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Healthcare BPO - Global Market Trajectory & Analytics

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    Report

  • 397 Pages
  • July 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 4804990

Global Healthcare BPO Market to Reach $441.8 Billion by 2026


In the healthcare market, BPO service providers enable payers to streamline their operations, increase overall productivity, and lower operational costs. They can offer services which enable buyers introduce new plans in the market, with low overhead costs. In a conventional healthcare BPO service agreement, a third party partner manages functions such as back office administration, member services and claims adjudication, for private as well as public health insurance payers. Such BPO providers have enabled transformation of the healthcare business model, by aiding in aggregating data, adjudicating claims payments, recognizing opportunities for savings, offering high touch member service and confirming suitable security measures, in a more efficient manner. While traditional services offered by BPOs comprised call centers, member processing, and claims adjudication, new-age BPO providers are re-evolving the service offerings and are creating completely integrated service models that are fully branded by the underwriting insurance company. Some of the innovative offerings of the BPO today include alternate payment services, claims modernization, novel plan design strategy, and analytics.

Amid the COVID-19 crisis, the global market for Healthcare BPO estimated at US$311.7 Billion in the year 2022, is projected to reach a revised size of US$441.8 Billion by 2026, registering a compounded annual growth rate (CAGR) of 9.3% over the analysis period. The United States represents the largest regional market for Healthcare BPO and is projected to reach US$167.7 Billion by 2026. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 10.6% over the analysis period. The market globally is anticipated to post a significant growth over the short-term owing to the mounting pressure to cut healthcare delivery costs and consolidation of incorporated healthcare systems. The market growth is expected to be propelled by implementation of stringent regulations along with PPACA and clinical trial protocols.
Fueled by these factors, the healthcare BPO market is forecast to reflect an impressive growth rate over the short term. Moreover, patent cliffs faced by various pharmaceutical companies and mandatory enactment of ICD-10 codes within the US are expected to further provide the required impetus to the market. On the other hand, concerns regarding service quality coupled with apprehensions about losing control over outsourcing are likely to remain key inhibitors in the coming years. The rise in number of individuals getting insured is further driving healthcare organizations to outsource certain services to address the demand for effective healthcare management. The consolidation of healthcare providers and growing pressure to minimize healthcare costs is further driving the demand for healthcare outsourcing services.

Select Competitors (Total 61 Featured):

  • Accenture Plc
  • Boehringer Ingelheim
  • Catalent Pharma Solutions, Inc.
  • Conduent, Inc.
  • Covance, Inc.
  • Charles River Laboratories International, Inc.
  • Cognizant Technology Solutions Corporation
  • EXLService Holdings, Inc.
  • GeBBS Healthcare Solutions, Inc.
  • Genpact Limited
  • HCL Technologies Limited
  • Infosys BPM Limited
  • IQVIA
  • Lonza Group AG
  • PAREXEL International Corp.
  • Syneos Health
  • Tata Consultancy Services Limited
  • Wipro Limited
  • WNS Global Services Ltd.

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the digital archives
  • Complimentary updates for one year

