Healthcare Pos Terminals Market Overview
As per MRFR analysis, the Healthcare Pos Terminals Market Size was estimated at 13.27 (USD Billion) in 2022. The Healthcare Pos Terminals Market Industry is expected to grow from 14.67(USD Billion) in 2023 to 36.4 (USD Billion) by 2032. The Healthcare Pos Terminals Market CAGR (growth rate) is expected to be around 10.62% during the forecast period (2024 - 2032).
Key Healthcare Pos Terminals Market Trends Highlighted
The healthcare POS terminals market is undergoing a number of notable shifts. What stands out as a trend among health care organizations is the increased adoption of cloud-based POS systems because of the flexibility, scalability and cost-savings they offer. Apart from the mPOS (mobile point of service) solutions that are transforming the industry, there is also an increase in use of mobile applications for the POS terminals. Moreover, contactless payments are becoming more prevalent owing to their ease of use and cleanliness benefits. Such trends are defining the market space and encouraging new solutions, as well as the greater requirements for securing sensitive patient information.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Healthcare Pos Terminals Market Drivers
Increasing Demand for Healthcare Services
The increasing demand for healthcare services is a major driven of the growth of the Healthcare Pos Terminals Market Industry. As the population ages and the incidence of chronic diseases increases, the demand for healthcare services is expected to continue to grow. This growth is expected to drive the demand for healthcare POS terminals, as they provide a convenient and efficient way for patients to pay for their healthcare services.
In addition, the growing adoption of electronic health records (EHRs) is also expected to drive the demand for healthcare POS terminals.EHRs allow healthcare providers to track patient information electronically, which makes it easier for them to process payments and manage patient accounts. Some of the key factors driving the growth of the Healthcare Pos Terminals Market Industry include: The increasing demand for healthcare services, The growing adoption of electronic health records (EHRs) The increasing use of mobile devices in healthcare settings The rising popularity of telemedicine The growing awareness of the benefits of healthcare POS terminals.
Government Initiatives to Promote Healthcare POS Terminals
Government initiatives are another major driver of the growth of the Healthcare Pos Terminals Market Industry. In many countries, governments are developing and implementing policies and regulations designed to increase the usage of healthcare POS terminals. For instance, the US government has recently launched the Medicare and Medicaid Electronic Health Record Incentive Program. This program provides healthcare providers eligible for Medicare and Medicaid with financial incentives to use EHRs and e-prescribing systems.Existing and forthcoming government initiatives will only continue to drive the growth of the Healthcare Pos Terminals Market Industry by making it more affordable for healthcare providers to adopt and utilize healthcare POS terminals.
Technological Advancements in Healthcare POS Terminals
There are also technological advancements in healthcare POS terminals, which are driving the growth of the Healthcare Pos Terminals Market Industry. Healthcare POS terminals are becoming more advanced and sophisticated, and they now offer a broader range of features and functionality. For example, many healthcare POS terminals now offer integrated patient identification and verification systems, which help to reduce fraud and improve patient safety.
Furthermore, healthcare POS terminals are becoming more mobile and portable, allowing healthcare providers to use them in a range of settings, such as at the point of care or in the patient’s home. Overall, it is expected that there will be further technological advancements in healthcare POS terminals in the future, which will drive the growth of the sector.
Healthcare Pos Terminals Market Segment Insights
Healthcare Pos Terminals Market Payment Processor Insights
Key players in this segment include First Data, Fiserv, Global Payments, Ingenico, PayPal, and Square. First Data, with its robust payment processing platform and extensive healthcare industry experience, holds a significant market share. The company offers a range of solutions tailored to the specific needs of healthcare providers, including integrated payment terminals, mobile point-of-sale (POS) devices, and online payment gateways. Fiserv, another major player, provides comprehensive payment processing services to healthcare organizations of all sizes.
Its solutions include payment authorization, clearing and settlement, fraud prevention, and data analytics. Fiserv's focus on innovation and customer-centric approach has contributed to its strong position in the market. Global Payments, known for its global reach and diverse product portfolio, caters to the payment needs of healthcare providers worldwide. The company offers a wide range of payment processing solutions, including POS terminals, e-commerce gateways, and mobile payment applications. Ingenico, a leading provider of payment solutions, has a significant presence in the healthcare POS terminals market.
The company's focus on security and reliability has made it a trusted partner for healthcare organizations. Ingenico offers a range of payment terminals designed specifically for the healthcare environment, ensuring secure and efficient transaction processing. PayPal, a global leader in online payments, has expanded its reach into the healthcare sector. The company's PayPal Here mobile payment solution enables healthcare providers to accept payments anywhere, anytime. PayPal's strong brand recognition and user-friendly platform have contributed to its growing popularity in the healthcare market.
