Trends You Need To Know In Healthcare BPO Market

Healthcare BPO 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. Patent cliffs, complex clinical trial protocols, and new reporting requirements are forcing pharmaceutical companies to outsource their R&D and manufacturing processes to other countries, which is driving the healthcare outsourcing market. 

According to the latest report “Healthcare BPO Market by Provider (RCM, Patient Care), Payer (Claims Repricing), Pharmaceutical (R&D, Manufacturing, Sales and Marketing Services (Forecasting, Performance Reporting)), Outsourcing Approaches, Models (Multisourcing) - Global Forecasts to 2022.”

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Research Methodology

Top-down and bottom-up approaches were used to validate the size of the global 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. Secondary research included the study of the annual and financial reports of top market players, whereas primary research included extensive interviews with key opinion leaders such as CEOs, directors, and marketing executives. The percentage splits, shares, and breakdowns of the segments were determined using secondary sources and verified through primary sources. This data is consolidated and added to detailed inputs and analysis from MarketsandMarkets and presented in this report.

India possesses lucrative growth potential for the healthcare BPO 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.

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The key players in the healthcare BPO market are Cognizant (US), Accenture (Ireland), Xerox (US), Genpact (Bermuda), TCS (India), and Infosys (India). These players focused on inorganic strategies such as acquisitions, agreements, and collaborations as well as organic strategies such as product launches and expansions to sustain their growth in the market.