The global digital payment in healthcare market is anticipated to grow at a considerable CAGR of 20.2% during the forecast period. Digital payment in healthcare involved the use of electronic methods to facilitate financial transactions, driven by factors such as convenience, efficiency, security, and cost reduction. The impact of the COVID-19 pandemic has further accelerated the transition towards contactless payment methods in healthcare settings. For instance, a notable development occurred in May 2022 when Visa Global Services Inc. reported that the healthcare industry presents a substantial opportunity for fintechs and financial institutions (FIs) to meet the growing demand for digital transformation. Notably, the U.S. wholesale medical supply market was anticipated to surpass $268 billion in 2021 and was projected to expand to over $305 billion by 2026.
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This escalating demand has led to the active involvement of key market players such as Axia Technologies, Stripe, Venmo, PayPal, and Nomi Health, among others. These entities have significantly contributed to market growth through various strategic approaches, including mergers and acquisitions, partnerships, collaborations, funding initiatives, and the introduction of software and services. These actions are aimed at maintaining competitiveness within the market landscape. For instance, in November 2022, Nomi Health launched an innovative solution known as Nomi Connect. This platform serves as a business operating system and payment platform, revolutionizing the way organizations purchase healthcare services directly. Furthermore, Nomi facilitates real-time payments to healthcare providers, addressing critical needs in the industry. The platform’s implementation strives to actualize real-time healthcare payments, consequently enhancing access to healthcare services while concurrently reducing costs.
As the healthcare sector increasingly embraces digital payment solutions, the market is set to experience sustained growth, fueled by the convergence of technological advancements and evolving consumer preferences.
Market Coverage
- The market number available for – 2023-2030
- Base year- 2022
- Forecast period- 2023-2030
- Segment Covered-
o By Component Solution
o By Deployments
o By Organization Size
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
Competitive Landscape- Includes Fiserv, Inc, Aliant Payments, First Data Corp., Worldpay, LLC, and Payments Direct, Inc, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Digital payment in Healthcare Market Report Segment
By Component Solution
- Solution
- Service
By Deployment
- On-Premise
- Cloud
By Organization Size
- Small and Medium-Sized Enterprises (SMEs)
- Large Enterprises
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Digital Payment in Healthcare Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Square, Inc.
- Stripe
- Adyen
- Alipay
- WeChat Pay
- Apple Pay
- Google Pay
- Samsung Pay
- Visa Inc.
- Mastercard
- American Express
- Fiserv, Inc.
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