Blockchain Technology in Healthcare Market Research Report By Application (Clinical Trials, Supply Chain Management, Patient Medical Records, Claims Management, Drug Traceability), By End Use (Healthcare Providers, Pharmaceutical Companies, Insurance Companies, Research Institutions), By Network Type (Public Blockchain, Private Blockchain, Hybrid Blockchain), By Component (Software, Hardware, Services) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2035

Blockchain Technology in Healthcare Market Overview

As per MRFR analysis, the Blockchain Technology in Healthcare Market Size was estimated at 1.79 (USD Billion) in 2023. The Blockchain Technology in Healthcare Market is expected to grow from 2.26 (USD Billion) in 2024 to 30 (USD Billion) by 2035. The Blockchain Technology in Healthcare Market CAGR (growth rate) is expected to be around 26.47% during the forecast period (2025 - 2035).

Key Blockchain Technology in Healthcare Market Trends Highlighted

The requirement for improved data security and privacy in patient records is one of the major market factors propelling the global blockchain technology in healthcare industry. Healthcare companies are concentrating more on implementing blockchain technologies to protect sensitive data as cyber risks continue to increase.

Additionally, because blockchain technology enables the smooth transfer of patient data between platforms while retaining privacy and integrity, providers are being prompted to investigate it in response to the need for interoperability among various healthcare systems.

The growing popularity of telemedicine and remote patient monitoring presents opportunities that should be investigated or seize. These trends can be efficiently supported by blockchain technology, which makes safe transactions and data sharing possible.

Additionally, regulatory organizations are starting to see blockchain's potential and are putting in place structures that promote its use, opening up new opportunities. The global landscape has been shifting more and more in recent years toward patient-centric care, and blockchain technology is making it easier to maintain patient-specific health records.

This encourages a more involved patient population by giving them more control over their health data. Initiatives in Europe and Asia demonstrate the strong interest in utilizing blockchain technology for drug traceability and the fight against fake medications, which not only improves supply chain management but also safety.

With pilot programs attempting to assess blockchain applications across diverse healthcare activities, the increasing cooperation between digital businesses and healthcare providers worldwide is spurring innovation. This partnership demonstrates a determined attempt to use blockchain technology to enhance healthcare outcomes and delivery globally.

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Blockchain Technology in Healthcare Market Drivers

Increased Demand for Secure Patient Data Management

The growing need for secure patient data management is a prominent driver for the Blockchain Technology in Healthcare Market. As highlighted by a 2021 report from the World Health Organization, data breaches in healthcare are becoming increasingly common, with nearly 20% of healthcare organizations reporting incidents that compromise patient data.

This scenario has led healthcare systems to seek decentralized and secure solutions for patient data management, reducing the risk of data theft. Established organizations such as IBM and Microsoft are investing in blockchain technologies to develop solutions that enhance data security while ensuring regulatory compliance.

Their initiatives underscore the increasing dependence on advanced technologies for safeguarding sensitive health information globally. Consequently, as security concerns escalate, the adoption of blockchain technology in healthcare is expected to rise significantly, driving market growth.

Growing Focus on Interoperability in Healthcare Systems

The emphasis on interoperability and seamless communication between various healthcare systems is driving the demand for blockchain technology.

According to a report by the Office of the National Coordinator for Health Information Technology, nearly 30% of healthcare organizations face challenges in data sharing due to interoperability issues. This has triggered interest in blockchain solutions that enable reliable data exchange across disparate systems.

Key players like MedRec and Change Healthcare are actively developing blockchain platforms to enhance data sharing capabilities among different healthcare entities. As the demand for a more integrated healthcare system emerges, the Blockchain Technology in Healthcare Market is expected to benefit through increased implementation of interoperability solutions based on blockchain.

Rising Healthcare Costs and Need for Cost-Effective Solutions

The rising costs of healthcare are prompting organizations to seek cost-effective solutions, making blockchain technology an attractive option. The Health Care Cost Institute reported an average increase of 4.6% in healthcare spending over the past year, emphasizing the need for more efficient expenditure management.