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • Impact of Covid-19 and a Looming Global Recession
  • Outlook
  • Segment Review
  • Healthcare BPO - Global Key Competitors Percentage Market Share in 2022 (E)
  • Leading Players in the Global Contract Research Outsourcing Market by Revenue Share (in %): 2019
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Increasing Healthcare Costs to Drive Inclination towards BPO Services
  • Global Cost of Chronic Diseases (In US$ Billion) for the Years 2018 and 2030
  • Aging Population Burdens an Already Strained Healthcare System: Global Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
  • Per Capita Healthcare Expenditure (in $) by Select Countries for 2018
  • Regulatory Challenges Inflate the Demand for Healthcare BPO
  • ICD-10 Coding Standards and Impending Adoption of ICD-11 Standards: Potential for BPO Providers
  • With Many Benefits of Cloud Computing, “The Cloud” Comes With a Silver Lining for BPO Service Providers Struggling to Remain Cost Competitive in the Era of Value Based Care
  • Inherent Advantages of Cloud Computing Make “The Cloud” a Game Changer in the Healthcare BPO Industry: Benefits of Cloud Measured in % Efficiency Improvements & Cost Reduction
  • Revenue Cycle Management Outsourcing Maximize Revenue Collection Operations
  • Global Market for Revenue Cycle Management: Revenues in US$ Billion for the Years 2018, 2020, 2022 and 2024
  • Reimbursement Changes Amplify Demand
  • Rise in Healthcare Industry Consolidation Boosts Growth Opportunities
  • Select M&A Deals Involving Large Healthcare Firms
  • Healthcare BPO Market for Pharma Sector
  • Global Pharmaceutical R&D Spending (US$ Billion) for the Years 2010 through 2020
  • Patent Cliffs in Pharma Industry Drive Dependence on BPO Providers
  • Major Pharma Drugs Losing Patents in 2019
  • Healthcare Analytics Services Address the Challenge of High Data Volumes
  • Industry Witnesses a Surge in Near Shore Outsourcing
4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: World Recent Past, Current & Future Analysis for Healthcare BPO by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • TABLE 2: World Historic Review for Healthcare BPO by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • TABLE 3: World 15-Year Perspective for Healthcare BPO by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2012, 2021 & 2027
  • TABLE 4: World Recent Past, Current & Future Analysis for Provider Service by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • TABLE 5: World Historic Review for Provider Service by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • TABLE 6: World 15-Year Perspective for Provider Service by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2021 & 2027
  • TABLE 7: World Recent Past, Current & Future Analysis for Payer Service by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • TABLE 8: World Historic Review for Payer Service by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • TABLE 9: World 15-Year Perspective for Payer Service by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2021 & 2027
  • TABLE 10: World Recent Past, Current & Future Analysis for Pharmaceutical Service by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • TABLE 11: World Historic Review for Pharmaceutical Service by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • TABLE 12: World 15-Year Perspective for Pharmaceutical Service by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2021 & 2027
III. MARKET ANALYSIS
UNITED STATES
  • Healthcare BPO Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Rise in Healthcare Costs Trigger the Need for Healthcare BPO Services
  • Changing Regulations in the US: Implications for the Payer BPO Market
  • Rising Healthcare Costs Drive Healthcare Reforms in the US: Per Capita Healthcare Expenditure (in $) for the Period 2014-2019
  • Health Coverage in the US: Percentage Breakdown of Number of Americans Covered by Source of Health Coverage for the Years 2018 and 2028
  • Healthcare Reforms Lead to Reduced Uninsured Population: Percentage of Uninsured Population for the Period 2008, 2010, 2012, 2014, 2016 and 2018
  • Number of Medicare ACOs in the US for the Years 2012 through 2018
  • Market Analytics
  • TABLE 13: USA Recent Past, Current & Future Analysis for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • TABLE 14: USA Historic Review for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • TABLE 15: USA 15-Year Perspective for Healthcare BPO by Type - Percentage Breakdown of Value Sales for Provider Service, Payer Service and Pharmaceutical Service for the Years 2012, 2021 & 2027
CANADA
  • TABLE 16: Canada Recent Past, Current & Future Analysis for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • TABLE 17: Canada Historic Review for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • TABLE 18: Canada 15-Year Perspective for Healthcare BPO by Type - Percentage Breakdown of Value Sales for Provider Service, Payer Service and Pharmaceutical Service for the Years 2012, 2021 & 2027
JAPAN
  • Healthcare BPO Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • TABLE 19: Japan Recent Past, Current & Future Analysis for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • TABLE 20: Japan Historic Review for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • TABLE 21: Japan 15-Year Perspective for Healthcare BPO by Type - Percentage Breakdown of Value Sales for Provider Service, Payer Service and Pharmaceutical Service for the Years 2012, 2021 & 2027
