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Blockchain in Healthcare Market Analysis by Persistence Market Research Reveals Key Insights

09-01-2025 06:53 AM CET | Health & Medicine

Press release from: Persistence Market Research

Blockchain in Healthcare Market

Blockchain in Healthcare Market

The healthcare industry is on the brink of a digital transformation, with blockchain technology emerging as a key catalyst. Traditionally plagued by fragmented data systems, lack of interoperability, and escalating concerns over data privacy and fraud, the healthcare ecosystem is ripe for disruption. Blockchain technology, with its decentralized, immutable, and transparent nature, is being rapidly adopted across the sector to address these challenges. According to Persistence Market Research, the blockchain in healthcare market is projected to reach US$17.6 billion by 2031, growing at an astonishing CAGR of 48.6% from 2024 to 2031.

As per the latest market analysis, the healthcare blockchain ecosystem is witnessing exponential growth. Starting from a modest US$1.1 billion in 2024, the sector is rapidly scaling across various segments such as electronic health records (EHRs), clinical trials, pharmaceutical supply chain management, and insurance claims. Europe currently dominates the market, accounting for nearly 34% of the global share, due to robust healthcare regulations, high digital literacy, and a strong push towards data privacy and security. The public blockchain network type holds the leading segment, capturing 45% of the market share, while supply chain management (SCM) stands out as the top application area, commanding 31% of total demand.

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Key Highlights from the Report

• Market to reach US$17.6 billion by 2031 at a CAGR of 48.6%.
• Europe accounts for 34% of the global market share in 2023.
• Public blockchain networks dominate with 45% market share.
• Supply Chain Management leads with 31% of application-based demand.
• Increasing need for secure, transparent patient data exchange is a core growth driver.
• Smart contracts and decentralized identities offer untapped potential.

Market Segmentation

The blockchain in healthcare market is segmented by network type, application, and end-user. Among network types, public blockchain networks are preferred due to their transparency, decentralization, and high data integrity. These systems allow all stakeholders-hospitals, insurers, patients, and regulators-to access validated and tamper-proof data, enabling more reliable decision-making and enhancing trust. In contrast, private blockchains are typically used for internal operations and restricted data sharing, where faster transaction speeds and limited access are required.

By application, the market is divided into Supply Chain Management (SCM), Clinical Trials, Claims & Billing, Electronic Health Records (EHRs), and Clinical Data Exchange. Among these, SCM leads with 31% share, driven by the need to combat pharmaceutical counterfeiting and optimize logistics. Blockchain offers traceability from manufacturer to patient, ensuring drug authenticity, reducing fraud, and enhancing regulatory compliance. Other applications like clinical trials and EHRs are expected to grow significantly as smart contracts and decentralized identity frameworks become more mainstream.

Read Detailed Analysis: https://www.persistencemarketresearch.com/market-research/blockchain-in-healthcare-market.asp

Regional Insights
Europe: Market Leader in Blockchain Healthcare Integration

Europe commands the largest share of the blockchain in healthcare market, with countries like Germany, the UK, and France leading blockchain adoption. The region's commitment to data privacy under GDPR, coupled with government and corporate investments, is accelerating the deployment of blockchain systems across public and private healthcare infrastructures. European companies like Epillo Health Systems are at the forefront, developing integrated blockchain solutions for secure data management and digital therapeutics.

Asia Pacific: Rising Star with Growing Blockchain Penetration

Asia Pacific is emerging as one of the most attractive regions for blockchain in healthcare, fueled by increased healthcare spending, government initiatives, and data protection regulations. Countries such as Singapore, South Korea, and Australia are laying down blockchain-friendly policies, spurring innovation in EHR sharing, cross-border care, and pharmaceutical traceability. The region also sees strong potential in decentralized clinical trials and insurance tech, particularly in developing economies with burgeoning healthcare needs.

Market Drivers
1. Escalating Demand for Data Security and Privacy

The rising incidence of cyberattacks and data breaches has heightened the demand for secure data systems in healthcare. Blockchain technology provides an immutable and decentralized ledger, reducing vulnerabilities common in centralized databases. Hospitals and healthcare providers are adopting blockchain to protect patient data, comply with stringent data privacy laws, and restore public trust.

