REDDING, Calif., Sept. 16, 2024 /PRNewswire/ — According to a new market research report titled, ‘Blockchain Market by Type (Public, Private, Hybrid, Consortium), Platform (Ethereum, Hyperledger, Polygon, Solana), Organization Size, Sector (BFSI, Government, Healthcare, Professional Services, Manufacturing), and Geography—Global Forecast to 2030.

The blockchain market is projected to reach $403.36 billion by 2030, at a CAGR of 67.7% from 2023 to 2030.

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The growth of this market is mainly driven by the rising demand for secure and transparent transactions in the BFSI sector, the surging need to prevent data tampering in the healthcare sector, and the growing popularity of cryptocurrency. However, the high costs of blockchain implementation restrain the growth of this market.

Furthermore, SMEs’ focus on leveraging blockchain and the increasing adoption of blockchain among retailers are expected to create significant growth opportunities for the players in this market. However, regulatory uncertainties and the lack of interoperability between blockchain ecosystems are major challenges impacting market growth.

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Increasing Need to Prevent Data Tampering Driving the Adoption of Blockchain Technology in the Healthcare Sector

The growing popularity of cryptocurrency and the need to prevent data tampering in the healthcare sector are key factors increasing the adoption of blockchain technology. Cryptocurrencies, such as Bitcoin, have gained traction in recent years, showcasing the potential of decentralized digital currencies that rely on blockchain technology for secure and transparent transactions. Data integrity and security are of paramount importance in the healthcare sector. Medical records, clinical trial data, and patient information must be protected from unauthorized access, tampering, or alteration. With blockchain technology, healthcare organizations can securely store and share patient records, ensuring the security and integrity of sensitive information. The distributed nature of blockchain technology eliminates the reliance on a single centralized authority, reducing the risk of data manipulation or tampering. The players in this market are focused on launching new offerings for healthcare applications. For instance, in October 2020, IBM Watson Health (U.S.) launched a blockchain-powered digital health pass. This digital health initiative was aimed at allowing users to share their verified health status without exposing the data used to generate it.

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Blockchain Market Analysis: Key Findings

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• By Type: In 2023, the public segment accounted for the largest share of 66.9% of the blockchain market. However, the private segment is expected to register the highest CAGR of 70.3% during the forecast period 2023–2030.
• By Platform: In 2023, the Ethereum segment accounted for the largest share of 53.8% of the blockchain market. However, the Hyperledger segment is expected to register the highest CAGR of 71.0% during the forecast period 2023–2030.
• By Organization Size: In 2023, the large enterprises segment accounted for the major share of 74.0% of the blockchain market. However, the small & medium-sized enterprises segment is expected to register the higher CAGR of 70.1% during the forecast period 2023–2030.
• By Application: In 2023, the payments segment accounted for the largest share of 25.2% of the blockchain market. Also, the payments segment is expected to register the highest CAGR of 69.3% during the forecast period 2023–2030.
• By Sector: In 2023, the BFSI segment accounted for the largest share of 41.2% of the blockchain market. However, the healthcare & life sciences segment is expected to register the highest CAGR of 80.2% during the forecast period 2023–2030.

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Blockchain Market Analysis by Segment with Projected CAGR (2023–2030)

Category	2023 Largest Share	% Share (2023)	Highest CAGR (2023-2030)	CAGR % (2023-2030)
By Type	Public Segment	66.90 %	Private Segment Advertisement	70.30 %
By Platform	Ethereum Segment	53.80 %	Hyperledger Segment	71.00 %
By Organization Size	Large Enterprises Segment	74.00 %	Small & Medium Enterprises Advertisement	70.10 %
By Application	Payments Segment	25.20 %	Payments Segment	69.30 %
By Sector	BFSI Segment	41.20 %	Healthcare & Life Sciences Advertisement	80.20 %

Geographic Analysis:

Based on geography, the blockchain market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America accounted for the largest share of 38.9% of the blockchain market. This market is projected to reach $136. 4 Billion by 2030.

Financial service industries across North America are poised for transformative change, and leading corporations and start-ups are increasingly investing in fintech. The increasing use of technologies within business ecosystems, the growing number of financial firms, millennials’ preference for digital applications and services for task completion, the rising demand for high-speed apps, and the growing need for real-time data transfer capabilities are expected to support the growth of the blockchain market in North America over the forecast period.

