Medical Outsourcing Market Viewed As Crucial For Decreasing Global Medical Costs - IndustryARC Analysis

Medical Outsourcing Market Growth, Boosted by Rising Pharmaceutical Demand, Expected to Rise Significantly During the Forecast Period

Hyderabad, India, March 15, 2017 (GLOBE NEWSWIRE) -- The report “Medical Outsourcing Market: By Services (Payer, Provider, Pharmaceutical, Pathology, Information Technology); By End Users (Hospitals, Pharma Laboratories, Clinics) - Forecast (2016-2021)”, published by IndustryARC, estimates that North America will register the highest growth till 2021.

Browse 25 Market Tables, 84 Figures spread through 233 Pages and an in-depth TOC on “Medical Outsourcing Market 2016-2021  

Scope & Regional Forecast of the Medical Outsourcing Market:

Healthcare or Medical Outsourcing is a new trend that is garnering attention. Pharmaceutical companies and biotechnology companies are outsourcing medical work to countries such as India, Thailand and Philippines. In the wake of global economic meltdown, healthcare companies are focused on reducing the overall costs and outsourcing medical work to other countries helps in doing that.

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Pharmaceutical companies account for majority share in the Medical Outsourcing market. It is convenient for pharma companies to outsource activities such as clinical trials, drug discovery process and manufacturing of drugs. This has been because of a strong IT/BPO industry which has developed competencies for healthcare outsourcing through major acquisitions and mergers. However, the market is also facing challenges such as regulatory compliance, lack of infrastructure and the issue of data privacy. Most of the drugs on the market will face patent expiration in the next few years which has concerned the pharmaceutical companies about intellectual rights protection and patent infringement.

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Prominent Segmentations Involved in the Medical Outsourcing Market:
The Medical Outsourcing Market can be broken down into various segmentations on the basis of -

  • Services: Payer, Transactional Services (Claims Processing, Transaction Processing, Mailroom), Customer Care, Communication and Marketing Services, Member Recruitment, Communications Design and Consulting, Cost Avoidance, Audit and Payment Recovery (Litigation Services), Provider (Medical Billing, Medical Coding, Medical Transcriptions, Finance and Account, Improved process tracking and reporting, Pricing maintenance and configuration) Pharmaceutical (CRO Market (Lead identification & Lead optimization Phase, Biopharmaceutical Development, Biologic Assay Development, Pre-clinical phase) Clinical Research (Phase 1 clinical phase, Phase 2 clinical phase, Phase 3 clinical phase, Phase 4 clinical phase), Clinical Trials Management, Pharmacovigilance), Contract Manufacturing Organization (API Manufacturing, Formulation Development, Stability Studies, Method Development, Packaging), Data Management Services and Biostatistics, Non-Clinical Services (Medical Writing, Regulatory Compliance, Sales and Marketing, SCM and Logistics), Information Technology (IT Organizational Management, Infrastructure Technology Outsourcing, Data integration tools, Quality, safety and compliance solutions), Pathology (Transcription services, Testing protocols, Resource management).
  • End Users: Pharmaceutical Industries, Pharmaceutical Laboratories, Hospitals, Clinics, Research Institutes.
  • Geographic Location: Americas, Europe, Asia-Pacific and Rest of the World.

Some of the sample companies profiled in the Medical Outsourcing Market report are as follows:

  • Accenture
  • Genpact
  • Inventive
  • Cognizant Technology Solutions Corporation
  • Catalent
  • Boehringer Ingelheim 
  • Charles Rivers Laboratories
  • Newmark Grubb Knight Frank
  • Inventive Health Inc
  • Quintiles

Why buy this report?

  • Get a detailed picture of the Medical Outsourcing Market.
  • Pinpoint growth sectors and identify factors driving change.
  • Understand the competitive environment, the market’s major players and leading brands.
  • A five-year forecast method is used in order to assess how the market is predicted to develop.

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