Blockchain in Healthcare will Reach $ 1.7 Billion by 2026

Analysts from consulting company Acumen Research and Consulting (ARC) have concluded that the blockchain volume in the healthcare market will exceed $ 1.7 billion by 2026.

It is reported that the average annual growth in the use of blockchain systems in the healthcare industry will be about 48.1%. At the same time, North America will take a leading position in the use of the blockchain in healthcare, as the US market is already established and constantly applies the latest technologies in drug development and patient care.

Europe will take second place after the United States thanks to strong government support and high healthcare costs. The use of blockchain in Europe will grow due to increased spending on new technologies and the presence of transnational corporations. However, “the lack of a secure infrastructure will be the limiting factor for the growth of the blockchain in the healthcare market.”

Asia will become the leader in terms of growth in the use of blockchain, due to the rapid growth of the economy. At the same time, Japan in the region is allocated separately, since it has a large population, a formed health care system, and highly qualified personnel.

In April, it was reported that HMS Technologies (HMS), the largest provider of medical information technology for the US government, plans to use the blockchain. In addition, it is expected that by 2025 the volume of supply chains on the blockchain will reach $ 9 billion.