Study: Blockchain in Healthcare Market will exceed $1.6 Billion by 2025

According to the Global Market Research and consulting firm Global Market Insights, the value of blockchain technology in healthcare market is expected to exceed $1.6 Billion by 2025.

Sept. 9, in a press release, Global Market Insights estimated that the blockchain in healthcare market will expand. This is because of factors such as, implementation of government initiatives and increasing investment in the field.

Blockchain in Healthcare

According to the outlook, this blockchain adoption will impact a lot of things in the healthcare market. The company states:

“Growing awareness about implementation of blockchain technology and government initiative for data standardization and operational scalability constraint in data management will spur industry growth in upcoming years.”

Global Market Insights forecast that a 65.7% compound annual growth rate can happen by 2025. This is due to the widespread deployment of blockchain tech to improve emergency care and clinical outcomes.

A bright Perspective

Global 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%.

This findings got the attention of those information technologies firm Acumen Research and Consulting. During that time, this firm recommended that the volume of the blockchain in healthcare market worldwide will grow more than $1.7Billion by 2026. That is an annual growth rate of 48.1 %

The Ugandan Government partnered with blockchain startup MediConnect to see counterfeit drugs in the country.

A dedicated application, Uber Health Ride which transport patients recently partnered with a blockchain healthcare startup Solve.Care.

It claims to be compliant with the Health Insurance portability and accountability Act of 1996.