Healthcare BPO Market Worth 312.43 Billion USD by 2022

Wednesday, October 4, 2017 Corporate News
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PUNE, India, October 4, 2017 /PRNewswire/ --

According to a new market research "Healthcare BPO Market Provider (RCM, Patient Care), Payer (Claims Repricing), Pharmaceutical (R&D, Manufacturing, Sales and Marketing Services (Forecasting, Performance Reporting), Outsourcing Approaches, Models (Multisourc

ing) - Global Forecasts to 2022", published by MarketsandMarkets™, the global market is expected to reach USD 312.43 Billion by 2022 from USD 191.68 Billion in 2017, at a
CAGR of 10.2% from 2017 to 2022.

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Browse 156 Market Data Tables and 34 Figures spread through 201 Pages and in-depth TOC on "Healthcare BPO Market"

Early buyers will receive 10% customization on this report 

Patent 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, hidden costs of outsourcing and the fear of losing visibility and control over business processes and reliability and data security and privacy concerns are the major factors expected to restrain market growth.

The pharmaceutical services market to hold the largest share during the forecast period 

Based on type of service, the Healthcare BPO Market is segmented into payer, provider, and pharmaceutical services. In 2017, the pharmaceutical services segment is expected to account for the largest share of the market. Growth in this segment can be attributed to the increasing competition in the pharmaceutical industry and high operational costs.

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The revenue cycle management segment to grow at the highest CAGR during the forecast period 

On the basis of provider service, the market is classified into revenue cycle management, patient enrolment & strategic planning, and patient care. The revenue cycle management is expected to grow at the highest CAGR during the forecast period. 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 US to dominate the Healthcare BPO Market in 2017 

In 2017, the US is expected to account for the largest share of the global Healthcare BPO Market, followed by, Europe and RoW. Factors such as increasing competition and strict government regulations to reduce costs are driving the growth of the US healthcare BPO outsourcing market.

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Market Players 

Accenture (US), Cognizant (US), Infosys (India), TCS (India), and Xerox (US) are the key players in the Healthcare BPO Market between 2017 and 2022. Other major players operating in this market are Quintiles IMS Holdings (US), Lonza (Switzerland), Genpact (Bermuda), WNS (Holdings) (India), Wipro (India), and IBM (US).

Browse Related Reports 

Healthcare IT Market by Product (EHR, RIS, PACS, VNA, CPOE, HIE, Telehealth, Healthcare Analytics, Population Health Management, Supply Chain Management, CRM, Fraud Management, Claims Management) End User (Provider, Payer) - Global Forecast to 2021  

Accountable Care Solutions Market by Product & Service (EHR, Healthcare Analytics, HIE, RCM, CDSS, Population Health, Claims Management, Care Management), Delivery mode (On-Premise, Web & Cloud), End User (Provider & Payer) - Global Forecast to 2021

About MarketsandMarkets™

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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