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Showing posts from June, 2022

Market for Technology in Healthcare on a Global Scale

  The revolutionary use of blockchain technology in data transactions, particularly in the financial sector, has taken the globe by storm. Its widespread success in several industries has boosted demand for this technology in the healthcare business, where it is expected to bring about revolutionary improvements. The worldwide healthcare blockchain market is expected to grow at a 72.8 per cent CAGR from USD 53.9 million in 2018 to USD 829.0 million in 2023. Significant drivers driving the market's growth include the rising prevalence of healthcare data breaches, the issue of counterfeit medications, the growing usage of blockchain as a service (BaaS), and the transparency and immutability of distributed ledger technology. However, the unwillingness to share data and the lack of a centralized institution and a consistent set of standards are projected to limit the market's growth. The healthcare blockchain market has been categorized by application, end-user, and geography in