Sarasota, FL -- (SBWIRE) -- 08/09/2018 -- Global Blockchain Technology in Healthcare Market: Overview
The development in offering competent healthcare services is extremely dependent on its advancements in the information technology, and the ability to store and record information economically and easily as well as share it securely amongst disparate applications & systems. Blockchain technology is gradually being touted as the solution for the interoperability as well as security concern that plague the outmoded health systems.
Global Blockchain Technology in Healthcare Market: Growth Factors
It is anticipated that in the future years, the blockchain technology market is likely to observe a rise in demand and requirement as it is likely to decrease the risks which are related to identity thefts and frauds. Citing this cause, various financial institutions are likely to explore alternatives for collaborating and joining with blockchain start-ups and investing in their R&D ventures. The propagation of the Internet of Things (IoT) across different sectors is also projected to play a vital role in the advancements of these technologies. For example, it is expected to encourage the gradual increase of blockchain technology in the near future. Some of the prospective areas for development for the global blockchain technology market are the smart property, smart contract, healthcare, non-financial sector, and music industries.
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In the healthcare sector, the blockchain technology is anticipated to have an increased demand owing to the increasing cases of medical data breaches, increasing numbers of counterfeit drugs and medicines, and the growing investments in the start-ups that are associated with the healthcare blockchain technology. Other supporting factors for the market growth are increasing adoption of the blockchain as a service (BaaS) solutions and the initiatives taken by the government in order to implement the blockchain technology in the healthcare sector. All these factors are anticipated to drive the growth of the blockchain technology in healthcare market.
Global Blockchain Technology in Healthcare Market: Segmentation
The global blockchain technology in healthcare market is classified in terms of application, type, and region. The blockchain technology in healthcare market is fragmented in terms of types which include private blockchain, public blockchain, and consortium blockchain. The blockchain technology in healthcare market in terms of application division is bifurcated into financial services as well as non-financial sector.
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Global Blockchain Technology in Healthcare Market: Regional Analysis
In terms of region, the global blockchain technology in healthcare market is classified into five major regions such as North America, Asia Pacific, Europe, the Middle East & Africa, and Europe. The global blockchain technology in healthcare market is likely to develop at a rapid pace in the developed provinces such as Europe and North America. In the Asia Pacific, the market is growing in emerging economies such as China and India as well as in Southeast Asia and Japan. The increasing requirement for the developments in the medical sector both in developed and in developing regions gives a wide range of opportunities to the blockchain technology in healthcare market. The increasing recognition of the high volume for particularly unmet demand and requirements in developing provinces is likely to fuel the healthcare division in countries, for instance, India and China.
Global Blockchain Technology in Healthcare Market: Competitive Players
Some of the most important market players in the global blockchain technology in healthcare market are Deloitte Touche Tohmatsu Limited, Microsoft Corporation, R3, IBM Corporation, Consensus Systems (ConsenSys), Chain Inc., Digital Asset Holdings LLC, Ripple, and Credits., among others.
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Global Blockchain Technology in Healthcare Market: Regional Segment Analysis
The Asia Pacific
The Middle East and Africa
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