The medical crowdfunding market enables individuals and patients to raise funds for medical treatments, procedures or health related expenses. Medical crowdfunding platforms allow patients to share their healthcare journeys and funding needs, helping unlock financial assistance from donors. With the growing prevalence of chronic diseases worldwide and rising out-of-pocket medical costs, medical crowdfunding is emerging as an effective solution for meeting treatment costs.
The Global Medical Crowdfunding Market is estimated to be valued at USD 6.92 Bn in 2025 and is expected to exhibit a CAGR of 13.4% over the forecast period 2025 to 2031.
Chronic illnesses such as cancer, cardiovascular diseases and neurological disorders are putting significant strain on personal finances and healthcare budgets. Medical crowdfunding provides an alternative avenue for patients to access specialized or long term treatments, assisting them to avoid medical debt or bankruptcy.
Key Takeaways
Key players operating in the Medical Crowdfunding market are GoFundMe, Impact Guru, Kickstarter, Indiegogo, Fundly, YouCaring, GiveForward, FundRazr, Ketto, Milaap, Classy, Crowdfunder, Crowdcube, MedGift, and Plumfund. GoFundMe dominates over 40% of the market share due to its wide outreach and successful fundraising campaigns.
The growing chronic disease burden and rising healthcare costs are fueling Medical Crowdfunding Market Demand services across major regions. As per WHO, chronic diseases accounted for over 70% of global deaths in 2020, prompting millions to seek alternative financing for treatments.
Leading medical crowdfunding platforms are focusing on international expansion to benefit patients globally. Partnerships with hospitals and insurance agencies are helping widen access and crowd greater contributions for critical cases. North America currently holds the largest share but Asia Pacific is emerging as a high growth market.
Market Key Trends
One of the major trends gaining traction in the medical crowdfunding market is the integration of blockchain technology. Platforms are leveraging blockchain to improve transparency, offer immutable donation records and facilitate cross border fund transfers efficiently. This encourages greater participation from global donors and fund seekers. With its secure peer-to-peer capabilities, blockchain is poised to transform the medical crowdfunding experience and crowd even higher amounts in the coming years.
Porter’s Analysis
Threat of new entrants: New players may find it difficult to enter the market as medical crowdfunding requires partnerships with insurance providers and healthcare professionals.
Bargaining power of buyers: Individual donors have low bargaining power in the market as medical crowdfunding campaigns do not provide transparency and accountability.
Bargaining power of suppliers: Healthcare providers and intermediaries have moderate bargaining power as medical crowdfunding platforms depend on their partnerships and services.
Threat of new substitutes: Other alternative fundraising methods like donations and charity events provide some level of competition.
Competitive rivalry: Major crowdfunding platforms compete intensely on parameters like website traffic, number of campaigns hosted and success rates.
Geographical Regions
North America currently dominates the global medical crowdfunding market in terms of value largely due to the increasing healthcare costs in the United States. High medical bills often force people to turn to crowdfunding for financial assistance.
Asia Pacific is expected to witness the fastest growth during the forecast period mainly attributed to growing awareness, ease of online funds collection, and emergence of new digital payment solutions in countries like India and China. Issues like inadequate health insurance penetration and rise of nuclear families boost the adoption of medical crowdfunding.
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