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Furthermore, the presence of several blockchain providers across North America has also contributed to the region’s large market size. For instance, North America is home to some of the most popular blockchain development companies around the globe, including IBM and Amazon Web Services Inc. These companies are actively focusing on the development of innovative blockchain products. Additionally, governments in the region have undertaken several initiatives to support the adoption and raise awareness regarding blockchain technology.

In 2023, the U.S. accounted for the dominant share of 95.4% of the blockchain market in North America. The country’s large market share is mainly attributed to the increasing demand for decentralized financial solutions, the presence of leading blockchain development companies, and the increasing implementation of blockchain technology across retail, government, and BFSI organizations.

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The high potential for the widespread adoption of blockchain technology across the financial services sector, the increasing development of digital currencies and fast payment methods, and the emergence of cryptocurrencies such as bitcoin are driving the growth of the blockchain market in the U.S. Furthermore, research and investments in blockchain technology are creating notable brands such as Libra (Facebook), JPM coin (JPMorgan) and Gemini coin (Winklevoss brothers), broadening the scope of the blockchain market. Leading blockchain providers are implementing solutions across the U.S. to ensure safe & secure transactions. For instance, in April 2021, BitGo (U.S.) implemented blockchain solutions to enable security for CoinLoan (Estonia) clients across the U.S.

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Asia-Pacific: The Fastest-growing Regional Market

Asia-Pacific is projected to register the highest CAGR of 71.5% during the forecast period. In 2023, China accounted for the largest share of the blockchain market in Asia-Pacific. Market growth in APAC is attributed to the surging demand for safe transactions across international borders, the growing number of crypto-related businesses, and rising disposable incomes. Government policies and initiatives incorporating blockchain technology in the public sector are also expected to create growth opportunities for the players in this market.

The Asia-Pacific region is a leading fintech powerhouse due to the presence of hotspots, including Hong Kong, Singapore, Melbourne, and Indonesia. The presence of Chinese fintech hubs across Beijing, Shanghai, and Shenzhen, the increasing number of fintech companies across India, and the growing demand for friction-free, peer-to-peer transactions are driving the growth of the blockchain market in APAC.

Governments in the region have recognized the potential of blockchain technology and have launched initiatives to support its development. For example, China has expressed a strong interest in blockchain and has invested heavily in research and development. Singapore has also created a conducive environment for blockchain start-ups through regulatory frameworks and funding. These government initiatives contribute to market growth in the region.

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The U.K. Continues to Dominate the Blockchain Market in Europe

In 2023, the U.K. accounted for the largest share of the blockchain market in Europe. Factors driving market growth in the U.K. include the strong presence of leading financial firms, supportive government initiatives, and advances in fintech.

Blockchain has driven innovation across industries in the U.K. The emergence of distributed ledger technologies, such as blockchain, is influencing industries in the U.K., owing to the rapid development and proliferation of blockchain applications across the country. For instance, in March 2021, the London Stock Exchange partnered with IBM Corporation (U.S.) to develop Turquoise, a blockchain-based platform for issuing digital securities. The platform streamlines post-trade processes, enhances transparency, and attracts new investors by leveraging the benefits of blockchain technology.

Furthermore, Walmart (U.S.) implemented a blockchain solution for tracking and tracing food products in its U.K. stores. This solution helps ensure food safety, improves efficiency, and builds consumer trust. Blockchain technology can also revolutionize healthcare systems by improving data management, patient privacy, and interoperability. In the U.K., the National Health Service (NHS) implemented blockchain in the MediLedger Project led by the NHS National Innovation Center (NIC). This project aims to leverage blockchain to share medical research data securely and efficiently. These factors contribute to market growth in the country.

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Blockchain Market: Competition Analysis

This report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted over the past 3–4 years. Major companies in the blockchain market have implemented various strategies to expand their product offerings and global footprints and augment their market shares. The key strategies followed by leading companies in the blockchain market include product launches, expansions, mergers & acquisitions, agreements, collaborations, and partnerships. The key players operating in the blockchain market include IBM Corporation (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), Amazon Web Services, Inc. (U.S.), Infosys Limited (India), Accenture plc (Ireland), Wipro Limited (India), Blockchain.com (U.K.), Circle Internet Financial Limited (U.S.), Ripple (U.S.), Tata Consultancy Services Limited (India), Intel Corporation (U.S.), Chainalysis Inc. (U.S.), Coinbase (U.S.), and BitGo (U.S.).

