Healthcare BPO Market Report 2024 (Global Edition)

Global Healthcare BPO Market Report 2024 Market Size Split by Payer Services Outlook: (Claims Management, Integrated Front-end Services and Back-office Operations, Member Management, Product Developme...

Healthcare BPO Market Report Description

We have various report editions of Healthcare BPO Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Healthcare BPO Market Insights Video

Competitive Landscape of the Healthcare BPO Market

In the Healthcare BPO market's competitive landscape, numerous key competitors are driving innovation and growth. Companies are adopting AI-driven solutions for tasks like medical coding, claims processing, and customer service to improve accuracy and efficiency. As healthcare becomes increasingly personalized, BPO providers that offer tailored services, such as specialized medical billing, customized claims management, or behavioral science-driven customer strategies, have a competitive advantage. As the demand for healthcare services continues to rise globally, the competition within the healthcare BPO market will intensify, making it crucial for companies to continuously innovate and deliver tailored solutions to meet the unique needs of healthcare organizations.

In March 2024, Cognizant Technology Solutions Corporation partnered with Microsoft to integrate advanced AI into healthcare administration, aimed at improving productivity and efficiency for both payers and providers. This collaboration focuses on ensuring timely responses and enhancing patient care. (Source: https://news.cognizant.com/2024-03-06-Cognizant-and-Microsoft-Collaborate-to-Power-the-Future-of-Healthcare-Administration-with-Generative-AI )

Top Companies Market Share in Healthcare BPO Industry: (In no particular order of Rank)

• Accenture plc. (Ireland)
• Cognizant Technology Solutions Corporation (US)
• Tata Consultancy Services Limited (India)
• Xerox Corporation (US)
• WNS (Holdings) Limited (India)
• Omega Healthcare Management Services (India)
• R1 RCM (US)
• Invensis Technologies (India)
• UnitedHealth Group (US)
• HCL Technologies Limited (India)
• NTT Data Corporation (Japan)
• Iqvia Holdings
• Inc (US)
• Mphasis (India)
• Genpact Limited (US)
• Wipro Limited (India)
• Infosys BPM (India)
• Firstsource (India)
• International Business Machines Corporation (US)
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Healthcare BPO Market

Which Region Dominates the Healthcare BPO Market in 2024?

According to Cognitive Market Research, North America currently dominates the Healthcare BPO market, and the region is expected to have significant growth during the projected period. North America, especially the U.S., is experiencing a rapid increase in its aging population, with a growing number of elderly individuals requiring ongoing healthcare services. According to the 2020 Census, the U.S. population aged 65 and older grew nearly five times faster than the total population over the 100 years from 1920 to 2020. In 2020, the older population reached 55.8 million, making up 16.8% of the U.S. population, a significant increase from 4.9 million (4.7%) in 1920. This represents a nearly 1,000% growth in the elderly population, compared to a 200% increase in the total population. In 2020, approximately one in six Americans was aged 65 or older. This demographic shift is driving higher demand for healthcare services, including chronic disease management, long-term care, and eldercare. To meet these needs, healthcare organizations are outsourcing administrative functions, enabling them to allocate more resources toward patient care while ensuring that routine back-office tasks are managed efficiently and cost-effectively. As a result, the healthcare BPO market is growing as healthcare providers turn to outsource solutions to address the challenges posed by an aging population.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). The expanding healthcare infrastructure in countries like China and India, fuelled by both government initiatives and private sector investments, is driving a higher demand for healthcare services. In 2023, the Indian healthcare industry reached a value of USD 372 billion, supported by both the private sector and government efforts. The number of registered allopathic doctors with recognized medical qualifications under the I.M.C Act grew to 1.308 million in June 2022, up from 0.83 million in 2010. Investments in sectors such as hospitals, diagnostic centers, and medical/surgical appliances totaled USD 9.81 billion and USD 3.26 billion, respectively, between April 2000 and December 2023. During 2022-23, Foreign Direct Investment (FDI) in India amounted to USD 70,970 million. As more hospitals, clinics, and healthcare systems are developed, these organizations are increasingly relying on healthcare BPO providers to handle administrative functions like medical billing, claims management, and customer support. Additionally, rising incomes, urbanization, and improved access to healthcare in emerging economies are driving up healthcare spending, further boosting demand for healthcare BPO services.

