Digital Payment in Healthcare Market Overview
The Digital Payment in Healthcare Market is projected to grow from USD 10.99 billion in 2024 to USD 30.69 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.70% during the forecast period (2024 - 2032). Additionally, the market size for Digital Payment in Healthcare was valued at USD 9.66 billion in 2023.
The key market drivers enhancing market growth are the increased need to drive efficiency and effectiveness and growing adoption across various verticals, including energy and utilities, healthcare, and life sciences.
Digital Payment in Healthcare Market Trends
Technological advancements are driving the market growth
The expansion of digital payment in the healthcare industry during the forecast period is being driven by the most recent technology to facilitate corporate operations. Companies are eager to implement these technologies to increase their scalability and flexibility and lower overall operating costs. With the aid of software as a service, businesses are outsourcing their business operations to a third-party company so they can concentrate on their core capabilities. Additionally, automation of corporate operations is aided by artificial intelligence and machine learning. This factor drives the market CAGR.
Additionally, the growth of digital payment in the healthcare market is driven by several factors, including the need to adopt new IT solutions aligned with consumer trends, the demand for simplified procurement processes by enterprises, and the management of compliance policies and agreements. However, outsourcing risks and management difficulties could be improved to market growth. On the other hand, technological advancements, increased demand from the manufacturing sectors, and the adoption of AI and big data technologies present promising opportunities for market growth in the forecast period. Thus, driving the Digital Payment in Healthcare market revenue.
Digital Payment in Healthcare Market Segment Insights
Digital Payment in Healthcare Component Solution Insights
The Digital Payment in Healthcare market segmentation, based on component solutions, includes solutions and services. The solution segment dominated the market because solutions streamline payment processes by allowing patients to electronically make secure and convenient transactions. They eliminate the need for manual paperwork, reduce administrative costs, and improve overall efficiency. Additionally, digital payment solutions provide greater transparency and accuracy in financial transactions, enhancing the patient experience.
Digital Payment in Healthcare Deployment Insights
Based on Deployment, the Digital Payment in Healthcare market segmentation includes on-premise and Cloud. The dominance of the cloud segment in the digital payment in the healthcare market can be attributed to its inherent benefits, such as scalability, flexibility, cost-effectiveness, and ease of implementation. Cloud-based solutions enable organizations to access services and data seamlessly, anytime and anywhere, using any device, providing convenience and accessibility.
Digital Payment in Healthcare Organization Size Insights
Based on organization size, the Digital Payment in Healthcare market segmentation includes small and medium-sized enterprises (SMEs) and large enterprises. The large enterprise segment dominated the market because large enterprises typically have more complex needs, higher transaction volumes, and larger budgets, making outsourcing a more viable option for them. Large enterprises often have diverse supplier networks, operations, and the need for specialized digital expertise.
Digital Payment in Healthcare Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Digital Payment in the Healthcare market will dominate due to the increased need to drive efficiency and effectiveness and will boost the market growth in this Region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Europe's Digital Payment in the Healthcare market accounts for the second-largest market share because digital payment in healthcare is witnessing growth across various verticals, including energy and utilities, healthcare, and life sciences. The increased adoption of digital payment in healthcare services in these industries contributes to market expansion. Further, the German Digital Payment in the Healthcare market held the largest market share, and the UK Digital Payment in the Healthcare market was the fastest-growing market in the European Region.
The Asia-Pacific Digital Payment in Healthcare Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to adoption in the manufacturing vertical. The verticals include retail and consumer goods, manufacturing, IT, and telecommunications. Moreover, China’s Digital Payment in the Healthcare market held the largest market share, and Indian Digital Payment in the Healthcare market was the fastest-growing market in the Asia-Pacific region.
