MEDICAL CROWDFUNDING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In October 2024, as per American Cancer Society (ACS) analysis, over one-third of U.S. medical fundraising stories on GoFundMe highlight financial hardships and health-related social needs (HRSNs). These included housing and food insecurities, income loss, and transportation barriers. The findings are published in journal of the American Medical Association (JAMA) Oncology.
• In October 2024, GoFundMe and Meta, an online crowdfunding platform, announced a new collaboration to enhance nonprofit fundraising through social media. Nonprofits using GoFundMe’s software, Classy, can now access improved sharing features on Instagram, with similar functions coming soon to Facebook. This integration aims to make it easier for donors and nonprofits to share causes and encourage giving. Research from GoFundMe reveals that half of Gen Z shares fundraisers weekly, and social media has inspired many to donate. With over US$ 8 billion raised for nonprofits on Instagram and Facebook, this integration offers nonprofits a powerful tool to reach a global audience.
• In October 2024, GoFundMe raised over US$ 110 million for relief efforts following Hurricanes Helene and Milton, which devastated communities across the U.S. Southeast in September and October 2024. More than 550,000 donors from over 130 countries contributed to the fundraisers. Nonprofits, including World Central Kitchen and The Salvation Army, raised more than US$ 36 million through GoFundMe's software, Classy, to support emergency relief, food, and water needs for affected communities.
• On December 8, 2021, MOWOOT, an EIT Health-supported start-up, launched a pan-European fundraising campaign aiming to raise USD 2.12 million to expand its global market reach. The campaign is hosted on two investment platforms: EIT Health's Aescuvest and the Spanish crowdfunding platform Capital Cell.