Blockchain can streamline processes such as billing and supply chain management, reducing administrative expenses significantly. Organizations like Walmart and Pfizer are already utilizing blockchain to enhance supply chain transparency, leading to lower operational costs and better resource management.

The ongoing search for cost-efficient healthcare solutions will continue to fuel the Blockchain Technology in Healthcare Market as stakeholders look for innovative ways to manage expenses.

Blockchain Technology in Healthcare Market Segment Insights

Blockchain Technology in Healthcare Market Application Insights

The Blockchain Technology in Healthcare Market, particularly within the application segment, was poised for substantial growth. The Application segment was critical due to its role in revolutionizing how healthcare data was managed, thereby enhancing efficiency and accuracy across various operations.

Within this segment, the Clinical Trials application accounted for a valuation of 0.5 USD Billion in 2024, expected to rise to 6.5 USD Billion by 2035, showcasing significant interest in improving the clinical trial process, from recruitment to compliance tracking, ensuring data integrity and transparency.

Supply Chain Management represented another vital application, valued at 0.75 USD Billion in 2024 and projected to reach 10.2 USD Billion in 2035. This growth reflected an increasing need for tracking pharmaceuticals from manufacturers to patients, thereby combating counterfeit drugs and ensuring patient safety.

The Patient Medical Records application held a valuation of 0.6 USD Billion in 2024, with forecasts suggesting it will rise to 8.0 USD Billion by 2035, emphasizing the importance of secure, immutable patient records to enhance data sharing among healthcare providers while maintaining privacy and security.

Claims Management, valued at 0.41 USD Billion in 2024, is expected to reach 3.7 USD Billion by 2035, pointing to its significant role in streamlining billing processes and reducing fraud in healthcare insurance claims.

Drug Traceability is anticipated to grow from negligible value in 2024 to 1.6 USD Billion in 2035, which aligns with increasing regulations and demands for complete transparency in the drug distribution process.

The market dynamics reflected a trend towards enhanced operational efficiency and security across healthcare functions, driven by growing instances of data breaches and inefficiencies in traditional processes.

Blockchain applications in healthcare not only promised improvements in operational efficiency but also enhanced patient trust and safety, thus offering opportunities for existing and emerging players in this rapidly evolving market landscape.

The Blockchain Technology in Healthcare Market segmentation reiterates the significance of these applications, showcasing a transformative potential that aligns with the increasing global focus on digital innovation in healthcare.

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Blockchain Technology in Healthcare Market End Use Insights

The Blockchain Technology in Healthcare Market is showing significant growth, especially within the End Use segment, which consists of Healthcare Providers, Pharmaceutical Companies, Insurance Companies, and Research Institutions.

Healthcare Providers leverage blockchain to streamline operations and maintain accurate patient records, while Pharmaceutical Companies use the technology to tackle challenges related to drug traceability and counterfeit medications.

Insurance Companies are increasingly adopting blockchain solutions to simplify claims processing and reduce fraud, leading to operational efficiencies. Research Institutions utilize blockchain for secure data sharing and collaboration on innovative treatments, thereby enhancing the overall research landscape.

Given these insights and the diverse applications across various sectors, the Blockchain Technology in Healthcare Market is well-positioned to expand and address the unique challenges faced within the healthcare industry, supported by robust market growth strategies and technological advancements.

Blockchain Technology in Healthcare Market Network Type Insights

The Blockchain Technology in Healthcare Market is experiencing robust growth, driven by the increasing demand for secure and transparent data management solutions. The market segmentation by Network Type includes Public Blockchain, Private Blockchain, and Hybrid Blockchain, each playing a crucial role in enhancing efficiency and security.

Public Blockchain offers transparency and increased accessibility, while Private Blockchain ensures protected data sharing among authorized parties, maintaining privacy and compliance with regulatory standards.

