Albany, NY -- (SBWIRE) -- 07/12/2017 -- Block chain technology offers an entirely new model for healthcare information exchanges (HIE). This is achieved by rendering medical records more disintermediated, more efficient, and more secure. Although this technology is not a magic formula, it certainly does provide a fertile ground for experiments, investments, and proof-of-concept testing.

Health care block chain is a database of medical records. Every person on the chain has to confirm every single change in the ledger within a block chain. Since every single client maintains a copy of the block chain, it becomes impossible for anybody to manipulate information or cover up tracks. In healthcare, adoption of block chain technology can resolve some persistent problems such as security and interoperability of healthcare data.

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Block chain technology does not only reduce complexity of operations, it also creates immutable information and allows trustless collaboration. However, the risk of adverse outcomes associated with block chains and skepticism pertaining to the maturity of this technology have been some factors impeding the growth of the global market for health care block chain.

The global market for health care block chain can be segmented by end user, region, and application. By application, the market can be segmented into regulatory compliance data, healthcare and medical records data, and clinical trial data. Clinical trials data comprises of pathology reports, genetic studies information, imaging studies, adverse events, problem lists, and directives. Based on end user, the global market for health care block chain can be segmented into managed care systems, hospitals, and accountable care organizations.

By geography, the global market for health care block chain can be segmented into the Middle East and Africa, Asia Pacific, Europe, Latin America, and North America. North America is ahead of the curve in the global market for health care block chain. Early adoption of block chain technology and extensive research and development activities in the region have been assisting the expansion of the market in this region. Asia Pacific, led by India and China, also promises substantial growth over the forthcoming years.

Block chain Tech Ltd., Philips AG, Deloitte, Digital CC Ltd., IBM Corporation, and Microsoft Corporation are some of the leading companies operating the global market for health care block chain.

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