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Blockchain Industry Overview: Latest Developments from Key Industry Players

• In January 2023, Amazon Web Services (U.S.) launched Avalanche to help bring blockchain technology to enterprises and governments. Avalanche is the first blockchain integrated with Amazon’s cloud-computing platform.
• In January 2023, Ava Labs (Brooklyn) partnered with Amazon Web Services (U.S.) to allow individuals and institutions to launch subnets that can operate as self-sufficient blockchain systems.
• In November 2022, Accenture plc collaborated with NTT DOCOMO (Japan) to accelerate the adoption and application of Web3 for addressing social issues.
• In October 2022, Oracle Corporation launched its Oracle Database 23c Beta, the new version of the world’s most widely used converged database that supports all data types, workloads, and development styles.
• In August 2022, Infosys Limited partnered with VMware (U.S.) to launch a blockchain-based vital records management solution.
• In May 2022, Keep Sea Blue (Athens), an international and independent association, collaborated with Oracle Corporation (U.S.) to use Oracle’s blockchain technology to fight plastic pollution and keep the Mediterranean clean.
• In November 2021, Infosys Finacle (India), a wholly-owned subsidiary of Infosys, collaborated with IBM Corporation (U.S.) to make the Finacle Digital Banking Solution available on Red Hat OpenShift and IBM Cloud with blockchain technology for Financial Services.
• In August 2021, IBM Corporation (U.S.) collaborated with NPTEL to offer a 12-week online course on blockchain architecture, design, and use cases.
• In January 2021, IBM Corporation (U.S.) partnered with Thai Reinsurance Public Company Limited (Thailand) to launch ASEAN’s first reinsurance smart contract platform using its blockchain and hybrid cloud technology.
• In January 2021, Microsoft Corporation (U.S.) collaborated with Invest India to empower tech start-ups. The start-ups shortlisted by Microsoft included Whrrl Fintech Solutions, a company that empowers farmers, traders, and producer companies on a blockchain platform to raise working capital to tide over lengthy crop cycles.

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Scope of the Report:

Blockchain Market Assessment—by Type

• Public
• Private
• Hybrid
• Consortium

Blockchain Market Assessment—by Platform

• Ethereum
• Hyperledger
• R3 Corda
• Polygon
• Solana
• BSC
• Terra
• Other Platforms

Blockchain Market Assessment—by Organization Size

• Large Enterprises
• Small & Medium-sized Enterprises

Blockchain Market Assessment—by Application

• Digital Currency
• Asset Protection & Transfer
• Identity Protection
• Payments
• Data Reconciliation & Sharing
• Track & Trace
• Certification
• Other Applications

Blockchain Market Assessment—by Sector

• BFSI
• Government
• Healthcare & Life Sciences
• Retail & E-commerce
• Energy & Utilities
• Professional Services
• Media & Entertainment
• Manufacturing
• Other Sectors

Blockchain Market Assessment—by Geography

• North America
• U.S.
• Canada
• Asia-Pacific (APAC)
• China
• Japan
• India
• South Korea
• Australia & New Zealand
• Singapore
• Rest of Asia-Pacific (RoAPAC)
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Sweden
• Rest of Europe (RoE)
• Latin America
• Brazil
• Mexico
• Rest of Latin America (RoLATAM)
• Middle East & Africa
• UAE
• Israel
• Rest of Middle East & Africa

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Blockchain Market to hit $403.36 Billion by 2030, growing at a 67.7% CAGR from 2023. Explore growth trends and future opportunities in this booming industry. – https://www.meticulousresearch.com/product/blockchain-market-5526

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Blockchain Market Research Report Summary

Report Metrics	Details
Base year considered	2022
Forecast period	2023-2030
CAGR	CAGR 67.70%
Market Size Advertisement	$403.36 billion
Segments Covered	By Type (Public, Private, Hybrid, Consortium), Platform (Ethereum, Hyperledger, Polygon, Solana), Organization, Sector (BFSI, Government, Healthcare, Professional Services, Manufacturing), and Geography
Geographies covered	North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Companies covered	International Business Machines Corporation (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), Amazon Web Services, Inc. (U.S.), Infosys Limited (India), Accenture plc (Ireland), Wipro Limited (India), Blockchain.com (U.K.), Circle Internet Financial Limited (U.S.), Ripple (U.S.), Tata Consultancy Services Limited (India), Intel Corporation (U.S.), Chainalysis Inc. (U.S.), Coinbase (U.S.), and BitGo (U.S.).

