutable, and documents of a collection of data, and in the pharmaceutical industry, it is defined as the collection of drug data. These secured block data are bounded to one another on the basis of principles of cryptographic. This technology relies on established cryptographic techniques to gain access for each participant in the interconnected network to store, exchange or view information without having a mandate of trust between the interacting parties. Blockchain system doesn’t have a central authority and transaction records are stored and distributed across all network participants. Lately many drug manufacturing firms and companies are facing recurring issues related to counterfeit drugs, and data theft. Counterfeit drugs have an incorrect proportion of required ingredients which ultimately trigger side effects and lead to fatal incidences also.

The augment of blockchain technology in the field of drug discovery and drug development has helped combat counterfeit drug issue. With increasing need for data security, privacy, and interoperability of data, increasing number of counterfeit drug companies, rising issues related to healthcare data theft, and rising trend of patient centric healthcare services, the market for blockchain technology for drug discovery is ought to be growing exponentially.

Moreover, increasing need for drug traceability platform, rising demand for high-level drug authentication, and increased demand for adopting SaaS based blockchain technology, are the major drivers of the blockchain in drug discovery market.

The COVID-19 pandemic impacted the blockchain industry and pharma industry positively. COVID-19 imitated digital transformation of the entire healthcare and pharma industry which induced rapid adoption of blockchain technology in the drug discovery industry. One of the major application areas of blockchain technology namely vaccine distribution, has benefited to an extreme due to the pandemic and rapid technology adoption. The global blockchain in drug discovery market is analyzed to grow rapidly post-COVID-19 pandemic too.

global blockchain in drug discovery market

Blockchain in Drug Discovery Market: By Type

Based on the type of platform, the blockchain in drug discovery market is divided into public, private, and others. The private blockchain platforms can be accessed by only selected and authorized members while, on the other hand, public blockchain platform can be accessed by anyone. The public platform segment is expected to have the largest share in the blockchain in drug discovery market during the forecast period of 2021 to 2026. This is mainly due to high-tech speed, and high efficiency features offered by public over private platforms.

Blockchain in Drug Discovery Market: By Application

Based on the application, the blockchain in drug discovery market is segmented into drug supply chain management, drug data management, finance & billing management, vaccine distribution, clinical trial management, and others. Vaccine distribution segment is expected to be growing the fastest in the blockchain in drug discovery market owing to rising need for COVID-19 vaccination drives across the globe, increasing prevalence of COVID like viral infection, and rising trend of patient centric healthcare service.

Blockchain in Drug Discovery Market: By Organization Size

Based on the size of the organization, the blockchain in drug discovery market is segmented into small and medium sized pharmaceutical companies, and large sized pharmaceutical companies. The large sized pharmaceutical companies is expected to hold the largest share of the blockchain in drug discovery market from 2021 to 2026.

Novartis, Merck, United Healthcare, NMC Healthcare, Roche group, Pfizer Inc., McKesson Corp., and AmerisourceBergen Corp. Akiri, BurstIQ, and Avaneer among others are some of the giants who are currently applying blockchain technology for vaccine distribution, drug development and management. The small and medium sized pharmaceutical companies segment is expected to grow with the highest growth rate during the forecast period of 2021 to 2026.

asia pacific blockchain in drug discovery market

Blockchain in Drug Discovery Market: By Region

As per the geographical analysis, the blockchain in drug discovery market can be classified into North America (the United States, Canada, and Mexico), Asia Pacific (India, China, Japan, Malaysia, Singapore, and the Rest of Asia Pacific), Europe (Germany, United Kingdom, Italy, France, Spain, Netherlands, and Rest of Europe), Middle East & Africa (Saudi Arabia, United Arab Emirates, and Rest of the Middle East & Africa) and Central & South America (Brazil, Argentina, and Rest of Central and South America).

North America (the United States, Canada, and Mexico) will have a dominant share in the blockchain in drug discovery market from 2021 to 2026. Presence of giant pharma players in the U.S., dominance of top blockchain providers in North America, high awareness regarding data management and counterfeit drug, and rising support from government and private bodies to adopt blockchain technologies are some of the factors driving the North American blockchain in drug discovery market.

Moreover, the Asia-Pacific region is expected to be the fastest growing segment in the blockchain in drug discovery market during the forecast period. Increasing prevalence of infectious diseases, rising number of geriatric patients, rising need to manage large data sets, and increasing demand to streamline vaccine distribution in developing and highly populated countries are some of the parameters supporting the growth of the Asia Pacific blockchain in drug discovery market.

