What is the global market size of Healthcare BPO Market?

Healthcare BPO Market size was valued at USD 334.15 billion in 2021 and is poised to grow from USD 365.9 billion in 2022 to USD 755.76 billion by 2030, growing at a CAGR of 9.49% in the forecast period (2023-2030).

Healthcare BPO Market Size, Share, Growth Analysis, By Payer service(Claims management, integrated front-end services and back-office operations, member management, provider management), By Provider service(Revenue cycle management, patient care, patient enrolment and strategic planning), By Pharmaceutical service(Manufacturing services, research and development services, and non-clinical services), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35D2075 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 95 | Figures: 78

Healthcare BPO Market Regional Insights

North America is expected to dominate the global market during the forecast period. United States is expected to hold largest market revenue share of the North American region. Increasing awareness about outsourcing healthcare IT services and the strong presence of prominent market players are the factors that contribute to the regional market growth. Increasing governments initiatives further drives the market. For example, in Feb 2022, the Department of Health and Human Services awarded nearly USD 55 million to 29 HRSA-funded health centers to increase healthcare access. In addition, rising number of people seeking insurance, increasing pressure to reduce healthcare costs, pharmaceuticals companies facing patent cliffs and the mandatory implementation of ICD-10 codes are the major factors that help to drive the US BPO market which ultimately boost the growth of the North America BPO market.

Asia Pacific is expected to grow at the fastest rate during the forecast period due to mature pharmaceutical and medical education system, low-cost base, and large English-speaking population.

Healthcare BPO Market Report Snapshots

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Healthcare BPO Market size was valued at USD 334.15 billion in 2019 and is poised to grow from USD 365.9 billion in 2023 to USD 755.76 billion by 2031, growing at a CAGR of 9.49% in the forecast period (2024-2031).

The healthcare BPO market is moderately competitive and consist of several major players. The key players adopted the strategies such as mergers, partnerships, new product launches to strengthen their position in the market. The increasing need for mobile health and advances in healthcare systems are also helping few others players to enter the market with substantial share. 'Accenture', 'Cognizant', 'Genpact', 'Wipro', 'Infosys', 'HCL Technologies', 'IBM Corporation', 'Xerox Corporation', 'Capgemini', 'Tata Consultancy Services (TCS)', 'Conduent', 'Invensis Technologies', 'Omega Healthcare', 'Gebbs Healthcare Solutions', 'WNS Services', 'AGS Health', 'Firstsource Solutions', 'RR Donnelley & Sons Company', 'Sutherland Services', 'Allscripts Healthcare Solutions', 'In Jan 2022, NextGen Healthcare, an ambulatory technology company, planned to expand its portfolio in the RCM business.', 'In March 2022, CPSI, a healthcare solutions company, acquired Healthcare Resource Group., based in Spokane, Washington. HRG is a leading provider of customized RCM solutions and consulting services that enables hospitals and clinics to improve efficiency, profitability, and patient satisfaction.'

Increasing Pressure to Reduce Growing Healthcare Costs

The use of artificial intelligence automation in operations that prevents costly medical mistakes for healthcare providers on one hand and optimizing the use of assets in superior patient outcomes.

North America is expected to dominate the market during the forecast period. United States is expected to hold largest market revenue share of the North American region. Increasing awareness about outsourcing healthcare IT services and the strong presence of prominent market players are the factors that contribute to the regional market growth. Increasing governments initiatives further drives the market. For example, in Feb 2022, the Department of Health and Human Services awarded nearly USD 55 million to 29 HRSA-funded health centers to increase healthcare access. In addition, rising number of people seeking insurance, increasing pressure to reduce healthcare costs, pharmaceuticals companies facing patent cliffs and the mandatory implementation of ICD-10 codes are the major factors that help to drive the US BPO market which ultimately boost the growth of the North America BPO market.

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Healthcare BPO Market Regional Insights

Healthcare BPO Market Report Snapshots

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