The blockchain in the healthcare market has significant potential in the near future. Blockchain technology is the current global need as this sector is rapidly shifting towards a patient-centric approach, focusing on the proper storage and management of critical patient information. However, most of the healthcare centers are unable to share their patient-related information due to difficulty in transmission, retrieval, and analysis of data. The centers are also reluctant to share information as such data can be breached, hacked or misused, which becomes a threat to their data security and privacy. Due to this, significant patient information is not accessible at times of need that has led to the adoption of blockchain technology in the healthcare sector.
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Blockchain technology can transform the healthcare sector by providing data security, data privacy and easy exchange of healthcare data. Furthermore, the healthcare centers can record their medical data more efficiently through ease in electronic update and changes and assist in easy data sharing between healthcare providers and the analytical team for early detection of diseases. This leads to improved decision-making, providing optimum treatments, sharing of electronic health records (EHRs) and convenient claim settlement for patients. The global blockchain in healthcare market is being driven by various factors that include increasing demand for data security and privacy, increasing demand for decentralization of medical records, and integration of technological advancements in the healthcare sector.
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There are multiple players competing in this market that include Accenture PLC, IBM Corp., Microsoft Corp., Amazon Web Services, Inc., LeewayHertz, Hashed Health, LLC, BigchainDB GmbH, Intellectsoft, LLC, and others. The key players in the blockchain in the healthcare market implement various strategies for retaining their position and expanding in the global market. These strategies include new product development and launches, partnerships and collaborations, mergers and acquisitions, and innovative technological upgradations.
Global Blockchain in Healthcare Market- Segmentation
By Type
- Private
- Public
- Hybrid
By Application
- Supply Chain Traceability
- Medical Financial Services
- Data Exchange & Interoperability
Global Blockchain in Healthcare Market- Regions
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
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