The increasing number of hospitals and clinics and the growing cases of chronic illnesses around the world have augmented the healthcare outsourcing market. Ancillary activities that include member enrolment, physician enrolment, medical transcripts, medical billing, insurance assessment, and others are now being outsourced by hospitals worldwide in order to time and invest it on core functions of the institutions. According to a latest IndustryARC market research report, modeled on the concept of managed services, the healthcare outsourcing market is witnessing prominent growth and will reach the $229.2 billion mark in 2024, growing at a CAGR of 4.4%.
The report is titled ‘‘Healthcare Outsourcing Market: By Type (Healthcare Payer and Provider, Pharmaceutical, Pathology and Labs); By Region & By Geography – Forecast (2019-2024).’’ It contains information pertaining to segmentation of the market on the type of services that are outsourced, role of key market players in the development of the outsourcing market, and other parameters.z
Healthcare Outsourcing Market: Regional Analysis
The analyst of the report states that “healthcare centers, such as hospitals, have been outsourcing various ancillary tasks globally. Outsourcing enables hospitals to focus on their core task of providing efficient healthcare services. This factor will drive the market growth in the upcoming years.” Through this statement, the analyst clearly points out how hospitals around the world, especially the ones in developed nations, are gravitating towards outsourcing. Since the service sector is prominently rising in emerging economies such as India and China, developed nations are outsourcing their ancillary activities to agencies existing in these countries, thus funding their economies indirectly. This is a leading factor for the Americas to lead this market geographically as the healthcare centers in this region mostly outsource their services to emerging economies, especially those that are present in the Asia-Pacific region. In 2018, the Americas healthcare outsourcing market generated $88.99 billion in revenue.
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Healthcare Outsourcing Market: Regional AnalysisCompetitive Landscape
Further analysis of the report includes a detail study on companies that have made recent developments in the healthcare outsourcing market. These companies include HCL Technologies Limited, Firstsource Solutions Ltd., Accretive Health, Icon PLC, Patheon Inc., Hexaware Technologies Ltd., IBM Corporation, IDS Infotech Ltd., Infosys Limited, Omega Healthcare Holdings Inc., WNS Global Services Ltd., Sun Knowledge Limited, Tata Consultancy Services Limited, Tech Mahindra Limited, Wipro Limited, Siemens AG, Cognizant Technology Solutions Corporation, Inventiv Health Inc., Boehringer Ingelheim GmbH, Capgemini Group, Accenture PLC, Quintiles Transactional Inc., and Gebbs Healthcare Solutions Inc.
Healthcare Outsourcing Market: Recent Developments
· India-based HCL Technologies Ltd. has recently expanded to Philippines and enlarged its business by entering into partnerships with companies in other countries.
· Several strides made by Icon PLC are behind the selection of the company in the International Consortium for Health Outcomes Measurement to advance value-based healthcare.
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What can you expect from the report?
The Healthcare Outsourcing Market is Prepared with the Main Agenda to Cover the following 20 points:
1. Healthcare Outsourcing Market Size by Product Categories & Application
2. Healthcare Outsourcing Market trends & Relevant Market Data
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End-user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Healthcare Outsourcing MarketDemand Analysis (Revenue & Volume)
12. Country-level Analysis
13. Competitor Analysis
14. Healthcare Outsourcing MarketShares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Healthcare Outsourcing MarketStrategic Analysis
18. Healthcare Outsourcing MarketCurrent & Future Market Landscape Analysis
19. Opportunity Analysis
20. Healthcare Outsourcing market revenue and Volume Analysis
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