LONDON, Oct. 11, 2017 /PRNewswire/ -- "The healthcare BPO market is projected to grow at a CAGR of 10.2%." The healthcare
BPO market is expected to grow at a CAGR of 10.2% from 2017 to 2022, to reach USD 312.43 billion
by 2022 from USD 191.68 billion
in 2017. The need to reduce the rising healthcare costs and the
implementation of the Patient Protection and Affordable Care Act (PPACA) are factors that compel payers and providers to outsource their business processes to low-cost countries in order to reduce operational costs. Download the full report: https://www.reportbuyer.com/product/3932647Patent cliffs, complex clinical trial protocols, and new reporting requirements are forcing pharmaceutical companies to outsource their R&D and manufacturing processes to other countries, which is driving the healthcare outsourcing market. On the other hand, the fear of losing visibility & control over business processes and reliability and data security & privacy concerns are the major factors expected to restrain market growth. "The revenue cycle management segment is expected to grow at the highest CAGR."
On the basis of provider service, the healthcare BPO market is segmented into revenue cycle management, patient enrollment, and patient care. In 2017, the revenue cycle management segment is expected to account for the largest share of the global healthcare BPO market. Growth in the revenue cycle management market can largely be attributed to factors such as decreasing reimbursements in the healthcare industry, reductions in the overall healthcare costs, initiatives undertaken by governments for implementing RCM solutions, and increasing expenditure by the healthcare IT industry. "The manufacturing services segment is expected to account for the largest share in 2017."
On the basis of pharmaceutical services, the market is classified into manufacturing services, R&D services, and non-clinical services. In 2017, the manufacturing services segment is expected to account for the largest share of the market. The rising demand for new drugs and cost advantages of outsourcing are the key factors driving the growth of this segment. "The US is expected to account for the largest share during the forecast period as a source region."
By source geography, the US is expected to account for the largest share, followed by Europe
, and RoW. It is the prime source for the outsourcing of healthcare services due to the mandatory implementation of ICD-10 codes and enactment of PPACA. The US also ranks high as a preferred location in cases where location and skill are more important than cost savings. Break-up profile of primaries:
• By Company Type- Tier 1-40%, Tier 2-35% and Tier 3-25% • By Designation-C-level-33%, D-level-41% and Others-26% • By Region-North America-35%, Europe
-21%, and RoW-14% The key players in the healthcare BPO market are Cognizant (US), Accenture (Ireland
), Xerox (US), Genpact (Bermuda
), TCS (India
), and Infosys (India
). Research Coverage:
The healthcare BPO market in this report is segmented by payer services, provider services, pharmaceutical services, and region. The study tracks and analyzes competitive developments such as product launches, agreements, partnerships, and acquisitions, and profiles key players and core competencies in the healthcare BPO market. Reasons to buy this report: The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on portfolios offered by the top players in the global healthcare BPO market. The report analyzes the healthcare BPO market by payer services, provider services, pharmaceutical services, and region • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the healthcare BPO market • Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for healthcare BPO services across regions • Market Diversification: Exhaustive information about new products, untapped geographies, and recent developments in the global healthcare BPO market • Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the key players in the global healthcare BPO marketDownload the full report: https://www.reportbuyer.com/product/3932647 About Reportbuyer Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers https://www.reportbuyer.com For more information: Sarah Smith
Research Advisor at Reportbuyer.com Email: [email protected]
Tel: +44 208 816 85 48 Website: www.reportbuyer.com
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