Research shows that global healthcare blockchain usage will reach $1.6 billion by 2025.

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Research shows that global healthcare blockchain usage will reach $1.6 billion by 2025.

According to data from Global Market Insights, a global market research and consulting company, the value of blockchain technology in the healthcare market is expected to exceed $1.6 billion by 2025.

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In a press release issued on 9/9, Global Market Insights estimated that blockchain in the healthcare market is expected to grow due to various factors, including government initiatives and increased investments in the sector. Factors Driving Growth of Blockchain in Healthcare Blockchain adoption in healthcare is primarily driven by three factors:
  1. Verification of healthcare outcomes
  2. Interoperability of health data
  3. Reduction in cost elements
The increasing awareness of blockchain technology implementation and the scalability of government data standardization and management are expected to stimulate growth in this industry in the coming years. As for the healthcare payer segment market, it is predicted to have a compound annual growth rate of 65.7% by 2025. With the widespread deployment of blockchain technology, this segment of the market is projected to grow, thereby improving emergency care and clinical outcomes. As previously reported, information technology company Acumen Research and Consulting (ARC) also forecasted that the global blockchain in the healthcare sector would reach $1.7 billion by 2026, echoing the findings of this research report, indicating a bright future for the healthcare industry. In another development, the government of Uganda is collaborating with blockchain startup MediConnect to track counterfeit drugs in the country. MediConnect's blockchain-based platform can record prescription drugs to identify counterfeit medicines and prevent their distribution in the drug supply chain. Blockchain healthcare startup Solve.Care is partnering with Uber Health to transport patients. This initiative involves a dedicated application that will allow patients to schedule Uber Health trips and claims to comply with the Health Insurance Portability and Accountability Act of 1996 (HIPAA). Related Reading: Research Report: Global Blockchain in Healthcare to Reach $1.7 Billion by 2026 Additionally, the user base of the Brave browser in Japan continues to grow, and the "Bitcoin Rap Battle" will award 1 bitcoin to commenters.

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