Press release
Non Fungible Tokens in Healthcare Market Overview and Regional Growth Insights Focused on Blockchain Enabled Health Data Management and Genomics
Non-fungible Tokens (NFT) in Healthcare Market
According to the latest research by InsightAce Analytic, the Non-fungible Tokens (NFT) in Healthcare Market is valued at USD 177.3 Mn in 2024, and it is expected to reach USD 934.1 Mn by the year 2034, with a CAGR of 18.2% during the forecast period of 2025-2034.
Global Non-fungible Tokens (NFT) in Healthcare Market 2025-2034 full Research Repot latest version is now available.
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NFT is an exclusive digital asset that uses blockchain technology to represent collectables, music, art, video snippets, medical data, and other entities. In contrast to cryptocurrencies, NFTs cannot be divided into smaller denominations since they are non-divisible. NFTs are also unchangeable, giving consumers strong security and privacy characteristics (as no third party may access the data). Because of these features, NFTs are being investigated more and more in the healthcare sector for the storage of private medical data, mainly in the realms of genomics research, clinical trial consent, supply chain traceability, blood donation, and health records management. The continuous development of WEB 3.0 technologies and the incorporation of AI in healthcare (electronic medical records) are two noteworthy variables that present a promising chance for a broader use of Non-fungible Tokens (NFT) in the Healthcare industry. Additionally, by providing a fun and gratifying method of tracking and improving health in exchange for financial rewards, NFTs can increase patient participation. As a result, this is expected to accelerate the growth of non-fungible tokens (NFT) in the healthcare market.
List of Prominent Players in the Non-fungible Tokens (NFT) in Healthcare Market:
• Universal Health Token
• Aimedis
• Epillo Health
• GenoBank.io
• Genomes.io
• IVIRSE
• Molecule
• Rejuve.AI
• BurstIQ
• ChainCode Consulting
• DeHealth
• TuumIO
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Market Dynamics:
Drivers-
The NFT in Healthcare is growing due to a number of variables. With a large part of the world's population now holding cryptocurrency, the growing number of cryptocurrency owners is one of the primary drivers propelling non-fungible tokens (NFT) in healthcare. The increased awareness enables individuals to learn about blockchain concepts like digital ownership, decentralization, and tokenization, which can open the door for non-fungible tokens to be widely used in a variety of sectors, including healthcare. NFTs also provide end users with financial incentives, which enable them to exchange health information. Additionally, by providing a fun and gratifying method of tracking and improving health in exchange for financial rewards, NFTs can increase patient participation. This will help the Non-fungible Tokens (NFT) in the Healthcare market grow in the future.
Challenges:
The growth of the Non-Fungible Tokens (NFTs) market is significantly impacted by fraud since they undermine user and possible investor trust. The well-known issues of rug pulls, fake NFTs, and phishing efforts foster an atmosphere of uncertainty that keeps new players out of the market. Additionally, the absence of regulatory frameworks may hinder the development and approval of new products as well as their introduction to the market, which could impact the growth of the Non-fungible Tokens (NFT) in the Healthcare market.
Regional Trends:
The North American Non-fungible Tokens (NFT) in the Healthcare market are anticipated to register a major market revenue share driven by the growing interest of interested parties in handling the growing amount of healthcare data. The region's strong healthcare infrastructure and the existence of numerous well-known blockchain and IT enterprises are further elements that contribute to its dominance in the Non-fungible Tokens (NFT) in the Healthcare market. Besides, over the projection period, Asia Pacific is expected to increase at the fastest rate, mostly due to the low cost of labour and affordable operating expenses in this region. Furthermore, it is projected that the increasing adoption of cryptocurrencies in Asia Pacific countries will spur regional Non-fungible Tokens (NFT) in Healthcare market growth.
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Recent Development:
In Nov 2024: The Universal Health Token (UHT), supported by Animoca Brands, marked the successful selling of its inaugural NFT collection, intended to serve as a benefits pass for forthcoming project initiatives, collaborations, and product launches. The collection, entitled 'PILLARS OF HEALTH,' consisted of 1,500 complimentary mint NFTs, all of which were claimed through a first-come-first-served mechanism, with 918 NFTs allocated via assured locations.
Segmentation of Non-fungible Tokens (NFT) in Healthcare Market-
By Blockchain Used
• Ethereum
• Polygon
• HyperLedger
• Others
By Application Area
• Health Records Management
• Supply Chain Management
• Health and Wellness
• Genomics Research
• Clinical Trial Consent
• Others
By End-user
• Pharmaceutical Companies
• Healthcare Professionals
• Patients
• Insurance Companies
• Academic Institutions / Government Bodies
• Others
By Region-
North America-
• The US
• Canada
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Mexico
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
Read Overview Report- https://www.insightaceanalytic.com/report/non-fungible-tokens-nft-in-healthcare-market/3020
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Contact us:
InsightAce Analytic Pvt. Ltd.
Visit: www.insightaceanalytic.com
Tel : +1 551 226 6109
Asia: +91 79 72967118
info@insightaceanalytic.com
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