Global Digital Payment in Healthcare Market was valued at USD 3.42 Bn in 2019 and is expected to reach at USD 16.42 Bn by 2027 at a CAGR of 21.67% over forecast period 2020-2027.
Global Digital Payment in Healthcare Market
Global Digital Payment in Healthcare Market
The report covers an in depth analysis of COVID 19 pandemic impact on Global Digital Payment in Healthcare Market by region and on the key players revenue affected till April 2020 and expected short term and long term impact on the market.
Global Digital Payment in Healthcare Market Dynamics:
Digital healthcare would have a profound impact on the healthcare industry itself. With citizens empowered to manage their own care, valuable resources in the health system would be freed up. Intelligent systems would allow lower-skilled workers to operate at the top of their licensure, carrying out more routine monitoring and virtual consultations. Major factors such as growing digital transformation in the healthcare vertical, increasing digital payments in the health insurance sector, growing adoption of smartphones and rapidly increasing internet penetration are also some of the factors driving the market growth over forecast period. Moreover, growing demand for fast and hassle-free transaction services is expected to create lucrative opportunities to players in the global digital payment in healthcare market.
However, concerns regarding security and domination of paper-based billing are expected to restrain the market growth during the forecast period.
Global Digital Payment in Healthcare Market is segmented by component, by deployment, by organisation size and by Region. By organisation size, large enterprises held 68.98% of market share over forecast period. Large enterprises are defined as entities with an employee strength of more than 1,000 individuals. Digital payment solutions are adopted by large enterprises, owing to the need to digitize their payment landscape, cater to the dynamic customer trends, streamline business operations, and enhance market competitiveness.
By deployment, cloud based deployment dominating the global market with xx% of market share over forecast period. Digital payment solutions in healthcare offer an online payment platform that connects consumers, providers, and payers for every healthcare payment transaction. These solutions are available as on-premise as well as on the cloud but the majority of the end users are adopting cloud based solutions.
By geography, market is segmented into North America, APAC, Europe, MEA& Africa and South America. Among all of these North America is dominated the global market with xx% of market share in 2019 and is expected to keep its dominance over forecast period. Healthcare providers, health maintenance organizations (HMO), and other organizations in the healthcare vertical in this region are transforming and becoming more inclined toward being digitalized. North America is followed by Europe and APAC. Europe is expected to hold xx% of market share over forecast period. An increasing demand for fast and hassle-free transaction services and the establishment of digital payment methods in healthcare software start-ups are driving the market in this region.
Asia-Pacific is expected to hold xx% of market share over forecast period. Developing countries such as India South Korea and China are driving the growth of the digital payment in healthcare market in this region owing to growing internet penetration and significant increase in the number of smartphones.
Report covers key development and company profiles of market leaders, potential players and new entrants. Some of the key players covered in this report are Aliant Payments (US), Stripe (US), ACI Worldwide, Inc. (US), Global Payments Direct, Inc. (US), First Data Corporation (US), PayPal (US), Worldpay, LLC (UK), Wirecard AG (Germany) and Fiserv, Inc. (US) among others. These key players are adopting various Greenfield and brownfield growth strategies such as merger& acquisitions, joint ventures, collaborations, expansion, diversification, new product launches, patent and strategic alliances to increase their regional presence and business opeartions.
The objective of the report is to present a comprehensive analysis of the Global Digital Payment in Healthcare Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Digital Payment in Healthcare Market dynamics, structure by analyzing the market segments and project Global Digital Payment in Healthcare Market. Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Digital Payment in Healthcare Market make the report investor’s guide.
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Scope of Global Digital Payment in Healthcare Market
Global Digital Payment in Healthcare Market by Component
Global Digital Payment in Healthcare Market by Deployment
Global Digital Payment in Healthcare Market by Organization Size
• Large enterprise
• Small- and medium-sized enterprise
Global Digital Payment in Healthcare Market by Region
• North America
• MEA& Africa
• South America
Global Digital Payment in Healthcare Market Major Players
• Aurus Inc. (US)
• Aliant Payments (US)
• Stripe (US)
• ACI Worldwide, Inc. (US)
• Global Payments Direct, Inc. (US)
• First Data Corporation (US)
• PayPal (US)
• Worldpay, LLC (UK)
• Wirecard AG (Germany)
• Fiserv, Inc. (US)
• InstaMed (US)
• BillingTree (US)
• Change Healthcare (US)
• Elavon Inc. (US)
• Zelis Payments (US).
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