BIS Research - Emerging Technology Market Intelligence

Blockchain to Reduce IT and Operation Cost in Healthcare

Apr 23, 2018 6:24:17 AM / by BIS Research posted in Blockchain in Healthcare, Blockchain in Healthcare Market trends, Blockchain in Healthcare Market value, Blockchain in Healthcare Marketresearch, blockchain applications in healthcare, Blockchain in Healthcare Market forecast, Blockchain in Healthcare Market report, Blockchain in Healthcare Market share, blockchain market, blockchain technology in healthcare, Healthcare & Medical

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The lack of interoperability and limited transfer of data between healthcare storage system, make it difficult to transmit, retrieve, and analyze data, and thus most of the data is stored in silos. Blockchain technology can play a vital role in overcoming these shortcomings as it provides various advantages such as more transparent procedure, elimination of intermediaries, streamlining of operational processes, and significant costs. According to the latest market intelligence report by BIS Healthcare titled, ‘Global Blockchain in Healthcare Market- Analysis and Forecast (2018-2025),’ the market is expected to reach a value of $5.61 billion by 2025. Further, the market is expected to grow at a CAGR of 63.85% from 2018-2025. This significant market growth is owing to the use of blockchain to solve the problems related to interoperability and non-standardization, that is responsible for producing data in silos.

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