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Impact Of Rising Digital Tool Adoption On Blockchain In Genomics Market Driver: Leading Transformation in the Blockchain In Genomics Market in 2025
Impact Of Rising Digital Tool
The blockchain in genomics market has experienced exceptional growth in recent years. It is projected to expand from $0.84 billion in 2024 to $1.01 billion in 2025, achieving a CAGR of 20.8%. The market's past growth drivers include advances in genomics, growing adoption of digital healthcare tools, the digital transformation of patient services, rising interest in blockchain technology, and increased awareness of blockchain's potential in genomics applications.
The blockchain in genomics market is projected to grow to $2.01 billion by 2029, with a CAGR of 18.7%. Growth is attributed to the increasing need for secure genomic data storage, data sharing solutions, and rising investments in genomics research. Trends include blockchain-based technologies for genomic data retrieval, advancements in bioinformatics, and increased funding for genomic research.
What Is Driving the Growth Trajectory of the Blockchain In Genomics Market?
The increasing adoption of digital tools is expected to accelerate the growth of the blockchain in genomics market. Digital adoption refers to integrating new digital tools to improve workflows and achieve business objectives. The COVID-19 pandemic significantly pushed digital adoption across various sectors, prompting individuals and businesses to depend on digital tools for various activities. In genomics, blockchain technology helps secure genomic data through enhanced encryption, ensuring confidentiality and protection. For example, a report by Eurostat in May 2024 showed that in 2023, 8.5% of individuals in the EU aged 16-74 participated in online consultations using the internet. Therefore, the rising demand for digital health solutions is driving the growth of blockchain in the genomics market.
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Which Leading Companies Are Shaping the Growth of the Blockchain In Genomics Market?
Major companies operating in the blockchain in genomics market report are International Business Machines Corporation, Sharecare Inc., WuXi Nextcode Genomics Inc., Health Utility Network Inc., Chronicled Inc., Medicalchain Ltd., Akiri Inc., Futura Genetics LLC, Nebula Genomics Inc., Medicalchain SA, Digital DNAtix Ltd., EncrypGen Inc., Longenesis, Guardtime AS, ProCredEx LLC, Embleema Inc., Patientory Inc., Shivom Ventures Limited, BurstIQ LLC, Genobank.io Inc., LunaDNA LLC, SimplyVital Health Inc., Zenome.io Ltd., Coral Health Research & Discovery Inc., FarmaTrust Holdings Limited
What Are the Key Segments of the Blockchain In Genomics Market?
The blockchain in genomics market covered in this report is segmented -
1) By Service: Utility Tokens, Blockchain Platforms
2) By Business Model: Business-To-Business (B2B) Business Model, Business To Consumer (B2C) Business Model, Consumer-to-Business (C2B) Business Model
3) By Application: Automated Health Insurance, Pharmaceutical And Biotechnology Companies, Hospitals And Healthcare Providers, Research Institutes, Data Owners, Other End Users
Subsegments:
1) By Utility Tokens: Access Tokens, Functional Tokens
2) By Blockchain Platforms: Public Blockchain Platforms, Private Blockchain Platforms, Consortium Blockchain Platforms
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Which Region Dominates the Blockchain In Genomics Market?
North America was the largest region in the blockchain in genomics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the blockchain in genomics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Blockchain In Genomics Global Market Report?
- Market Size Analysis: Analyze the Blockchain In Genomics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Blockchain In Genomics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Blockchain In Genomics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Blockchain In Genomics Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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