SANTA CLARA, Calif., July 3, 2017 /PRNewswire/ -- In the next five to 10 years, a blockchain ecosystem with healthcare-focused
"Burgeoning connected health devices and the need to protect against data breaches make blockchain, with its ubiquitous security infrastructure, the obvious foundation for emerging digital health workflows and advanced healthcare interoperability. It creates an additional trust layer through unique distributed network consensus that uses cryptography techniques to minimize cyber threats," said Transformational Health Industry Analyst Kamaljit Behera. "Blockchain technology may not be the panacea for healthcare industry challenges needs but it holds the potential to save billions of dollars by optimizing current workflows and disintermediating some high-cost gatekeepers."
Blockchain Technology in Global Healthcare, 2017–2025, new research from Frost & Sullivan's Advanced Medical Technologies Growth Partnership Service program, examines blockchain potential to resolve concerns around data interoperability, cybersecurity, insurance notarization and medical billing frauds, integrity around clinical trials, and drug supply chain provenance. Along with adoption timelines, the study looks at growth opportunities, implementation challenges, government and commercial initiatives, select collaborations and deals, and companies/consortia to watch.
To know more about Frost & Sullivan's research and to sign up for our Growth Strategy Dialogue, a complimentary one-hour interactive session with Frost & Sullivan's thought leaders, please click here.
Key players in the healthcare blockchain market include:
"The healthcare industry needs to establish blockchain consortia to facilitate partnerships and create standards for future implementation on a large scale across healthcare use cases," observed Behera. "A blockchain-based system will enable unprecedented collaboration, bolstering innovation in medical research and the execution of larger healthcare concepts such as precision medicine and population health management. In IoMT, it can settle security, privacy and reliability concerns to allow integration of health data from Internet of Medical Things (IoT) or medical devices for remote and autonomous monitoring. In the pharmaceutical industry, the technology can potentially save $200 billion by inhibiting counterfeit and substandard drugs."
Frost & Sullivan's extensive research covers the use of blockchain-as-a-service, distributed digital ledgers, peer-to-peer networking, cryptographic securing, decentralized computing, healthcare blockchain prototypes, and blockchain artificial intelligence and augmented/virtual reality systems.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community.
Blockchain Technology in Global Healthcare, 2017–2025K1DB-54
Contact:Mariana FernandezCorporate Communications – North AmericaP: +54 11 4778 3540F: +54 11 4777 0071E: Mariana.Fernandez@frost.com
http://ww2.frost.comtwitter: @FS_HealthcareLinkedIn: Transform Health
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