Portland, OR, June 26, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Healthcare BPO Market By Services Type (Provider Outsourcing Services, Payer Outsourcing Services, Operational Outsourcing Services, and IT Infrastructure Management Services), By End User (Healthcare Providers, Healthcare Payers, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global healthcare BPO market was valued at $121,591.84 million in 2022, and is projected to reach $282,284.75 million by 2032, registering a CAGR of 8.7% from 2023 to 2032.
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Prime determinants of growth
An increase in demand for cost-effective business operations, the advancement in BPO services such as integration of artificial intelligence (AI), big data and data analytics drive the growth of the global healthcare BPO market. However, the concern related to patient data safety restricts the market growth. Moreover, a rise in a number of key players and developing economies presents new opportunities in the coming years.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $121.5 billion |
| Market Size in 2032 | $282.2 billion |
| CAGR | 8.7% |
| No. of Pages in Report | 237 |
| Segments Covered | Services Type, End User, and Region. |
| Drivers | An increase in increase in demand for cost effective BPO services The advancements in BPO services. |
| Opportunities | A rise in the number of key players and a rise in the adoption of Healthcare BPO. |
| Restraints | The Concerns related to patient data safety. |
Covid-19 Scenario
- The outbreak of the Covid-19 pandemic had a positive impact on the global healthcare BPO market, owing to the increase in the adoption of online and virtual services.
- The companies are more focused on virtual business operations, even in the post-pandemic.
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The provider outsourcing services segment to maintain its leadership status throughout the forecast period.
Based on the service type, the provider outsourcing services segment held the highest market share in 2022, accounting for two-fifths of the global healthcare BPO market and is estimated to maintain its leadership status throughout the forecast period. The increase in adoption of healthcare BPO services by healthcare organizations is the major factor that propels the growth of the segment across the globe. In addition, an increase in the number of key players drives the growth of the market. However, the operational outsourcing services segment is projected to manifest the highest CAGR of 9.4% from 2023 to 2032. It is notably done in the U.S., Canada, and Western European countries. Emerging countries such as Brazil, Russia, India, and China offer promising opportunities for the plants segment market.
The Healthcare Providers segment to maintain its leadership status throughout the forecast period.
Based on end user, the healthcare providers segment held the highest market share in 2022, accounting for nearly half of the global healthcare BPO market revenue and is estimated to maintain its leadership status throughout the forecast period. However, the others segment is projected to manifest the highest CAGR of 9.4% from 2023 to 2032, owing to the rise in the adoption of BPO services.
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North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global healthcare BPO market revenue and is likely to dominate the market during the forecast period. The increase in the adoption of BPO services contributes to the growth of the Healthcare BPO market in North America. However, the Asia-Pacific region is expected to witness the fastest CAGR of 10.0% from 2023 to 2032. The rise in demand for cost-effective services, owing to the presence of high-potential markets such as India and China, is expected to drive the growth of the Healthcare BPO market.
Leading Market Players: -
- ACCENTURE
- GEBBS HEALTHCARE SOLUTIONS
- TATA CONSULTANCY SERVICES LTD.
- IQVIA
- COGNIZANT
- R1 RCM INC.
- WIPRO
- GENPACT LTD.
- INVENSIS TECHNOLOGIES PVT LTD
- INFOSYS BPM LIMITED
The report provides a detailed analysis of these key players in the global healthcare BPOs market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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