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Global Healthcare BPO Market Business Strategies, Current Insights, Regional Developments, Demand and Forecast to 2032
Healthcare BPO Global Market
The Business Research Company's Healthcare BPO Global Market Report 2023 identifies rapid increase of clinical process outsourcing is significantly as the major driver for the Healthcare BPO market's growth in the forecast period. The increase in the increase of clinical trials outsourcing is due to the rise in a number of drugs entering clinical phases and the companies that are slashing their workforce look for CROs to help them manage their portfolios. For instance, in April 2021, Parexel (an American healthcare outsourcing provider) and Veeva Systems (a cloud-computing company focusing on pharmaceutical and life sciences industry applications) announced a strategic partnership to accelerate clinical trials by advancing technology and processes. Based on feedback from sponsors, sites, and patients, the companies will collaborate to improve Veeva's cloud technology and Parexel's clinical trial delivery processes. Hence, the rapid increase of clinical process outsourcing is expected to drive the healthcare BPO market in the upcoming years.
The global healthcare BPO market size grew from $276.59 billion in 2022 to $309.6 billion in 2023 at a compound annual growth rate (CAGR) of 11.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The healthcare BPO market size is expected to grow to $490.84 billion in 2027 at a CAGR of 12.2%.
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Major competitors in the Healthcare BPO market are Cognizant, Tata Consultancy Services, Genpact, HCL Business Services, IQVIA, IBM Corporation, GeBBS Healthcare Solutions.
A key trend in the Healthcare BPO market includes Technological advancement. The key players in the healthcare BPO market are focusing on innovating the outsourced services and expanding their scope of application to gain their market position.
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The Healthcare BPO market 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
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Healthcare BPO market.
The Business Research Company's "Global Healthcare BPO Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Healthcare BPO Market Include:
1. Executive Summary
2. Healthcare BPO market Characteristics
3. Healthcare BPO market Trends And Strategies
4. Healthcare BPO Market - Macro Economic Scenario
5. Healthcare BPO market Size And Growth
……
27. Healthcare BPO market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Healthcare BPO market
29. Healthcare BPO market Future Outlook and Potential Analysis
30. Appendix
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