Hybrid Blockchain, combining elements of both, allows for flexibility and optimized performance across various healthcare applications. This segmentation is vital as it addresses specific needs within the healthcare industry, facilitating better patient outcomes through improved data integrity and interoperability.

The Blockchain Technology in Healthcare Market is witnessing advancements due to factors such as technological innovations, increased funding for healthcare IT projects, and the pressing need for combating data breaches, which creates new opportunities for growth within these network types.

Blockchain Technology in Healthcare Market Component Insights

The Blockchain Technology in Healthcare Market is experiencing a significant transformation, especially within the Component segment, which comprises Software, Hardware, and Services.

The demand for Software solutions has surged, providing platforms that enhance data security, streamline supply chains, and facilitate secure patient information sharing. Hardware also plays a vital role, ensuring that infrastructure supports these advanced technologies efficiently.

Services, including consulting and integration, are essential for healthcare organizations to implement blockchain solutions effectively, thus driving overall market growth. The Blockchain Technology in Healthcare Market revenue is bolstered by the rising focus on improving operational efficiency and transparency in healthcare systems globally.

Furthermore, ongoing advancements in technology and the need for robust security measures against data breaches constitute key growth drivers. As the market evolves, the interplay of these components remains crucial, with Software and Services currently dominating trends and shaping the landscape of healthcare delivery.

Blockchain Technology in Healthcare Market Regional Insights

The Blockchain Technology in Healthcare Market was on a path of significant growth across various regions. In this landscape, North America dominated with a valuation of 1.01 USD Billion in 2024 and is expected to rise to 15.0 USD Billion by 2035, largely due to high technological adoption rates and investments in digital health initiatives.

Europe followed, with a market value of 0.6 USD Billion in 2024 expanding to 8.5 USD Billion by 2035, driven by regulatory support for digital transformation in healthcare. The APAC region is set to grow from 0.45 USD Billion in 2024 to 4.8 USD Billion in 2035, reflecting increased healthcare expenditure and a burgeoning start-up ecosystem focused on blockchain solutions.

In South America, the market valuation was 0.1 USD Billion in 2024 and projected to reach 1.2 USD Billion by 2035, presenting opportunities fueled by rising internet penetration and mobile health app usage. Finally, the MEA region displayed a similar trend with a valuation of 0.1 USD Billion in 2024, growing to 0.5 USD Billion by 2035, as countries in the region prioritize digital innovations in healthcare.

This diverse regional segmentation highlighted varying degrees of market potential and growth drivers, contributing to the overall expansion of the Blockchain Technology in Healthcare Market.

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Blockchain Technology in Healthcare Market Key Players and Competitive Insights

The competitive landscape of the Blockchain Technology in Healthcare Market is rapidly evolving, driven by the increasing need for enhanced data security, interoperability, and efficiency in healthcare systems.

As healthcare organizations adopt blockchain for managing patient data, supply chain transparency, and clinical trials, various companies are striving to innovate and differentiate their offerings. The market features a mix of established tech giants and emerging startups, each bringing unique solutions to address complex healthcare challenges.

Companies are also focusing on collaborations and partnerships to enhance their capabilities and expand their market reach, indicating a thriving ecosystem committed to harnessing blockchain technology's potential in healthcare.

In this competitive arena, IBM stands out due to its robust market presence and a well-established reputation in IT solutions, particularly in blockchain technology. IBM's strengths lie in its comprehensive suite of blockchain solutions tailored for healthcare applications that tackle data integrity and transparency challenges.

The company has made significant strides in utilizing blockchain for secure sharing of health records and pharmaceutical supply chain management. With a focus on interoperability, IBM collaborates with various stakeholders in the healthcare sector, including providers, payers, and technology partners.

Its extensive research and development efforts, along with strategic partnerships for ecosystem building, contribute to its competitive edge, positioning IBM as a leader in the Blockchain Technology in Healthcare Market.

