Medical crowdfunding refers to fundraising campaigns created by individuals to obtain funds for medical treatment or healthcare-related expenses. Medical crowdfunding has gained popularity as a source of funding for people who are unable to afford expensive medical bills. These platforms allow patients to share their health issues and medical fund requirements with their network of friends, families and others to collect donations through online funding campaigns. The growing burden of healthcare costs on individuals as well as issues related to health insurance coverage have led to increase in demand for medical crowdfunding services.
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.
Key Takeaways
Key players: 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 the medical crowdfunding market with the largest market share.
Key opportunities: Untapped markets in developing regions present significant growth opportunities for players in the medical crowdfunding market. Growing smartphone and internet penetration is also expected to boost Medical Crowdfunding Market Demand opportunities.
Global expansion: Major players are focusing on expanding their global footprint by partnering with healthcare providers and insurance companies. Market participants are also investing in developing customized medical crowdfunding solutions for hospitals, pharmaceutical companies and other institutional clients.
Market drivers: The primary driver fueling the medical crowdfunding market growth is the increasing costs of healthcare services and rising incidence of diseases globally. Lack of health insurance coverage and difficulties in availing loans for medical treatment have also augmented the demand for medical crowdfunding in recent years.
PEST Analysis
Political: The medical crowdfunding market is regulated by various laws and acts related to healthcare, medical support, insurance etc. across countries and regions.
Economic: Changes in per capita healthcare expenditure, income levels, and health insurance coverage impact demand dynamics in the medical crowdfunding market.
Social: Factors like awareness about crowdfunding, sharing healthcare costs, and willingness to support medical causes online influence market trends.
Technological: Advancements in digital fundraising and social media platforms have streamlined campaign creation and donor participation, bolstering market growth. Collaboration between campaign organizers and tech companies enhances user experience.
Geographical Concentration
North America holds the major share of the global medical crowdfunding market in terms of value. This can be attributed to a well-established healthcare industry, high disposable incomes, and the prevalence of health insurance gaps and medical debt in countries like the United States.
Fastest Growing Region
The Asia Pacific region is expected to grow at the fastest CAGR during the forecast period. This growth can be credited to a rising middle-class population with access to internet and smartphones in developing nations like China and India. Furthermore, underdeveloped public healthcare systems and medical cost inflation fuel the need for alternate financing options in the region.
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