The blockchain in healthcare market size is expected to reach USD 178,910.32 million by 2034, exhibiting a CAGR of 71.1% from 2025 to 2034.
The blockchain in healthcare market is an emerging sector focusing on integrating blockchain technology into healthcare systems to enhance data security, interoperability, and transparency. Blockchain’s decentralized nature offers a robust framework for managing sensitive healthcare data, facilitating secure transactions, and ensuring efficient operations across the industry.
Market Growth Drivers
- Increasing Data Security Concerns
- The rise in cyberattacks on healthcare institutions has highlighted the need for secure systems, driving blockchain adoption.
- Need for Interoperable Healthcare Systems
- Blockchain’s ability to streamline data sharing across different platforms improves interoperability, a major challenge in healthcare.
- Growing Adoption of Telemedicine and IoT
- The proliferation of IoT devices and telemedicine platforms necessitates secure and reliable systems for managing patient data.
List of Key Companies in Blockchain in Healthcare Market
- Blockpharma
- BurstIQ
- Change Healthcare (acquired by UnitedHealth Group’s Optum)
- Guardtime
- IBM
- iSolve, LLC
- Medicalchain SA
- Oracle
- PATIENTORY INC.
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Key Trends in the Blockchain in Healthcare Market
- Adoption of Smart Contracts
- Smart contracts are being used to automate processes such as insurance claims and patient consent management, reducing administrative overhead.
- Blockchain and AI Integration
- Combining blockchain with AI offers enhanced data analytics while maintaining secure and transparent data storage.
- Growth of Decentralized Health Platforms
- Decentralized platforms powered by blockchain are promoting patient ownership of health data, enabling patient-centric care.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
The research study includes segmental analysis that divides the market into distinct groups or segments based on common characteristics. With market segmentation, businesses can identify specific customer groups that are more likely to be interested in specific products or services. Also, it enables these businesses to focus their marketing efforts and resources more efficiently, leading to higher conversion rates and improved return on investment. Furthermore, segmentation analysis helps companies develop personalized products or services, which can result in increased customer loyalty and improved customer satisfaction.
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
Blockchain in Healthcare Market Developments
In August 2023, Solve.Care, a global health tech leader with a blockchain-based healthcare platform, partnered with Binance Pay to enable cryptocurrency payments for healthcare services.
In August 2023, Solve.Care launched Care.Trials Network, an advanced platform leveraging blockchain and Zero-Knowledge technology to revolutionize the conduct of clinical trials. This network provides sophisticated, secure solutions designed to enhance the transparency, efficiency, and integrity of clinical trial processes.
In July 2023, Baptist Health, Kentucky’s largest health system, partnered with MediLedger to transform contract management in healthcare. Baptist Health aims to ensure precise pharmaceutical pricing across its nine hospitals.
The blockchain in healthcare market is poised for exponential growth, driven by the increasing need for secure, transparent, and efficient data management systems. Blockchain technology’s potential to address critical challenges like data breaches, fraud, and inefficiencies makes it a transformative force in healthcare. As more stakeholders recognize its value, investments in blockchain research and development are set to accelerate, ensuring widespread adoption across diverse healthcare applications.