Health Care Block Chain Market Growth, Trend, Demand and Forecast Health Care Block Chain Market - Global Industry A

Health Care Block Chain Market - Global Industry Analysis, Size,
Share, Growth, Trends, and Forecast 2017 – 2025
Block chain is an electronic ledger technology scattered over different computing nodes and
entries. Block chain is a distributed database that maintains a list of records, chained together against
amendment and interfering. Within the block chain, all changes in the ledger should be confirmed by
everyone on the chain. Distributed consensus is an agreement between different computed-nodes
over what is true or false record. As every client has a copy of block chain, it is impossible to manipulate
information and cover up the tracks. The integrity and origin of information systems can be
mathematically proven. Nodes can confirm and then improve information to their copy of block chain
database which then informs other nodes with the amended information.
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Block chain for health care is a lucrative market due to its potential to resolve some long-standing
difficulties of health IT, such as interoperability and security of health data. Block chain in health care
provides benefits such as security and health data interoperability. Block chain is a system that
assures the integrity of data and prevents tampering. Block chain technology has the potential to
transform health care, with increasing privacy, security, and interoperability of health data. Block chain
technology provides innovative way for health information exchanges (HIE) as it makes electronic
medical records more secure, efficient, and disintermediated. This technology is rapidly evolving as it
provides abundant ground for experimentation and investment. Block chain technology creates
chances to reduce complexity, secure information, allow trustless collaboration, and create immutable
information.
Risk of adverse events associated with the health care industry and disbelief in immaturity of the
technology and inadequate services of companies offering block chain technology are considered to
be primary barriers for adoption of block chain technology in the health care sector. Data stored in the
health care domain are quite sensitive. The manner in which a patient’s information is stored before it
is thoroughly vetted is under stringent regulation which does not allow major disruption in information.
Slow approval of technology around block chain adoption, and patient’s concern regarding block chain
technology are the major pitfalls of adoption of block chain technology in health care domain.
Requirement of significant processing power and advanced hardware and software systems needed
can hinder block chain adoption in health care.
The global health care block chain market can be segmented into application, end-user, and region.
In terms of application, the market can be segmented into clinical trial data, regulatory compliance
data, medical and health care records data, and others. Clinical trial data includes genetic studies
information, adverse events, directives, pathology reports, imaging studies, and problem lists.
Adoption of block chain technology in clinical trials provides benefits because transparency of recorded
data will increase the trust among patients and doctors. Medical and health care records include public
health data, administrative, and financial information. Public health data includes information