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Epitomee’s Ingestible Capsule, Offers a Safe and Effective Prescription Solution for Adults with BMI of 25-40 looking for Alternative Drug Free Solutions for Their Weight Management Needs alongside diet and exercise.

CAESAREA, Israel, Sept. 16, 2024 /PRNewswire/ — Epitomee Medical Ltd. (TASE: EPIT), announced that the United States Food and Drug Administration (FDA) has officially cleared the Epitomee® Capsule, a cutting-edge ingestible medical device designed to support weight management in adults with a Body Mass Index (BMI) of 25–40 kg/m² alongside diet and exercise. This novel, drug-free treatment provides a new option for millions of health-conscious individuals in the U.S.

The Epitomee® Capsule represents an innovative prescription option in weight management solutions, offering a drug-free alternative that differs from injectable treatments. With FDA clearance extending to adults with a BMI starting at 25, Epitomee® Capsule is accessible to a broader range of patients looking for tolerable and easy to use weight management solutions. The Epitomee® device is encased in a standard size, self-administered ingestible capsule. Once the Epitomee® Capsule is swallowed, and reaches the stomach it absorbs water in the stomach and creates a three-dimensional matrix designed to occupy volume in the stomach creating a sensation of fullness, enabling weight loss. The Epitomee® Capsule mechanism of action is purely mechanical and does not involve any chemical activity. The capsule works directly in the gastrointestinal (GI) tract.

Epitomee® Capsule was cleared by the U.S. FDA following the RESET study: A prospective, randomized, double-blind, placebo-controlled, multi-canter trial. The study enrolled 279 overweight and obese adults with and without prediabetes. All 9 sites enrolled in the study were in the US, located across 9 different states. Eligible subjects were randomized to test or placebo arms. Subjects were to take one capsule of the investigational device or placebo twice daily , alongside diet and exercise, for a period of 24 weeks. The study demonstrated that both co-primary endpoints were successfully met. The RESET study demonstrated significantly better weight loss among the device group compared to the control group (P<0.0001). The co-primary endpoint of treatment responders was also achieved: the rate of Epitomee treatment group subjects whose total body weight was reduced by at least 5% at 24-weeks post randomization was 55.5% (CI; 46.1-64.6), significantly exceeding the threshold of >35% (P<0.0001).

The study demonstrated a favourable safety profile of Epitomee® treatment throughout the study duration. Epitomee® treatment was well tolerated, with fewer patient dropouts in Epitomee® group than the control group. There were no serious adverse device effects (SADEs) in the study. In addition, subjects treated with Epitomee® showed better improvement in quality of life in several items of the IWQOL-Lite-CT questionnaire.

The company also performed an additional study in 3 out of the 9 sites that participated in the RESET study, the ELECT study. In this study subjects from both the device group and the placebo group kept on taking the Epitomee® capsule for an additional 24 week period. The study demonstrated a favourable safety profile of Epitomee® treatment throughout the 48 weeks of the study duration for subjects in the device group.

Shimon Eckhouse PhD co-founder and chairman of the board, commented on the approval: “The FDA clearance of the Epitomee® Capsule marks a significant milestone in the field of weight management. Its innovative approach offers a safe and effective option for patients. The ability to manage weight through a simple, drug free capsule opens up new possibilities for those seeking to improve their health and quality of life.”

Dan Hashimshony PhD, CEO of Epitomee Medical Ltd., commented: “We are proud to have received FDA clearance for our Epitomee® weight management Oral, Drug-Free solution. This achievement is the result of the innovative approach we have taken to tackle the global obesity epidemic. Our capsule offers a safe, effective, and drug-free solution to the many millions of individuals struggling with weight management. As we move forward, we are eager to bring this groundbreaking product to the U.S. market and seek strategic partnerships to fully realize its commercial potential.”

