Future of the Global Blockchain In Genomics Market: Trends, Innovations, and Key Forecasts Through 2034

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What Will the Blockchain In Genomics Industry Market Size Be by 2025?
The market size of blockchain in genomics has witnessed a substantial growth lately. It is anticipated to surge from a market value of $0.84 billion in 2024 to approximately $1.01 billion in 2025, with a remarkable compound annual growth rate (CAGR) of 20.4%. Factors such as advancements in genomics, increasing trend of using digital tools, the digital transition in healthcare services witnessed by patients, growing curiosity in the possibilities of blockchain technologies, and a heightened understanding of the benefits of implementing blockchain in genomics have contributed to this historical growth.

What's the Long-Term Growth Forecast for the Blockchain In Genomics Market Size Through 2029?
Anticipations are high for a swift expansion in the blockchain in genomics market size in the coming years, with a forecasted valuation reaching $2 billion by 2029 and a compound annual growth rate (CAGR) of 18.7%. This anticipated growth during the forecast period is largely due to the escalating need for secure and efficient platforms for storing and accessing genomic data, an uptick in acceptance of blockchain-integrated solutions for the sharing of genomic data, and a rise in both investments for genomics R&D and healthcare-focused government funding. Key trends influencing the forecast period consist of progress in blockchain-facilitated technologies used for genomic data storage and access, technological progressions, groundbreaking development, augmented investment and funding, as well as the application of blockchain in bioinformatics.

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What Are the Key Growth Drivers Fueling the Blockchain In Genomics Market Expansion?
The surge in the use of digital tools is anticipated to drive the expansion of the blockchain in genomics market. The incorporation of these new digital systems is essential to improve work efficiency and obtain objectives. The global COVID-19 pandemic acted as a major force boosting this digital uptake as individuals and businesses, unable to avoid lockdown and social distancing, had to depend on digital platforms for various needs like communication, education, shopping, and entertainment. For the protection and confidentiality of genomic data, digital tools such as software, hardware, and online platforms are utilized in blockchain genomics for enhanced encryption and security. For example, a report by Eurostat, a government agency based in Luxembourg, released in May 2024 suggests that in the year 2023, 8.5% of people in the EU aged between 16 and 74 engaged in online consultations through the internet. Therefore, the growing popularity for digital health solutions is contributing to the expansion of the blockchain in genomics market.

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How Is the Blockchain In Genomics Market Segmented?
The blockchain in genomicsmarket 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 Companies Are Leading the Charge in Blockchain In Genomics Market Innovation?
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

Which Regions Are Leading the Global Blockchain In Genomics Market in Revenue?
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.

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