Medical Crowdfunding Market, By Type of Crowdfunding (Donation-Based Crowdfunding, Reward-Based Crowdfunding, Equity-Based Crowdfunding, and Debt-Based Crowdfunding), By Application (Medical Expenses, Research Funding, Health Initiatives, and Medical Equi

Medical Crowdfunding Market, By Type of Crowdfunding (Donation-Based Crowdfunding, Reward-Based Crowdfunding, Equity-Based Crowdfunding, and Debt-Based Crowdfunding), By Application (Medical Expenses, Research Funding, Health Initiatives, and Medical Equipment Purchase), By Indication (Cancer, Neurological Disorders, Cardiovascular Diseases, Trauma, and Others), By End User (Patients, Non-Profit Organizations, Healthcare Institutions, Research Institutions, and Others (Healthcare professionals)), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Medical crowdfunding refers to the practice of funding a medical treatment or procedure through an online platform which pools small individual amounts from a large number of contributors or supporters. It has emerged as an important avenue to secure funds for medical needs for a large section of the population who lack adequate health insurance coverage or have out-of-pocket medical costs. Crowdfunding campaigns are increasingly being used by patients to raise money for costly surgeries, chronic illnesses, cancer treatment, organ transplants and other medical procedures. The popularity of medical crowdfunding can be attributed to the rise of crowdfunding platforms which have simplified the process of fundraising while also allowing connections with a large number of potential donors through social networking sites. The ability to leverage technology for securing community support has revolutionized healthcare financing.

Market Dynamics

Global medical crowdfunding market growth is driven by rising healthcare costs worldwide, growing prevalence of chronic and life-threatening diseases, and increasing gaps in health insurance coverage. However, low success rates of campaigns and ethical concerns regarding selective funding can hamper the market growth. Significant opportunities lie in expanding platform features to improve funding rates, tapping into new potential donor segments, and integrating with medical billing/payment systems. Geographical expansion into developing markets also presents an opportunity. Platform collaboration with healthcare providers, social groups, and insurance providers can help address some of the challenges while fostering shared responsibility in community healthcare.

Key features of the study

• This report provides in-depth analysis of the global medical crowdfunding market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global medical crowdfunding market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include GoFundMe, Impact Guru, Kickstarter, Indiegogo, Fundly, YouCaring, GiveForward, FundRazr, Ketto, Milaap, Classy, Crowdfunder, Crowdcube, MedGift, and Plumfund
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global medical crowdfunding market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global medical crowdfunding market

Market Segmentation

• Type of Crowdfunding Insights (Revenue, USD Bn, 2019 - 2031)
• Donation-Based Crowdfunding
• Reward-Based Crowdfunding
• Equity-Based Crowdfunding
• Debt-Based Crowdfunding
• Application Insights (Revenue, USD Bn, 2019 - 2031)
• Medical Expenses
• Research Funding
• Health Initiatives
• Medical Equipment Purchase
• Indication Insights (Revenue, USD Bn, 2019 - 2031)
• Cancer
• Neurological Disorders
• Cardiovascular Diseases
• Trauma
• Others
• End User Insights (Revenue, USD Bn, 2019 - 2031)
• Patients
• Non-Profit Organizations
• Healthcare Institutions
• Research Institutions
• Others (Healthcare professionals)
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
• North America
• U.S.
• Canada
• Latin America
• Brazil
• Argentina
• Mexico
• Rest of Latin America
• Europe
• Germany
• U.K.
• Spain
• France
• Italy
• Russia
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• ASEAN
• Rest of Asia Pacific
• Middle East
• GCC Countries
• Israel
• Rest of Middle East
• Africa
• South Africa
• North Africa
• Central Africa
• Key Players Insights
• GoFundMe
• Impact Guru
• Kickstarter
• Indiegogo
• Fundly
• YouCaring
• GiveForward
• FundRazr
• Ketto
• Milaap
• Classy
• Crowdfunder
• Crowdcube
• MedGift
• Plumfund