Blockchain Technology in Healthcare Market to Be USD 796.0 Mn by 2032

The global blockchain technology in healthcare market size is expected to stand at USD 194.5 million in 2025. It is anticipated to touch a valuation of USD 796.0 million by 2032. It is estimated to display a CAGR of 22.3% during the forecast period (2025-2032).  

The increasing demand for secure and transparent interoperable systems for data management in the healthcare sector is expected to drive overall market demand. This is facilitated by the rising cases of ransomware attacks and cybersecurity threats.

But, the hesitation among healthcare providers in exchanging medical data can restrain the blockchain technology in healthcare market.

The market demand is expected to be driven by the demand for blockchain to prevent the sale of counterfeit medications in pharmacy centers and the immutability of electronic health records on blockchain ledgers.

The use of smart contracts to ensure authentic transactions between authorized individuals can drive the demand of the blockchain technology in healthcare market. Smart contracts can verify the eligibility of patients in clinical trials, process their claims and bill them accordingly. They can adhere to the latest regulations and enhance collaboration between stakeholders of said contracts. In November 2024, Tassat Group Inc. partnered with Veuu, an AI-powered healthcare fintech, for streamlining inefficiencies in claims processing.

Furthermore, government initiatives for the integration of blockchain in the healthcare sector while digitizing the existing infrastructure for better patient outcomes can bolster the market growth. The storage of digital health records like patient medical history, birth certificates, and others on the blockchain can ensure they remain immutable and secure.

The use of blockchain can lead to the robust verification of patient data and faster claim processing. Artificial intelligence (AI) can be used in amplifying the efforts and help the healthcare sector become organized. The use of AI and blockchain for faster diagnosis of diseases and acceleration of drug development can drive its demand in the blockchain technology in healthcare market.

For instance, the approval of a closed network blockchain can ensure that the data between authorized personnel are conducted safely. The transaction is authorized by the consensus of all members and registered as a permanent record on the blockchain.

The lack of understanding of blockchain technology and distributed ledgers to ensure all users remain accountable for the modification and retrieval of data can be a detriment to market growth. The application and live use cases of the technology in the healthcare sector can help decision-makers overcome their hesitation and embrace blockchain.

Blockchain for Impact (BFI), a healthcare fund by the government of India, signed a collaboration agreement with CSIR-Central Drug Research Institute (CDRI) on January 31, 2025. The agreement will help strengthen the public healthcare infrastructure across India and help marginalized communities access health facilities with ease.