Blockchain Technology in Healthcare Market Research Report – Global Forecast till 2030

Blockchain Technology in Healthcare Market Research Report Information Information By Application (Supply Chain Management, Patient Data Management, Drug Traceability, Clinical Trials & Data Security, Claims Adjudication, Billing, Others), By Type (Public, Private), By End User (Pharmaceutical Companies, Healthcare Service Providers, Healthcare Consumers, Others) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) - Forecast Till 2030

ID: MRFR/HCIT/5013-HCR | 85 Pages | Author: Rahul Gotadki | June 2023         

Global Blockchain Technology in Healthcare Market Overview


Blockchain Technology in Healthcare Market Size was valued at USD 1.12 billion in 2021 and is projected to grow from USD 1.88 Billion in 2022 to USD 121 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 68.30% during the forecast period (2022 - 2030). Increasing cases of healthcare data breaches and rising demand for easy to use & inexpensive data management tools are driving the market growth.
Blockchain Technology in Healthcare Market Overview
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Blockchain Technology in Healthcare Market Trends



  • Increasing cases of healthcare data breaches to boost market growth


A blockchain serves as an electronic database for storing data in digital form. In the healthcare system, a blockchain network is used for storing and sharing patient data among hospitals, diagnostic labs, drug companies, and doctors. However, the incidence of data breaches has increased significantly in the healthcare industry. In the past five years, healthcare data breaches have grown in size and frequency, with the most significant breaches impacting as many as 80 million people. Healthcare data breaches often expose highly sensitive information, from personally identifiable information such as social security numbers, names, and addresses to sensitive health data such as Medicaid ID numbers, health insurance information, and patient's medical histories. Therefore, the rise in the incidence of data breaches has augmented the demand for blockchain technology in healthcare across the globe in recent years.


Blockchain Technology in Healthcare Market Segment Insights


Blockchain Technology in Healthcare Application Insights


The blockchain technology in healthcare market segmentation, based on application, includes supply chain management, patient data management, drug traceability, clinical trials & data security, claims adjudication, billing, and others.


The supply chain management held the majority share in 2021 contribution to around ~65-67% with respect to the blockchain technology in healthcare market revenue. This is owing to the adoption of supply chain management by many pharmacies in their system, clinical data exchange and interoperability, drug supply chain management, prescription drug abuse, drug discovery, and clinical trials. The technology also helps pharmaceutical companies to facilitate interoperability with the Internet of Things (IoT) devices. It also helps them recruit candidates for clinical trials and regulate the drug supply chain. Blockchain can transform the healthcare sector by lowering operational costs, data corruption, and healthcare process optimization. For instance, according to the article published in oecd.org in December 2020, a new blockchain application has emerged called Research Foundry to facilitate the management of permissions and consent for the sharing of and access to health data, software code, metadata, and other products connected with healthcare R&D.


January 2021: UnitedHealth Group's Optum acquired Change Healthcare to simplify core administrative, clinical, and payment processes


October 2021: MDS Mexico launched a blockchain technology-based COVID-19 testing service to ensure the authenticity of vaccination certificates. The COVID-19 pandemic boosted the adoption and demand for blockchain solutions in healthcare


Blockchain Technology in Healthcare Type Insights


The blockchain technology in healthcare market segmentation, based on type, includes public, and private. The public segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. This is due to the rising application of public networks for the management of various particulars. Public blockchains, such as Ethereum, Bitcoin, and Monero, have gained attention because they are truly decentralized and democratized and offer authority-free operation. Hence, rising applications of the public segment drive the growth of blockchain security in healthcare market.


Blockchain Technology in Healthcare End User Insights


The blockchain technology in healthcare market data has been bifurcated by end user into pharmaceutical companies, healthcare service providers, healthcare consumers, and others. The pharmaceutical companies segment dominated the market in 2021 and is projected to be the largest growing segment during the forecast period, 2022-2030. This is attributable to the huge R&D budgets, the need to secure data exchange and interoperability, and a large amount of data management done by these companies in areas such as drug discovery and development. Additionally, the rising adoption of technology for essential functions such as verifying the authenticity of the returned drug, compliance with the pharmaceutical supply chain, and improving reliability and quality of clinical trial data is also estimated to contribute to the large share of the segment.


April 2018: UnitedHealth Group announced a collaboration with MultiPlan, Quest Diagnostics, and Humana to leverage the potential of blockchain to exchange financial and other healthcare information securely


December 2018: Change Healthcare acquired PokitDok to extend the capabilities and technology of its Intelligent Healthcare Network by leveraging PokitDok's DokChain technology as well as blockchain use cases


Figure 2:  Blockchain Technology in Healthcare Market, by End User, 2021 & 2030 (USD Billion)
Blockchain Technology in Healthcare Market, by End User, 2021 & 2030
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Blockchain Technology in Healthcare Regional Insights


By Region, the study segments the market into North America, Europe, Asia-Pacific and Rest of the World. North America Blockchain Technology in Healthcare market share during the study period. This is attributed to the growing technological advancements in blockchain technology, integration of advanced technology & software processes, presence of key players, and robust infrastructure in the region.


Further, the major countries studied are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 3:  BLOCKCHAIN TECHNOLOGY IN HEALTHCARE MARKET SHARE BY REGION 2021 (%)
BLOCKCHAIN TECHNOLOGY IN HEALTHCARE MARKET SHARE BY REGION 2021
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe blockchain technology in healthcare market accounts for the second-largest market share due to the due to various initiatives taken by regional governments to avoid a data breach. For instance, in 2018, the EU government implemented the General Data Protection Regulation (GDPR). Implementation of GDPR coupled with the enormous growth of blockchain technology is expected to provide businesses with more opportunities in the region. Further, the Germany blockchain technology in healthcare market held the largest market share, and the UK blockchain technology in healthcare market was the fastest growing market in the European region.


