ARC forecast 1.7 billion dollars until 2026
The new forecast shows, the volume of blockchain technology implemented in healthcare market all over the world, could reach more than $1.7 billion by 2026.
The ARC – consulting services to information technologies firm Acumen Research and Consulting issued a press release on July 16, about the projected that calculates the global blockchain in this market could reach over $1.7 billion by 2026 on the worldwide scale, with a mixed annual growth rate of 48.1%.
The worldwide scale of the blockchain adoption in the healthcare
Geographically speaking, the United States undoubtedly dominates with the largest share in the global blockchain in the market. At this market, the United States is a mature business that hosts the more prominent adoption of smart technology in production and healthcare industry.
The second-ranked after the U.S. is Europe. Europe recognizes its strong government support and massive healthcare spending. Among the significant drivers of blockchain develope in the European healthcare industry, ARC points out increasing investment in blockchain technology and the appearance of multinational companies. But the lack of security is the primary issue that restraining the extension of the blockchain in the European healthcare market as the report further notes.
The research company further defines the Asia Pacific as the region with the fastest growth of the blockchain technology implementation in the market, thanks to the fastest developing economy and associated opportunities in the area. Japan apparently has a mature market, massive population, and highly skilled employees, setting it up to become a vital blockchain in the healthcare market.
Sector’s desire for transparency
Allied Market Research or the ARC, research and consulting firm, forecast earlier in July that the global blockchain supply chain will reach over $9 billion by the end of 2025. Among crucial factors, AMR identified the sector’s demand for transparency as the leading one. Blockchain could ensure the advanced security of supply chain transactions.