What are the Historical Developments and Current Growth Metrics of the Blockchain In Genomics Market?
The blockchain in genomics market has seen considerable growth due to a variety of factors.
• The market size of blockchain in genomics has seen exponential growth in recent years, expanding from $0.84 billion in 2024 to $1.01 billion in 2025 with a Compound Annual Growth Rate (CAGR) of 20.8%.
The significant growth during this period is due to continuous advancements in genomics, an upsurge in the use of digital tools and increasing digitization of healthcare services. Additionally, the growing interest and consciousness about the capabilities and potential advantages of blockchain technology in genomics have also contributed to this escalation.
What Does Future Hold for The Blockchain In Genomics Market By 2029?
The blockchain in genomics market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of blockchain in genomics is anticipated to experience a quick expansion in the coming years. It is projected to reach a value of $2.01 billion by 2029, growing at a compound annual growth rate (CAGR) of 18.7%.
This growth over the forecast period could be due to the surging demand for secure, efficient methods for the storage and retrieval of genomic data, along with the increasing implementation of blockchain-based solutions for sharing genomic data. Other factors contributing to this growth include the uptick in investments towards genomics R&D activities and growing governmental investment in healthcare R&D. Significant trends to watch during this forecast period encompass advancements in blockchain technology for genomic data storage and retrieval, technological progression, inventive developments, enhanced investment and funding, and the application of blockchain in bioinformatics.
What Are The Primary Growth Drivers In The Blockchain In Genomics Market?
The growth of the blockchain in the genomics market looks set to accelerate due to the surge in utilization of digital tools. The integration of new digital systems and tools - a process known as digital adoption - significantly refines operations to accomplish desired results. The COVID-19 global crisis acted as a major facilitator for digital adoption as lockdowns and social distancing prompted people and organizations to increasingly use digital means for communication, education, shopping, and entertainment. Blockchain in genomics use these digital tools such as software, hardware, and online platforms to boost the encryption and security level for genomic data, maintaining its protection and confidentiality. The Eurostat agency of Luxembourg, in May 2024, reported that 8.5% of EU citizens aged 16-74 in 2023 were involved in online consultations via the internet, highlighting the rising need for digital health solutions and subsequently leading to the growth of the blockchain in genomics market. Personalized medicine's increasing demand is set to further drive the growth trajectory of the blockchain in the genomics market. This medical strategy, which moulds healthcare decisions and treatments to suit each patient's unique characteristics, is gaining momentum due to the rising frequency of chronic diseases such as cancer, heart disease, and diabetes. Personalized medicine advocates for tailored treatments that address the particular causes and progress of each patient's condition. In this context, blockchain in genomics facilitates secure storage and sharing of genomic data and balances privacy protection while granting access to crucial data for personalized treatments to researchers and healthcare personnel. The US-based Personalized Medicine Coalition reports that the FDA's Center for Drug Evaluation and Research (CDER) approved 37 new molecular entities (NMEs) in 2022. With nearly 34% or 12 of the 35 therapeutic NMEs deemed as personalized medicines by the Coalition, it is clear that the growing demand for personalized medicine is setting the course for the expansion of the blockchain in genomics market.
What Is The Segmentation Of The Global Blockchain In Genomics Market?
The blockchain in genomics market 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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Who Are the Key Players In The Blockchain In Genomics Market?
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
What Are The Regional Insights Into The Blockchain In Genomics Market?
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.
