The healthcare bpo market size has grown rapidly in recent years. It will grow from $308.43 billion in 2023 to $344.4 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth observed in the historical period can be attributed to concerns about data security, the globalization of healthcare services, growth in the healthcare industry, cost pressures in healthcare, and regulatory changes in the healthcare sector.
The healthcare bpo market size is expected to see rapid growth in the next few years. It will grow to $560.2 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The anticipated growth in the forecast period can be attributed to remote patient monitoring, the increasing demand for data analytics, integration of AI and automation, the evolving landscape of revenue cycle management, and support for precision medicine. Key trends expected in the forecast period encompass the enhancement of patient experience, the adoption of telemedicine and remote healthcare practices, a focus on data security and compliance, population health management, and advancements in revenue cycle management.
The healthcare BPO market is witnessing significant growth due to the rapid increase in clinical process outsourcing. Clinical process outsourcing involves administrative work in the healthcare industry that requires clinical expertise. The rise in clinical trials outsourcing is attributed to the increasing number of drugs entering clinical phases, leading companies to seek Clinical Research Organizations (CROs) to manage their portfolios. According to ClinicalTrials.gov, a total of 437,515 clinical trials were registered in 2022, with 56,561 successfully completed. The increasing reliance on clinical process outsourcing is expected to drive the healthcare BPO market in the coming years.
The healthcare BPO market is expected to experience growth due to the rising healthcare expenditure. Healthcare expenditure refers to the total resources, including financial resources, spent on healthcare services and related activities within a specific period. Healthcare BPO services contribute to cost containment, efficiency improvements, and strategic resource management, positively impacting healthcare expenditure. According to the Canadian Institute for Health Information in November 2022, healthcare expenditure in the United States rose to 0.8%, reaching $331 billion in 2022, compared to 7.6% in 2021. The increasing healthcare expenditure is a driving force for the growth of the healthcare BPO market.
Major players are leveraging technological advancements to increase profitability by developing new cloud-based solutions. Cloud-based solutions in healthcare BPO optimize data and application management by utilizing the capabilities of cloud computing platforms over the internet. For example, in March 2023, Fujitsu Limited, a Japan-based information and communications technology company, introduced an innovative cloud-based platform to revolutionize personalized healthcare and advance drug development. This cloud-centric system aims to gather health information from electronic medical records, wearable gadgets, and various channels, with the integrated data intended to enhance healthcare practices, refine clinical research methodologies, and optimize the drug development process. Fujitsu envisions this platform contributing to the establishment of a fresh health and medical community focused on promoting the overall well-being of individuals.
Major companies are developing innovative solutions such as an AI and RPA platform to enhance profitability. This platform combines the capabilities of Artificial Intelligence (AI) and Robotic Process Automation (RPA) to automate various tasks within an organization. For example, in July 2021, Access Healthcare, a US-based Business Process Outsourcing (BPO) services provider, launched echo, an AI and RPA platform automating processes throughout the revenue cycle. The Echo suite offers tools for automating eligibility checks, data input, coding, payment tracking, AR management, denial handling, and appeals. Utilizing machine learning and AI, Echo accelerates productivity by automating processes, surpassing other revenue cycle platforms in ROI speed, quality, and outcomes.
In January 2022, Betaine BV, affiliated with Hong Kong-based Baring Private Equity Asia (BPEA), acquired Hinduja Global Solutions (HGS) Limited for a total enterprise value of $1,200 million. This acquisition positions HGS to invest strategically in technology capabilities, supporting its future growth endeavors. HGS, an Indian company specializing in business process management (BPM) and customer experience optimization in healthcare, aligns with Betaine BV's goals.
Major companies operating in the healthcare bpo market report are Google LLC, General Electric Company, SAP SE, THALES Group Inc., Harris Corporation, Hexagon AB, Trimble Inc., Fugro N.V., Maxar Technologies Ltd., Environmental Systems Research Institute Inc. (ESRI), Bentley Systems Incorporated, Alteryx Inc., MDA Ltd., TomTom International BV, Skydweller Aero Inc., PASCO scientific, CartoDB S.L., SkyMap Global Inc., Descartes Labs Inc., Orbital Insight Inc., Mandalay Technology Inc., Intermap Technologies Corporation, MapLarge Corporation, Orbica Ltd., Geosite Corporation, Advanced Risk Analytics Private Limited, Geoviet Consulting Inc., GIS Co. Ltd., MapPoint Asia Pacific Pte. Ltd., TravelMap SAS.
