Overview and Scope
Healthcare BPO refers to the activities where the healthcare organization contracts its certain business functions to an external service provider. Healthcare BPO includes the practice of healthcare organizations outsourcing non-core business activities to outside vendors.
Sizing and Forecast
The healthcare bpo market size has grown rapidly in recent years. It will grow from $308.43 billion in 2023 to $344.4 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth in the historic period can be attributed to data security concerns, globalization of healthcare services, healthcare industry growth, cost pressures in healthcare, regulatory changes in healthcare.
The healthcare bpo market size is expected to see rapid growth in the next few years. It will grow to $560.2 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The growth in the forecast period can be attributed to remote patient monitoring, demand for data analytics, AI and automation integration, evolving revenue cycle management, precision medicine support. Major trends in the forecast period include patient experience enhancement, telemedicine and remote healthcare, data security and compliance, population health management, revenue cycle management.
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Segmentation & Regional Insights
The healthcare BPO market covered in this report is segmented –
1) By Provider Service: Revenue Cycle Management, Patient Enrollment And Strategic Planning, Patient Care
2) By Payer Service: Human Resource Management, Claims Management, Customer Relationship Management (CRM), Operational/Administrative Management, Care Management, Provider Management, Other Payer Services
3) By Pharmaceutical Service: Research And Development, Manufacturing, Non-clinical Service
North America was the largest region in the healthcare BPO market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare bpo market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rapid increase of clinical process outsourcing is significantly driving the growth of the healthcare BPO market. Clinical process outsourcing is administrative work in the healthcare industry that requires or benefits from clinical expertise. The increase in the increase of clinical trials outsourcing is due to the rise in several drugs entering clinical phases and the companies that are slashing their workforce look for CROs to help them manage their portfolios. For instance, in December 2023, according to ClinicalTrials.gov, a US-based web-based resource maintained by the US National Library of Medicine, providing information on clinical trials in the year 2022, a total of 437,515 clinical trials were registered, and among them, 56,561 were successfully completed. Moving into 2023, as of December 20, there has been an increase in both registration and completion figures. Specifically, 476,626 clinical trials have been registered, with 61,504 trials already completed. Hence, the rapid increase of clinical process outsourcing is expected to drive the healthcare BPO market in the upcoming years.
Key Industry Players
Major companies operating in the healthcare bpo market report are Google LLC, General Electric Company, SAP SE, THALES Group Inc., Harris Corporation, Hexagon AB (publ), Trimble Inc., Fugro N.V., Maxar Technologies Ltd., Environmental Systems Research Institute Inc. (ESRI), Bentley Systems Incorporated, Alteryx Inc., MDA Ltd., TomTom International BV, Skydweller Aero Inc., PASCO scientific, CartoDB S.L., SkyMap Global Inc., Descartes Labs Inc., Orbital Insight Inc., Mandalay Technology Inc., Intermap Technologies Corporation, MapLarge Corporation, Orbica Ltd., Geosite Corporation, Advanced Risk Analytics Private Limited, Geoviet Consulting Inc., GIS Co. Ltd., MapPoint Asia Pacific Pte. Ltd., TravelMap SAS
The healthcare bpo market report table of contents includes:
- Executive Summary
- Healthcare BPO Market Characteristics
- Healthcare BPO Market Trends And Strategies
- Healthcare BPO Market – Macro Economic Scenario
- Global Healthcare BPO Market Size and Growth
- Healthcare BPO Market Segmentation
- Healthcare BPO Market Regional And Country Analysis
………….
- Key Mergers And Acquisitions In The Healthcare BPO Market
- Healthcare BPO Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Healthcare BPO Market, Segmentation By Provider Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Healthcare BPO Market, Segmentation By Payer Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Healthcare BPO Market, Segmentation By Pharmaceutical Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: Google LLC Financial Performance
Table 75: General Electric Company Financial Performance
Table 76: SAP SE Financial Performance
Table 77: THALES Group Inc. Financial Performance
Table 78: Harris Corporation Financial Performance
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