Blockchain in healthcare Market Size Historical Growth, Analysis, Opportunities and Forecast To 2025

The “Blockchain in healthcare Market” Report provides a complete decision-making overview including definition, product specifications, market gains, key geographic regions and imminent Blockchain in healthcare industry peers for 2025.
Blockchain in healthcare industry is an ingenious invention that allows digital information to be distributed but not copied, blockchain technology is created as the backbone of new type of internet. Similarly, the blockchain technology can be defined as an interoperable digital ledger that records all the economic transactions, that include financial transactions and virtual everything of value. The information that is shared in the blockchain is continuously recoiled in the central database that cannot be hacked or corrupted. Blockchain has transformative potential for the healthcare systems, this offers the potential of creating new business models in healthcare sectors. This new business model would support easy exchange of health data of individuals, and would allow them to manage consent and access to their health data where they see it’s fit. The exchange of personal health records and health information exchange data via the protocol of integrating the health information which has helped in addressing the challenges of system interoperability and access to medical records.

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The global blockchain in healthcare market is primarily driven by the factors such as rising need for data interoperability for maintaining personal health records, and easy data sharing between the telemedicine & traditional care providers. Additionally, emerging blockchain technology that influence cost cutting in this industry, and easy healthcare data transfer between the healthcare providers and payers for insurance claim to grow the market during the forecast period. Blockchain in healthcare is an untapped technology which offers additional layer of trust to minimize cybersecurity globally & is directly adding up to the market growth.
However, the high cost of this technology, and limited awareness for its use in healthcare industry might restraint the growth of this market during the forecast period.
On the basis of application type, blockchain in healthcare market is segmented into:
• Clinical Data Exchange & Interoperability
• Supply Chain Management
• Claims Adjudication & Billing
On the basis of end use type, Blockchain in healthcare market is segmented into:
• Pharmaceutical Companies
• Healthcare Payers
• Healthcare Providers
Geographically, the global Blockchain in healthcare market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Increasing demand for blockchain technology, and continuous research and development for understanding blockchain application in North America.

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North America region is expected to hold a dominating position in the blockchain healthcare market. The growth of this region is primarily driven by the increasing need of connectivity in the healthcare sector, continuous study by the key players to establish new partnership in health information technology ecosystem. In addition, the increasing need of proper regulatory bodies that promote adoption of blockchain in healthcare would influence the market growth in North America.

However, Asia Pacific is expected to grow rapidly during the forecast period, due to increasing demand of information technology in healthcare industry, rising need for developing healthcare infrastructure for avoiding death incidences due to medical errors in the countries like India and China. Furthermore, rising healthcare IT investments by the developing countries to boost the healthcare blockchain market in Asia Pacific.
Key players in the Global Blockchain Technology in healthcare market are:
• IBM
• Microsoft Corporation
• Chornicled
• Gaurdtime
• Hashed Health
• MedicalChain SA
• Simplyvital Health
• Pokitdok, Inc.
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