About Epitomee Medical Ltd.
Epitomee Medical Ltd, a public company (TASE: EPIT), co-founded in 2005 by Shimon Eckhouse, PhD and led by CEO Dan Hashimshony PhD.  Shimon co-founded Syneron Medical Ltd. (Nasdaq: ELOS), Lumenis (formally ESC Medical) and co-founded Ventor Medical Technologies, which was acquired by Medtronic. Dan was the founding CEO of Dune Medical Devices, a surgical oncology company (acquired by Dilon Technologies). Prior to that, Dan was with X-Technologies (acquired by Guidant in 2003) and Sela Semiconductor (acquired by Camtek).

The company is a pioneering health solutions company, committed to advancing innovative therapies. With focus on safety, efficacy, and improving quality of life, Epitomee Medical strives to be at the forefront of transformative healthcare solutions.
The company is advancing two major fields: weight management and biologic drug delivery. In addition to its flagship weight management solution, Epitomee Medical is developing a cutting-edge platform focused on the oral delivery of biologics. This innovative platform is designed to transport drugs to the absorption site with enhanced bioavailability.

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• The investment accelerates plans to commercially launch Peratech’s personal computing and automotive product ranges
• Peratech to receive $31.5M USD (£23.4M), led by Dark Matter Partners and anchored by IP-secured debt
• $6.5M USD in equity from new and existing investors was oversubscribed

Catterick Garrison, England, Sept. 16, 2024 /PRNewswire/ — Peratech secures $31.5 million (£23.4M) in its 2^nd major funding round on the confidence of commercial traction of its user interface improvements to PCs and laptops.

Peratech, a global innovation leader in force and haptic-based user interfaces, will use the proceeds to accelerate profitable revenue growth in proven products using its QTC^® based force sensing, leading haptic feedback, and unique Hydra^® user-interface software. Peratech’s proprietary technology combines analog-like force sensing, consistently clear haptic feedback, and intuitive interface-control software to make PC products and the gaming and creative software that runs on them fundamentally easier, more engaging, and more accessible to use. Hydra user interface software adds AI-based user interface intelligence for higher scores, better productivity, and more creativity that a wide range of users can enjoy—from novice to pro.

Said Peratech CEO Jon Stark, “Our force sensing and haptic feedback technologies not only make industry-leading haptic trackpads and force-enabled keyboards, but our control firmware and software does something that no other user interface product can: it makes the user interfaces intelligent. We use that intelligence to make PCs fundamentally easier, more engaging and more fun to use for every user type—from novices to professional content creators and gamers. This financial injection is a major endorsement to the success we’ve had in making better user experience platforms on Notebooks PCs and Peripherals and enables us to capitalize on our commercial wins and scale up for market share.”

Peratech has secured commercial launches with key leaders in the electronics industry around keyboards, trackpads, and other controllers in the PC and gaming space. Peratech also sells automotive interfaces that eliminate driver distractions and improve customer satisfaction through a safer, more engaging in-cabin environment.

“Peratech has built a unique platform technology, with extremely strong IP foundations. They have proven commercial traction globally in large addressable markets. We believe in the management team and are excited to support their ambitions to scale up. We are also pleased to pioneer the ability of IP to act as the principal collateral in financing the technology leaders of the future.” Scott Bell, Joint Managing Partner, Dark Matter Partners

About Peratech:

Based on patented Quantum Tunnelling Composite (QTC®) technology and Hydra® user interface as-a-service software, Peratech brings a new dimension to tactile user interfaces, enabling intuitive, consistent experiences in a wide variety of applications and markets. Over a million devices around the world now employ Peratech QTC® based technology. Peratech Holdco Ltd. is a privately held company headquartered in North Yorkshire, UK.

Website and Social Media:

Website: www.peratech.com
LinkedIn: /peratech

About Dark Matter Partners:

Dark Matter Partners provides structured capital solutions to European technology companies. Over 85% of company value today is intangible, principally IP, and we design innovative financing solutions to enable IP-rich companies to secure scale-up capital without significant equity dilution. Our partners include Aon for insurance broking services and a number of leading global insurers, funds, family offices and law firms.

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