Blockchain in Healthcare Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type, By Application, By End User, By Region and Competition, 2020-2030F
Global Blockchain in Healthcare Market was valued at USD 1.10 Billion in 2024 and is expected to reach USD 2.34 Billion by 2030 with a CAGR of 13.41% during the forecast period. A blockchain is defined as an expanding collection of records, referred to as blocks, which are cryptographically interconnected. Each block contains a cryptographic hash of the preceding block, along with a timestamp and transaction records. The timestamp ensures that the transaction data was present at the time of block publication, enabling it to be hashed. By virtue of each block containing information about its predecessor, they form a chain, with each new block reinforcing the preceding ones. Consequently, blockchains are resistant to data tampering, as altering the data in any one block retroactively would impact all subsequent blocks. Private and public blockchains represent the primary types, although variations such as Consortium and Hybrid blockchains exist.
Market Overview
Forecast Period
2026-2030
Market Size 2024
USD 1.10 Billion
Market Size 2030
USD 2.34 Billion
CAGR 2025-2030
13.41%
Fastest Growing Segment
Public
Largest Market
North America
Blockchain technology is a novel tool that is revolutionizing various sectors, including healthcare. Within the healthcare system, Blockchain networks are employed to securely store and exchange patient data between hospitals, diagnostic laboratories, pharmacies, and physicians. In the medical field, blockchain applications have the potential to precisely identify critical and potentially harmful errors. As a result, it can significantly enhance the performance, security, and transparency of medical data sharing within the healthcare system. By leveraging this technology, medical institutions can gain valuable insights and improve the analysis of medical records. Further, approximately 80% of the medical studies fail to produce the desired results due to errors such as fraud, data falsification and trial misconduct. It is important to mention that more than 690 healthcare data breaches were reported between July 2021 and June 2022. As a result, the adoption of blockchain technology (also referred to as distributed ledger technology (DLT)), has emerged to be a promising approach.
Key Market Drivers
Rising Incidence of Healthcare Data Breaches
The healthcare industry has witnessed a significant increase in the number of data breaches in recent years. The advent of digital technologies has presented an opportunity to eliminate the reliance on third-party custodians, all while ensuring security and transparency. The utilization of blockchain technology to address specific challenges, such as the efficient exchange of data among healthcare providers, directly impacts accurate diagnosis, appropriate treatment, and the overall ability of healthcare providers to deliver cost-effective care. The increasing requirements for medical data storage and security present numerous benefits for medical staff, patients, and healthcare facilities. Utilizing blockchain technology, with its cross-checking, encryption, and decentralization capabilities, enhances the security of medical data, thus driving market growth. Governments of various nations are prioritizing the digitization of the healthcare system and related sectors, recognizing its potential to enhance patient participation, improve health outcomes, and enable better forecasts, among other advantages.
Key Market Challenges
Lack of Operation Knowledge
In terms of managing records, there is significant variation among healthcare physician providers and insurance payers. Encouraging all these organizations to adopt blockchain technology without a streamlined approach, such as a single payer system, poses considerable challenges. However, the effectiveness of the entire system is compromised if any organization is unwilling to embrace it. Convincing them to transition from paper records to electronic healthcare records (EHR) using blockchain is indeed a formidable task. Healthcare is a heavily regulated industry, with laws like HIPAA (Health Insurance Portability and Accountability Act) in the United States and similar regulations in other countries. Lack of knowledge about how blockchain can align with these regulations can lead to compliance issues and legal challenges.
Key Market Trends
Rising Requirement to Store and Safeguard Medical Data
The requirements for medical data storage and security have witnessed a significant increase, offering numerous benefits to medical staff, patients, and healthcare facilities. The utilization of blockchain technology, with its cross-checking, encryption, and decentralization capabilities, plays a pivotal role in ensuring the security of medical data, thereby fostering market growth. Governments of various nations are prioritizing the digitization of the healthcare system and related business sectors, recognizing its potential to enhance patient participation, improve health outcomes, and enable better forecasting, among other advantages.
Key Market Players
IBM Corporation
Patientory Inc.
iSolve Technologies Private Limited
Solve.Care Foundation OU
Oracle Corporation
Change Healthcare
BurstIQ, LLC
Medicalchain SA
Guardtime
Blockpharma
Report Scope:
In this report, the Global Blockchain in Healthcare Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Blockchain in Healthcare Market, By Type:
Public
Private
Blockchain in Healthcare Market, By Application:
Supply Chain Management
Data Exchange and Interoperability
Claims Adjudication and Billing
Others
Blockchain in Healthcare Market, By End User:
Pharmaceutical and Medical Device Companies
Healthcare Payers
Healthcare Providers
Blockchain in Healthcare Market, By Region:
North America
United States
Canada
Mexico
Europe
France
United Kingdom
Italy
Germany
Spain
Asia-Pacific
China
India
Japan
Australia
South Korea
South America
Brazil
Argentina
Colombia
Middle East & Africa
South Africa
Saudi Arabia
UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Blockchain in Healthcare Market.
