Global Healthcare BPO Market Thrives, Set to Reach $490.84 Billion by 2027

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LONDON, GREATER LONDON, UK, December 25, 2023 /EINPresswire.com/ — The global healthcare Business Process Outsourcing (BPO) market is experiencing substantial growth, characterized by a detailed segmentation based on provider service, payer service, and pharmaceutical service.

Market Size and Growth Projection
The market size of the global healthcare BPO industry is witnessing significant growth, escalating from $276.59 billion in 2022 to $309.6 billion in 2023, showcasing an impressive Compound Annual Growth Rate (CAGR) of 11.9%. Moreover, the market is anticipated to burgeon to $490.84 billion by 2027, sustaining a robust CAGR of 12.2%.

Key Segments Driving Market Dynamics
1. Provider Service:
• Revenue Cycle Management
• Patient Enrollment and Strategic Planning
• Patient Care
2. Payer Service:
• Human Resource Management
• Claims Management
• Customer Relationship Management (CRM)
• Operational/Administrative Management
• Care Management
• Provider Management
• Other Payer Services
3. Pharmaceutical Service:
• Research and Development
• Manufacturing
• Non-clinical Service

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Major Players Shaping the Market Landscape
Leading the healthcare BPO market are major players including Accenture, Cognizant, Tata Consultancy Services, Genpact, HCL Business Services, IQVIA, IBM Corporation, GeBBS Healthcare Solutions, Xerox Corporation, NTT Data Corporation, Infosys BPM, Firstsource Solutions, Omega Healthcare, Invensis, and Wipro. These industry giants contribute to market growth through their extensive expertise in providing outsourced services.

Trends Driving Innovation: Technology Advancements
A key trend shaping the healthcare BPO market is the integration of technology advancements. Major players are focused on innovating outsourced services and expanding their application scope to fortify their market position. For example, in May 2020, IQVIA launched HCP/HCO Engagement Management, a transformative technology solution allowing users to plan, manage, contract, and pay Healthcare Professionals and Organizations (HCP/HCOs) globally. This technology integrates seamlessly with customers’ existing IT ecosystems, adapting to diverse business practices.

Regional Dynamics: North America Leads, Asia-Pacific Emerges Fastest-Growing
In 2022, North America emerged as the largest region in the healthcare BPO market, reflecting the region’s advanced healthcare infrastructure. Asia-Pacific is poised to be the fastest-growing region in the forecast period, signaling increasing awareness and adoption of healthcare BPO services. The comprehensive market report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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Healthcare BPO Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Healthcare BPO Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on healthcare bpo market size, healthcare bpo market drivers and trends, healthcare bpo market major players, competitors’ revenues, market positioning, and market growth across geographies. The healthcare bpo market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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