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Follow on Google News | Demand for Blockchain Technology in Healthcare Predicted to be Highest in EuropeOver $800.0 Million Revenue Growth Expected Global Blockchain Technology in Healthcare Market by 2023.
By: P&S Intelligence The other important factors responsible for the surging implementation of blockchain in healthcare settings are the mushrooming investments and funding as well as the increasing implementation of this technology in the pharmaceutical supply chain. Powered by these factors, the global Blockchain in healthcare market is expected to advance at a CAGR of more than 67.1% during the forecast period (2018–2023) Globally, the highest demand for the technology in the healthcare industry was observed in North America in 2017. However, the healthcare sector of Europe is predicted to observe the highest demand for the technology in the coming years. This is primarily attributed to the surging implementation of numerous blockchain initiatives by the major private and public healthcare companies in the region. For instance, the European Platform on Changing Healthcare (EPOCH), which is the first group in the European pharmaceutical industry to adopt blockchain, is evaluating its limitations and advantages in the pharmaceutical supply chain. Hence, due to the mushrooming need for data security across the globe, especially because of the rising data theft incidents, the demand for blockchain implementation in the healthcare industry is expected to record massive growth in the coming years. End
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