The global buy now pay later market is anticipated to grow at a considerable CAGR of 32.7% during the forecast period. Increasing treatment costs for various diseases and the rising chronic diseases such as chronic heart disease, cancer, cardiovascular diseases (CVDs), Parkinson's, kidney, and others are propelling the growth and demand for BNPL Market across the globe. These diseases require a huge amount of money for treatment, and most of the patients are not able to complete the treatment payment. Hence, the BNPL services are highly being used as it provides the convenience to pay for the treatment at a later period, in installments with no interest fee. According to the World Health Organization (WHO) data, around 17.9 million people died from CVDs in 2019, representing 32% of all global deaths. Of these deaths, 85% were due to heart attack and stroke.
Browse the full report description of “Buy Now Pay Later (BNPL) Market Size, Share & Trends Analysis Report by Channel (Online and Point of Sale (POS)), by Application (Retail Goods, Media & Entertainment, Healthcare & Wellness, Automotive, Home Improvement, and Others), and by Enterprise Size (Large Enterprises, and Small-Medium Enterprises) Forecast Period (2022-2028)” at https://www.omrglobal.com/industry-reports/buy-now-pay-later-bnpl-market
Furthermore, according to the American Association for Cancer Research (AACR) data 2020, cancer care costs in the US are projected to exceed $245 billion by 2030. Costs varied considerably by cancer site, with annualized cancer-attributable medical costs in this phase ranging from $71,300 for those with prostate cancer to $239,400 for patients with acute myeloid leukemia (AML). The cancer-attributable annualized average medical costs in the initial, continuing, and non-cancer end-of-life phases were $41,800, $5,300, and $23,500 per patient, respectively, because of high costs, many people with cancer and other diseases and those who have survived cancer experience financial hardship, including problems paying bills, depletion of savings, delaying or skipping needed medical care, and potential bankruptcy. These strong factors support the demand for buy now pay later services across the globe.
Rising health care expenditures are a burden for patients, and costs of cancer care and other diseases are fuelling the demand for BNPL payment methods, as it divides the costs in installments for the future without any interest fee. Hence, boosting the BNPL market during the forecast period.
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Channel
o By Application
o By Enterprise Size
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- including Affirm, Inc., Afterpay US Services, LLC, Klarna Inc., PayPal Payments Private Ltd., Splitit Ltd., and 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 players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Buy Now Pay Later (BNPL) Market Report Segment
By Channel
By Application
By Enterprise Size
Global Buy Now Pay Later (BNPL) Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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