Blockchain Technology in Healthcare Market Size & Share, by Type (Public, Private); Application (Claims Adjudication & Billing, Clinical Data Exchange & Interoperability, Clinical Trials & E-Consenting, Supply Chain Management); End-user (Hospital, Insurance Providers, Drug & Medical Device Manufacturers) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5291
  • Published Date: Oct 05, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024 - 2036

Blockchain Technology In Healthcare Market size is estimated to cross USD 215 Billion by the end of 2036, growing at a CAGR of 35% during the forecast period, i.e., 2024 – 2036. In the year 2023, the industry size of blockchain technology in healthcare was around USD 2.37 Billion. The industry is expected to benefit from growing investments in efficient medical examination systems, wearable device cryptography, and healthcare record systems. The number of linked wearable devices worldwide increased significantly between 2019 and 2022. This number increased from 929 million the previous year to almost 1.1 billion in 2022.

The prevalence of diseases is expected to rise, creating a huge volume of data and increasing the need for data management. The global data volume is currently created by the healthcare sector at about 30%. The compound annual growth rate of healthcare data will be 36% by 2025. This is 6% quicker than the industrial sector, 10% quicker than the financial sector, and 11% quicker than the media & entertainment sector.

Blockchain Technology In Healthcare Market
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Blockchain Technology In Healthcare Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Incidence of Healthcare Data Breaches- The frequency of data breaches in the healthcare sector has considerably increased over time. Healthcare data breaches have increased in scale and regularity over the previous five years, with the most serious ones affecting as many as 80 million people. Highly sensitive information, including personally identifiable information (PII) like social security numbers, names, and addresses as well as sensitive health data like ID numbers, etc., are frequently exposed in healthcare data breaches. Hospitals account for 30% of all significant data breaches across the globe, according to data breaches in the healthcare sector. Since 2019, 51% of healthcare organizations have reported a rise in data breaches.  337 breaches occurred in the first half of 2022, affecting 19,992,810 people.
  • Increasing Need for Enhanced Data Protection- Blockchain is decentralized and immutable in nature which makes it highly resistant to data tampering and unauthorized access. It enables secure sharing and storage of healthcare data, protecting patient privacy and preventing data breaches. For instance, nearly 23% of data breaches are the result of human mistakes.
  • Surge in The Expenditure of Digital Transformation- Due to the digital transformation, technology is a crucial part of company strategy. Using this approach lowers operating expenses and inefficiencies. The application of blockchain technology in healthcare is anticipated to be fuelled by the growing interest in transforming non-digital business operations into completely digital systems by transferring data to cloud-based databases and working with various technological devices. For instance, it is predicted that by 2022, almost USD 1.15 trillion will be spent on global digital transformation, and that figure will reach roughly USD 3 trillion by 2025.


  • Lack of awareness and understanding- Lack of awareness of distributed ledger technology and its use in the healthcare sector is the main obstacle to the development of blockchain technology. End customers in the healthcare sector are unaware of the advantages and functionality of this revolutionary technology. This might discourage businesses from making investments in this developing technology.
  • Due to a lack of legislation governing the interchange of medical data, the majority of healthcare providers and payers, particularly in developing countries, are hesitant to reveal data.
  • The commercialization of the healthcare industry may be significantly delayed as a result of the economic crisis that followed the COVID-19 outbreak.

Blockchain Technology In Healthcare Market: Key Insights

Base Year


Forecast Year



~ 35%

Base Year Market Size (2023)

 ~ USD 2.37 Billion

Forecast Year Market Size (2036)

 ~ USD 215 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Blockchain Technology In Healthcare Segmentation

Type (Public, Private)

The public segment is expected to account for 60% share of the global blockchain technology in healthcare market. A public network called Ethereum is currently one of the most popular technologies in the medical field. These public networks are expanding mostly due to their low cost and availability of a larger database. Global spending on blockchain-related products is anticipated to reach USD 6.6 billion in 2021. According to projections, spending on blockchain solutions will increase over the next few years, close to 19 billion dollars by 2024.

Application (Claims Adjudication & Billing, Clinical Data Exchange & Interoperability, Clinical Trials & e-Consenting, Supply Chain Management)

The blockchain technology in healthcare market is dominated by supply chain management with about 42% share. The growth of the supply chain management market is driven by factors such as an increased number of counterfeit drugs in circulation, compliance with strict rules like drug quality standards and security legislation. It is estimated by the World Health Organization, that as many as 1 % of medicines available in developed countries are unlikely to be genuine. In the world this figure is set at 10 %, although some developing countries reach 50 %.

Our in-depth analysis of the global market includes the following segments:


  • Public
  • Private


  • Claims Adjudication & Billing
  • Clinical Data Exchange & Interoperability
  • Clinical trials & e-Consenting
  • Supply Chain Management


  • Hospital
  • Insurance Providers
  • Drug & Medical Device Manufacturers

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Blockchain Technology In Healthcare Industry - Regional Synopsis

European Market Forecast

Europe blockchain technology in healthcare market is expected to account for around 32% share during the forecast period. Due to several government measures targeted at preventing data breaches, healthcare providers accounted for 53% of all occurrences in the European health sector, which saw a considerable number of incidents. Hospitals in particular took the brunt of it, accounting for 42% of recorded incidents. It is anticipated that the introduction of GDPR will increase business opportunities in the region, especially in light of the tremendous expansion of blockchain technology.

North America Market Statistics

North America blockchain technology in healthcare market is anticipated to have the second-largest revenue share of about 26% during the forecast period. The main force behind regional expansion is the rise in demand for secure medical record storage. Healthcare organizations reported 145 data breaches in the first three months of 2023, according to the OCR (Office for Civil Rights) of the US government. It comes after the 707 cases in which 51.9 million documents were stolen last year. It is not surprising that the healthcare industry is a frequent target.

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Blockchain Technology In Healthcare Market size
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Companies Dominating the Blockchain Technology In Healthcare Landscape

    • IBM Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Microsoft Corporation
    • Guardtime Federal
    • PokitDok
    • Avaneer Health, Inc,
    • Hashed Health
    • Nokia
    • iSolve, LLC
    • Oracle
    • Batam

In the News

  • Avaneer Health has received additional support from several prestigious healthcare institutions, providing the health network with USD 50 million in startup money. Based on blockchain technology, the network focuses on payer-to-payer data sharing, eligibility, and prior authorization while utilizing HL7's FHIR specification to increase data access among healthcare companies
  • Nokia stated that Equideum Health had chosen it to assist in developing and delivering healthcare use cases. Equideum Health will employ Nokia's Data Marketplace (NDM) solution, which is available through its Software-as-a-Service (SaaS) architecture. Equideum Health, a leader in the healthcare and life sciences blockchain, will be able to launch new use cases.

Author Credits:  Abhishek Verma, Hetal Singh

  • Report ID: 5291
  • Published Date: Oct 05, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing incidences of healthcare data breach, growing threat of counterfeit drugs, are the major factors driving the market’s growth.

The market size of blockchain technology in healthcare is anticipated to attain a CAGR of 35% over the forecast period, i.e., 2024 - 2036.

The major players in the market are Microsoft Corporation, Guardtime Federal, PokitDok, Avaneer Health, Inc, Hashed Health, Nokia, iSolve, LLC, Oracle, Blockpharma, and others.

The public segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the Europe region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Blockchain Technology In Healthcare Market Report Scope

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