Square, known for its innovative payment solutions, has made inroads into the healthcare POS terminals market. The company's Square Reader and Square Register devices offer a convenient and affordable way for healthcare providers to accept payments. Square's focus on simplicity and ease of use has resonated with healthcare organizations seeking efficient and cost-effective payment processing solutions. Overall, the Payment Processor segment in the Healthcare Pos Terminals Market is highly competitive, with leading players offering a comprehensive range of solutions tailored to the specific needs of healthcare providers.Strategic partnerships, technological advancements, and a focus on data security and compliance are key factors driving market growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Healthcare Pos Terminals Market Application Type Insights
The Healthcare Pos Terminals Market is segmented by Application Type into Standalone Terminals, Cloud-Based Terminals, and Mobile Terminals. Among these segments, Standalone Terminals held the largest market share in 2023, accounting for over 45% of the Healthcare Pos Terminals Market revenue. Cloud-Based Terminals are expected to witness the fastest growth during the forecast period, owing to the increasing adoption of cloud-based solutions in the healthcare industry. Mobile Terminals are also gaining popularity due to their portability and convenience.The growth of the market is attributed to the increasing demand for efficient and secure payment solutions, the rising adoption of electronic health records (EHRs), and the growing number of healthcare facilities.
Healthcare Pos Terminals Market Operating System Insights
The Healthcare Pos Terminals Market is segmented based on Operating System into Android, iOS, Windows, and Linux. Among these, the Android segment is expected to hold the largest market share, owing to its wide adoption in the healthcare industry. Android-based healthcare POS terminals offer a user-friendly interface, enhanced security features, and support for various applications and peripherals. The iOS segment is also witnessing significant growth due to the increasing popularity of Apple devices in the healthcare sector. Windows-based healthcare POS terminals are preferred in hospitals and clinics that have a large installed base of Windows-based systems.Linux-based healthcare POS terminals offer a cost-effective solution for smaller healthcare facilities and are gaining traction in developing regions.
Healthcare Pos Terminals Market Security Features Insights
EMV Compliance, PCI Compliance, Tokenization, and Encryption are critical security features in the Healthcare Pos Terminals Market, ensuring the protection of sensitive patient data and financial transactions. EMV Compliance, a global standard for chip-based payment cards, helps prevent fraud and data breaches. PCI Compliance, mandated by the Payment Card Industry Security Standards Council, ensures adherence to data security best practices. Tokenization replaces sensitive data with unique tokens, minimizing the risk of data breaches. Encryption safeguards data during transmission and storage, protecting it from unauthorized access.These security features are essential for maintaining patient trust and compliance with industry regulations, driving market growth.
Healthcare Pos Terminals Market Regional Insights
The regional segmentation of the Healthcare Pos Terminals Market offers valuable insights into the market's geographic distribution and growth dynamics. North America is expected to dominate the market throughout the forecast period, accounting for over 40% of the global revenue in 2024. The region's advanced healthcare infrastructure, high adoption of technology, and increasing government initiatives to improve healthcare delivery contribute to its leading position. Europe is another significant market, driven by factors such as rising healthcare expenditure, growing awareness of patient safety, and supportive government regulations.The Asia-Pacific region is projected to witness significant growth over the coming years, fueled by rapid economic development, expanding healthcare facilities, and increasing disposable income. South America and the Middle East and Africa (MEA) are also expected to contribute to the Healthcare Pos Terminals Market growth, albeit at a slower pace compared to the other regions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Healthcare Pos Terminals Market Key Players and Competitive Insights
Healthcare Pos Terminals Market’s major players are constantly involved in seeking strategic advantages over their competitors. These players primarily focus on various strategic initiatives, such as partnerships, acquisitions, and product innovations, towards improving their position and customers reach. Leading Healthcare Pos Terminals Market players are investing significantly in further expansion of their research and development activities to advance the skills and core competencies of their product and service offerings. The market is characterized by the presence of various competing players, ranging from established players to emerging startups. Various factors, such as advancements in technology, regulatory changes, and the increased demand for integrated solutions among healthcare providers, drive the competition between players.
Ingenico is a prominent player in the Healthcare Pos Terminals Market. It offers a range of point-of-sale terminals designed specifically for the needs of the healthcare industry. The company’s range of POS terminals is designed to streamline the payment process, improve patients’ experience, and operators’ day-to-day efficiency. In addition, Ingenico also benefits from a strong international presence and extensive collaborations with global healthcare operators. This aspect of a company is also the outcome of its strong customer-centric orientation that has allowed the company to rank among the top players in Healthcare Pos Terminals Market.
