The global volume of blockchain has been a hot topic on many best cryptocurrency news sites, especially when it comes to new forecasts. A new report shows that the volume of blockchain in healthcare markets worldwide is forecast to exceed the $1.7 billion mark by 2026.
The press release comes from a consulting services to information technologies firm named Acumen Research and Consulting (ARC). As they predicted in the published release, global blockchain in healthcare market will reach over $1.7 billion by 2026 with a compound annual growth rate of 48.1%
Based on geography, the leading country with this blockchain initiative will be America, dominating with the largest share in the global blockchain in healthcare market. The United States is known as one of the most mature markets for the technology especially in industries such as manufacturing and healthcare.
Europe will follow, as the report shared in the altcoin news shows. As second, Europe will also benefit from the growth of blockchain in healthcare markets. ARC points out that there are likely going to be increasing expenditures on technology and the presence of multinational companies. “However, lack of security is the major factor restraining the growth of the blockchain in healthcare market in Europe,” the press release further notes.
ARC has also named Asia Pacific as the region with the fastest growth rate in terms of blockchain deployment in healthcare, mostly because of the fastest growing economy and associated opportunities. In the region, Japan is also seen as a country with a mature market, large population and highly skilled labor – all of which are efficient for implementing blockchain in healthcare.
“The Asia Pacific is expressing the fastest growth for the blockchain in healthcare market due to the presence of huge opportunities and the presence of fastest growing economy. Japan is an important blockchain in healthcare market, with a mature market, large population, completed infrastructural facilities and high-leveled skilled labor. During last few decades, Japan has emerged as a country for the origin of new and advanced technology. The Japanese government has supported a number of companies to introduce the new technology. Japan accounts for roughly 40% of the global market for sensors, which is a central component of IoT technology,” the report notes.
The latest cryptocurrency news show that the rate at which blockchain is adopted is more than just impressive.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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