North America was the largest region in the healthcare BPO market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare bpo market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the healthcare bpo market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary services provided by healthcare BPO are revenue cycle management, patient enrollment and strategic planning, and patient care. Revenue cycle management (RCM) tracks patient care episodes from registration to the final payment of a balance using medical billing software. Payer services include human resource management, claims management, customer relationship management (CRM), operational/administrative management, care management, provider management, and other services used by pharmaceutical companies for research and development, manufacturing, and non-clinical service.
The healthcare BPO market research report is one of a series of new reports that provides healthcare BPO market statistics, including healthcare BPO industry global market size, regional shares, competitors with a healthcare BPO market share, detailed healthcare BPO market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare BPO industry. This healthcare bpo market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The healthcare BPO market includes revenues earned by entities by providing services such as claims processing, data processing services, access to industry experts. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The healthcare bpo market size is expected to see rapid growth in the next few years. It will grow to $560.2 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The anticipated growth in the forecast period can be attributed to remote patient monitoring, the increasing demand for data analytics, integration of AI and automation, the evolving landscape of revenue cycle management, and support for precision medicine. Key trends expected in the forecast period encompass the enhancement of patient experience, the adoption of telemedicine and remote healthcare practices, a focus on data security and compliance, population health management, and advancements in revenue cycle management.
The healthcare BPO market is witnessing significant growth due to the rapid increase in clinical process outsourcing. Clinical process outsourcing involves administrative work in the healthcare industry that requires clinical expertise. The rise in clinical trials outsourcing is attributed to the increasing number of drugs entering clinical phases, leading companies to seek Clinical Research Organizations (CROs) to manage their portfolios. According to ClinicalTrials.gov, a total of 437,515 clinical trials were registered in 2022, with 56,561 successfully completed. The increasing reliance on clinical process outsourcing is expected to drive the healthcare BPO market in the coming years.
The healthcare BPO market is expected to experience growth due to the rising healthcare expenditure. Healthcare expenditure refers to the total resources, including financial resources, spent on healthcare services and related activities within a specific period. Healthcare BPO services contribute to cost containment, efficiency improvements, and strategic resource management, positively impacting healthcare expenditure. According to the Canadian Institute for Health Information in November 2022, healthcare expenditure in the United States rose to 0.8%, reaching $331 billion in 2022, compared to 7.6% in 2021. The increasing healthcare expenditure is a driving force for the growth of the healthcare BPO market.
Major players are leveraging technological advancements to increase profitability by developing new cloud-based solutions. Cloud-based solutions in healthcare BPO optimize data and application management by utilizing the capabilities of cloud computing platforms over the internet. For example, in March 2023, Fujitsu Limited, a Japan-based information and communications technology company, introduced an innovative cloud-based platform to revolutionize personalized healthcare and advance drug development. This cloud-centric system aims to gather health information from electronic medical records, wearable gadgets, and various channels, with the integrated data intended to enhance healthcare practices, refine clinical research methodologies, and optimize the drug development process. Fujitsu envisions this platform contributing to the establishment of a fresh health and medical community focused on promoting the overall well-being of individuals.
Major companies are developing innovative solutions such as an AI and RPA platform to enhance profitability. This platform combines the capabilities of Artificial Intelligence (AI) and Robotic Process Automation (RPA) to automate various tasks within an organization. For example, in July 2021, Access Healthcare, a US-based Business Process Outsourcing (BPO) services provider, launched echo, an AI and RPA platform automating processes throughout the revenue cycle. The Echo suite offers tools for automating eligibility checks, data input, coding, payment tracking, AR management, denial handling, and appeals. Utilizing machine learning and AI, Echo accelerates productivity by automating processes, surpassing other revenue cycle platforms in ROI speed, quality, and outcomes.
In January 2022, Betaine BV, affiliated with Hong Kong-based Baring Private Equity Asia (BPEA), acquired Hinduja Global Solutions (HGS) Limited for a total enterprise value of $1,200 million. This acquisition positions HGS to invest strategically in technology capabilities, supporting its future growth endeavors. HGS, an Indian company specializing in business process management (BPM) and customer experience optimization in healthcare, aligns with Betaine BV's goals.
