Blockchain in Healthcare Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Public, Private), By Application (Supply Chain Management, Data Exchange and Interoperability, Claims Adjudication and Billing, Others), By End User (Pharmaceutical and Medical Device Companies, Healthcare Payers, Healthcare Providers), By Region and Competition, 2020-2030F

Market Overview

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.

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.

Adoption Of Blockchain in Healthcare System

The adoption of blockchain technology within the healthcare system has led to an increased demand for blockchain technology in the sector. This can potentially result in significant annual cost savings in areas such as IT, personnel, operations, and support function expenditures, as well as reductions in fraud and the sale of counterfeit goods. By integrating blockchain with supply chain management, complete protection against fraudulent pharmaceuticals can be achieved, making it the most sought-after blockchain technology in the healthcare industry. In addition, the ledger can be used to contain all the updated information along with an encrypted patient identity to secure patient data. Owing to the benefits offered by blockchain technology in healthcare, we expect the pharmaceutical companies to start adopting the platform for clinical trials, supporting the market growth over the forecast period. In July 2022, Japan based Aculys Pharma announced its plans to use a blockchain platform from SUSMED to conduct a clinical trial. 

The healthcare sector is currently facing a critical issue: pharmaceutical counterfeiting. The lack of transparency in pharmaceutical supply chains creates opportunities for fraud and manipulation. However, blockchain technology offers an ideal solution to combat pharmaceutical counterfeiting by ensuring system transparency and data integrity. It provides comprehensive end-to-end supply chain transparency.

Cost-Effectiveness of Blockchain Technology

Numerous startups have embraced blockchain technology as a solution to significant challenges in the healthcare industry, thereby elevating security protocols to new heights. This digital ledger technology offers exceptional safety, eliminates the need for third-party administrators, and ensures a high level of transparency. Specifically designed for the utmost security of medical data, public blockchain technology enhances the industry's value. Moreover, the cost-effectiveness of implementing public blockchain in healthcare plays a pivotal role in driving industry growth. Anticipated market demand is poised to benefit from robust security protocols, reliable portal services, and the anonymity it provides.

Development of Internet-of-Healthcare System using blockchain

The development of an Internet-of-Healthcare System using blockchain technology is anticipated to stimulate market growth. The Internet-of-Healthcare Systems represent a specialized implementation of Internet of Things technology, enabling the integration of patient medical data from multiple hospitals into a decentralized storage system based on blockchain. This ensures the highest level of storage and access security, addressing potential security and data administration concerns that may arise at the local hospital level. Currently implemented in over 350 hospitals, the Internet-of-Healthcare Systems utilize software agents accessed through the Message Queueing Telemetry Transport protocol, efficiently managing numerous local systems while maintaining network timeliness.

Moreover, the system is compatible with a wide range of health information systems used in participating hospitals. This positions the system as a viable option for a nationwide integrated health records system and exemplifies secure networks that can collectively be referred to as an Internet of Special Things. Mobile device apps provide secure and direct access to patient data stored in a central blockchain, with the ability to download data to mobile devices using Amazon Web Services and permissions regulated by the Key Management System. Based on the aforementioned points, the market is expected to experience growth in the forecast period.

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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.

High Cost of Blockchain Creation

The high cost of blockchain creation can significantly impact the adoption and implementation of blockchain technology in healthcare. While blockchain has the potential to bring numerous benefits to the healthcare industry, the expenses involved in building and maintaining blockchain networks can pose challenges. The high cost of developing and deploying a blockchain-based healthcare solution can be a significant barrier to entry for smaller healthcare organizations or startups. This can limit the diversity and pace of innovation in the industry. Healthcare institutions may need to invest in additional infrastructure to support blockchain networks, including specialized hardware, storage, and network resources. These costs can be substantial and may not be feasible for all healthcare providers. Blockchain networks can be resource-intensive, especially if they use consensus mechanisms like Proof-of-Work. This means higher energy consumption and computational requirements, which can lead to increased operational costs for participants in the network.

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.

Government Initiatives

The Centers for Medicare and Medicaid Services (CMS) has recently provided guidance on the utilization of blockchain technology within the healthcare sector. Additionally, the CMS Innovation Center has initiated a pilot program to investigate the application of blockchain technology in Medicare claims processing. In parallel, the Department of Health and Human Services Office of Inspector General has published a report on the potential uses of blockchain technology in detecting and preventing healthcare fraud and abuse. Moreover, the FDA has launched a pilot program to explore the implementation of blockchain technology for drug traceability. Lastly, the U.S. Department of Health and Human Services Office of Inspector General has issued guidance on the incorporation of blockchain technology in the design of cybersecurity programs for healthcare organizations. Governments and public health agencies in some countries have provided funding and grants to support research and pilot projects exploring the use of blockchain in healthcare. These initiatives help drive innovation and validate the technology's potential in the healthcare sector.