Blockchain in Drug Discovery Market Share and Competitor Analysis

IBM, Microsoft, Guardtime, PokitDok, Gem, Chronicled, iSolve, Hashed Health, Patientory, SimplyVital Health, FarmaTrust, Blockpharma, Medicalchain, Innoplexus, ClinTex, Embleema, Doc.AI, Triall, Alten Calsoft Labs, FarmaTrust, and Tech Mahindra among others are the key players in the blockchain in drug discovery market.

Please note: This is not an exhaustive list of companies profiled in the report.

Chapter 1   Methodology

1.1    Market Scope & Definitions

1.2    Estimates & Forecast Calculation

1.3    Historical Data Overview and Validation

1.4    Data Sources

1.4.1    Secondary

1.4.2    Primary

Chapter 2   Report Outlook

2.1    Blockchain in Drug Discovery Industry Overview, 2021-2026

2.1.1    Industry Overview

2.1.2    Type Overview

2.1.3    Application Overview

2.1.4    Organization Size Overview

2.1.6    Regional Overview

Chapter 3   Blockchain in Drug Discovery Market Trends

3.1    Market Segmentation

3.2    Industry Background, 2021-2026

3.3    Market Key Trends

3.3.1    Positive Trends

3.3.1.1    Increasing demand for blockchain technology in vaccine distribution management

3.3.2    Industry Challenges

3.3.2.1    Lack of blockchain technology awareness in third world nations

3.4    Prospective Growth Scenario

3.4.1    Type Growth Scenario

3.4.2    Application Growth Scenario

3.4.3    Organization Size Growth Scenario

3.5    COVID-19 Influence over Industry Growth

3.6    Porter’s Analysis

3.7    PESTEL Analysis

3.8    Value Chain & Supply Chain Analysis

3.9    Regulatory Framework

3.9.1    North America

3.9.2    Europe

3.9.3    APAC

3.9.4    LATAM

3.9.5    MEA

3.10    Organization Size Overview

3.11    Market Share Analysis, 2020

3.11.1    Company Positioning Overview, 2020

Chapter 4   Blockchain in Drug Discovery Market, By Type

4.1    Type Outlook

4.2    Public

4.2.1    Market Size, By Region, 2021-2026 (USD Billion)

4.3    Private

4.3.1    Market Size, By Region, 2021-2026 (USD Billion)

4.4    Others

4.4.1    Market Size, By Region, 2021-2026 (USD Billion)

Chapter 5   Blockchain in Drug Discovery Market, By Application

5.1    Application Outlook

5.2   Drug Supply Chain Management

5.2.1    Market Size, By Region, 2021-2026 (USD Billion)

5.3    Drug Data Management

5.3.1    Market Size, By Region, 2021-2026 (USD Billion)

5.4    Finance & Billing Management

5.4.1    Market Size, By Region, 2021-2026 (USD Billion)

5.5    Vaccine Distribution

5.5.1    Market Size, By Region, 2021-2026 (USD Billion)

5.6    Clinical Trial Management

5.6.1    Market Size, By Region, 2021-2026 (USD Billion)

5.7    Others

5.7.1    Market Size, By Region, 2021-2026 (USD Billion)

Chapter 6   Blockchain in Drug Discovery Market, By Organization Size

6.1    Small and Medium Sized Pharmaceutical Companies

6.1.1    Market Size, By Region, 2021-2026 (USD Billion)

6.2    Large Sized Pharmaceutical Companies

6.2.1    Market Size, By Region, 2021-2026 (USD Billion)

Chapter 7   Blockchain in Drug Discovery Market, By Region

7.1    Regional outlook

7.2    North America

7.2.1    Market Size, By Country 2021-2026 (USD Billion)

7.2.2    Market Size, By Type, 2021-2026 (USD Billion)

7.2.3    Market Size, By Application, 2021-2026 (USD Billion)

7.2.4    Market Size, By Organization Size, 2021-2026 (USD Billion)

7.2.6    U.S.

7.2.6.1    Market Size, By Type, 2021-2026 (USD Billion)

7.2.4.2    Market Size, By Application, 2021-2026 (USD Billion)

7.2.4.3    Market Size, By Organization Size, 2021-2026 (USD Billion)

7.2.7    Canada

7.2.7.1    Market Size, By Type, 2021-2026 (USD Billion)

7.2.7.2    Market Size, By Application, 2021-2026 (USD Billion)

7.2.7.3    Market Size, By Organization Size, 2021-2026 (USD Billion)

7.3    Europe

7.3.1    Market Size, By Country 2021-2026 (USD Billion)

7.3.2    Market Size, By Type, 2021-2026 (USD Billion)

