openPR Logo
Press release

Healthcare BPO Market worth $468.5 billion by 2026 - Leading Key Players are Cognizant (US), Infosys BPM (India), IBM Corporation (US)

08-02-2021 12:05 PM CET | Health & Medicine

Press release from: MarketsandMarkets™ INC.

Healthcare BPO Market

Healthcare BPO Market

According to the new market research report "Healthcare BPO Market by Outsourcing Models, Provider (Patient Care, RCM), Payer (Claims Management, Billing & Accounts), Life Science (R&D, Manufacturing, Sales & Marketing (Analytics, Research)), & Region (Source, Destination) – Global Forecasts to 2026", published by MarketsandMarkets™, the global market is projected to reach USD 468.5 billion by 2026 from an estimated USD 296.4 billion in 2021, at a CAGR of 9.6%.

Browse in-depth TOC on "Healthcare BPO Market"
334 – Tables
43 – Figures
309 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=472&utm_source=openpr&utm_medium=referral&utm_campaign=paidpr

Growth in this market is primarily driven by the need to reduce rising healthcare costs and the implementation of the Patient Protection and Affordable Care Act (PPACA) are compelling payers and providers to outsource their business processes to low-cost countries in order to reduce their operational costs.

The major source geographies that primarily outsource most of their non-core activities to third parties include North America, Europe, and Rest of the World.

The COVID-19 pandemic has had a significant impact on the world's population and economy. As a result of the pandemic, healthcare facilities are facing immense pressure to create a well-coordinated environment where all clinical functions are connected internally and where the organization operates in coordination with other healthcare units. This is compelling healthcare organizations to outsource their non-core functions, including revenue cycle management, claims management, and patient engagement, among other functions, to third parties and focus on their core competencies for better patient outcomes.

Revenue cycle management services to register the highest growth in the Healthcare BPO market

Based on type, the market is segmented into revenue cycle management, patient enrollment, and patient care. The revenue cycle management services segment is expected to account for the largest share of 70.8% of the market in 2021. The declining trend in reimbursements in the healthcare industry, reductions in overall healthcare costs, initiatives undertaken by governments for implementing revenue cycle management solutions and increasing expenditure by the healthcare IT industry are the key factors driving the growth of the revenue cycle management services market.

Manufacturing services to account for the largest segment in the Healthcare BPO market

Based on type, the market is segmented into manufacturing, R&D, and non-clinical services. The manufacturing services segment is expected to account for the largest share of 55.6% of the Healthcare BPO Market in 2021. This can be attributed to the constantly changing regulations on testing and clinical trials, the need to reduce overall operational costs and increasing focus on accelerating the drug development process while maintaining high levels of safety and control.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=472&utm_source=openpr&utm_medium=referral&utm_campaign=paidpr

North American healthcare BPO market to register the largest and highest growth from 2021 to 2026

North America dominated the market, with a share of 48.6% in 2020, and is expected to register the highest CAGR of 10.6% during the forecast period. The large share of the North American market can be attributed to the increased pressure to reduce healthcare costs and improve services and changing government regulations in the healthcare industry. Growing need for costs curtailment and process efficiencies among pharmaceutical companies is further expected to boost the market growth in coming years.

Some of the prominent players operating in the Healthcare BPO market are Cognizant (US), Tata Consultancy Services (India), Xerox Corporation (US), WNS (Holdings) Limited (India), NTT Data Corporation (Japan), IQVIA (US), Mphasis (India), Genpact (US), Wipro (India), Infosys BPM (India), Firstsource Solutions (India), IBM Corporation (US), HCL Technologies (India), Sutherland Global (US), GeBBS Healthcare Solutions (US), Lonza (Switzerland), Omega Healthcare (India), R1 RCM (US), Invensis Technologies (India), UnitedHealth Group (US), Sykes Enterprises (US), Parexel International (US), Access Healthcare (US), and Akurate Management Solutions (US), among others

Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=472&utm_source=openpr&utm_medium=referral&utm_campaign=paidpr

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Healthcare BPO Market worth $468.5 billion by 2026 - Leading Key Players are Cognizant (US), Infosys BPM (India), IBM Corporation (US) here

News-ID: 2343311 • Views: 704

More Releases from MarketsandMarkets™ INC.