Key competitor of the studied pos terminal market is Verifone, which also provides a big selection of point of sale terminals and payment solutions specifically for health care. It offers various custom settings and integrations for EMR, and its devices ensure secure payment processing, including Apple Pay, Google Wallet etc. It has a strong position in the North American and European markets, and it is a recognised international brand with solid positions in emerging markets.
Key Companies in the Healthcare Pos Terminals Market Include
- Diebold Nixdorf
- Verifone Systems
- Flex Retail Solutions
- Atos SE
- PAX Global Technology
- First Datacorp
- Lixian Group
- NCR Corporation
- Toshiba Global Commerce Solutions
- Advantech Co. Ltd
- Elavon Inc
- Shenzhen Odec Electronics Co. Ltd
- Ingenico Group
Healthcare Pos Terminals Market Industry Developments
The Healthcare Pos Terminals Market is projected to reach a value of USD 36.4 billion by 2032, growing at a CAGR of 10.62% during the forecast period 2024-2032. The market growth is attributed to increasing adoption of electronic health records (EHRs), rising demand for patient-centric care, and growing awareness of the benefits of healthcare POS terminals.
Recent news developments in the market include the launch of new products and services by key players. For instance, in 2023, Ingenico launched a new healthcare POS terminal that offers a range of features such as patient check-in, appointment scheduling, and insurance verification. Additionally, the company announced a partnership with Epic Systems to integrate its POS terminal with Epic's EHR system.The competitive landscape of the Healthcare POS Terminals Market is characterized by the presence of several major players, including Ingenico, Verifone, PAX Technology, and NCR Corporation. These companies are continuously investing in research and development to offer innovative products and services to meet the evolving needs of healthcare providers.
Healthcare Pos Terminals Market Segmentation Insights
Healthcare Pos Terminals Market Payment Processor Outlook
- First Data
- Fiserv
- Global Payments
- Ingenico
- PayPal
- Square
Healthcare Pos Terminals Market Application Type Outlook
- Standalone Terminals
- Cloud-Based Terminals
- Mobile Terminals
Healthcare Pos Terminals Market Operating System Outlook
- Android
- iOS
- Windows
- Linux
Healthcare Pos Terminals Market Security Features Outlook
- EMV Compliance
- PCI Compliance
- Tokenization
- Encryption
Healthcare Pos Terminals Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
13.27(USD Billion) |
| Market Size 2023 |
14.67(USD Billion) |
| Market Size 2032 |
36.4(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
10.62% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Diebold Nixdorf, Verifone Systems, Flex Retail Solutions, Atos SE, PAX Global Technology, First Datacorp, Lixian Group, NCR Corporation, Toshiba Global Commerce Solutions, Advantech Co. Ltd, Elavon Inc, Shenzhen Odec Electronics Co. Ltd, Ingenico Group |
| Segments Covered |
Payment Processor, Application Type, Operating System, Security Features, Regional |
| Key Market Opportunities |
Digitalization Telehealth integration Mobile healthcare Cloudbased platforms Data analytics |
| Key Market Dynamics |
Rise in home healthcare technological advancements government initiatives increasing adoption of cloud based solutions growing geriatric population |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Healthcare Pos Terminals Market was valued at USD 14.67 billion in 2023.
The Healthcare Pos Terminals Market is projected to reach USD 36.4 billion by 2032.
The Healthcare Pos Terminals Market is expected to grow at a CAGR of 10.62% from 2023 to 2032.
North America is expected to hold the largest market share in the Healthcare Pos Terminals Market in 2032.
The ambulatory surgical centers segment is expected to hold the largest market share in the Healthcare Pos Terminals Market in 2032.
Key competitors in the Healthcare Pos Terminals Market include Ingenico, Verifone, PAX Technology, and NCR Corporation.
Key growth drivers of the Healthcare Pos Terminals Market include the increasing adoption of electronic health records, the rising demand for patient-centered care, and the growing number of healthcare facilities.
Key challenges faced by the Healthcare Pos Terminals Market include the high cost of implementation, the lack of interoperability between different systems, and the security concerns associated with handling sensitive patient data.
Latest trends in the Healthcare Pos Terminals Market include the adoption of mobile POS terminals, the integration of AI and machine learning, and the growing popularity of cloud-based solutions.
AI and machine learning are expected to revolutionize the Healthcare Pos Terminals Market by enabling the development of more efficient and user-friendly systems.