Major companies operating in the healthcare bpo market report are Google LLC, General Electric Company, SAP SE, THALES Group Inc., Harris Corporation, Hexagon AB, Trimble Inc., Fugro N.V., Maxar Technologies Ltd., Environmental Systems Research Institute Inc. (ESRI), Bentley Systems Incorporated, Alteryx Inc., MDA Ltd., TomTom International BV, Skydweller Aero Inc., PASCO scientific, CartoDB S.L., SkyMap Global Inc., Descartes Labs Inc., Orbital Insight Inc., Mandalay Technology Inc., Intermap Technologies Corporation, MapLarge Corporation, Orbica Ltd., Geosite Corporation, Advanced Risk Analytics Private Limited, Geoviet Consulting Inc., GIS Co. Ltd., MapPoint Asia Pacific Pte. Ltd., TravelMap SAS.
North America was the largest region in the healthcare BPO market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare bpo market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the healthcare bpo market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary services provided by healthcare BPO are revenue cycle management, patient enrollment and strategic planning, and patient care. Revenue cycle management (RCM) tracks patient care episodes from registration to the final payment of a balance using medical billing software. Payer services include human resource management, claims management, customer relationship management (CRM), operational/administrative management, care management, provider management, and other services used by pharmaceutical companies for research and development, manufacturing, and non-clinical service.
The healthcare BPO market research report is one of a series of new reports that provides healthcare BPO market statistics, including healthcare BPO industry global market size, regional shares, competitors with a healthcare BPO market share, detailed healthcare BPO market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare BPO industry. This healthcare bpo market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The healthcare BPO market includes revenues earned by entities by providing services such as claims processing, data processing services, access to industry experts. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Healthcare BPO Market Characteristics3. Healthcare BPO Market Trends and Strategies32. Global Healthcare BPO Market Competitive Benchmarking33. Global Healthcare BPO Market Competitive Dashboard34. Key Mergers and Acquisitions in the Healthcare BPO Market
4. Healthcare BPO Market - Macro Economic Scenario
5. Global Healthcare BPO Market Size and Growth
6. Healthcare BPO Market Segmentation
7. Healthcare BPO Market Regional and Country Analysis
8. Asia-Pacific Healthcare BPO Market
9. China Healthcare BPO Market
10. India Healthcare BPO Market
11. Japan Healthcare BPO Market
12. Australia Healthcare BPO Market
13. Indonesia Healthcare BPO Market
14. South Korea Healthcare BPO Market
15. Western Europe Healthcare BPO Market
16. UK Healthcare BPO Market
17. Germany Healthcare BPO Market
18. France Healthcare BPO Market
19. Italy Healthcare BPO Market
20. Spain Healthcare BPO Market
21. Eastern Europe Healthcare BPO Market
22. Russia Healthcare BPO Market
23. North America Healthcare BPO Market
24. USA Healthcare BPO Market
25. Canada Healthcare BPO Market
26. South America Healthcare BPO Market
27. Brazil Healthcare BPO Market
28. Middle East Healthcare BPO Market
29. Africa Healthcare BPO Market
30. Healthcare BPO Market Competitive Landscape and Company Profiles
31. Healthcare BPO Market Other Major and Innovative Companies
35. Healthcare BPO Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Healthcare BPO Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on healthcare bpo market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
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- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
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- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
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- Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for healthcare bpo? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered: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; Other Payer Services
3) By Pharmaceutical Service: Research and Development; Manufacturing; Non-clinical Service
Key Companies Mentioned: Google LLC; General Electric Company; SAP SE; THALES Group Inc.; Harris Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- Google LLC
- General Electric Company
- SAP SE
- THALES Group Inc.
- Harris Corporation
- Hexagon AB
- Trimble Inc.
- Fugro N.V.
- Maxar Technologies Ltd.
- Environmental Systems Research Institute Inc. (ESRI)
- Bentley Systems Incorporated
- Alteryx Inc.
- MDA Ltd.
- TomTom International BV
- Skydweller Aero Inc.
- PASCO scientific
- CartoDB S.L.
- SkyMap Global Inc.
- Descartes Labs Inc.
- Orbital Insight Inc.
- Mandalay Technology Inc.
- Intermap Technologies Corporation
- MapLarge Corporation
- Orbica Ltd.
- Geosite Corporation
- Advanced Risk Analytics Private Limited
- Geoviet Consulting Inc.
- GIS Co. Ltd.
- MapPoint Asia Pacific Pte. Ltd.
- TravelMap SAS
Methodology
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