Digital Payment in Healthcare Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help digital payment in the healthcare market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To thrive in the increasingly competitive healthcare industry, digital payment solutions must provide cost-effective options to expand their reach and meet the growing market demands.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Digital Payment in the Healthcare industry to benefit clients and increase the market sector. In recent years, the Digital Payment in Healthcare industry has offered some of the most significant advantages to medicine. Major players in the Digital Payment in the Healthcare market, including Aurus Inc. (US), Aliant Payments (US), Stripe (US), ACI Worldwide, Inc. (US), Payments Direct, Inc. (US), First Data Corporation (US), PayPal (US), Worldpay, LLC (UK), Wirecard AG (Germany), Fiserv, Inc. (US), InstaMed (US), Billing Tree (US), Change Healthcare (US), Elavon Inc. (US), and Zelis Payments (US)., and To boost market demand, some companies are focusing on enhancing their research and development capabilities.
ParkMobile, a subsidiary of EasyPark Group, is a leading provider of smart parking and mobility solutions in North America. It offers a contactless approach that enables millions of users to easily locate, reserve, and pay for parking through their mobile devices. With a wide presence in over 3,000 locations, including 39 of the top 100 U.S. cities, ParkMobile has gained popularity among more than 40 million consumers. Its services encompass various parking options such as on- and off-street parking, airport and event reservations, transient reservations, and municipal parking permit solutions. Recently, ParkMobile announced a partnership with EasyPark, a cooperative specializing in office solutions.
Aliant is an international law firm comprised of carefully selected elite law firms worldwide. These independent firms combine expertise in cross-border transactions and litigation, combining knowledge with local understanding to deliver top-notch legal advice. In a pioneering move, Aliant became one of the first payment processors to offer a cryptocurrency payment solution called CryptoBucks. This strategic initiative aims to expand partnerships with major retailers, fintech companies, and software developers, fostering greater adoption of cryptocurrency payments.
Key Companies In The Digital Payment in Healthcare Market Include
Fiserv, Inc
Aliant Payments
First Data Corporation
Wirecard AG
Stripe
Worldpay, LLC
Payments Direct, Inc
PayPal
Aquanima S.A. (Spain)
Digital Payment in Healthcare Industry Developments
July 2020: ParkMobile, a stopping arrangement provider, announced its partnership with EasyPark, a cooperative specializing in offices.
April 2017: Aliant became one of the first payment processors to offer a cryptocurrency payment solution to merchants. The CryptoBucks app launch is the latest development in a growth strategy to partner with both major retailers and fintech and software developers to increase the use of cryptocurrency payments.
Digital Payment in Healthcare Market Segmentation
Digital Payment in Healthcare By Component Solution Outlook
Solution
Service
Digital Payment in Healthcare By Deployment Outlook
On-Premise
Cloud
Digital Payment in Healthcare By Organization Size Outlook
Small and medium-sized enterprises (SMEs)
Large enterprises
Digital Payment in Healthcare Regional Outlook
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 9.66 billion |
| Market Size 2024 | USD 10.99 billion |
| Market Size 2032 | USD 30.69 billion |
| Compound Annual Growth Rate (CAGR) | 13.70% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component Solution, Deployment, Organization Size, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â Aurus Inc. (US), Aliant Payments (US), Stripe (US), ACI Worldwide, Inc. (US), Payments Direct, Inc. (US), First Data Corporation (US), PayPal (US), Worldpay, LLC (UK), Wirecard AG (Germany), Fiserv, Inc. (US), InstaMed (US), Billing Tree (US), Change Healthcare (US), Elavon Inc. (US), and Zelis Payments (US) |
| Key Market Opportunities | Digital payment solutions in healthcare are witnessing a notable rise in adoption across various industries, including energy and utilities, healthcare, and life sciences. |
| Key Market Dynamics | Increased need to drive efficiency and effectiveness |
Digital Payment Healthcare Market Highlights:
Frequently Asked Questions (FAQ) :
The Digital Payment in Healthcare market size was valued at USD 9.66 Billion in 2023.
The market is projected to grow at a CAGR of 13.70% during the forecast period, 2024-2032.
North America witnessed the largest share of the market
The major players in the market are Aurus Inc. (US), Aliant Payments (US), Stripe (US), ACI Worldwide, Inc. (US), Payments Direct, Inc. (US), First Data Corporation (US), PayPal (US), Worldpay, LLC (UK), Wirecard AG (Germany), Fiserv, Inc. (US).
The Solution Digital Payment in the Healthcare category dominated the market in 2022.
The Cloud had the largest share of the market.
Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
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