A report by MarketsandMarkets said the market would grow by 8.4 percent a year over the next five years, driven by increased pressure on healthcare providers to improve operational efficiency and profitability.
It pointed to the emergence of cloud-based systems, the implementation of a unique device identification initiative by the U.S. Food and Drugs Administration and the global adoption of the GS1 system of standards in the healthcare industry as key factors that would drive growth.
It added that growing efforts to reduce the large-scale counterfeiting of drugs would also lead to big changes in healthcare supply chains.
Tapan Mehta, market development executive at mobile technology firm DMI, said counterfeit prevention could potentially see a widespread rollout of blockchain through the industry.
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