Healthcare BPO Market - Global Industry Analysis

Healthcare BPO Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Healthcare Report Format : PDF Report Code: ZMR-6513 Status : Upcoming

Description

Global Healthcare BPO Market: Overview

Healthcare business process outsourcing is a system process that assists healthcare professionals to choose the most suitable third-party vendor for particular business operations. It will help hospitals and medical professionals spend their precious time enhancing and improving patient care facilities. It is an efficient solution that facilitates clients to select intelligent approaches that offer organizations immense support by enhancing productivity and lowering the cost pressures.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Global Healthcare BPO Market: Growth Factors

The rapid growth in clinical process outsourcing is one of the primary factors fueling the growth of the global healthcare BPO market. Business process outsourcing facilitates lower errors in non-critical functions, including customer care services, accounting, and financing. More people are looking for insurance and there is immense pressure on healthcare professionals to lower healthcare delivery expenditures. Intensive outsourcing services are required to deal with such queries. Moreover, pharmaceutical companies are struggling with patent drugs. Such an issue is creating immense pressure on healthcare service providers for reducing the risk of fraud and mitigating losses. Several services in the healthcare sector are outsourced so that they can be completed perfectly by skilled professionals. Furthermore, such activities will save on time and money, which can be further utilized in providing quality services to patients. The business processes outsourcing facilitate the healthcare sector to focus on their core competencies by contracting non-core activities to external parties. The surging demand for structured documentation and processes will further support the growth of the global healthcare BPO market. The emergence of advanced technologies like machine learning and artificial intelligence has simplified the process of drug discovery and made it more efficient. However, such developments will assist healthcare BPOs to bring prominent breakthroughs in the market as these advanced technologies play a vital role in the treatment of chronic diseases like cancer. Due to the higher capabilities of artificial intelligence, there is a significant reduction in the time taken to innovate cancer combating drugs, which in turn will provide ample thrust to the growth of the healthcare BPO services market. The outbreak of the Covid-19 pandemic has positively impacted the trajectory of the global market. The pandemic has compelled the organizations to outsource non-core operations, including claim management, revenue cycle management, patient management, and others to third-party vendors.

Global Healthcare BPO Market: Segmentation

The global healthcare BPO market can be segmented into life science services, payer services, and regions.

By life science services, the market can be segmented into non-clinical services, research & development, manufacturing and others. The non-clinical services segment can further be bifurcated into sales & marketing services, supply chain management & logistics, and other non-clinical services.

By payer services, the market can be segmented into HR services, billing & accounts management services, integrated front end & back-office operations, care management provider management, member management, product development, business acquisition, and claims management.

Global Healthcare BPO Market: Regional analysis

North America accounts for the largest share in the global healthcare BPO market due to the growing pressure on hospitals and medical clinics to lower the costs along with improving healthcare services in the region. Moreover, the updated government regulations will further boost the growth of the regional market. Furthermore, the patent expiration of several vital drugs is likely to positively impact the growth of the regional market in the forthcoming years.

Asia Pacific is expected to witness a significant growth rate in the forthcoming years due to the ongoing technological advancements in the field of healthcare. Moreover, the rapid proliferation of the healthcare sector in the region further possesses an urgent requirement for the outsourcing services.

Global Healthcare BPO Market: Competitive Players

Some of the significant players in the global healthcare BPO market are Healthcare BP, Indian Healthcare BPO, GeBBS Healthcare, PPD, Firstsource, PremierBPO, Sutherland, Genpact, Charles Rivers, Boehringer Ingelheim, Lonza, Parexel, Catalent, Inventiv, Accenture, Covance, Cognizant, HCL, and Quintiles.

Global Healthcare BPO Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

Table Of Content


Frequently Asked Questions

The rapid growth in clinical process outsourcing is one of the primary factors fueling the growth of the global healthcare BPO market. Business process outsourcing facilitates lower errors in non-critical functions, including customer care services, accounting, and financing. More people are looking for insurance and there is immense pressure on healthcare professionals to lower healthcare delivery expenditures. Intensive outsourcing services are required to deal with such queries.

Some of the significant players in the global healthcare BPO market are Healthcare BP, Indian Healthcare BPO, GeBBS Healthcare, PPD, Firstsource, PremierBPO, Sutherland, Genpact, Charles Rivers, Boehringer Ingelheim, Lonza, Parexel, Catalent, Inventiv, Accenture, Covance, Cognizant, HCL, and Quintiles.

North America accounts for the largest share in the global healthcare BPO market due to the growing pressure on hospitals and medical clinics to lower the costs along with improving health care services in the region. Moreover, the updated government regulations will further boost the growth of the regional market.

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