Hospital Outsourcing Global Market Report 2024 Market Outlook Report 2024-2033 | Size, Trends, Analysis, Insights, Overview

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Hospital Outsourcing Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $730.99 billion In 2028 At A CAGR Of 13.7% :

The hospital outsourcing market size has grown rapidly in recent years. It will grow from $382.76 billion in 2023 to $437.94 billion in 2024 at a compound annual growth rate (CAGR) of 14.4%. The growth in the historic period can be attributed to cost containment, focus on core competencies, regulatory compliance, globalization, risk mitigation, quality improvement.

The hospital outsourcing market size is expected to see rapid growth in the next few years. It will grow to $730.99 billion in 2028 at a compound annual growth rate (CAGR) of 13.7%. The growth in the forecast period can be attributed to patient-centric services, increased complexity in healthcare services, flexibility and scalability, cybersecurity concerns, population health management. Major trends in the forecast period include technological advancements, digital transformation, rise of business process outsourcing (BPO) in healthcare, growing adoption of IT outsourcing, focus on revenue cycle management outsourcing.

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Hospital Outsourcing Market Major Segments
The hospital outsourcing market covered in this report is segmented -

1) By Hospital Type: Private, Public
2) By Hospital Size: Small and Medium Hospitals, Large Hospitals
3) By Services: Healthcare IT, Clinical Services, Business Services, Transportation Services, Other Services
4) By End-Users: Nursing Homes and Assisted Living, Specialty Hospitals, General Medical and Surgical Hospitals, Emergency and Other Outpatient Care Centers, Other End Users

Key Driver - Hospital Outsourcing Market Surges With Diabetic Cases

The increase in diabetic patient flow in hospitals is expected to propel the growth of the hospital outsourcing market going forward. Hospitals opt for outsourcing services when there is an increase in patients and the hospital infrastructure is not capable of handling a large number of patients. This is a result of the rise in chronic illnesses, including diabetes, cardiovascular disease, and others, which are increasing the number of patients being admitted to hospitals and, eventually, placing greater pressure on medical procedures. For instance, according to the International Diabetics Federation (IDF) report, a Belgium-based diabetic organization, in the year 2021, approximately 537 million adults in-between the age group 20-79 years were living with diabetes and it is estimated to rise to 643 million by 2030 and 783 million by 2045. Therefore, the increase in diabetic patient flow in hospitals is driving the growth of the hospital outsourcing market.

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Prominent Trend - Transforming Hospital Revenue Cycles With Advanced Technologies

Major companies operating in the hospital outsourcing market are developing advanced technologies, such as digital platforms, to improve revenue cycle outcomes, thereby increasing their profitability in the market. A digital platform is a technology-enabled solution designed to streamline and optimize various administrative and financial functions within healthcare organizations. For instance, in October 2023, Omega Healthcare, a US-based healthcare services company, launched the Omega Digital Platform. The platform employs AI, RPA, ML, bots, and NLP. Omega Healthcare's solutions enhance efficiency in revenue cycle tasks, minimizing human intervention and reallocating resources. The goal is to achieve outcomes such as lowering coding costs with over 95% accuracy and reducing accounts receivable days, ultimately optimizing revenue for providers, payers, pharma, and clinical research organizations. Omega's proprietary technology and analytics aim to boost efficiencies, cut costs, expedite cash flow, and enhance financial outcomes.

Hospital Outsourcing Market Players
Major companies operating in the hospital outsourcing market report are Johnson & Johnson, Abbott Laboratories, MMM Group, 3M Company, Sodexo S.A., Becton Dickinson and Company, Aramark Corporation, ABM Industries Incorporated, Miele Group, Fortive Corporation, Cerner Corporation, Steris Plc, bioMérieux S.A., Getinge AB, AllScripts Healthcare Solutions Inc., LogistiCare Solutions LLC, Alere Inc., Ansell Limited, Cantel Medical, Sotera Health LLC, TriMedx LLC, Halyard Health Inc., Metall Zug AG, Tri Source International Inc., Sterigenics International LLC, Belimed AG, The Allure Group, Flatworld Solutions, Matachana Group, Integrated Medical Transport Inc., Honeywell International Inc., Pal International Ltd., PDI Inc., Reckitt Benckiser Group plc, Schülke & Mayr GmbH

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Largest And Fastest Growing Region In The Market
North America was the largest region in the hospital outsourcing market in 2023. The regions covered in the hospital outsourcing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Hospital Outsourcing Market Report Structure
3. Hospital Outsourcing Market Trends And Strategies
4. Hospital Outsourcing Market - Macro Economic Scenario
5. Hospital Outsourcing Market Size And Growth
…..
27. Hospital Outsourcing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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