Healthcare BPO Market Analysis by Service Type (Payer Services, Provider Services, Pharmaceutical Services), By Deployment Mode (Cloud-based, On-premise), By Outsourcing Approach (Offshore Outsourcing, Nearshore Outsourcing, Onshore Outsourcing), By Application Administration (Finance and Accounts, Human Resources, Logistics, Procurement) and by Region: Global Forecast, 2024 - 2034.
- PUBLISHED ON
- 2024-06-12
- NO OF PAGES
- 267
- CATEGORY
- Healthcare & Life Sciences
Market Overview
The Healthcare BPO market is predicted to
develop at a compound annual growth rate (CAGR) of 9.3%from 2024 to 2034, when it
is projected to reach USD 1029.54 Billion, based on an average growth pattern.
The market is estimated to reach a value of USD 423.10 Billion in 2024.
SOURCE: We Market Research
Healthcare
Business Process Outsourcing (BPO) entails outsourcing healthcare-related
administrative duties to third-party vendors. Medical billing and coding,
claims processing, patient scheduling, data entry, medical transcribing,
revenue cycle management, customer assistance, and information technology
services are all critical sectors. Outsourcing these non-core operations allows
healthcare providers to cut costs, increase efficiency, and focus more on
patient care. Access to specialised expertise, simpler operations, and improved
service quality are some of the benefits. This strategy enables healthcare
organisations to more effectively manage administrative responsibilities,
assuring accurate and timely processing of medical data and claims, resulting in
improved financial and operational performance.
The Global
Healthcare BPO market is driven by the desire for cost savings, which allows
healthcare organisations to concentrate on core capabilities and improve
patient care. Regulatory compliance and improvements in artificial intelligence
and automation improve operational efficiency. Scalability, as well as improved
data management and security, help to drive demand. The ageing population,
healthcare reforms, and the globalisation of healthcare services all contribute
to market growth. Outsourcing administrative duties enables healthcare
professionals to manage rising workloads, adhere to complex laws, and commit
more resources to patient care, resulting in greater outcomes and patient
satisfaction.
Market Scope
|
Report Attributes |
Description |
|
Market Size in 2024 |
USD 423.10 Billion |
|
Market Forecast in 2034 |
USD 1029.54 Billion |
|
CAGR % 2024-2034 |
20.3% |
|
Base Year |
2023 |
|
Historic Data |
2016-2022 |
|
Forecast Period |
2024-2034 |
|
Report USP
|
Production, Consumption, company share, company
heatmap, company production capacity, growth factors and more |
|
Segments Covered |
By Service Type, By Deployment Mode, By Outsourcing Approach, By
Application and By Region |
|
Regional Scope |
North America, Europe, APAC, South America and
Middle East and Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic
Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia;
Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa;
Nigeria |
Healthcare BPO Industry: Dynamics & Restrains
Market opportunity:
We Market
Research: Healthcare BPO Dashboard
Our marketing platform offers a comprehensive dashboard that provides clients with valuable insights into market trends over the years. Included below is a sample image of our dashboard, and specific PDF logins will be furnished to grant access to this insightful tool.
Healthcare BPO Segmentation
Market- By Service Type Analysis
By Service Type, the Healthcare BPO Market is Categories into Payer Services, Provider Services, Pharmaceutical Services. The Payer Services segment accounts for the largest share of around 51% in 2024.
The driver for the payer services segment
in the global healthcare BPO market includes the increasing demand for cost
efficiency, regulatory compliance, and improved claim processing. Outsourcing
these services helps payers manage administrative tasks and enhance operational
efficiency.
The
following segments are part of an in-depth analysis of the global Healthcare
BPO market:
|
Market Segments |
|
|
By Deployment Model |
·
Cloud-based ·
On-premise |
|
By Outsourcing
Approach |
·
Offshore Outsourcing ·
Nearshore Outsourcing ·
Onshore Outsourcing |
|
By Application |
·
Administration ·
Finance and Accounts ·
Human Resources ·
Logistics ·
Procurement |
Healthcare BPO Industry: Regional Analysis
North America Market Forecast
North America dominate the Healthcare BPO Market with the highest revenue generating market with share of more than 47%. North America is the largest market for Healthcare BPO services, driven by a well-established healthcare infrastructure, high healthcare expenditure, and the presence of major BPO service providers.
Europe Market Statistics
Europe's Healthcare
BPO market is the second largest market. Europe is fueled by aging populations,
rising healthcare costs, and the need for operational efficiency, combined with
strict data protection regulations (GDPR) and a push for innovative
technologies to enhance healthcare services.
