Global Digital Payment in Healthcare Market Size Likely to Expand at a CAGR of 17.2% By 2033

As per the current market research conducted by the CMI Team, the global Digital Payment in Healthcare Market size is expected to record a CAGR of 17.2% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 14,746.2 Million. By 2033, the valuation is anticipated to reach USD 61,521.8 Million.

Digital Payment in Healthcare Market: Growth Factors and Dynamics

• Increasing Contactless Payments: Many places have seen higher demand for touchless and mobile payments due to health and safety issues. The health scare of COVID-19 called for action among healthcare providers, thus compelling them to implement these technologies into their payment systems.

• Government Policies and Regulations: As government policies and rules about digital health and payment are gaining momentum, adopting digital payment solutions in healthcare sectors, including eHR systems and telehealth reimbursements, is gaining speed.

• Growing Consumer Expectations for Convenience: The expectations from healthcare services are changing with the growing demand for convenience, including online appointment scheduling and bill payments, thus making healthcare organizations capable of offering more flexible payment options.

• Health Insurance Coverage Growth: The growth of health insurance coverage and reimbursement models requires digital payment solutions. Complex claims and payments are now being made digitally, which makes it easier to deal with claims, costs, and patient responsibilities and, thus, improves a better financial management system in healthcare.

Report Scope

Digital Payment in Healthcare Market: Partnership and Acquisitions

• In 2023, Mastercard partnered with the Arab African International Bank to drive digital transformation. This collaboration focuses on implementing AAIB’s digital strategy and secure payment solutions.

• In 2023, HDFC Bank joined hands with Crunchfish to launch OfflinePay. It’s the pilot for Offline digital payments under the RBI’s Regulatory Sandbox Program. They aimed to try out new payment solutions for customers and merchants.

• In 2023, Zelis partnered with Rectangle Health to launch a processing solution for healthcare digital payments. This collaboration aims to streamline payment processes for healthcare providers using Rectangle Health’s software solutions and Zelis’ technology expertise.

List of the prominent players in the Digital Payment in Healthcare Market:

• Square Inc.
• PayPal Holdings Inc.
• Stripe Inc.
• Worldpay Inc.
• Adyen N.V.
• Global Payments Inc.
• Fiserv Inc.
• Mastercard Incorporated
• Visa Inc.
• American Express Company
• Ingenico Group
• First Data Corporation
• Clover Network Inc.
• HealthPay24 LLC
• Nets Group A/S
• Others

The Digital Payment in Healthcare Market is segmented as follows:

By Type of Payment

• Direct Payments
  • Credit/Debit Card Payments
  • Bank Transfers
  • Digital Wallets
• Indirect Payments
  • Third-Party Payers
  • Health Savings Accounts (HSAs)
  • Flexible Spending Accounts (FSAs)

By Solution

• Application Program Interface
• Payment Gateway
• Payment Processing
• Payment Security & Fraud Management
• Transaction Risk Management
• Others

By End-User

• Hospitals
• Medical Clinics
• Pharmacies
• Health Insurance Companies
• Telemedicine and Remote Health Services
• Others

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America