Global Blockchain Technology in Healthcare Market to Witness Significant Growth Due to Increasing Need for Secure Data Exchange and Interoperability

[San Francisco, USA] - Blockchain technology is being used more and more in the healthcare industry to help solve problems with the exchange of medical information, how systems work together, and privacy. A new report added on Trouve360Reports says that the global market for blockchain technology in healthcare is expected to grow a lot over the next few years.

The report says that the blockchain technology in healthcare market is expected to grow at a compound annual growth rate (CAGR) of 29.1% from 2023-2028, driven by things like the growing need for secure data exchange and the growing use of electronic health records (EHRs).

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Blockchain technology is a decentralized way to store and exchange data that can't be changed. This makes it perfect for use in healthcare, where the security and privacy of patient data are very important. As more and more healthcare providers use EHRs, they face problems with data interoperability, privacy, and security. Blockchain technology can help solve these problems by making data exchanges safe and clear.

The report also says that the use of blockchain technology in clinical trials is likely to help the market grow because it can make the research process more open and accountable. Using blockchain technology, researchers can make a record that can't be changed of the whole clinical trial process, from recruiting participants to analyzing the data.

The report also says that North America is expected to have the largest share of the global blockchain technology market in healthcare. This is because the region has an advanced healthcare infrastructure, more people are using electronic health records, and key players in the region are investing more in blockchain technology.

But the report also says that healthcare providers may not be able to grow the market in some places because they don't know about or understand blockchain technology.

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Key players in the global blockchain technology in healthcare market include IBM, Microsoft, Guardtime, PokitDok, Gem, Chronicled, iSolve, Hashed Health, Patientory, Factom, Proof.Work, SimplyVital Health, FarmaTrust, Blockpharma, Medicalchain, among others.

Overall, the report shows how blockchain technology is becoming more important in healthcare as providers try to make patient data more secure, private, and easy to share. As the use of electronic health records (EHRs) and the need for secure data exchange continue to grow, the demand for blockchain technology in healthcare is likely to grow a lot over the next few years.

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