The Asia-Pacific blockchain technology in the healthcare market is expected to grow with a significant share. This is due to the large population, which results in the creation of huge volumes of patient records, which need to be protected at all costs. Moreover, China blockchain technology in the healthcare market held the largest market share, and India blockchain technology in the healthcare market was the fastest-growing market in the Asia-Pacific region.


Blockchain Technology in Healthcare Market Players & Competitive Insights


Major market players are spending a lot of money on R&D to increase their product lines, which will help blockchain technology in the healthcare market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in blockchain technology in the healthcare industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.


One of the primary business strategies adopted by manufacturers in the  blockchain technology in the healthcare industry to benefit clients and expand the blockchain technology in the healthcare market sector is to manufacture locally to reduce operating costs. In recent years, blockchain technology in healthcare has provided medicine with some of the most significant benefits.


IBM (US) is a technology solution that has enabled trustworthy information, accelerated discovery, resiliency, and adaptation. In April 2020, IBM launched IBM Rapid Supplier Connect, a blockchain-based network to help government agencies and healthcare organizations to identify new, non-traditional suppliers who have pivoted to address the shortage of equipment, devices, and supplies needed for COVID-19 relief efforts. Also, in China, hospitals implemented blockchain to ensure timely delivery and accurate tracking of medications to COVID-19 patients’ homes.


Also, UnitedHealth Group (US) is a blockchain company to improve the accuracy of provider directories. In April 2018, UnitedHealth Group announced its collaboration with MultiPlan, Quest Diagnostics, and Humana to leverage the potential of blockchain to exchange financial and other healthcare information securely. As a result, it has also anticipated a positive impact on market growth over the forecast period.


Key Companies in the blockchain technology in healthcare market includes



  • IBM (US)

  • PATIENTORY INC. (US)

  • Guardtime (US)

  • Microsoft Corporation (US)

  • Care (Ukraine)

  • Oracle (US)

  • Change Healthcare (US)

  • BurstIQ (US)

  • Medicalchain SA (UK)

  • Blockpharma (France)


Blockchain Technology In Healthcare Industry Developments


May 2020: Microsoft and Viant along with GSK formed a consortium named Viant Blockchain Programme aimed to accelerate the adoption of a blockchain-based supply chain in various verticals including the healthcare industry.


November 2018: Hashed Health partnered with Healthcare Exchange, a healthcare business and data automation company to use blockchain technologies to solve the issues related to product tracking, auditing, data management, and order processing across the healthcare supply chain.


January 2018: Chronicled partnered with Qtum Foundation. Through this partnership, Chronicled and Qtum Foundation is integrating smart devices with a secure distributed ledger back end by combining the IoT with blockchain technology.


Blockchain Technology in Healthcare Market Segmentation


Blockchain Technology in Healthcare Application Outlook



  • Supply Chain Management

  • Patient Data Management

  • Drug Traceability

  • Clinical Trials & Data Security

  • Claims Adjudication

  • Billing

  • Others


Blockchain Technology in Healthcare Type Outlook



  • Public

  • Private


Blockchain Technology in Healthcare End User Outlook



  • Pharmaceutical Companies

  • Healthcare Service Providers

  • Healthcare Consumers

  • Others


Blockchain Technology in Healthcare Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America





Report Scope:

Report Attribute/Metric Details
Market Size 2021 USD 1.12 billion
Market Size 2022 USD 1.88 billion
Market Size 2030 USD 121.00 billion
Compound Annual Growth Rate (CAGR) 68.30% (2022-2030)
Base Year 2021
Forecast Period 2022-2030
Historical Data 2018 & 2020
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Application, Type, End User, and Region
Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled IBM (US), Patientory Inc. (US), Guardtime (US), Microsoft Corporation (US), Solve.Care (Ukraine), Oracle (US), Change Healthcare (US), BurstIQ (US), Medicalchain SA (UK), Blockpharma (France)
Key Market Opportunities Increasing awareness about blockchain technology
Key Market Dynamics Increasing cases of healthcare data breaches Rising demand of easy to use and inexpensive data management tools


Frequently Asked Questions (FAQ) :

The blockchain technology in healthcare market is anticipated to reach USD 121 billion at a CAGR of 68.30% during the forecast period of 2022 to 2030

IBM,Microsoft ,Simplyvital Health,Hashed Health,Guardtime,Gem,Patientory,Blockpharma,Pokitdok ,Medicalchain,Chronicled,I solve,Factom,Farmatrust Are the key players in Blockchain Technology in Healthcare Market

The U.S blockchain technology in healthcare market share is 35-40% during the forecast period of 2022 to 2030

The blockchain technology in healthcare market is expected to register a CAGR of 68.30% during the forecast period of 2022 to 2030.

The North America held the largest market share in the blockchain technology in healthcare market

IBM (US), Patientory Inc. (US), Guardtime (US), Microsoft Corporation (US), and Oracle (US)

The supply chain management segment led the blockchain technology in healthcare market

The public segment held the blockchain technology in healthcare market

Key Questions Answered

  • ✅ Global Market Outlook
  • ✅ In-depth analysis of global and regional trends
  • ✅ Analyze and identify the major players in the market, their market share, key developments, etc.
  • ✅ To understand the capability of the major players based on products offered, financials, and strategies.
  • ✅ Identify disrupting products, companies, and trends.
  • ✅ To identify opportunities in the market.
  • ✅ Analyze the key challenges in the market.
  • ✅ Analyze the regional penetration of players, products, and services in the market.
  • ✅ Comparison of major players’ financial performance.
  • ✅ Evaluate strategies adopted by major players.
  • ✅ Recommendations
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