Blockchain in Healthcare Market Size Worth $1,78,910.32 Million by 2034 | CAGR: 71.1%

The blockchain in healthcare market size is expected to reach USD  178,910.32 million by 2034, according to a new study by Polaris Market Research. The report “Blockchain in Healthcare Market Size, Share, Trends, Industry Analysis Report: By Application, Network Type (Private, Public, and Others), End Use, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2024–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The blockchain in the healthcare market is witnessing robust growth, driven by a rising demand for secure, transparent, and efficient management of healthcare data. Blockchain technology has become essential for storing, sharing, and managing sensitive information; the market is expanding significantly. This growth is propelled by blockchain’s decentralized, immutable ledger capabilities, which are especially valuable in an industry where data integrity, security, and compliance are critical.

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Consequently, the market size and value are increasing as healthcare organizations seek solutions to mitigate data breaches and cybersecurity threats. Blockchain’s inherent security features, including encryption and decentralized data storage, help protect against unauthorized access and tampering, which is crucial to addressing these issues and further driving market demand.

The market expansion is also fueled by blockchain’s ability to improve data interoperability. Blockchain facilitates a unified and transparent system for seamless information sharing among healthcare providers, insurers, and patients, thereby contributing to market growth. Additionally, there is a growing demand for enhanced supply chain management within the healthcare industry. Blockchain ensures the traceability and authenticity of pharmaceuticals and medical supplies, which is vital for combating counterfeit drugs and meeting regulatory standards. This application is particularly relevant in regions with high instances of counterfeit pharmaceuticals, as blockchain tracks products from manufacturer to end-user, boosting market share by ensuring product legitimacy.

Further contributing to market growth is the increased adoption of blockchain in clinical trials and research activities, especially in emerging markets. Blockchain technology streamlines the management, verification, and sharing of results, accelerating drug development by enhancing the transparency and reliability of clinical trial data. The expansion of clinical trials supports market demand and value as more organizations turn to blockchain to improve data reliability in research.

Government initiatives and regulatory support are also crucial in driving market expansion. Many governments are exploring blockchain applications to improve healthcare infrastructure, leading to favorable policies and funding opportunities that enhance the market size and growth potential.

Top of FormBlockchain in Healthcare Market Report Highlights

• In 2024, the supply chain management segment accounted for the largest revenue share in the blockchain in healthcare market due to its critical role in ensuring transparency, traceability, and security in the movement of pharmaceuticals and medical supplies.
• By end use analysis, the biopharmaceutical & medical device companies segment is anticipated to register the fastest CAGR due to the increasing adoption of blockchain for enhancing data security.
• In 2024, North America accounted for the largest market share in the blockchain in healthcare market due to the high concentration of leading healthcare and technology companies driving innovation and adoption of blockchain solutions.
• Asia Pacific is expected to grow at the fastest CAGR from 2025 to 2034 due to the rapid expansion of healthcare infrastructure, and increasing digitalization of health services.
• The key market players include Blockpharma; BurstIQ; Change Healthcare (acquired by UnitedHealth Group's Optum); Guardtime; IBM; iSolve, LLC; Medicalchain SA; Oracle; PATIENTORY INC.; and Solve.Care.

Polaris Market Research has segmented the blockchain in healthcare market report based on application, network type, end use, and region:

By Application Outlook (Revenue – USD million, 2020–2034)

• Clinical Data Exchange & Interoperability
• Claims Adjudication & Billing
• Supply Chain Management
• Clinical Trials & eConsent

By Network Type Outlook (Revenue – USD million, 2020–2034)

• Private
• Public
• Others

By End Use Outlook (Revenue – USD million, 2020–2034)

• Healthcare Providers
• Healthcare Payers
• Biopharmaceutical & Medical Device Companies
• Others

      By Regional Outlook (Revenue – USD million, 2020–2034)

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa
  • Rest of the Middle East & Africa

Blockchain in Healthcare Report Scope