Blockchain in Healthcare Market Size – USD 104.4 Million in 2019, Market Growth – CAGR of 64.5%
VANCOUER, BC, CANADA, March 8, 2022 /EINPresswire.com/ — The latest report by emergen research, titled ‘Global Blockchain in Healthcare Market ’ studies a wide spectrum of factors impacting the performance of the Blockchain in Healthcare Market . The report includes a historical analysis of the market from 2020 to 2027 to provide the reader with a deep understanding of the current market scenario.
The global blockchain in healthcare Market is expected to reach USD 5,798.0 Million by 2027, according to a new report by Emergen Research. The blockchain in healthcare is observing a high growth rate attributable to its rising application in supply chain management (SCM), clinical data exchange & interoperability, and claims adjustment & billing management, among others. Several hospitals and organizations are implementing the blockchain technology to record, analyze, and monitor patient information. Moreover, there is an increase in the supply of counterfeit drugs, and this issue can be restrained by adopting the blockchain technology in the healthcare sector. Initiatives are being taken by the government across the globe to tackle the situation.
Growing incidences of healthcare data breaches are a significant factor in driving the blockchain in healthcare market growth. Data breaches may lead to a loss of USD 380.0/ exposed record to the healthcare establishments; however, the existing systems are prone to various kinds of attacks. Patient records are vital to cybercriminals seeking comprehensive identity data, which results in safeguarding electronic health records and related personal information primary importance in the healthcare sector.
