Rising Usage Of Blockchain Technology In The Health Care Market Outlook : Ken Research

The health care industry is growing rapidly with the increasing in the concern of disease and several viral in the respective economy. However unsurprisingly, the health care industry is a profit making market is becoming more effective by the time and with the significant development in the technologies of the health care industry. In this industry the technology is playing vital role as in the recent trend with the help of technology several tests to be done and can easily detect the dangerous disease such as cancer and others. According to the report analysis, ‘Market Research Reports For Health Care’ states that in the coming years the technology in this sector will drive the market more enormously and the technology of Blockchain has potential to transform the health care market with the various application which includes increasing the security, privacy and interoperability of health data.

Many of the people have heard a lot related to the blockchain as a portrait of a cryptocurrency called bitcoin but is has much wider use then this, including various industries. The usage of blockchain in the health care industry is that creates immutable and distributable data records which can be shared peer to peer between networked database systems. With the help of this technology the data is theoretically secured and protected from data breach threats. Moreover, in a research it is observed that the Silicon Republic, blockchain startups raised USD 1.4 billion in 2016 and USD 1.0 million in 2017 thus the financial sector has already realized the benefits of using the blockchain. Additionally, the opportunities for health care industry from the blockchain technology are plentiful and in the future this technology in the industry has a wide usage and lead to significant growth as due to this technology the development is done in the health care record systems, wearable devices and others. One of the blockchain approaches that allows for the secure recording and sharing information to the public blockchain with this approach many of the health care institutes and hospitals are admiring this technology.

According to the report analysis, ‘Health Care Market Research Reports’ states that the applications of blockchain technology will lead the market growth even more significantly and blockchain provides a more secure way to protect data than ordinary encryption whereas, it excludes intermediation in data sharing, while using blockchain. Moreover, in 2018 the pharmaceutical companies sector is expected to account for the largest share of the health care blockchain.

It is expected that in the coming years, the North America will be accounted for the largest share in the market followed by Asia Pacific region. Additionally, the large share of North America is attributed to increase of data breaches in the region and rising need to address the dramatic rise in the health care costs in the region. Furthermore, the Europe is also doing so many developments in the technology of blockchain for acquiring huge market share in the coming years.

 IBM and Microsoft the companies in US which are currently functioning in this sector globally in an effective manner and acquiring major share in the market together. Moreover, Patientory, iSolve, Blockpharma and others are the major players of this industry which are working more significantly which make the market more competitive. Therefore, it is expected that in the coming years the market of blockchain in the health care industry will grow rapidly and will lead to significant growth over the decades with the more financial support from the new entrants.

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Increasing Demand of Cloud Computing In Health Care Industry Market Outlook: Ken Research

Healthcare industry is prevailing with the efficient development in the technology of treatment and this technological change, totally enhanced the culture of treatment. Moreover, significant development in the technology and present scenario signify the high growth in this industry. No doubt, the healthcare industry is a multi-billion dollar industry whose outlook is supposed to rise in the forecast period with the significant innovation in the technology. This industry is not only associated with the technology of treatment but it also has those technology which can ensure huge data of patients and other important information related to doctors, about the treatment procedure and all. According to the report analysis, ‘Market Research Reports For Health Care’ suggests that healthcare industry has been moved to digital platform today where it collects plenty of data. Whereas, many companies offering the cloud computing services that mainly focused on healthcare data to transform it into meaningful information.

With the technology of cloud computing technology the healthcare centers are make it possible to share large data files with the convenience that not only store or saves healthcare data or cost respectively but boosts efficiency too. In addition, the cloud computing is changing the way of doctors, clinics, hospitals deliver quality, nurses and cost-effective services to their patients. The cloud computing technology improved patient care services as different health services are moved from a physical environment to a digital environment. Users can share, store, and view their records in the cloud whereas, the doctors can process and hide them remotely as well. Moreover, the Amazon’s Web Services (AWS) are currently in the process of analyzing genomic data, which can majorly help medical practitioners take a deep dive into the causes of ovarian cancer and breast cancer. It also allows safe exchange to make between two parties and also transform data into meaningful information to make valuable decision in future. According to the report analysis, ‘Health Care Market Research Reports’ states that the cloud computing technology has become a vital tool in the healthcare field for better collaboration and allows everyone easy storage and remote access of healthcare data to professionals. In addition, cloud computing also performs vital functions in patients billing and reduces capital expenditure which is linked with the conventional mode of billing and others.

The market of healthcare in North America is expected to dominate the handsome amount of share in the recent trends whereas, the Asia Pacific region is doing more innovations in the cloud computing technology and lead to significant growth in the forecasted period. Europe and other regions are also welcoming the new investors which are making the market more competitive and support the market financially in an efficient manner. The other regions are also evaluating the applications and cloud computing and make it ensure in the process of storage of data and sharing with the trustworthy people.

Carestream Corporation, Dell Inc., DICOM Grid Inc., Athenahealth, Cerner Corporation, ClearData Networks Inc., Siemens Healthineers, NTT DATA Corporation, Epic System Corporation are the major key players across the globe who are currently functioning in the global healthcare cloud computing market whereas, Dell Inc. is the leading player who are currently dominating the major portion of share in the market. Moreover, Sectra AB and Merge Healthcare Inc. are also expected to acquire handsome amount of share in the market in the coming years.

With the more innovations in the applications of cloud computing technology the market of health care is going to grow rapidly. Moreover, the US is making development in the technology and changing the trend of healthcare industry. Therefore, the industry of health care is going to increase globally over the decades.