Segmental Insights

Application Insights

Based on application, the global blockchain in healthcare market is categorized into Supply Chain Management, Data Exchange and Interoperability, Claims Adjudication and Billing, and Others. The segment of clinical data exchange & interoperability is projected to hold the largest revenue share during the forecast period. Blockchain technology facilitates secure and rapid transmission of patient health information among multiple stakeholders and providers, thereby enhancing care coordination and quality. Data interoperability remains a significant challenge in the healthcare sector, but blockchain technology can address this by providing a secure and decentralized platform for data sharing. Furthermore, blockchain has the potential to enable the development of personalized healthcare solutions and empower individuals with greater control over their health data. These factors are expected to drive the adoption of blockchain in clinical data exchange & interoperability applications and contribute to the revenue growth of this segment.

On the other hand, the drug supply chain management segment is anticipated to exhibit a significantly rapid revenue CAGR during the forecast period. Managing the drug supply chain is a complex process involving various parties and compliance with legal regulations. Blockchain technology can enhance the traceability and transparency of medicine supply chain data, thereby reducing the risk of counterfeit or substandard medications being circulated. By securely and effectively tracing medications from the manufacturer to the end consumer, blockchain can enhance patient safety and ensure regulatory compliance. These factors are expected to drive the utilization of blockchain in applications for medication supply chain management and support the revenue growth of this segment.

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Regional Insights

Based on Region, The North American market accounted for the largest share of revenue in 2024, driven by a robust healthcare infrastructure and the presence of key industry players. The region's healthcare sector is heavily regulated, prompting increased adoption of blockchain technology to ensure data confidentiality and privacy. Furthermore, the market is expected to experience continued revenue growth due to the rising number of alliances and partnerships between healthcare institutions and blockchain technology suppliers. For instance, in January 2022, Avaneer Health, a key player in healthcare blockchain technology based in the U.S., offered significant support from major healthcare entities. These organizations have collectively guaranteed substantial seed funding of USD 50 million towards the Avaneer Health network.

In Europe, the market is projected to hold a significant revenue share during the forecast period. The region boasts an advanced healthcare sector with a strong focus on research and development. Healthcare organizations in Europe are increasingly leveraging blockchain technology to improve patient outcomes, safeguard data, and streamline processes. The growing number of startups and emerging players in the blockchain healthcare market further contributes to revenue growth in the region.

Recent Developments

• In January 2025, BrushO has entered into a partnership with Stanford Medicine to develop AI and blockchain technology powered oral care solutions.
• In January 2025, Nadcab Labs has started utilizing blockchain in healthcare to enhance patient data security, streamline medical records, and improve drug traceability.
• In December 2024, Blockchain For Impact (BFI) has announced the invitations of proposals to accelerate advanced healthcare solutions with SAMARTH.
• In May 2019, Batam (Indonesia) aimed to unite numerous partners to deliver a blockchain solution to its citizens. The primary collaboration involves BP Batam, through BP Batam Hospital, and the clinic, which has enlisted the support of Deloitte Southeast Asia and JP Consulting to provide project management and clinical governance expertise.
• In January 2019, Aetna, Anthem, Health Care Service Corporation (HCSC), PNC Bank, and IBM announced a collaborative effort to design and construct a blockchain-based network to enhance transparency and interoperability in the healthcare industry. The goal is to establish an inclusive blockchain network that can benefit multiple stakeholders in the healthcare ecosystem while maintaining high levels of security and sharing.
• On December 18, 2018, Change Healthcare acquired PokitDok, a blockchain technology firm, to enhance its blockchain capabilities and expedite the development of novel healthcare solutions.
• On May 15, 2018, Nebula Genomics formed a partnership with Longenesis to introduce a blockchain-based platform for secure sharing of genomic data. This platform aims to enhance data privacy and facilitate genomic research.
• In March 2018, IBM launched a cost-effective platform to assist startups in the development of blockchain projects. The primary objective was to make this technology accessible to developing countries.

Key Market Players

• IBM Corporation
• Patientory Inc.
• iSolve Technologies Private Limited
• Solve.Care Foundation OÜ
• 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).

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