Healthcare

Healthcare BPO Market Share, Growth and Outlook by 2030

The Healthcare BPO Global Market Report 2023 by The Business Research Company, provides healthcare bpo market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Healthcare BPO Global Market Report 2023, the global healthcare BPO market size will grow 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 market size of the healthcare BPO industry is expected to grow to $490.84 billion in 2027 at a CAGR of 12.2%.

The rapid increase of clinical process outsourcing is significantly driving the growth of the healthcare BPO market. Clinical process outsourcing is administrative work in the healthcare industry that requires or benefits from clinical expertise. 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.

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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

Technology advancements are shaping the healthcare BPO market. 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. For instance, in May 2020, IQVIA, an American health information technology company, launched HCP/HCO Engagement Management. It is a completely orchestrated healthcare professional/organization (HCP/HCO) solution that lets users plan, manage, contract, and pay HCP/HCOs anywhere in the world. HCP/O Engagement Management is a transformative technology that integrates with customers’ existing IT ecosystems and adapts to how they do business.

The healthcare bpo market report table of contents includes: