Study: Blockchain in Healthcare Market to Surpass $1.6 Billion by 2025
Ana Alexandre's original article for cointelegraph.com reduced by 59%
The value of the blockchain technology in healthcare market is expected to surpass $1.6 billion by 2025, according to global market research and consulting firm Global Market Insights. In a press release published on Sept. 9, Global Market Insights estimated that the blockchain in healthcare market will grow due to a number of factors such as the implementation of government initiatives and increasing investment in the field.
Growth factors for blockchain in healthcareExamination of medical outcomes, interoperability of health data and cost component reductions will further impact blockchain adoption, according to the outlook. As for the healthcare payers segment of the blockchain in healthcare market, Global Market Insights forecasts that it could see a 65.7% compound annual growth rate by 2025. This section of the market will purportedly grow due to the widespread deployment of blockchain tech in order to improve emergency care and clinical outcomes.
Promising outlookGlobal Market Insights' recent findings echo those of information technologies firm Acumen Research and Consulting in mid-July. At the time, the firm suggested that the volume of the blockchain in healthcare market worldwide will reach more than $1.7 billion by 2026, with a compound annual growth rate of 48.1%.As previously reported, the Ugandan government partnered with blockchain startup MediConnect to trace counterfeit drugs in the country.
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