Healthcare BPO Market

Healthcare BPO Market worth $312.4 billion in 2022

In 2017, the global Healthcare BPO Market was valued at USD 191.6 billion. This market is expected to grow at a CAGR of 10.2% to reach USD 312.4 billion in 2022. The increasing cost of healthcare and the implementation of the Patient Protection and Affordable Care Act (PPACA) in the US have compelled payers and providers to outsource their business processes to low-cost countries. Pharmaceutical companies are focusing on outsourcing aspects of their operations due to patent cliffs, complex clinical trial protocols, and new reporting requirements.

Browse 156 market data Tables and 34 Figures spread through 201 Pages and in-depth TOC on "Healthcare BPO Market by Outsourcing Approaches, Pharmaceutical (R&D, Manufacturing, Sales and Marketing Services (Performance Reporting, Forecasting)), Provider (Patient Care, RCM), Payer (Claims Repricing), Models (Multisourcing) - Global Forecasts to 2022"

View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/healthcare-outsourcing-bpo-market-472.html

Pharmaceutical services held the largest market share in 2017

The market, by type of service, is divided into pharmaceutical, payer, and provider services. Of these, the pharmaceutical services segment commanded the largest market share in 2017. The increasing costs of R&D and product approvals, low productivity, weak product pipelines, and the pressure to save costs have all contributed to the prospects of the pharmaceutical outsourcing services market.

The revenue cycle management segment is expected to grow at the highest CAGR during the forecast period

Based on provider service, the healthcare BPO market is classified into revenue cycle management, patient enrollment, and patient care. Revenue cycle management (RCM) is expected to register the highest growth in the forecast period of 2017–2022. Decreasing reimbursements in the healthcare industry, the advantages of outsourcing RCM processes, and the need for reducing costs are all driving growth in this market segment.

The US was the largest market in the healthcare BPO market, by source geography

The regional segments of the healthcare BPO market are categorized into source geographies and destination geographies. The US—where outsourcing is garnering attention due to the rising healthcare expenditure, among other factors—is the largest segment in the source geographies market, followed by Europe. In terms of destination geographies, India is the leading regional segment of the market.

Accenture (Ireland), Cognizant (US), Firstsource Solutions (India), GeBBS Healthcare Solutions (US), Genpact (Bermuda), IBM Corporation (US), Infosys (India), Lonza (Switzerland), Omega Healthcare (India), and Quintiles IMS (US) are some of the leading players in the healthcare BPO market.

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Report Code
HIT 2168
PR Published ON
7/26/2019
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