Report updated on 11th September, 2021: Global Healthcare BPO Market By Type (Healthcare Payer BPO , Healthcare Provider BPO , and Healthcare Pharmaceutical BPO), By Application, By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2030 (Includes Business Impact of COVID-19)
Trusted Business Insights has published a comprehensive market research report on, Global Healthcare BPO Market by service type (Healthcare Payer BPO, Healthcare Provider BPO, Healthcare Pharmaceutical BPO and Others) and by Region -Global Forecast to 2030, which offers a holistic view of the global healthcare BPO market through systematic segmentation that covers every aspect of the target market.
The global healthcare BPO market is projected to be US$ 238.7 Mn in 2020 to reach US$ 599.7 Mn by 2030 at a CAGR of 9.7%.
Over the past few years, biotechnology, biopharma and pharmaceutical industries have been transforming by the growth of biopharma outsourced services (BPOs). These services have now become vital for the beginning of the journey of drug to the market. The BPOS industries are considered to be growing with twice the growth rate than that of the Bio/Pharma industries.
Increasing healthcare expenditure and growing dependence on technology in healthcare IT sector is expected to boost the market. Increasing outsourcing of healthcare services is expected to fuel growth of the target market. However, there are many hidden costs in the outsourcing which is expected to hinder growth of the target market.
Global Healthcare BPO Market Revenue (US$ Mn), 2021 to 2030
Global healthcare BPO market is segmented on the basis on service type and region. On the basis of service type, the market is segmented into Healthcare Payer BPO, Healthcare Provider BPO, Healthcare Pharmaceutical BPO and Others. The Healthcare Pharmaceutical BPO segment accounts for the majority share in the global healthcare BPO market, while healthcare provider BPO is expected to register the highest growth rate over the forecast period.
Global Healthcare BPO Market by Service Type, 2018
On the basis of region, the market is segmented into United States, Europe, China, Japan, Southeast Asia, and India. The United States accounts for the majority share in the global healthcare BPO market. Emerging economies such as China, Southeast Asia and India are expected to register the highest growth rate over the forecast period. Countries and regions such as Japan and Europe are expected to register stable growth over the forecast period.
The research report on the global healthcare BPO market includes profiles of some of major companies such as IQVIA Holdings Inc., HCL Technologies Ltd., Cognizant Technology Solutions Corp, Covance Inc., Accenture plc, Lonza Group Ltd.., Genpact Ltd. and Catalent Inc.
Key Market Segments
By Provider Service
- Revenue Cycle Management
- Patient Enrollment
- Patient Care
- Medical Transcription
- Medical Imaging
- Device Monitoring
By Payer Service
- Claims Management
- Claims Adjudication Services
- Claims Settlement Services
- Information Management Services
- Claims Repricing
- Claims Investigation Services
- Claims Indexing Services
- Fraud Detection & Management
- Product Development & Business Acquisition (PDBA)
- Member Management
- Provider Management
- Care Management
- Integrated Front-End Services and Back-office Operations
- Billing and accounts management services
- HR Services
By Life Science Service
- Manufacturing
- R&D
- Non-Clinical Services
- Supply Chain Management & Logistics
- Sales and Marketing Services
- Forecasting
- Performance Reporting
- Analytics
- Research
- Marketing
- Other Non-Clinical Services
Key Market Players included in the report:
- Accenture plc
- Access Healthcare (US)
- AGS Health Inc.
- Akurate Management Solutions (US).
- Catalent
- Cognizant Technology Solutions Corp
- Conduent
- Covance Inc.
- EXLService
- Firstsource Solutions (India)
- GeBBS Healthcare Solutions (US)
- Genpact (US)
- HCL Technologies Ltd.
- IBM Corporation (US)
- Infinit Healthcare
- Infosys BPM (India)
- Invensis Technologies (India)
- IQVIA Holdings Inc.
- Lonza (Switzerland)
- Mphasis (India)
- NTT Data Corporation (Japan)
- Omega Healthcare (India)
- Pacific Ventures
- Parexel International (US)
- R1 RCM (US)
- Sutherland Global (US)
- Sykes Enterprises (US)
- Tata Consultancy Services (India)
- UnitedHealth Group (US)
- Wipro (India)
- WNS (Holdings) Limited (India)
- Xerox Corporation (US)
Below are the key development related to Healthcare BPO Market in 2020 and 2021.
June 2021: Hinduja Global soars on talk of healthcare arm’s stake sale deal. Shares of Hinduja Global Solutions (HGS) rallied more than 6% the Company has finalised the deal to sell a stake its healthcare vertical to private equity players.
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June 2021: Sykes Enterprises, Incorporated to be Acquired by Sitel Group® in All-Cash Transaction. Highly complementary combination to create a leading global CX offering with a wide breadth and depth of services, strong client relationships and considerable opportunities for employees worldwide. Transaction was unanimously approved by both companies’ Boards of Directors. Sykes Enterprises, Incorporated ("SYKES" or the “Company”) (NASDAQ: SYKE), a leading full life cycle provider of global customer experience management services, multichannel demand generation and digital transformation, and Sitel Group®, a leading global provider of customer experience (CX) products and solutions, announced they have entered into a definitive merger agreement in which Sitel Group, through a wholly owned subsidiary, will acquire all of SYKES’ outstanding shares of common stock at a purchase price of $54 per share in a transaction valued at approximately $2.2 billion on a fully diluted basis. The purchase price represents a premium of 31.2% over SYKES’ closing price on June 17, 2021, and a premium of 29.1% over the 30-day volume-weighted average price of SYKES’ common stock.
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December 2020: Brookfield to acquire Everstone’s BPO platform Everise. Canadian alternative investment firm Brookfield Asset Management Inc. has agreed to acquire a majority stake in private equity firm Everstone Capital’s business process outsourcing platform Everise. The Canadian investor will make the acquisition through its publicly traded unit Brookfield Business Partners, the firms said in a statement. They didn’t disclose the deal size. However, multiple media reports pegged the deal value at $450 million.
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