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Navigating the Future: Healthcare BPO Market Trends and Forecast Insights, 2025 Edition
Healthcare BPO Market
Healthcare BPO Market Size Growth Forecast: What to Expect by 2025?
The market size of healthcare bpo has seen robust growth in the past few years. The market is forecasted to expand from $336.81 billion in 2024 to $370.2 billion in 2025, experiencing a compound annual growth rate (CAGR) of 9.9%. This significant increase over the historical period is due to issues related to data security, the worldwide expansion of healthcare services, growth in healthcare industry, cost constraints in healthcare and modifications in healthcare regulations.
How Will the Healthcare BPO Market Size Evolve and Grow by 2029?
The size of the healthcare bpo market is predicted to witness swift expansion in the upcoming years, with an estimated worth of $641.18 billion in 2029 and a compound annual growth rate (CAGR) of 14.7%. Factors such as remote patient monitoring, demand for data analytics, integration of AI and automation, developments in revenue cycle management, and support for precision medicine all contribute to this growth in the forecast period. Key trends for the forecast phase encompass enhancing patient experience, telemedicine and remote healthcare, data security and compliance, managing population health, and revenue cycle management.
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What Drivers Are Propelling the Growth of Healthcare BPO Market Forward?
The surge in clinical process outsourcing, an administrative function in the healthcare industry that often involves or gains from clinical expertise, is a significant factor propelling the growth of the healthcare BPO market. This boost is attributable to a higher number of drugs commencing their clinical phases and companies reducing their workforce, prompting them to seek the assistance of Contract Research Organisations (CROs) to handle their portfolios. For example, in December 2023, ClinicalTrials.gov, an online resource managed by the US National Library of Medicine, reported that in 2022, out of a total of 437,515 registered clinical trials, 56,561 were successfully completed. The year 2023, as of December 20, witnessed further augmentation in both the registration and completion of clinical trials. Specifically, a total of 476,626 clinical trials had been registered, with 61,504 trials successfully completed. Therefore, it is anticipated that the quick expansion of clinical process outsourcing will continue to fuel the healthcare BPO market in the forthcoming years.
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Which Emerging Trends Are Transforming the Healthcare BPO Market in 2025?
Leading corporations in the healthcare BPO market are innovating with new cloud-based solutions to boost their market earnings. The application of such solutions in healthcare BPO streamlines data and application management, leveraging the power of cloud computing platforms via the internet. For example, Fujitsu Limited, an ICT company based in Japan, launched a state-of-the-art cloud-based platform in March 2023, aimed at transforming personalized healthcare and accelerating the progression of drug development. This platform builds on cloud technology to assemble health data from electronic medical records, wearable devices, and various other sources. The consolidated data helps improve healthcare procedures, polish clinical research methods, and streamline the drug development pipeline. Fujitsu foresees this breakthrough platform setting up a novel health and medical community that prioritises the holistic well-being of individuals.
What Are the Key Segments in the Healthcare BPO Market?
The healthcare bpomarket 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
Subsegments:
1) By Revenue Cycle Management (RCM): Medical Billing, Accounts Receivable Management, Claims Processing, Coding Services, Denial Management
2) By Patient Enrollment And Strategic Planning: Patient Registration Services, Eligibility Verification, Enrollment Services For Health Plans, Market Research And Strategic Consulting
3) By Patient Care: Telehealth Services, Care Management, Patient Support Services, Medical Transcription, Patient Engagement Solutions
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Who Are the Key Players Shaping the Healthcare BPO Market's Competitive Landscape?
Major companies operating in the healthcare BPO market include accenture*, Cognizant Technology Solutions, Infosys BPM, WNS Global Services, EXL Service, Tata Consultancy Services, Conduent Inc., HCL Technologies, Genpact, Omega Healthcare, Sutherland Global Services, GeBBS Healthcare Solutions, R1 RCM Inc., IBM Corporation, Allscripts Healthcare Solutions, NTT Data Services, UnitedHealth Group (Optum), TriZetto Healthcare Products, CitiusTech, MedData, Vee Technologies, Capgemini, HGS Healthcare, Flatworld Solutions, Invensis Technologies, Wipro, Tech Mahindra
What Geographic Markets Are Powering Growth in the Healthcare BPO Market?
North America was the largest region in the healthcare BPO market in 2024. 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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