Blockchain For Medical Records Market Size Forecasted To Achieve $1.98 Billion By 2029 With Steady Growth

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What Is the Blockchain For Medical Records Market Size and Projected Growth Rate?
In recent times, the market size of the blockchain for medical records has experienced robust growth. It's projected to expand from $0.91 billion in 2024 to reach $1.06 billion in 2025, representing a compound annual growth rate (CAGR) of 17.2%. Various factors have contributed to the growth seen in the historical period, including concerns over data security, an increase in electronic health records, regulatory compliance obligations, a rise in healthcare data breaches, and the essential need for interoperability.

In the coming years, the market size for blockchain in medical records is anticipated to experience a swift expansion. The market is projected to surge to $1.98 billion in 2029 with an annualised rate of growth of 16.8%. Factors contributing to this growth during the forecast period include increasing use of blockchain in the healthcare sector, a surge in demand for safe patient data exchange, heightened government initiatives, the enlargement of telemedicine uptake, and the cost-efficiency advantages provided by blockchain. Key trends for this period encompass progress in blockchain protocols, incorporation with artificial intelligence, research and development, innovations in decentralized healthcare systems, and the evolution of blockchain-based interoperability solutions.

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What Are the Major Segments in the Blockchain For Medical Records Market?
The blockchain for medical records market covered in this report is segmented -

1) By Type: Public Blockchain, Private Blockchain, Consortium Blockchain, Hybrid Blockchain
2) By Technology: Distributed Ledger Technology, Smart Contracts
3) By Application: Patient Data Management, Interoperability, Billing And Claims Management, Clinical Trials And Research
4) By End User: Healthcare Providers, Pharmaceutical Companies, Insurance Companies, Research Institutions

Subsegments:
1) By Public Blockchain: Permissionless Blockchain, Token-Based Blockchain, Decentralized Data Storage
2) By Private Blockchain: Enterprise Blockchain Solutions, Healthcare Provider Networks, Patient Data Management
3) By Consortium Blockchain: Multi-Organization Data Sharing, Interoperability Networks, Research And Clinical Trials
4) By Hybrid Blockchain: Identity Verification And Access Control, Compliance And Regulatory Solutions, Smart Contract-Based Data Exchange

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What Are The Driving Blockchain For Medical Records Market Evolution?
The growth of the blockchain for medical records market is anticipated to be accelerated by the rising requirement for secure and transparent data management. This involves safeguarding data from potential risks while ensuring its clarity and availability to authorized individuals. The escalation in data breaches has prompted an increased demand for such data management, emphasizing the need for systems that guarantee data integrity, consumer trust, and regulatory compliance. The necessity of blockchain in secure and transparent medical record management is due to its provision of a non-alterable, decentralized ledger, ensuring patient data is unchangeable and only accessible to those with authority, offering complete traceability. For example, data breaches escalated by 78% in 2023 compared to 2022, as reported in January 2024 by the US-based Identity Theft Resource Center, a non-profit organization. They reported 3,205 incidents impacting 353 million individuals. As such, the surging demand for secure and transparent data management is fueling the expansion of the blockchain for medical records market.

Which Firms Dominate The Blockchain For Medical Records Market Segments?
Major companies operating in the blockchain for medical records market are International Business Machines Corporation, iSolve LLC, Guardtime AS, PokitDok Inc., Avaneer Health Inc., MediBloc Inc., Patientory Inc., BurstIQ Inc., Solve.Care Foundation, Triall Foundation, FarmaTrust Ltd., Iryo.io Ltd., Medicalchain Ltd., UnitedHealth Group Incorporated, Blockpharma SAS, Medifakt Pte. Ltd., Clinicoin LLC, Briya, Gem Corporation, Embleema

What Trends Are Expected to Dominate the Blockchain For Medical Records Market in the Next 5 Years?
Key players in the blockchain for medical records market are prioritizing technological advancements, like on-chain medical authentication, in order to offer health service providers a safe, transparent, and impervious system. As a method for securely validating and logging medical practices, patient information, and health-related transactions on a blockchain, on-chain medical authentication promises transparency, data security, and protection against fraud. For example, in March 2025, Circular Protocol, a US firm that creates a multi-chain Layer 1 blockchain, collaborated with Arculus by CompoSecure (CMPO), a US digital security firm, and IT Lab, a UK IT support and strategic services provider, to roll out a Smart Share white-label platform. This platform is a blockchain-fueled authentication and validation system for medical records. One distinctive aspect of this system is the inclusion of Arculus Authentication in the MedTech device of Circular. This gadget provides healthcare institutions with physical cards that hold private keys. Authorized medical personnel can utilize these cards to securely and conveniently sign procedures and transactions on the Circular blockchain via a simple touch-to-computer interface.

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Which Is The Largest Region In The Blockchain For Medical Records Market?
North America was the largest region in the blockchain for medical records market in 2024. The regions covered in the blockchain for medical records market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Blockchain For Medical Records Market?
2. What is the CAGR expected in the Blockchain For Medical Records Market?
3. What Are the Key Innovations Transforming the Blockchain For Medical Records Industry?
4. Which Region Is Leading the Blockchain For Medical Records Market?

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