Healthcare BPO Market is Expected to grow at a CAGR of 10.2% from 2017 to 2022 | to reach USD 312.43 billion by 2022

To identify the scope of Global Healthcare BPO Market 2020, this report is prepared by in-depth analysis of historical data. The report forecasts the market size by the end of 2025 at an impressive CAGR provided by Reports and Reports. The report offers detailed outline of Global Healthcare BPO Market and vital market trends. The prime agenda of this report is to provide a detailed analysis of the global, regional and country-level market size, market growth, market status, forecast, sales analysis, value chain optimization, trade regulations, recent developments, opportunities analysis, and importance of the global and national market players, competitive environment, expansion, acquisition, partnerships and technological innovations. The prime market segments considered to prepare this report are key players, regional segments, type and application. 

"The healthcare BPO market is projected to grow at a CAGR of 10.2%."

The healthcare BPO market is expected to grow at a CAGR of 10.2% from2017 to 2022, to reach USD 312.43 billion by 2022 from USD 191.68 billion in 2017. The need to reduce the rising healthcare costs and the implementation of the Patient Protection and Affordable Care Act (PPACA) are factors that compel payers and providers to outsource their business processes to low-cost countries in order to reduce operational costs. Patent cliffs, complex clinical trial protocols, and new reporting requirements are forcing pharmaceutical companies to outsource their R&D and manufacturing processes to other countries, which is driving the healthcare outsourcing market. On the other hand, the fear of losing visibility & control over business processes and reliability and data security & privacy concerns are the major factors expected to restrain market growth.

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"The revenue cycle management segment is expected to grow at the highest CAGR."

On the basis of provider service, the healthcare BPO market is segmented into revenue cycle management, patient enrollment, and patient care. In 2017, the revenue cycle management segment is expected to account for the largest share of the global healthcare BPO market. Growth in the revenue cycle management market can largely be attributed to factors such as decreasing reimbursements in the healthcare industry, reductions in the overall healthcare costs, initiatives undertaken by governments for implementing RCM solutions, and increasing expenditure by the healthcare IT industry.

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"The manufacturing services segment is expected to account for the largest share in 2017."

On the basis of pharmaceutical services, the market is classified into manufacturing services, R&D services, and non-clinical services. In 2017, the manufacturing services segmentis expected to account for the largest share of the market. The rising demand for new drugs and cost advantages of outsourcing are the key factors driving the growth of this segment.

"The US is expected to account for the largest share during the forecast period as a source region."

By source geography, the US is expected to account for the largest share, followed by Europe, and RoW. It is the prime source for the outsourcing of healthcare services due to the mandatory implementation of ICD-10 codes and enactment of PPACA. The US also ranks high as a preferred location in cases where location and skill are more important than cost savings.

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Break-up profile of primaries:

By Company Type- Tier 1-40%, Tier 2-35% and Tier 3-25%
By Designation-C-level-33%, D-level-41% and Others-26%
By Region-North America-35%, Europe-30%, Asia-21%,and RoW-14%

The key players in the healthcare BPO market are Cognizant (US), Accenture(Ireland), Xerox(US), Genpact (Bermuda), TCS (India), and Infosys (India).

Research Coverage:

The healthcare BPO market in this report is segmented by payer services, provider services, pharmaceutical services, and region. The study tracks and analyzes competitive developments such as product launches, agreements, partnerships, and acquisitions, and profiles key players and core competencies in the healthcare BPO market.

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