7.3.3    Market Size, By Application, 2021-2026 (USD Billion)

7.3.4    Market Size, By Organization Size, 2021-2026 (USD Billion)

7.3.6    Germany

7.3.6.1    Market Size, By Type, 2021-2026 (USD Billion)

7.3.6.2    Market Size, By Application, 2021-2026 (USD Billion)

7.3.6.3    Market Size, By Organization Size, 2021-2026 (USD Billion)

7.3.7    UK

7.3.7.1    Market Size, By Type, 2021-2026 (USD Billion)

7.3.7.2    Market Size, By Application, 2021-2026 (USD Billion)

7.3.7.3    Market Size, By Organization Size, 2021-2026 (USD Billion)

7.3.8    France

7.3.7.1    Market Size, By Type, 2021-2026 (USD Billion)

7.3.7.2    Market Size, By Application, 2021-2026 (USD Billion)

7.3.7.3    Market Size, By Organization Size, 2021-2026 (USD Billion)

7.3.9    Italy

7.3.9.1    Market Size, By Type, 2021-2026 (USD Billion)

7.3.9.2    Market Size, By Application, 2021-2026 (USD Billion)

7.3.9.3    Market Size, By Organization Size, 2021-2026 (USD Billion)

7.3.10    Spain

7.3.10.1    Market Size, By Type, 2021-2026 (USD Billion)

7.3.10.2    Market Size, By Application, 2021-2026 (USD Billion)

7.3.10.3    Market Size, By Organization Size, 2021-2026 (USD Billion)

7.3.11    Russia

7.3.11.1    Market Size, By Type, 2021-2026 (USD Billion)

7.3.11.2    Market Size, By Application, 2021-2026 (USD Billion)

7.3.11.3    Market Size, By Organization Size, 2021-2026 (USD Billion)

7.4    Asia Pacific

7.4.1    Market Size, By Country 2021-2026 (USD Billion)

7.4.2    Market Size, By Type, 2021-2026 (USD Billion)

7.4.3    Market Size, By Application, 2021-2026 (USD Billion)

7.4.4    Market Size, By Organization Size, 2021-2026 (USD Billion)

7.4.6    China

7.4.6.1    Market Size, By Type, 2021-2026 (USD Billion)

7.4.6.2    Market Size, By Application, 2021-2026 (USD Billion)

7.4.6.3    Market Size, By Organization Size, 2021-2026 (USD Billion)

7.4.7    India

7.4.7.1    Market Size, By Type, 2021-2026 (USD Billion)

7.4.7.2    Market Size, By Application, 2021-2026 (USD Billion)

7.4.7.3    Market Size, By Organization Size, 2021-2026 (USD Billion)

7.4.8    Japan

7.4.7.1    Market Size, By Type, 2021-2026 (USD Billion)

7.4.7.2    Market Size, By Application, 2021-2026 (USD Billion)

7.4.7.3    Market Size, By Organization Size, 2021-2026 (USD Billion)

7.4.9    Australia

7.4.9.1    Market Size, By Type, 2021-2026 (USD Billion)

7.4.9.2    Market size, By Application, 2021-2026 (USD Billion)

7.4.9.3    Market Size, By Organization Size, 2021-2026 (USD Billion)

7.4.10    South Korea

7.4.10.1    Market Size, By Type, 2021-2026 (USD Billion)

7.4.10.2    Market Size, By Application, 2021-2026 (USD Billion)

7.4.10.3    Market Size, By Organization Size, 2021-2026 (USD Billion)

7.5    Latin America

7.5.1    Market Size, By Country 2021-2026 (USD Billion)

7.5.2    Market Size, By Type, 2021-2026 (USD Billion)

7.5.3    Market Size, By Application, 2021-2026 (USD Billion)

7.5.4   Market Size, By Organization Size, 2021-2026 (USD Billion)

7.5.6    Brazil

7.5.6.1    Market Size, By Type, 2021-2026 (USD Billion)

7.5.6.2    Market Size, By Application, 2021-2026 (USD Billion)

7.5.6.3    Market Size, By Organization Size, 2021-2026 (USD Billion)

7.5.7    Mexico

7.5.7.1    Market Size, By Type, 2021-2026 (USD Billion)

7.5.7.2    Market Size, By Application, 2021-2026 (USD Billion)

7.5.7.3    Market Size, By Organization Size, 2021-2026 (USD Billion)

7.5.8    Argentina

7.5.7.1    Market Size, By Type, 2021-2026 (USD Billion)

7.5.7.2    Market Size, By Application, 2021-2026 (USD Billion)

7.5.7.3    Market Size, By Organization Size, 2021-2026 (USD Billion)

7.6    MEA

7.6.1    Market Size, By Country 2021-2026 (USD Billion)

7.6.2    Market Size, By Type, 2021-2026 (USD Billion)

7.6.3    Market Size, By Application, 2021-2026 (USD Billion)

7.6.4    Market Size, By Organization Size, 2021-2026 (USD Billion)

7.6.6    Saudi Arabia