Asia Pacific Market Forecasts
Asia Pacific is
expected to be the fastest-growing regional segment of the Healthcare BPO
market during the forecast period. In the Asia Pacific region, growth is driven
by cost advantages, a large skilled workforce, expanding healthcare
infrastructure, and increasing demand for healthcare services, supported by
rapid economic development and improving healthcare standards.
Key Market Players
The Healthcare BPO Market is dominated by a few large
companies, such as
·
Accenture
·
Infosys BPM
·
Genpact
·
Omega Healthcare
·
IQVIA
·
HCL Technologies
·
GeBBS Healthcare Solutions
·
IBM
·
Parexel International
·
Tata Consultancy Services
·
Paraxel
· Others
1.
Global
Healthcare BPO Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Global Healthcare BPO Market
Scope and Market Estimation
1.2.1.Global Healthcare BPO Overall
Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023 - 2034)
1.2.2.Global Healthcare BPO Market
Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2034
1.3. Market Segmentation
1.3.1.Service Type of Global Healthcare
BPO Market
1.3.2.Deployment Model of Global Healthcare
BPO Market
1.3.3.Outsourcing Approach of Global Healthcare
BPO Market
1.3.4.Application of Global Healthcare
BPO Market
1.3.5.Region of Global Healthcare BPO
Market
2.
Executive Summary
2.1. Market Dynamics
2.1.1.Drivers
2.1.2.Limitations
2.1.3.Opportunities
2.1.4.Impact Analysis of Drivers and
Restraints
2.2. Pricing Trends Analysis &
Average Selling Prices (ASPs)
2.3. Key Mergers & Acquisitions,
Expansions, JVs, Funding / VCs, etc.
2.4. Porter’s Five Forces Analysis
2.4.1.Bargaining Power of Suppliers
2.4.2.Bargaining Power of Buyers
2.4.3.Threat of Substitutes
2.4.4.Threat of New Entrants
2.4.5.Competitive Rivalry
2.5. Market Investment Opportunity
Analysis (Top Investment Pockets), By Segments & By Region
3.
Global Healthcare BPO Market Estimates & Historical Trend Analysis (2019 -
2023)
4.
Global Healthcare BPO Market Estimates & Forecast Trend Analysis, by
Service Type
4.1. Global Healthcare BPO Market
Revenue (US$ Mn) Estimates and Forecasts, by Service Type, 2019 to 2034
4.1.1.Payer Services
4.1.2.Provider Services
4.1.3.Pharmaceutical Services
5.
Global Healthcare BPO Market Estimates & Forecast Trend Analysis, by
Deployment Model
5.1. Global Healthcare BPO Market
Revenue (US$ Mn) Estimates and Forecasts, by Deployment Model, 2019 to 2034
5.1.1.Cloud-based
5.1.2.On-premise
6.
Global Healthcare BPO Market Estimates & Forecast Trend Analysis, by
Outsourcing Approach
6.1. Global Healthcare BPO Market
Revenue (US$ Mn) Estimates and Forecasts, by Outsourcing Approach,
2019 to 2034
6.1.1.Offshore Outsourcing
6.1.2.Nearshore Outsourcing
6.1.3.Onshore Outsourcing
7.
Global Healthcare BPO Market Estimates & Forecast Trend Analysis, by
Application
7.1. Global Healthcare BPO Market
Revenue (US$ Mn) Estimates and Forecasts, by Application,
2019 to 2034
7.1.1.Administration
7.1.2.Finance and Accounts
7.1.3.Human Resources
7.1.4.Logistics
7.1.5.Procurement
8.
Global Healthcare BPO Market Estimates & Forecast Trend Analysis,
by Region
8.1. Global Healthcare BPO Market
Revenue (US$ Mn) Estimates and Forecasts, by Region, 2019 to 2034
8.1.1.North America
8.1.2.Europe
8.1.3.Asia Pacific
8.1.4.Middle East & Africa
8.1.5.South America
9.
North
America Healthcare BPO Market: Estimates & Forecast Trend Analysis
9.1.
