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The Business Research Company's Healthcare BPO Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
It will grow to $560.2 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%.” - The Business Research Company
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The healthcare BPO market has experienced significant growth in recent years. It is projected to expand from $308.43 billion in 2023 to $344.4 billion in 2024, reflecting a compound annual growth rate (CAGR) of 11.7%. Factors contributing to this growth during the historical period include concerns regarding data security, the globalization of healthcare services, the expansion of the healthcare industry, cost pressures within the sector, and changes in healthcare regulations.
Global Healthcare BPO Market Size: What Are the Forecasts for Market Growth and Annual Expansion?
The healthcare BPO market is anticipated to experience significant growth in the coming years. It is projected to reach $560.2 billion by 2028, with a compound annual growth rate (CAGR) of 12.9%. This growth during the forecast period can be linked to factors such as remote patient monitoring, an increasing demand for data analytics, the integration of AI and automation, advancements in revenue cycle management, and support for precision medicine.
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What Are The Key Growth Drivers In The Healthcare BPO Market?
The swift rise of clinical process outsourcing is a major factor propelling the growth of the healthcare BPO market. Clinical process outsourcing encompasses administrative tasks within the healthcare sector that require or benefit from clinical knowledge. The growth in outsourcing clinical trials is attributed to the increasing number of drugs progressing into clinical phases, as companies reducing their workforce seek the assistance of contract research organizations (CROs) to manage their portfolios effectively.
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Who are the Key Industry Players Stepping Up in the Healthcare BPO Market?
Key players in the healthcare bpo market include Google LLC, General Electric Company, SAP SE, THALES Group Inc., Harris Corporation, Hexagon AB (publ), 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.
What Trends Are Shaping The Growth Of The Healthcare BPO Market Size?
Key players in the healthcare BPO market are creating innovative cloud-based solutions to enhance their profitability. These cloud-based solutions optimize data and application management by leveraging the power of cloud computing platforms via the internet.
What Are the Different Segments of the Global Healthcare BPO Market?
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
Geographical Insights: North America Leading The Healthcare BPO Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition Of The Healthcare BPO Market?
Healthcare BPO involves the processes in which healthcare organizations outsource specific business functions to external service providers. It encompasses the practice of healthcare entities contracting non-core business activities to outside vendors.
The Healthcare BPO Global Market Report 2024 from The Business Research Company includes the following key information:
. Market size data for both historical and future periods
. Analysis of both macro and microeconomic factors that have impacted the market over the past five years
. Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
. Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Healthcare BPO Market Report: Trends, Opportunities, Strategies, and More
The Healthcare BPO Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into healthcare bpo market size, healthcare bpo market drivers and trends, healthcare bpo competitors' revenues, and healthcare bpo market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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Oliver Guirdham
The Business Research Company
+44 20 7193 0708
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