2. Interoperability and Seamless Data Exchange

Lack of interoperability has long hindered healthcare operations, resulting in fragmented data and inefficient workflows. Blockchain enables seamless and secure data sharing across systems, reducing delays, improving diagnosis, and supporting patient-centric care. By facilitating real-time, verifiable access to medical records, blockchain allows for improved coordination between stakeholders.

3. Curbing Healthcare Fraud

Healthcare fraud, including billing , identity theft, and counterfeit drugs, costs the global economy billions annually. Blockchain offers transparent, time-stamped records that are auditable and tamper-proof. This capability is particularly useful in claims processing and pharmaceutical SCM, where traceability and authentication are crucial.

Market Restraints
1. Complex Regulatory Compliance

Navigating global healthcare regulations such as HIPAA, GDPR, and other regional standards is a major challenge. Blockchain's decentralized nature can conflict with existing legal frameworks that require data control, deletion, and ownership, making compliance difficult.

2. Lack of Standardization and Interoperability Frameworks

Despite blockchain's promise, a lack of industry-wide standards and protocols creates implementation barriers. Without uniform guidelines, different blockchain systems may fail to communicate effectively, limiting scalability and adoption across healthcare networks.

3. High Implementation Costs and Infrastructure Needs

Blockchain integration requires significant investment in infrastructure, training, and compliance audits. Smaller healthcare providers may find these costs prohibitive, especially in developing regions. Additionally, the return on investment may not be immediately apparent, slowing adoption rates.

Market Opportunities
1. Advanced Data Privacy Solutions and Decentralized Identity

Blockchain providers have the opportunity to develop identity management systems that give patients control over their health data. These systems allow selective sharing, secure access, and simplified authentication, addressing rising concerns over privacy and identity theft.

2. Blockchain-Based Smart Contracts

Smart contracts can automate and optimize healthcare operations such as insurance claims, billing, and even patient consent for clinical trials. These self-executing contracts reduce human error and administrative costs, opening new avenues for healthcare efficiency.

3. Pharmaceutical Supply Chain Traceability

Counterfeit drugs remain a serious threat to public health. Blockchain's real-time tracking capability can help pharmaceutical companies and regulators trace drug origin, transit, and handling conditions. This not only ensures patient safety but also strengthens compliance.

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Reasons to Buy the Report

• Gain deep insights into market dynamics, growth drivers, and regulatory challenges.
• Understand regional performance and strategic opportunities across key geographies.
• Get access to detailed segmentation based on network type, application, and end-user.
• Analyze competitive landscape with profiles of top players and recent innovations.
• Leverage forecast data up to 2031 to guide investment and strategic planning.

Frequently Asked Questions (FAQs)

• How big is the blockchain in healthcare market in 2024 and what is the forecast for 2031?
• Who are the key players in the global blockchain in healthcare market?
• What is the projected CAGR for the blockchain in healthcare market?
• What is the market forecast for blockchain in healthcare for 2032?
• Which region is expected to dominate the blockchain in healthcare industry?

Company Insights

• IBM
• PATIENTORY INC.
• Guardtime
• iSolve, LLC
• Solve.Care
• Oracle
• Change Healthcare (UnitedHealth Group's Optum)
• BurstIQ
• Medicalchain SA

Recent Developments:

• In October 2023, Solve.Care announced a partnership with Binance to facilitate cryptocurrency payments in the healthcare sector, increasing blockchain's utility.
• In August 2023, Solve.Care launched Care Trials using blockchain and zero-knowledge (ZK) technology to revolutionize clinical research.

Final Thoughts

The blockchain in healthcare market is rapidly transforming the way patient data is managed, treatments are administered, and services are delivered. With rising demand for data security, transparent operations, and interoperable systems, blockchain offers solutions that address some of the most pressing challenges in the healthcare industry. Backed by a robust growth forecast and strong interest from both governments and private players, the market is poised for significant expansion. As highlighted in Persistence Market Research's in-depth analysis, Europe is leading the charge, but Asia Pacific is not far behind, setting the stage for a globally integrated blockchain-powered healthcare ecosystem.

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Contact Us:

Persistence Market Research
G04 Golden Mile House, Clayponds Lane
Brentford, London, TW8 0GU UK
USA Phone: +1 646-878-6329
UK Phone: +44 203-837-5656
Email: sales@persistencemarketresearch.com
Web: https://www.persistencemarketresearch.com

About Persistence Market Research:

At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.

Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.

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