Blockchain technology is being expected to hit around $1.6 billion come 2025, at least in the healthcare market it is. This news comes to us via Global Market Insights, a global market research and consulting firm.
That said, the prospect has already been performing quite well, considering that the market “held USD 2.8 million market size” last year. The post continues:
“Growing use of blockchain for healthcare market and implementation of several government initiatives will serve to be high impacting factors for blockchain technology market growth in the country. For instance, the UK government collaborated with the University of Surry for implementation of Archangel program. Archangel program is government initiative for implementation of blockchain in healthcare and other sectors.”
The post then goes, “such initiatives for implementation of blockchain technology in UK healthcare sector will positively impact the UK blockchain technology for healthcare industry growth in the forthcoming years.”
Related: Check out our guide on the best cryptocurrency exchanges for trading.
It also credits the Swiss market as the biggest growth, potentially hitting 73.3% as time goes on. This is thanks to big pharmaceutical companies looking to implement blockchain technology for supply chain and other use cases. This then increases the demand for other companies to do the same, and so on.
The study also goes deeper into precision medicine and why that will increase the value of medical-based blockchain technology, stating that it’s great “for reducing operational cost and maintaining data privacy will increase the adoption of blockchain technology in upcoming years.”
That’s right, Bitcoin trading is the only thing blockchain is useful for!