Report ID :10151888 |
Published Date : 21 Oct 2022 |
Report Format : |
Delivery Timeline :48-72 Business Hours
"In 2021, the value of blockchain in the healthcare market is estimated to be USD 1.2 billion, and it is expected to expand at a compound annual growth rate of 71% from 2022 to 2030. Data interoperability with the help of blockchain is to predict the growth of some factors driving the market development during the forecast period. The global healthcare market blockchain report provides an overall assessment of the market. The report provides a comprehensive analysis of key market segments, trends, driving factors, constraints, competitive landscape, and factors that play an important role in the market.
Global Blockchain in the Healthcare Market Definition:
Blockchain is usually defined as a decentralized system in which transactions or historical records are recorded, stored, and maintained through a peer-to-peer network of personal computers called nodes. In other words, it is an immutable public digital ledger that looks a lot like a database. Blockchain is needed as a powerful disruptive technology, which can cause huge changes in any industry. On the contrary, all data is publicly shared, although the content of each data is only accessible to those with permission. By 2025, the adoption of blockchain technology in the healthcare sector can save the healthcare industry up to US$100-150.
Blockchain can truly revolutionize the entire pharmaceutical industry, as well as the process of drug discovery, development, and distribution. Blockchain in healthcare provides several benefits, such as network infrastructure security at all levels, a unified authorization model for accessing electronic health information, and providing identity verification. The healthcare blockchain can be divided into five key areas: electronic medical record data management, healthcare data protection, personal health record data management, medical point genome management, and electronic health record data management. Traditional methods of healthcare database management systems, including decentralization Management, unalterable database, data source, traceable data, reliable data, data availability for any authorized user, and at the same time away from encrypted patients of unauthorized users independent of private keys.
Overview of the global healthcare blockchain market:
Increasing incidence of information leakage and data leakage, increasing development of invalid healthcare database systems, and increasing implementation of Block as a Service (BaaS), as well as increasing transparency and immutable distribution The demand ledger technology is driving the development of blockchain in the healthcare market. The adoption of blockchain will solve certain problems, such as providing effective data exchange between healthcare providers, which will provide accurate diagnosis, high probability of effective treatment, and overall greater capacity of medical institutions to provide care. profit. The development of efficient medical record systems and the increasing focus on confidential patient information are creating growth opportunities for the market.
For example, in 2019, the Counterfeit Medicines Directive; entered into force in the European Union. These prescription drugs have security features that allow hospitals, pharmacies, or healthcare providers to verify their authenticity, providing huge opportunities for the market. Awareness of the benefits of blockchain in the healthcare industry and the lack of well-trained professionals may hinder market growth. Most blockchain applications are used in the BFSI field, and people do not have enough knowledge and understanding of these applications, which will have a negative impact on the growth of the market.
The major players in the healthcare market blockchain:
Global Blockchain in the Healthcare Market " research report will provide valuable insights, focusing on the global market, including some major players such as GEM, IBM, Factom, Hashed Health , Microsoft Corporation, PokitDok, Patientory, iSlove LLC, Medical Chain and Block Pharma."
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