What Is The Healthcare BPO Market Overview In 2022?
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The healthcare BPO market is forecasted to achieve notable growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 12%, as per The Business Research Company’s market report!
Read More On The Healthcare BPO Market Report 2022 – https://www.thebusinessresearchcompany.com/report/healthcare-BPO-global-market-report
The Healthcare BPO Market Size In 2022 And Forecast
The global healthcare BPO market is expected to grow from $247.26 billion in 2021 to $277.24 billion in 2022 at a compound annual growth rate (CAGR) of 12.1%. The global healthcare business process outsourcing market size is expected to grow to $441.08 billion in 2026 at a CAGR of 12.3%.
The healthcare BPO market consists of sales of healthcare business process outsourcing services by entities (organizations, partnerships, and sole proprietors) that include the practice of healthcare organizations outsourcing non-core business activities to outside vendors.
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Rapid Increase Of Clinical Process Outsourcing Is Driving The Growth Of The Healthcare BPO Market
For instance, in April 2021, Parexel (an American healthcare outsourcing provider) and Veeva Systems (a cloud-computing company focusing on pharmaceutical and life sciences industry applications) announced a strategic partnership to accelerate clinical trials by advancing technology and processes. Based on feedback from sponsors, sites, and patients, the companies will collaborate to improve Veeva’s cloud technology and Parexel’s clinical trial delivery processes. Hence, the rapid increase of clinical process outsourcing is expected to drive the healthcare BPO market in the upcoming years.
Competitive Landscape And The Regional Analysis Of The Healthcare BPO Market
Major players in the healthcare BPO market are Accenture, Cognizant, Tata Consultancy Services, Genpact, HCL Business Services, IQVIA, IBM Corporation, GeBBS Healthcare Solutions, Xerox Corporation, NTT Data Corporation, Infosys BPM, Firstsource Solutions, Omega Healthcare, Invensis and Wipro.
Additionally, as per TBRC’s research North America was the largest region in the healthcare BPO market in 2021 holding the largest market share and Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Healthcare BPO Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the healthcare BPO market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the healthcare BPO market.
Technological Advancement – A Key Trend In 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.
Healthcare BPO Market Segmentation By The Business Research Company
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, Others
3) By Pharmaceutical Service: Research and Development, Manufacturing, Non-Clinical Service
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