Healthcare Business Process Outsourcing (BPO) Market Size Trends, Growth, and Outlook 2024-2033

Overview and Scope

Healthcare business process outsourcing (BPO) refers to the practice of hiring an external service provider to handle non-clinical or non-core activities of a healthcare organization. It is used for a wide range of functions and activities within the healthcare industry to improve efficiency, reduce costs, enhance compliance, and allow healthcare organizations to focus on their core mission of providing patient care.

Sizing and Forecast

The healthcare business process outsourcing (bpo) market size has grown rapidly in recent years. It will grow from $288.95 billion in 2023 to $321.15 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to cost efficiency and operational optimization, rising demand for specialized services, data security and patient privacy concerns, shift towards value-based care models, impact of globalization in healthcare..

The healthcare business process outsourcing (bpo) market size is expected to see rapid growth in the next few years. It will grow to $492.32 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to enhanced patient-centric solutions, global expansion and multilingual services, post-pandemic remote service demand, evolution of value-based care models, heightened focus on data security.. Major trends in the forecast period include focus on customer experience and patient engagement, strategic partnerships and collaborations, globalization of healthcare services, covid-19 pandemic impact, shift towards value-based care models..

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Segmentation & Regional Insights

The healthcare business process outsourcing (bpo) market covered in this report is segmented –

1) By Service Type: Provider Outsourcing Services, Payer Outsourcing Services, Operational Outsourcing Services, Information Technology Infrastructure Management Services
2) By Provider Service: Revenue Cycle Management, Patient Enrollment, Patient Care
3) By Payer Service: Claims Management, Product Development And Business Acquisition, Member Management, Provider Management, Care Management, Integrated Front-End Services And Back-Office Operations, Billing And Accounts Management Services, Human Resources (HR) Services
4) By Solution: Manufacturing, Research And Development, Non-Clinical Services
5) By End User: Healthcare Providers, Healthcare Payers, Other End-Users

North America was the largest region in the healthcare business process outsourcing (BPO) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare business process outsourcing (bpo) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

The increasing number of drug developments is expected to propel the growth of the healthcare business process outsourcing (BPO) market going forward. Drug development refers to the process by which new medications or drugs are discovered, researched, tested, and brought to market for the treatment, prevention, or management of medical conditions. Healthcare business process outsourcing (BPO) firms play a critical role in helping pharmaceutical companies manage the complexities of drug development, regulatory compliance, and market access, ultimately contributing to more efficient and effective drug development processes. For instance, in February 2022, according to the World Health Organization’s International Clinical Trials Registry Platform (ICTRP), the number of clinical trials registered with WHO was 60,543 in 2019, rising to 65,409 in 2020. Furthermore, according to ClinicalTrials.gov, a platform for registering clinical trials, the total number of clinical trials reported until 2020 was 325,771 in March 2021, rising to 362,501 in 2021. Therefore, the increasing number of drug developments is driving the growth of the healthcare business process outsourcing (BPO) market.

Key Industry Players

Major companies operating in the healthcare business process outsourcing (bpo) market report are UnitedHealth Group Incorporated, Accenture plc, International Business Machines Corporation (IBM), Tata Consultancy Services Limited, Cognizant Technology Solutions Corporation, IQVIA Holdings Inc., Quintiles IMS Holdings Inc., HCL Technologies Limited, Infosys Limited, Wipro Limited, DSM Pharma, Sutherland Global Services Inc., Xerox Holdings Corporation, Genpact Limited, Access Healthcare Services Pvt. Ltd., Parexel International Corporation, R1 RCM Inc., NTT Data Corporation, EXLService Holdings Inc., Sykes Enterprises Incorporated, WNS Limited, Firstsource Solutions Limited, Invensis Technologies Pvt. Ltd., Omega Healthcare Investors Inc., Hinduja Global Solutions Limited, Mphasis Limited, GeBBS Healthcare Solutions Inc., Akurate Management Solutions Pvt Ltd., Gevity Consulting Inc., Octopus Tech Solutions Pvt Ltd.

The healthcare business process outsourcing (bpo) market report table of contents includes:

1. Executive Summary
2. Healthcare Business Process Outsourcing (BPO) Market Characteristics
3. Healthcare Business Process Outsourcing (BPO) Market Trends And Strategies
4. Healthcare Business Process Outsourcing (BPO) Market – Macro Economic Scenario
5. Global Healthcare Business Process Outsourcing (BPO) Market Size and Growth
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32. Global Healthcare Business Process Outsourcing (BPO) Market Competitive Benchmarking
33. Global Healthcare Business Process Outsourcing (BPO) Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Healthcare Business Process Outsourcing (BPO) Market
35. Healthcare Business Process Outsourcing (BPO) Market Future Outlook and Potential Analysis
36. Appendix