CHINA
  • Healthcare BPO Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Chinese Healthcare Industry on a Growth Trajectory
  • Market Analytics
  • TABLE 22: China Recent Past, Current & Future Analysis for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • TABLE 23: China Historic Review for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • TABLE 24: China 15-Year Perspective for Healthcare BPO by Type - Percentage Breakdown of Value Sales for Provider Service, Payer Service and Pharmaceutical Service for the Years 2012, 2021 & 2027
EUROPE
  • Healthcare BPO Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • TABLE 25: Europe Recent Past, Current & Future Analysis for Healthcare BPO by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • TABLE 26: Europe Historic Review for Healthcare BPO by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • TABLE 27: Europe 15-Year Perspective for Healthcare BPO by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2012, 2021 & 2027
  • TABLE 28: Europe Recent Past, Current & Future Analysis for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • TABLE 29: Europe Historic Review for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • TABLE 30: Europe 15-Year Perspective for Healthcare BPO by Type - Percentage Breakdown of Value Sales for Provider Service, Payer Service and Pharmaceutical Service for the Years 2012, 2021 & 2027
FRANCE
  • Healthcare BPO Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
  • TABLE 31: France Recent Past, Current & Future Analysis for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • TABLE 32: France Historic Review for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • TABLE 33: France 15-Year Perspective for Healthcare BPO by Type - Percentage Breakdown of Value Sales for Provider Service, Payer Service and Pharmaceutical Service for the Years 2012, 2021 & 2027
GERMANY
  • Healthcare BPO Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
  • TABLE 34: Germany Recent Past, Current & Future Analysis for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • TABLE 35: Germany Historic Review for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • TABLE 36: Germany 15-Year Perspective for Healthcare BPO by Type - Percentage Breakdown of Value Sales for Provider Service, Payer Service and Pharmaceutical Service for the Years 2012, 2021 & 2027
ITALY
  • TABLE 37: Italy Recent Past, Current & Future Analysis for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • TABLE 38: Italy Historic Review for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • TABLE 39: Italy 15-Year Perspective for Healthcare BPO by Type - Percentage Breakdown of Value Sales for Provider Service, Payer Service and Pharmaceutical Service for the Years 2012, 2021 & 2027
UNITED KINGDOM
  • Healthcare BPO Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
  • TABLE 40: UK Recent Past, Current & Future Analysis for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • TABLE 41: UK Historic Review for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • TABLE 42: UK 15-Year Perspective for Healthcare BPO by Type - Percentage Breakdown of Value Sales for Provider Service, Payer Service and Pharmaceutical Service for the Years 2012, 2021 & 2027
REST OF EUROPE
  • TABLE 43: Rest of Europe Recent Past, Current & Future Analysis for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • TABLE 44: Rest of Europe Historic Review for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • TABLE 45: Rest of Europe 15-Year Perspective for Healthcare BPO by Type - Percentage Breakdown of Value Sales for Provider Service, Payer Service and Pharmaceutical Service for the Years 2012, 2021 & 2027
ASIA-PACIFIC
  • Healthcare BPO Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Indian BPO Industry Revolutionizes Healthcare Sector
  • Market Analytics
  • TABLE 46: Asia-Pacific Recent Past, Current & Future Analysis for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • TABLE 47: Asia-Pacific Historic Review for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • TABLE 48: Asia-Pacific 15-Year Perspective for Healthcare BPO by Type - Percentage Breakdown of Value Sales for Provider Service, Payer Service and Pharmaceutical Service for the Years 2012, 2021 & 2027
REST OF WORLD
  • TABLE 49: Rest of World Recent Past, Current & Future Analysis for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR
  • TABLE 50: Rest of World Historic Review for Healthcare BPO by Type - Provider Service, Payer Service and Pharmaceutical Service Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • TABLE 51: Rest of World 15-Year Perspective for Healthcare BPO by Type - Percentage Breakdown of Value Sales for Provider Service, Payer Service and Pharmaceutical Service for the Years 2012, 2021 & 2027
IV. COMPETITION
  • Total Companies Profiled: 61

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Accenture Plc
  • Boehringer Ingelheim
  • Catalent Pharma Solutions, Inc.
  • Conduent, Inc.
  • Covance, Inc.
  • Charles River Laboratories International, Inc.
  • Cognizant Technology Solutions Corporation
  • EXLService Holdings, Inc.
  • GeBBS Healthcare Solutions, Inc.
  • Genpact Limited
  • HCL Technologies Limited
  • Infosys BPM Limited
  • IQVIA
  • Lonza Group AG
  • PAREXEL International Corp.
  • Syneos Health
  • Tata Consultancy Services Limited
  • Wipro Limited
  • WNS Global Services Ltd.