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1、Application of Blockchain in the Healthcare Industry2023Global Healthcare Market StatisticsThe Healthcare Services Market size was valued at$10.30 Trillion in 2021.Growing at a CAGR of 8.27%for 2023-2030,it is projected to reach$21.06 Trillion by 2030.The global telehealth market size was valued at$

2、250.57 bn in 2020.Registering a CAGR of 13.3%for 2021-2030,it is projected to reach$880.69 bn by 2030.Revenue in the healthcare services segment is estimated to reach$60.72bn by 2023.With a projected market volume of$19.94bn in 2023,most revenue is generated in China.2023-202313.3%CAGR$880.69billion

3、$880.69billion6 Major Shortcomings in the Healthcare IndustryData Fragmentation and InteroperabilityLack of interoperability and fragmented health data systems make it difficult to share patient information seamlessly.Even when 95%of hospitals in the United States have a comprehensive Electronic Hea

4、lth Record(EHR)system in 2021,the interoperability issue still persists.Data Security and Privacy BreachesHealthcare organizations are vulnerable to data breaches,exposing patients sensitive information.A report by the Ponemon Institute revealed that the average cost of a data breach in the healthca

5、re sector was$7.13 million in 2020,higher than any other industry.Administrative Complexity and High CostsAdministrative tasks,such as billing,insurance claims processing,and paperwork,contribute to the complexity and cost of healthcare delivery.According to a study published in the Annals of Intern

6、al Medicine,the estimated administrative costs in the U.S.healthcare system totaled$812 billion in 2017.Lack ofCare CoordinationFragmented care delivery leads to gaps,duplications,and inefficient utilization of healthcare resources.The Agency for Healthcare Research and Quality reported that in 2012

7、-2014,20%of Medicare beneficiaries discharged from hospitals were readmitted within 30 days,often due to poor care coordination.Limited Access to Healthcare ServicesCertain populations,especially in underserved areas or developing countries,face challenges in accessing essential healthcare services.

8、As per the WHO,almost half of the worlds population does not have access to essential health services.Medical Errors and Patient SafetyMedical errors,including misdiagnosis,medication errors,and surgical mistakes,contribute to patient harm and mortality.A study published in The BMJ estimated that me

9、dical errors are the third leading cause of death in the United States,accounting for over 250,000 deaths annually.How Blockchain Can Help?Application of Blockchain in HealthcareData Security and PrivacyBlockchain provides enhanced security and privacy for healthcare data,reducing the risk of data b

10、reaches and unauthorized access.According to a survey by IBM,16%of healthcare executives surveyed had solid plans to implement a commercial blockchain solution by 2020,with an additional 56%expecting to do so by 2025.Interoperability and Data ExchangeBlockchain enables the secure and efficient shari

11、ng of medical records and health information across different healthcare organizations,improving interoperability.A study published in the Journal of Medical Internet Research found that 92%of healthcare professionals believe blockchain technology can solve the current challenges related to interope

12、rability.Drug Traceability And Supply Chain ManagementBlockchain can improve the transparency and traceability of pharmaceutical supply chains,helping to prevent counterfeit drugs and streamline inventory management.WHO estimates that up to 10%of drugs in circulation globally are counterfeit and blo

13、ckchain technology can help address this issue.According to a report by BIS Research,the global blockchain in the healthcare supply chain management market is projected to reach$829.0 million by 2025,growing at a CAGR of 45.80%from 2019 to 2025.Clinical Trials and ResearchBlockchain can enhance the

14、integrity and transparency of clinical trial data,ensuring that results are accurate and tamper-proof.In a survey conducted by Clinical Leader,63%of pharmaceutical executives believed that blockchain would be adopted for clinical trials within the next five years.Patient Data Management and ConsentB

15、lockchain allows patients to have control over their medical data,granting or revoking access as needed,and ensuring consent-based data sharing.A study published in the Journal of Medical Internet Research found that 73%of surveyed healthcare professionals believed blockchain could address the chall

16、enges of consent management for medical data sharing.Health Insurance and Claims ProcessingBlockchain can streamline insurance claims processing,automate verification processes,and reduce fraudulent activities.A study by IBM and the National Health Information Sharing and Analysis Center found that

17、adopting blockchain technology in healthcare could save the industry$100-$150 billion annually by reducing fraud and administrative costs.Telemedicine and Remote Patient MonitoringBlockchain can enhance the security and privacy of telemedicine transactions and remote patient monitoring data.Accordin

18、g to a report by Market Research Future,the global blockchain in the healthcare market is projected to reach a value of$1.6 billion by 2025,driven by the increasing adoption of telemedicine and remote patient monitoring technologies.Summing it Up!The healthcare industry is poised to reap the rewards

19、 of embracing blockchain technology.As we move forward,it is crucial for stakeholders,from healthcare providers to regulators and patients,to embrace the potential of blockchain and work together to harness its power for the betterment of healthcare worldwide.This makes it crucial for healthcare startup founders to efficiently integrate blockchain in their mobile app development.Want to take yourblockchain-powered health and fitness app online in 2023?#1 Mobile App Development Companywww.code-Talk To Us!+1 408-217-1185businesscode-