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Global Healthcare Digital Payment Market

Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The "Global Healthcare Digital Payment Market Size, Share & Trends Analysis, 2023-2030" report has been added to ResearchAndMarkets.com's offering.

The global healthcare digital payment market is poised for substantial growth over the next decade, with projections indicating a market size of USD 54.80 billion by 2030, growing at an impressive CAGR of 21.5% from 2023 to 2030. The industry's upward trajectory is largely fueled by the increasing preference for digital payment methods within the healthcare sector, a trend highlighted by a Salucro survey which found that 62% of healthcare consumers favored patient portals for settling medical bills.

The proliferation of smart devices combined with higher internet connectivity has notably contributed to the telemedicine industry's expansion, thus propelling the healthcare digital payment market forward. The convenience offered by digital payments is further exemplified by pharmacies adopting e-commerce models for medication delivery, simplifying the procurement process and reinforcing the adoption of online payments.

Collaborations between healthcare institutions and digital payment providers are instrumental in driving this market's growth. The integration of digital wallets and bank cards into customer transactions globally signifies the market's shift towards digitalized financial interactions. Not only does this increase transparency, but it also enhances the overall healthcare experience for providers and patients alike.

The recent pandemic expedited the shift towards telehealth and digital healthcare services, propelled by governmental and regulatory changes to support such advancements. Digital payment systems rose to the occasion, ensuring streamlined billing, electronic statements, and accommodating payment plans, which were crucial during the heightened uncertainty of the pandemic times.

Healthcare Digital Payment Market Report Highlights:

• Payment Processing Solutions: Dominating the market in 2022 with a significant revenue share, advancements in payment processing technologies contribute greatly to this sector's growth.

• Bank Cards Lead Payment Modes: Bank cards topped the mode of payment category in 2022, thanks to customer-centric features like credit card EMIs and rewards.

• Cloud Deployment Prevails: The cloud deployment segment spearheads the market due to growing cloud infrastructure and its wide-scale adoption within the industry.

• Large Enterprises at the Forefront: With the largest share in global revenue, large enterprises continue to integrate digital payment solutions to refine customer experiences and streamline payment processes.

• Hospitals Embrace Digital Payments: Hospitals lead the end-user segment, increasingly favoring digital payment solutions to offer patients contactless transaction options.

• North America in the Lead: The North American region claimed the largest market share, driven by the presence of key market players and a technologically savvy population.