Top-down and bottom-up approaches were used to validate the size of the global Healthcare BPO market and estimate the size of various other dependent submarkets. Major players in the market were identified through secondary research and their market revenues were determined through primary and secondary research.
How the Market Growth looks like and Industry Segmentation?
Healthcare Outsourcing Market is estimated to grow at a CAGR of 10.2% from 2017 to 2022 to reach $312.43 billion by 2022 from $191.68 billion in 2017. Healthcare BPO Market by Outsourcing Approaches, Pharmaceutical (R&D, Manufacturing, Sales and Marketing Services (Performance Reporting, Forecasting)), Provider (Patient Care, RCM), Payer (Claims Repricing), Models (Multisourcing) – Global Forecasts to 2022.
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On the basis of pharmaceutical services, is segmented into manufacturing services, R&D services, and non-clinical services. The non-clinical services segment is expected to account for the highest CAGR during the forecast period. Factors like pricing pressure and the requirement of large field forces have further contributed towards the emergence of contract sales organizations in the pharmaceutical industry.
Major Market Growth Drivers in Depth:
1. Regulatory Changes in the US With the Implementation of Ppaca
2. Pressure to Reduce Rising Healthcare Costs
3. Demand for Niche Services
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How is the market performing in different regions across the globe?
India possesses lucrative growth potential for the Healthcare Outsourcing Market , by destination geography during the forecast period. Factors like a mature pharmaceutical and medical education system, large English-speaking population, low-cost base, large talent pool, and diverse set of business process outsourcing (BPO) providers, including local and multinational BPO companies, are driving the market in India.