Dublin, Aug. 30, 2023 (GLOBE NEWSWIRE) -- The "Global Healthcare Supply Chain BPO Market (2023-2028) by Payer Service, End User, and Geography, Competitive Analysis, Impact of Covid-19 and Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The global Healthcare Supply Chain BPO market is on a trajectory of substantial growth, with an estimated value of USD 3.5 billion in 2023, projected to reach USD 4.86 billion by 2028. This impressive growth is indicative of a Compound Annual Growth Rate (CAGR) of 6.78% during the forecast period.
Market Overview
Healthcare Supply Chain BPO (Business Process Outsourcing) plays a pivotal role in the healthcare sector, offering specialized external services to manage various aspects of the healthcare supply chain. This includes procurement, inventory management, logistics, and distribution. By outsourcing these functions, healthcare organizations can enhance efficiency, reduce costs, and shift their focus to core operations and patient care.
Market Dynamics
The burgeoning patient numbers, along with a rise in medical products and services, present a significant challenge for healthcare providers to manage their operations and inventory effectively. Healthcare Supply Chain BPO steps in to address this need, providing specialized skills and advanced technologies to optimize inventory, streamline processes, and ensure the timely availability of critical medical supplies. This improved operational efficiency has a direct positive impact on patient care.
As healthcare providers increasingly recognize the value of effective supply chain management, there is a growing demand for BPO services tailored to simplify operations and inventory management. BPO providers leverage best practices, data-driven analytics, and modern technology to reduce costs, enhance supply chain visibility, and minimize disruptions. This results in improved patient outcomes and overall healthcare operations.
The adoption of advanced technologies such as Artificial Intelligence (AI), machine learning, and cloud-based solutions is reshaping the healthcare supply chain landscape. Healthcare Supply Chain BPO providers are capitalizing on this trend by offering innovative technologies that improve inventory forecasting, logistics, and demand planning. The integration of AI-powered analytics provides real-time data insights, enabling informed decision-making and optimizing supply chain efficiency.
Market Segmentations
The market is segmented based on Payer Service (Inventory Management, Manufacturing Management, Order Management, Sustainability Services, Transport Management), End User (Academic and Government Research Institutes, Biotechnology & Pharmaceutical Companies), and Geography (Americas, Europe, Middle-East & Africa, Asia-Pacific).
Among these segments, Inventory Management holds a larger market share due to its critical role in optimizing costs and ensuring timely access to medical supplies. Biotechnology & Pharmaceutical Companies dominate the end-user segment, driven by their vast global operations and the need for efficient supply chain management.
Recent Developments
Recent developments include Celonis introducing a new app to assist supply chain leaders in improving end-to-end lead times, and TimesPro partnering with NITIE to launch a program in Digital Supply Chain Management.
Conclusion
The global Healthcare Supply Chain BPO market is poised for substantial growth, driven by increasing demand for efficient supply chain management in the healthcare sector. While challenges like concerns over hidden costs and loss of visibility exist, the integration of advanced technologies and the growing adoption of outsourcing create significant opportunities for BPO providers to contribute to the overall optimization of the healthcare industry.
Companies Mentioned
- Cognizant Technology Solutions
- Conduent, Inc.
- Eli Global
- Firstsource Solutions
- GEBBS Healthcare Solutions
- Genpact
- IBM
- Infosys
- Invensis Technologies
- IQVIA
- Lonza
- MiraMed Global Services, Inc.
- Omega Healthcare
- Parexel
- Quintiles IMS Holdings
- R1 RCM
- Sutherland Global Services
- Tata Consultancy Services
- Truven Health
- United Health Group
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 174 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $3.5 Billion |
| Forecasted Market Value (USD) by 2028 | $4.86 Billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/ny64ii
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