By
Godfrey Benjamin
April 18th, 2024
Acumen Research and Consulting Agency recently published a report on the overall market capitalization on blockchain in Healthcare to hit an all-time high of $1.7 billion come 2026.
Following a press publication by Acumen Research and Consulting Agency on Tuesday, July 16th, it was gathered that the Size, Share, Trends and Growth Opportunity of blockchain in healthcare market would experience a massive increase within the year span of 2019-2026 with an expected CAGR growth rate of 48.1% during this forecast period.
According to this detailed press release by Acumen Research and Consulting Firms, America (predominantly US) dominates the blockchain in healthcare market as an established marketplace which serves as the right platform for a greater adoption of smart technology into the manufacturing and healthcare services.
An increase in the amount of such infrastructures as skilled labor, government support and rapid growth in industrialization has put Europe on the forefront right after America. Another notable catalyst of underlying blockchain technology in the European market is ARC advisory group. The leading technology market research firms point out that increasing expenditure on technology and the presence of multinational companies has boosted the growth in European countries. The report further expressed:
“However, lack of security is the major factor restraining the growth of the blockchain in healthcare market in Europe.”
Asia Pacific region, in it’s turn, named as the region boasting fastest growth rate in terms of blockchain adoption in healthcare. While it’s certainly due to the fastest growing economy and associated opportunities, namely Japan, famous for a mature market, large population, and highly skilled labor, has most potential to become a key player in the blockchain in healthcare market, the report states.
AMR, Allied Market Research and Consulting Firm, also surmised earlier in July that the global blockchain supply chain market will reach over $9 billion by 2025. This is due to the fact that the blockchain in healthcare currently enjoys further enactment due to an advancement in the banking methodology of the modern-day financial system on a worldwide scale.
Resulting in an upsurge in the total market capitalization of cryptocurrencies in general, amounting to over $360 billion in 2019, AMR notes that the health sector’s demand for transparency, improved security of supply chain transactions on blockchain has brought about this new chain of events.
Amongst the various companies involved with blockchain in the healthcare market, is a list of corporations that cuts across different sectors of the world’s global economy. It includes such key players as: IBM Corporation, Accenture, Microsoft, Capgemini, Deloitte Touche Tohmatsu Limited, Blockchain Tech Ltd, Digital Asset Holdings, Global Arena Holding, Inc., Ethereum, BitFuryUsa Inc., Chain, Inc., Coinbase Inc., Abra, Inc.