North
America Healthcare BPO Market Assessments & Key Findings
9.1.1.North America Healthcare BPO
Market Introduction
9.1.2.North America Healthcare BPO
Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
9.1.2.1. By Service Type
9.1.2.2. By Deployment Model
9.1.2.3. By Outsourcing
Approach
9.1.2.4. By Application
9.1.2.5. By Country
9.1.2.5.1. The U.S.
9.1.2.5.2. Canada
9.1.2.5.3. Mexico
10. Europe Healthcare
BPO Market: Estimates & Forecast
Trend Analysis
10.1. Europe Healthcare BPO Market
Assessments & Key Findings
10.1.1. Europe Healthcare BPO Market
Introduction
10.1.2. Europe Healthcare BPO Market
Size Estimates and Forecast (US$ Million) (2019 – 2034)
10.1.2.1. By Service Type
10.1.2.2. By Deployment Model
10.1.2.3. By Outsourcing
Approach
10.1.2.4. By Application
10.1.2.5. By Country
10.1.2.5.1. Germany
10.1.2.5.2. U.K.
10.1.2.5.3. France
10.1.2.5.4. Italy
10.1.2.5.5. Spain
10.1.2.5.6. Russia
10.1.2.5.7. Rest of Europe
11. Asia Pacific Healthcare
BPO Market: Estimates & Forecast
Trend Analysis
11.1. Asia Pacific Market Assessments
& Key Findings
11.1.1. Asia Pacific Healthcare BPO
Market Introduction
11.1.2. Asia Pacific Healthcare BPO
Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
11.1.2.1. By Service Type
11.1.2.2. By Deployment Model
11.1.2.3. By Outsourcing
Approach
11.1.2.4. By Application
11.1.2.5. By Country
11.1.2.5.1. China
11.1.2.5.2. Japan
11.1.2.5.3. India
11.1.2.5.4. Australia
11.1.2.5.5. South Korea
11.1.2.5.6. ASEAN
11.1.2.5.7. Rest of Asia Pacific
12. Middle East & Africa Healthcare
BPO Market: Estimates & Forecast
Trend Analysis
12.1. Middle East & Africa Market
Assessments & Key Findings
12.1.1. Middle
East & Africa Healthcare
BPO Market Introduction
12.1.2. Middle
East & Africa Healthcare
BPO Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
12.1.2.1. By Service Type
12.1.2.2. By Deployment Model
12.1.2.3. By Outsourcing
Approach
12.1.2.4. By Application
12.1.2.5. By Country
12.1.2.5.1. U.A.E.
12.1.2.5.2. Saudi Arabia
12.1.2.5.3. Egypt
12.1.2.5.4. South Africa
12.1.2.5.5. Rest of Middle East & Africa
13. South America
Healthcare BPO Market: Estimates &
Forecast Trend Analysis
13.1. South America Market Assessments
& Key Findings
13.1.1. South America Healthcare BPO
Market Introduction
13.1.2. South America Healthcare BPO
Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
13.1.2.1. By Service Type
13.1.2.2. By Deployment Model
13.1.2.3. By Outsourcing
Approach
13.1.2.4. By Application
13.1.2.5. By Country
13.1.2.5.1. Brazil
13.1.2.5.2. Argentina
13.1.2.5.3. Colombia
13.1.2.5.4. Rest of South America
14. Competition Landscape
14.1. Global Healthcare BPO Market
Competition Matrix & Benchmarking, by Leading Players / Innovators /
Emerging Players / New Entrants
14.2. Global Healthcare BPO Market
Competition White Space Analysis, By End-user
14.3. Global Healthcare BPO Market
Competition Heat Map Analysis, By End-user
14.4. Global Healthcare BPO Market
Concentration & Company Market Shares (%) Analysis, 2022
15. Company Profiles
15.1.
Accenture.
15.1.1. Company Overview & Key Stats
15.1.2. Financial Performance & KPIs
15.1.3. Product Portfolio
15.1.4. Business Strategy & Recent
Developments
* Similar details would be provided
for all the players mentioned below
15.2. Infosys BPM
15.3. Genpact
15.4. Omega
Healthcare
15.5. IQVIA
15.6. HCL
Technologies
15.7. GeBBS
Healthcare Solutions
15.8. IBM
15.9. Parexel
International
15.10. Tata
Consultancy Services
15.11. Paraxel
15.12. Others
16. Research
Methodology
16.1. External Transportations / Databases
16.2. Internal Proprietary Database
16.3. Primary Research
16.4. Secondary Research
16.5. Assumptions
16.6. Limitations
16.7. Report FAQs
17. Research
Findings & Conclusion
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size of Healthcare BPO Market in 2024?
Healthcare BPO Market was valued at USD 423.10 Billion in 2024.
What is the growth rate for the Healthcare BPO Market?
Healthcare BPO Market size will increase at approximate CAGR of 9.3%during the forecasted period.
Which are the top companies operating within the market?
Major companies operating within the Healthcare BPO Market Are Accenture, Infosys BPM, Genpact, Omega Healthcare, IQVIA, HCL Technologies, GeBBS Healthcare Solutions, IBM, Parexel International, Tata Consultancy Services, Paraxel and Others.
Which region dominates the Healthcare BPO Market?
North America dominates the market with an active share of 47%.
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