Available Customizations:
Global Blockchain in Healthcare market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
Detailed analysis and profiling of additional market players (up to five).
Table of Contents
1. Service Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, and Trends
4. Voice of Customer
5. Global Blockchain in Healthcare Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Type (Public, Private)
5.2.2. By Application (Supply Chain Management, Data Exchange and Interoperability, Claims Adjudication and Billing, Others)
5.2.3. By End User (Pharmaceutical and Medical Device Companies, Healthcare Payers, Healthcare Providers)
5.2.4. By Region
5.2.5. By Company (2024)
5.3. Market Map
6. North America Blockchain in Healthcare Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type
6.2.2. By Application
6.2.3. By End User
6.2.4. By Country
6.3. North America: Country Analysis
6.3.1. United States Blockchain in Healthcare Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Type
6.3.1.2.2. By Application
6.3.1.2.3. By End User
6.3.2. Canada Blockchain in Healthcare Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Type
6.3.2.2.2. By Application
6.3.2.2.3. By End User
6.3.3. Mexico Blockchain in Healthcare Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Type
6.3.3.2.2. By Application
6.3.3.2.3. By End User
7. Europe Blockchain in Healthcare Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By Application
7.2.3. By End User
7.2.4. By Country
7.3. Europe: Country Analysis
7.3.1. Germany Blockchain in Healthcare Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Type
7.3.1.2.2. By Application
7.3.1.2.3. By End User
7.3.2. United Kingdom Blockchain in Healthcare Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Type
7.3.2.2.2. By Application
7.3.2.2.3. By End User
7.3.3. Italy Blockchain in Healthcare Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Type
7.3.3.2.2. By Application
7.3.3.2.3. By End User
7.3.4. France Blockchain in Healthcare Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Value
7.3.4.2. Market Share & Forecast
7.3.4.2.1. By Type
7.3.4.2.2. By Application
7.3.4.2.3. By End User
7.3.5. Spain Blockchain in Healthcare Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Value
7.3.5.2. Market Share & Forecast
7.3.5.2.1. By Type
7.3.5.2.2. By Application
7.3.5.2.3. By End User
8. Asia-Pacific Blockchain in Healthcare Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By Application
8.2.3. By End User
8.2.4. By Country
8.3. Asia-Pacific: Country Analysis
8.3.1. China Blockchain in Healthcare Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Type
8.3.1.2.2. By Application
8.3.1.2.3. By End User
8.3.2. India Blockchain in Healthcare Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Type
8.3.2.2.2. By Application
8.3.2.2.3. By End User
8.3.3. Japan Blockchain in Healthcare Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Type
8.3.3.2.2. By Application
8.3.3.2.3. By End User
8.3.4. South Korea Blockchain in Healthcare Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Type
8.3.4.2.2. By Application
8.3.4.2.3. By End User
8.3.5. Australia Blockchain in Healthcare Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Type
8.3.5.2.2. By Application
8.3.5.2.3. By End User
9. South America Blockchain in Healthcare Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Type
9.2.2. By Application
9.2.3. By End User
9.2.4. By Country
9.3. South America: Country Analysis
9.3.1. Brazil Blockchain in Healthcare Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Type
9.3.1.2.2. By Application
9.3.1.2.3. By End User
9.3.2. Argentina Blockchain in Healthcare Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Type
9.3.2.2.2. By Application
9.3.2.2.3. By End User
9.3.3. Colombia Blockchain in Healthcare Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Type
9.3.3.2.2. By Application
9.3.3.2.3. By End User
10. Middle East and Africa Blockchain in Healthcare Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Type
10.2.2. By Application
10.2.3. By End User
10.2.4. By Country
10.3. MEA: Country Analysis
10.3.1. South Africa Blockchain in Healthcare Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Value
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Type
10.3.1.2.2. By Application
10.3.1.2.3. By End User
10.3.2. Saudi Arabia Blockchain in Healthcare Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1. By Value
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Type
10.3.2.2.2. By Application
10.3.2.2.3. By End User
10.3.3. UAE Blockchain in Healthcare Market Outlook
10.3.3.1. Market Size & Forecast
10.3.3.1.1. By Value
10.3.3.2. Market Share & Forecast
10.3.3.2.1. By Type
10.3.3.2.2. By Application
10.3.3.2.3. By End User
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments
13. Global Blockchain in Healthcare Market: SWOT Analysis