Temperature Management Systems Market worth $3.3 billion by 2026 - Leading Key P …
According to the new market research report "Temperature Management Systems Market by Product (Warming Systems (Surface Warming), Cooling Systems), Application (Perioperative Care, Acute Care, Newborn Care), Medical Speciality (Cardiology, Neurology, Paediatrics, Orthopaedic) – Global Forecast to 2026", published by MarketsandMarkets™, is projected to reach USD 3.3 billion by 2026 from USD 2.7 billion in 2021, at a CAGR of 3.6% during the forecast period. Browse in-depth TOC on "Temperature Management Systems
Animal Genetics Market Growing at a CAGR of 7.1% – Increasing Consumption of A …
According to the new market research report "Animal Genetics Market by Products & Services (Live Animals (Poultry, Porcine, Bovine, Canine) Genetic Material (Semen (Bovine, Porcine), Embryo (Bovine, Equine)) Genetic Testing (DNA Testing, DNA Typing, Genetic Traits Testing)) – Global Forecast to 2026?, published by MarketsandMarkets™, the Animal Genetic Products Market is projected to reach USD 7.7 billion by 2026 from USD 5.5 billion in 2021, at a CAGR of 7.1%
Automotive Smart Display Market – Analysis with Ongoing Trends & Market Revenu …
The Automotive Smart Display Market is estimated to be worth USD 7.2 billion in 2020 and is projected to reach USD 10.9 billion by 2025, at a CAGR of 8.8% during the forecast period. The market is driven by increased customer awareness about road and vehicle safety, demand for improved consumer experience in vehicles, and high growth in the luxury and high-end cars segments, mainly in the emerging markets. Automotive
Rehabilitation Equipment Market Growing at a CAGR of 5.2% – Global Forecast an …
According to the new market research report "Rehabilitation Equipment Market by Product (Mobility, Cane, Crutches, Walker, Body Support, Lift, Beds, Sling, Exercise, Therapy, Reading, Writing), Application (Physical, OT, Strength) End User (Physiotherapy, Hospital, Clinic) – Global Forecast to 2025?, published by MarketsandMarkets™, the Rehab Equipment Market is projected to reach USD 16.6 billion by 2025 from USD 12.9 billion in 2020, at a CAGR of 5.2%. Market Size Estimation; Both top-down and

All 5 Releases


More Releases for Healthcare

Healthcare Staffing Market Crucial Players - Jackson Healthcare, Aya Healthcare, …
Global "Healthcare Staffing Market" is a comprehensive research that provides information regarding Healthcare Staffing market size, trends, growth, cost structure, capacity, revenue and forecast 2026. This report also includes the overall study of the Healthcare Staffing Market share with all its aspects influencing the growth of the market. This report is exhaustive quantitative analyses of the Healthcare Staffing industry and provides data for making strategies to increase Healthcare Staffing market
Healthcare Analytics Market
Healthcare Analytics Market – Global Industry Analysis and Forecast (2017-2026) _ by Type, Component, Delivery Mode, Application, End-user and by Geography Healthcare Analytics Market is expected to reach USD 42.4 Billion by 2024 from USD 7.1 Billion in 2016 at a CAGR of 29.1%. This is a comprehensive global report focused on the current and future prospects of the Healthcare Analytics Market. This report is a consolidation of primary and secondary
Global Healthcare IT Market
Global Healthcare IT Market – Industry Analysis and Forecast (2017-2026) – by Product & Services, by Component, by End User and by Geography. Global Healthcare IT Market was valued US$ 148.3 Bn in 2017 and is expected to reach USD 498.2 Bn by 2026, at CAGR of 16.35% during forecast period. Healthcare IT stands for solutions offered by information technology in the healthcare industry. Healthcare IT solutions improve data management and safe
Global Healthcare Information Systems Market By Key Players: Philips healthcare, …
Qyresearchreports include new market research report Global Healthcare Information Systems Market Size, Status and Forecast 2025 to its huge collection of research reports. This report studies the global Healthcare Information Systems market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the global Healthcare Information Systems market by companies, region, type and end-use industry. Healthcare information technology proffers solutions for security and data management of information related
Healthcare Cloud Computing Market -
Healthcare Cloud Computing is a broad, proactive endpoint security solution designed to supplement the existing defenses. It is a cyber-security technology that informs the need for constant monitoring and response to advanced threats. This advanced system measure shifts of security from a reactive threat approach to one that can detect and prevent threats before they even reach the organization. Growing cases of enterprise endpoint targeted attacks and necessity to mitigate it
Digital Radiography – Digitizing Healthcare
Increasing health consciousness and growing awareness about the same are leading to higher footfalls in diagnostic laboratories. This is contributing towards overall growth of diagnostics market. Furthermore, digitization in healthcare sector is easing patient diagnosis, providing accurate and faster test results. X-ray being the most conventional and effective diagnostic tool, digitization in the X-ray system has gained a strong foothold in diagnostic laboratories across the globe. Also, with more research