7.6.6.1    Market Size, By Type, 2021-2026 (USD Billion)

7.6.6.2    Market Size, By Application, 2021-2026 (USD Billion)

7.6.6.3   Market Size, By Organization Size, 2021-2026 (USD Billion)

7.6.7    UAE

7.6.7.1    Market Size, By Type, 2021-2026 (USD Billion)

7.6.7.2    Market Size, By Application, 2021-2026 (USD Billion)

7.6.7.3    Market Size, By Organization Size, 2021-2026 (USD Billion)

7.6.8    South Africa

7.6.7.1    Market Size, By Type, 2021-2026 (USD Billion)

7.6.7.2    Market Size, By Application, 2021-2026 (USD Billion)

7.6.7.3    Market Size, By Organization Size, 2021-2026 (USD Billion)

Chapter 8   Company Landscape

8.1    Competitive Analysis, 2020

8.2    Innoplexus

8.2.1    Company Overview

8.2.2    Financial Analysis

8.2.3    Strategic Positioning

8.2.4    Info Graphic Analysis

8.3    ClinTex

8.3.1    Company Overview

8.3.2    Financial Analysis

8.3.3    Strategic Positioning

8.3.4    Info Graphic Analysis

8.4    Embleema

8.4.1    Company Overview

8.4.2    Financial Analysis

8.4.3    Strategic Positioning

8.4.4    Info Graphic Analysis

8.5    Doc.AI

8.5.1    Company Overview

8.5.2    Financial Analysis

8.5.3    Strategic Positioning

8.5.4    Info Graphic Analysis

8.6    Triall

8.6.1    Company Overview

8.6.2    Financial Analysis

8.6.3    Strategic Positioning

8.6.4    Info Graphic Analysis

8.7    Alten Calsoft Labs

8.7.1    Company Overview

8.7.2    Financial Analysis

8.7.3    Strategic Positioning

8.7.4    Info Graphic Analysis

8.8    FarmaTrust

8.8.1    Company Overview

8.8.2    Financial Analysis

8.8.3    Strategic Positioning

8.8.4    Info Graphic Analysis

8.9    Tech Mahindra

8.8.1    Company Overview

8.8.2    Financial Analysis

8.8.3    Strategic Positioning

8.8.4    Info Graphic Analysis

8.10    IBM

8.10.1    Company Overview

8.10.2    Financial Analysis

8.10.3    Strategic Positioning

8.10.4    Info Graphic Analysis

8.11    Other Companies

8.11.1    Company Overview

8.11.2    Financial Analysis

8.11.3    Strategic Positioning

8.11.4    Info Graphic Analysis

The Global Blockchain in Drug Discovery Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Blockchain in Drug Discovery Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

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Frequently Asked Questions

The global blockchain in drug discovery market is projected to grow at a CAGR value of 52.1% from 2021 to 2026.
IBM, Microsoft, Guardtime, PokitDok, Gem, Chronicled, iSolve, Hashed Health, Patientory, SimplyVital Health, FarmaTrust, Blockpharma, Medicalchain, Innoplexus, ClinTex, Embleema, Doc.AI, Triall, Alten Calsoft Labs, FarmaTrust, and Tech Mahindra among others are the key players in the blockchain in drug discovery market.
The North American region is estimated to hold the highest market share in the blockchain in drug discovery market.
The COVID-19 pandemic impacted the blockchain industry and pharma industry positively. COVID-19 imitated digital transformation of the entire healthcare and pharma industry which induced rapid adoption of blockchain technology in the drug discovery industry. One of the major application areas of blockchain technology namely vaccine distribution, has benefited to an extreme due to the pandemic and rapid technology adoption. The global blockchain in drug discovery market is analyzed to grow rapidly post-COVID-19 pandemic too.
The augment of blockchain technology in the field of drug discovery and drug development has helped combat counterfeit drug issue. With increasing need for data security, privacy, and interoperability of data, increasing number of counterfeit drug companies, rising issues related to healthcare data theft, and rising trend of patient centric healthcare services, the market for blockchain technology for drug discovery is ought to be growing exponentially.

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