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How can Blockchain in Healthcare Aid in Preventing Security Threats?

Posté le: Mar-02-2021 | vue (37) fois | Word Count article: 452 |

The global blockchain in healthcare market is projected to attain a revenue of $890.5 million by 2023, increasing from $44.6 million in 2017, advancing at a 67.1% CAGR during the forecast period (2018–2023).
As the adoption of new technologies is increasing, along with swift digitalization, the cases of cyber-attacks have also been growing across the globe. Owing to the surging incidence of data theft and breach, governments across the globe are focusing on implementing strict regulations for safeguarding consumers’ information. For instance, in May 2018, the General Data Protection Regulation, a new European Union data protection rule, came into effect and aims to protect the citizens of EU from data and privacy breaches.

Due to the implementation of such regulations, enterprises need for invest heavily in data security. Since the blockchain technology offers a number of advantages, such as data security, integrity and trust, its demand is widely rising in the healthcare industry for strengthening their data network and for dealing with data security issues. Owing to such factors, the global blockchain in healthcare market is projected to grow at a significant pace during the forecast period.

The potential of the blockchain technology is wide, and it is just being realized in industries. Because of its extensive possibilities in the medical sector, a number of investments are being made in the domain by both public and private organizations. For instance, Health2047, an enterprise funded by the American Medical Association, invested $10.0 million investment in a blockchain health start-up, Akiri, in January 2018. Factors like these are projected to drive the market in the years to come.

Blockchain technology has the potential to transform the way clinical information and data are being stored and shared across the whole care continuum, such as patients, payers, and partners. On the basis of end user, the market is categorized into healthcare payers, healthcare providers, pharmaceutical companies, and others. Pharmaceutical companies are projected to account for over 50.0% share of the market by 2023, as these companies are adopting and exploring the technology in fields of drug discovery and clinical trials and supply chain management.

In conclusion, the market is growing due to the surging number of data breaches and realization of potential of the blockchain technology.

This study covers
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
• Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
• Major players operating in the market and their service offerings

Source de l'article : can Blockchain in Healthcare Aid in Preventing Security Threats?_1031.aspx

auteur ressource :
P&S Intelligence
International: +1-347-960-6455
Report Description:

Mots-clés : Blockchain in Healthcare, Size, Share, Outlook,

Catégorie : Writing et Parler : Rédaction

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