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Focus Towards Medical Tourism In Health Care Industry Market Outlook-Ken Research

The present scenario and significant development in the healthcare industry forecast that this industry will never suffer with the dull days. With this positive point, healthcare is among the most lucrative jobs options. Not only has this, with the increase in the growth of healthcare industry more developments are done in this field which make the treatment of affected person more effective and smooth. Asia-Pacific region is the fastest-growing region in the global medtech market. Whereas, most of the association of Southeast Asian nations countries, medical tourism represents a third or more of private hospital revenue. According to the report analysis, ‘Healthcare Industry Research Report’ suggests that in the coming years the medical tourism is going increase rapidly in the coming years with more development in the economy.

In the recent few years, 120+ million medical tourists traveled abroad to entreat health care services. Moreover, in the forecasted period this number will grow significantly with the more development in the vaccination of patients. If we talk related to the revenue of worldwide tourism then it will generate billion tons of revenue in the recent few years and expected to grow more in the forecasted period in an efficient manner. In the Asia Pacific region foreign patients are the major revenue generator for private hospitals in this region. In India, Medical Tourism accounts for handsome percent of revenue and in South Korea and other regions accounts less percent of revenue as compared to India. In the recent few years, millions of patients treated in Asia-Pacific region and generated billion euros in revenue therefore the medical tourism sector is growing in the Asia Pacific region which further lead to significant growth in the healthcare industry. However, the Southeast Asian Healthcare market is expanding faster than in other region whereas; it is especially driven by the private sector and, notable, medical tourism. Therefore, this sector will grow extensively with more development in the technology and development in the economy. According to the report analysis, ‘Health Care Industry Research and Market Reports’ suggests that the Asia-Pacific region is dominating the huge share in the healthcare industry followed by South Korea, Taiwan, Philippines and others.

Due to the extensive competition in the healthcare industry, the private sector in the Asia-Pacific region are upgrading their technology regularly and recruiting more experienced doctors for doing successful treatment. Moreover, with the more development in the technology, in the recent trend this sector has started attracting more international hospital investors and groups for entreating the market. Key players such as Mayo Clinic, John Hopkins Singapore and Anadolo Medical center and others are teaming up with other multinational players and seeking to develop countries medical tourism. Moreover, the increasing number of private hospitals and investors ensuring global health care services create extensive competition between the countries and key players of the health care industry. Moreover, the growth of this industry is also depend on the how government and private sector can work together and creates a productive medical tourism ecosystem.

Increase in the disposable income of the patient seeks high-quality care in high-standard settings, which can offer medical tourism destinations. The people who are insured their healthcare insures motivate patients to seek more cost-effective medical provision outside their home countries. Additionally, private hospitals chains and investors perceive medical tourism in Asia-Pacific as attractive business opportunities and invest in staff and services.

With the more development and extensive interference of government promoting medical tourism in their countries and many nations in the Asia-Pacific region regarding medical tourism as a resource for economic development. Therefore, it is expected that the health care industry will grow in the coming years over the decades with the increase in the tourism and wealth of the patients.

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Trends In Healthcare Insurance Market Outlook-Ken Research

Market Research Report for Health Care states that Change in lifestyles and luxuries come with the cost and in corporate driven career world, this cost is health. One of the most controversial and debatable topic of the world is healthcare policies and practices. Health insurance is a type of coverage that pays for insured person’s medical and surgical expenses which saves them from huge financial loss. It has been observed that Health Insurance has grown immensely over a decade. Insurance act 1938 even holds a separate special amendment for health insurance different from life and non-life insurance. The most basic and important principle of insurance is UTMOST GOOD FAITH which states that insurer and insured must possess full faith on each other and should disclose all relevant information related to insurance prior to the agreement.

Increase in office hours and unhealthy food intake has made health prime concern for all age groups as it leads to health complications ranging from obesity to cardiac attack. Therefore health insurance has become the basic need of the hour to be away from such unexpected attacks and extravagant expenses attached to it. Older citizens are more prone to chronological illness and diabetes. There are few things to be kept in mind while buying Health insurance for better services:

Market Research: thorough market research is prerequisite to get best health insurance plan that would fulfill all the requirements of insured.

Coverage Option: In every health insurance there is provision of what would be covered and what not. Therefore beforehand information is beneficial while choosing plan.

Enlisted Specialist: There is a list of specialist enlisted by insurance company, one must always keep them in consideration and ensure there is an alternate medical specialist listed.

Terms and Condition: It’s very important to read all the terms and condition and check all the medical test mentioned to be taken before the insurance plan is signed.

Insured must not hesitate to contact insurer in case of any doubt to avoid any scope of miscommunication and misunderstanding after the agreement is duly signed.

Over the years uninsured citizen rate has decreased in developing and developed countries providing great competitive opportunities to health insurers. Raising option of awareness and altering them to give the best alternative to cater patient needs. According to Health Care Industry Research Report Developing countries like India by 2020 would see a great increase in healthcare industries and thus IRDAI has formed same rules and regulation for government and private health insurance company to ensure safety of client. Government insurance providers are open for negotiation and offer services at discounted rates still people are more inclined towards private sector insurance provider as they have benefit of restoration and offers full coverage on medical expenses. In developed countries such as The United States of America humana, profit insurance provider organization has a great market share than any private provider or AARP. In Europe EHIC is the market leader. The common objective of every health insurance company whether government or private comes down to providing cost- effective and satisfying services to their client.

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Ankur Gupta, Head Marketing & Communications

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