Article -> Article Details
Title | Healthcare BPO Market : SWOT Analysis, New Project Investment Feasibility |
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Category | Fitness Health --> Pharmacy |
Meta Keywords | Healthcare BPO Market |
Owner | vinit |
Description | |
Market Overview The Global Healthcare
BPO Market 2020 is poised to register 12.3% CAGR to
reach USD 449.623 billion till 2023. Market Highlights A variety of trends are gaining momentum in the global
healthcare BPO industry, such as the the percentage of geriatrics in the global
population, the prevalence of target diseases, the the need for early diagnosis
of incurable diseases, and the launch of innovative technologies. The lack of a
predefined legislative system, on the other hand, greatly impedes the inflow of
demand for BPO healthcare. Nevertheless, with an increasing demand for
point-of-care research, back office operations, as well as customised
medication, the healthcare BPO market share is increasingly expanding and the
introduction of cost-effective laboratory tests and advanced analytical solutions
is expected to open up new possibilities for this market's traders. The pharmaceutical services bpo market is also poised to
benefit from the vast increase in pharmaceutical industry funding from
government, public and private bodies to develop an effective cure for the vast
number of chronic diseases affecting the global population. The global
healthcare outsourcing market is also driven by strict regulations on the
safety of drug development procedures and efficiency of quality control and
quality assurance guidelines governing the pharmaceutical and associated
industries in a number of developed economies. Regional Overview In the report for regions such as North America, Europe,
Asia Pacific, Latin America and the Middle East and Africa, the global healthcare
BPO market has been examined from a geographical point of view. In terms of growth opportunities as well as trends in the
healthcare BPO sector, the North American market has remained at the forefront
of these over the years. The area is also expected to continue to account for a
considerable part of the revenue pie over the next several years, thanks to the
presence of many pharmaceutical and bioscience firms and the presence of
several leading players in the healthcare BPO sector. In addition, high
healthcare expenditure, the concentration of leading players and the high rate
of adoption of advanced technology in the field of healthcare BPO An important
driver is widening government support for the development of the healthcare
sector. In addition, market growth over the corresponding period will be
boosted by demand for niche services and increasing cost savings. During the forecast period, Europe is expected to account
for the second-largest market share. In 2016, the region accounted for a 21.1%
share in the global BPO market for healthcare. high healthcare revenues,
increasing government support, and a well-developed healthcare sector are
contributing to the European healthcare bpo market opportunities. Due to the growing demand for software for smooth
functioning in the healthcare sector and the increasing collaboration between
the healthcare and IT sector, Asia-Pacific is estimated to be the
fastest-growing region in the global market. India, Japan, China, Australia,
the Republic of Korea and the rest of Asia Pacific constitute the Asia Pacific
market. Factors that ignite growth pockets are rapidly advancing healthcare,
high healthcare spending, developing healthcare industries organisations and
improving technology in the Asia Pacific market. A CAGR of 8.8 percent over the
forecast period is projected to capture the market in China. The healthcare BPO market in the Middle East and Africa is
projected to expand due to the growing presence of healthcare BPOs in Saudi
Arabia, Kuwait, and the UAE. Competitive Dashboard The eminent players in the global healthcare BPO market
are IBM (US), ACCENTURE (Ireland), Cognizant (US), Sykes (US), HCL
(India), QUINTILES (US), and INFOSYS (India). |