Global healthcare BPO market is projected to reach USD 468.5
billion by 2026 from USD 296.4 billion in 2021, at a CAGR of 9.6% during the forecast
period. Healthcare business process outsourcing, is a process that is delegated
to an outside provider.
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Growth in this market is primarily driven by the need to
reduce rising healthcare costs and the implementation of the Patient Protection
and Affordable Care Act (PPACA) are compelling payers and providers to
outsource their business processes to low-cost countries in order to reduce
their operational costs.
Market Segmentation
Based on type, the Healthcare BPO market is segmented
into manufacturing, R&D, and non-clinical services. The manufacturing
services segment is expected to account for the largest share of 55.6% of the
healthcare BPO market in 2021. This can be attributed to the constantly changing
regulations on testing and clinical trials, the need to reduce overall
operational costs and increasing focus on accelerating the drug development
process while maintaining high levels of safety and control.
Regional Analysis
North America dominated the healthcare BPO market, with a
share of 48.6% in 2020, and is expected to register the highest CAGR of 10.6%
during the forecast period. The large share of the North American market can be
attributed to the increased pressure to reduce healthcare costs and improve
services and changing government regulations in the healthcare industry.
Key Market players
Some of the prominent players operating in the Healthcare
BPO market are Accenture (Ireland), Cognizant (US), Tata Consultancy Services
(India), Xerox Corporation (US), WNS (Holdings) Limited (India), NTT Data
Corporation (Japan), IQVIA (US), Mphasis (India), Genpact (US), Wipro (India),
Infosys BPM (India), Firstsource Solutions (India), IBM Corporation (US), HCL
Technologies (India), Sutherland Global (US), GeBBS Healthcare Solutions (US),
Lonza (Switzerland), Omega Healthcare (India), R1 RCM (US), Invensis
Technologies (India), UnitedHealth Group (US), Sykes Enterprises (US), Parexel
International (US), Access Healthcare (US), and Akurate Management Solutions
(US), among others
Accenture was the largest player in the healthcare
BPO market. Being a pioneer in the healthcare BPO, Accenture has successfully
established a brand of its own. The company was founded in 1989 and is
headquartered in Dublin, Ireland
Frequently Asked Questions (FAQ):
·
What is the market size of the healthcare BPO
market?
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What are some of the major drivers for this
market?
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Who are the major players in the healthcare BPO
market?
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What is the impact of COVID-19 on the healthcare
BPO market?
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Which region has the highest growth potential in
the healthcare BPO market?