Healthcare BPO Market Size and Growth 2021, CAGR Value, Top Players with Share and Revenues, Industry Trends, Business Strategies and Challenges till 2030

In a recently published report, Healthcare BPO Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Healthcare BPO Market products.

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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.

Global Healthcare BPO Market valued approximately USD 191.70 billion in 2017 is anticipated to grow with a healthy growth rate of more than 9.50% over the forecast period 2018-2025. The Healthcare BPO Market is continuously growing in the global scenario at significant pace. Healthcare BPO is a process which includes the business process outsourcing of particular operational requirements to most suited third party vendors.

Healthcare BPO is a solution for clients to adopt intelligent approaches that will support the organization by reducing the cost pressures and increasing the overall productivity. Healthcare BPO market provides various solutions, such as customer account setup, front end services, billing and account receivables, enrollment services, provider network services, claims services, membership services, Medicare services and pharmacy benefits management. escalating pressure on healthcare providers to lower the cost of healthcare and regulatory changes and rapid increase in clinical process outsourcing are the substantial driving factors of the market during the forecast period. Additionally, increase in merging in healthcare BPO sector is another major factor which is likely to boost the growth of the market during the forecast period.

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Moreover, increasing consolidation in healthcare industry is the major factors that likely to create numerous opportunity in the near future. However, shortages of trained expertise, complex regulation and concerns associated with data privacy & security are the factors that limiting the growth of the market across the world.

The regional analysis of Global Healthcare BPO Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share due to increasing prevalence of regulatory scenario and pressure on healthcare institutions to reduce costs in the region. North America is estimated to grow at stable growth rate in the global Healthcare BPO market over the upcoming years. Further, Asia-Pacific anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025 owing to increasing awareness regarding various healthcare infrastructure across the region.

The major market player included in this report are:
Tata Consultancy Services
WNS (Holdings)
Xerox
Quintiles IMS Holdings
Omega Healthcare
Invensis Technologies
Infosys
IBM
Cognizant Technology Solutions
Accenture

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Payer Services:

Claims Management
Integrated Front-end Services and Back-office Operations
Member Management
Product Development and Business Acquisition (PDBA)
Provider Management
Care Management
HR Services
Billing & Accounts Management Services

By Provider Services:

Revenue Cycle Management
Patient Enrolment & Strategic Planning
Patient Care

By Pharmaceutical Service:

Manufacturing Services
R&D Services
Non-clinical Services

By Regions:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World

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Furthermore, years considered for the study are as follows:

Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025

Target Audience of the Global Healthcare BPO Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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