Hospital Outsourcing Market Growth Trajectory Through 2024-2033

The Hospital Outsourcing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Hospital Outsourcing Global Market Report 2024, 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.

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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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

Major companies operating in the hospital outsourcing market are focused on investments to increase their profitability in the market. Investments in hospital outsourcing refer to financial commitments made by individuals, organizations, or investors in services provided by external entities to manage specific functions or processes within a hospital. For instance, Warburg Pincus LLC, a US-based equity firm is set to invest in Everise, a US-based healthcare services outsourcing company, at a valuation of approximately $1 billion. This strategic investment will enable the exit of current investor Everstone Group and open avenues for Everise’s expansion through mergers and acquisitions. Recognizing Everise’s accomplished leadership and proven ability to scale profitably, Warburg Pincus, leveraging its extensive network and resources in Asia and the US, aims to propel Everise as an industry leader with sustained momentum.

The hospital outsourcing market report table of contents includes:

1. Executive Summary
2. Hospital Outsourcing Market Characteristics
3.Hospital Outsourcing Market Trends And Strategies
4.Hospital Outsourcing Impact Of COVID-19
5.Hospital Outsourcing Market Size And Growth
6.Hospital Outsourcing Segmentation
7.Hospital Outsourcing Regional And Country Analysis
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27.Hospital Outsourcing Competitive Landscape And Company Profiles
28.Hospital Outsourcing Key Mergers And Acquisitions
29.Hospital Outsourcing Future Outlook and Potential Analysis

TOP MAJOR PLAYERS:

• Johnson & Johnson
• Abbott Laboratories
• MMM Group
• 3M Company
• Sodexo S.A.
• Becton Dickinson and Company

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