The use of blockchain technology is rising due to the growing number of data breaches and security incidents, according to the report. In 2017, there were 179 breaches in the healthcare sector. Blockchain adoption could lower the number of security incidents.
Additionally, as healthcare companies implement blockchain solutions to help stop data breaches, the demand for blockchain technology will grow across the globe, reports Big Market Research.
However, the lack of awareness and unwillingness to disclose data are restraints companies in the blockchain market must overcome.
Currently, the healthcare blockchain technology market is predicted to reach $293.3 billion by 2025. Companies such as IBM, Microsoft, Guardtime, and Hashed Health are leading the way.
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