Modum also plays a notable role in the Blockchain Technology in Healthcare Market, particularly with its focus on supply chain management and compliance solutions. Modum's key offerings include temperature-controlled shipping and monitoring solutions, which are vital for pharmaceuticals and biopharmaceuticals, ensuring product integrity and regulatory compliance.

The company's unique services integrate IoT technology with blockchain to provide real-time data and transparency, appealing to logistics providers and healthcare organizations needing assurance in their supply chains. Modum's strengths include its innovative approach and ability to scale its solutions, addressing the growing demands of the global market.

The company has engaged in strategic partnerships and collaborations that amplify its technological advancements and market footprint. Overall, Modum's commitment to improving healthcare supply chains through blockchain positions it as an emerging contender in the competitive landscape, equipped to address challenges faced by the sector globally.

Key Companies in the Blockchain Technology in Healthcare Market Include

• IBM


• Modum


• Everledger


• Patientory


• Medicalchain


• Guardtime


• Care


• Pioneers


• Chronicled


• Microsoft


• Factom


• BurstIQ


• SimplyVital Health


• Gem

Blockchain Technology in Healthcare Market Developments

Recent developments in the Blockchain Technology in Healthcare Market highlight significant advancements and ongoing trends. In August 2023, IBM announced a partnership with various healthcare organizations to enhance data security through blockchain, focusing on patient consent management systems.

Meanwhile, Modum has been gaining traction for its temperature-controlled supply chain solutions leveraging blockchain, aimed at ensuring drug integrity. Everledger has continued to expand its blockchain platform for tracking diamonds and other precious assets, catering to the luxury health market's needs.

In January 2023, Patientory secured funding to scale its healthcare data management solutions that utilize blockchain for secure patient records. Guardtime announced its collaboration with the Estonian government for national health data security, showing government interest in blockchain applications.

Chronicled and Microsoft have been working together on a blockchain-based logistics solution to ensure the integrity of pharmaceutical supply chains as of February 2023.

The overall growth in market valuation is stimulated by increased investment and adoption of blockchain technology for enhancing data security, interoperability, and patient-centric solutions across the healthcare ecosystem. Trends observed in the last few years indicate a steady rise in the integration of blockchain in healthcare, with an emphasis on patient safety and data integrity.

Blockchain Technology in Healthcare Market Segmentation Insights

Blockchain Technology in Healthcare Market Application Outlook

• Clinical Trials


• Supply Chain Management


• Patient Medical Records


• Claims Management


• Drug Traceability

Blockchain Technology in Healthcare Market End Use Outlook

• Healthcare Providers


• Pharmaceutical Companies


• Insurance Companies


• Research Institutions

Blockchain Technology in Healthcare Market Network Type Outlook

• Public Blockchain


• Private Blockchain


• Hybrid Blockchain

Blockchain Technology in Healthcare Market Component Outlook

• Software


• Hardware


• Services

Blockchain Technology in Healthcare Market Regional Outlook

• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa

Report Attribute/Metric	Details
Market Size 2023	1.79(USD Billion)
Market Size 2024	2.26(USD Billion)
Market Size 2035	30.0(USD Billion)
Compound Annual Growth Rate (CAGR)	26.47% (2025 - 2035)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Base Year	2024
Market Forecast Period	2025 - 2035
Historical Data	2019 - 2024
Market Forecast Units	USD Billion
Key Companies Profiled	IBM, Modum, Everledger, Patientory, Medicalchain, Guardtime, Solve.Care, Pioneers, Chronicled, Microsoft, Factom, BurstIQ, SimplyVital Health, Gem
Segments Covered	Application, End Use, Network Type, Component, Regional
Key Market Opportunities	Improved patient data security, Streamlined supply chain management, Enhanced interoperability among systems, Increased data transparency and traceability, Cost reduction in healthcare operations
Key Market Dynamics	Interoperability challenges, Data security concerns, Regulatory compliance pressures, Increasing data management needs, Growing adoption of telehealth solutions
Countries Covered	North America, Europe, APAC, South America, MEA