The decentralized and encrypted nature of blockchain offers a high level of security and privacy, making it an attractive option in healthcare.
New York, USA, Dec. 13, 2024 (GLOBE NEWSWIRE) — Market Overview
The market for blockchain in healthcare is poised to grow, according to the latest research study by Polaris Market Research. The blockchain in healthcare market size was valued at USD 831.54 million in 2024 and is projected to grow to USD 178,910.32 million by 2034. It is anticipated to exhibit a CAGR of 71.1% from 2025 to 2034.
Market Introduction
Blockchain is a decentralized, distributed ledger that facilitates the process of tracking assets and recording transactions in a business network. It includes a chain of blocks that are linked together with cryptographic hashes. These blocks, which contain data about transactions, are connected in chronological order and can’t be altered without network arrangement. Blockchain technology finds applications in several sectors, including finance, manufacturing, and healthcare.
With blockchain, healthcare facilities can store data in encrypted blocks, making it tamper-proof. The technology facilitates secure data sharing to improve patient coordination. Besides, blockchain can help regulatory bodies automate reporting from healthcare institutions, reducing the burden on clinics and hospitals. With the surge in sensitive data and cyberattacks in healthcare, the blockchain in healthcare market demand is projected to grow.
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Market Report Scope and Attributes
| Report Attributes | Details |
| Market Size Value in 2024 | USD 831.54 million |
| Market Size Value in 2025 | USD 1,422.10 million |
| Revenue Forecast by 2034 | USD 178,910.32 million |
| CAGR | 71.1% from 2025 to 2034 |
| Base Year | 2024 |
| Historical Data | 2020–2023 |
| Forecast Period | 2025–2034 |
Market Key Players
The top market participants are making significant investments in R&D to improve their product offerings. Also, they are undertaking a variety of strategic initiatives to expand their global reach. A few of the key market players are:
- Blockpharma
- BurstIQ
- Change Healthcare (acquired by UnitedHealth Group’s Optum)
- Guardtime
- IBM
- iSolve, LLC
- Medicalchain SA
- Oracle
- PATIENTORY INC.
- Solve.Care
Growth Drivers and Opportunities
Rise of Personalized Medicine and Genomics: Personalized medicine and genomics require effective and secure management of sensitive patient information. Blockchain ensures secure storage and transmission of patient information, ensuring patient privacy while providing the required data for researchers. The advancement of personalized medicine and genomics drives the blockchain in healthcare market forward.
Advancements in Healthcare Diagnostics: Advancements in healthcare diagnostics have significantly enhanced the speed, precision, and accuracy of healthcare services. Manufacturers are increasingly incorporating blockchain in healthcare diagnostics to improve patient outcomes.
Favorable Regulatory Frameworks: Governments worldwide are increasingly promoting the adoption of blockchain through pilot initiatives, financial support, and favorable regulatory frameworks. These efforts are significantly boosting the blockchain in healthcare market expansion.
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Regional Analysis
North America: North America accounted for the largest market share in 2024. The region’s robust growth is primarily propelled by the presence of several leading healthcare institutions and biotechnology firms. Also, the implementation of favorable government initiatives and regulatory support play a crucial role in driving regional market growth.
Asia Pacific: The Asia Pacific blockchain in healthcare market is anticipated to witness the fastest CAGR from 2025 to 2034. Increasing investments in healthcare infrastructure and technology have resulted in the rapid digital transformation of the healthcare sector in the region. In addition, the rising number of clinical trials is driving the adoption of blockchain technology in the region.
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Blockchain in Healthcare Market Segmentation
By Application Outlook
- Clinical Data Exchange & Interoperability
- Claims Adjudication & Billing
- Supply Chain Management
- Clinical Trials & eConsent
By Network Type Outlook
- Private
- Public
- Others
By End Use Outlook
- Healthcare Providers
- Healthcare Payers
- Biopharmaceutical & Medical Device Companies
- Others
By Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Vietnam
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
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