The current report Scope analyzes Healthcare BPO Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Healthcare BPO

According to Cognitive Market Research, the global Healthcare BPO market size was estimated at USD 396142.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 158457.0 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Healthcare BPO market with a market size of USD 125022.57 million in 2024 and is projected to grow at a CAGR of 7.9% during the forecast period. In the US, the demand for the Healthcare BPO Market is driven by rising costs of healthcare, and a growing aging population requiring extensive care.
• The Canada Healthcare BPO market had a market share of USD 19014.84 million in 2024 and is projected to grow at a CAGR of 8.9% during the forecast period. Canada’s increasing adoption of telemedicine and virtual healthcare services, driving the market.
• The Mexico Healthcare BPO market is projected to witness growth at a CAGR of 8.6% during the forecast period, with a market size of USD 14419.59 million in 2024.

Europe Healthcare BPO

According to Cognitive Market Research, the global Healthcare BPO market size was estimated at USD 396142.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 118842.7 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2031.

• The United Kingdom Healthcare BPO market had a market share of USD 19965.58 million in 2024 and is projected to grow at a CAGR of 9.2% during the forecast period. In the UK, Healthcare BPO sales witness an upswing due to the need to reduce administrative burdens, and the rising adoption of digital healthcare services, including telemedicine and electronic health records.
• The France Healthcare BPO market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 10933.53 million in 2024.
• According to Cognitive Market Research, the German Healthcare BPO market size was valued at USD 23530.86 million in 2024 and is projected to grow at a CAGR of 8.6% during the forecast period. In Germany, Healthcare BPO surged due to the country's focus on compliance with stringent data security and privacy regulations in healthcare operations.
• The Italy Healthcare BPO market is projected to witness growth at a CAGR of 7.8% during the forecast period, with a market size of USD 10220.48 million in 2024.
• The Russia Healthcare BPO market is projected to witness growth at a CAGR of 7.4% during the forecast period, with a market size of USD 18420.63 million in 2024.
• The Spain Healthcare BPO market is projected to witness growth at a CAGR of 7.5% during the forecast period with a market size of USD 9745.11 million in 2024
• The Luxembourg Healthcare BPO market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 3684.13 million in 2024.
• The Portugal Healthcare BPO market is projected to witness growth at a CAGR of 8.2% during the forecast period, with a market size of USD 2495.70 million in 2024.
• The Greece Healthcare BPO market is projected to witness growth at a CAGR of 8.7% during the forecast period, with a market size of USD 1426.11 million in 2024.
• The Rest of Europe's Healthcare BPO market is projected to witness growth at a CAGR of 7.1% during the forecast period, with a market size of USD 18420.63 million in 2024.

Asia Pacific Healthcare BPO

According to Cognitive Market Research, the global Healthcare BPO market size was estimated at USD 396142.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 91112.7 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.9% from 2024 to 2031.

• According to Cognitive Market Research, the China Healthcare BPO market size was valued at USD 41000.75 million in 2024 and is projected to grow at a CAGR of 11.4% during the forecast period. Healthcare BPO surged in China due to the country's large population, rising healthcare expenditure, the aging population, and the government's focus on improving healthcare accessibility and efficiency, prompting healthcare providers to outsource non-core administrative tasks.
• The Japan Healthcare BPO market is projected to witness growth at a CAGR of 10.4% during the forecast period, with a market size of USD 12573.56 million in 2024.
• The India Healthcare BPO market had a market share of USD 10933.53 million in 2024 and is projected to grow at a CAGR of 13.7% during the forecast period. India's expanding elderly population, increasing healthcare spending, and the need for cost-effective solutions to manage administrative functions such as claims processing and billing, are driving the market.
• The South Korean Healthcare BPO market is projected to witness growth at a CAGR of 11.0% during the forecast period, with a market size of USD 9111.28 million in 2024.
• The Australian Healthcare BPO market is projected to witness growth at a CAGR of 11.6% during the forecast period, with a market size of USD 4737.86 million in 2024.
• The South East Asia Healthcare BPO market is projected to witness growth at a CAGR of 12.9% during the forecast period, with a market size of USD 6286.78 million in 2024.
• The Rest of Asia Pacific Healthcare BPO market is projected to witness growth at a CAGR of 11.7% during the forecast period, with a market size of USD 6469.01 million in 2024.

South America Healthcare BPO

According to Cognitive Market Research, the global Healthcare BPO market size was estimated at USD 396142.5 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 19807.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.3% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Healthcare BPO market size was valued at USD 8477.45 million in 2024 and is projected to grow at a CAGR of 9.9% during the forecast period. Healthcare BPO flourished in Brazil due to the expansion of healthcare services, and the increasing adoption of digital healthcare solutions.
• Argentina's Healthcare BPO market had a market share of USD 3327.60 million in 2024 and is projected to grow at a CAGR of 10.2% during the forecast period. Argentina's efforts to modernize its healthcare system, and the need for cost-effective solutions to manage administrative tasks amid a growing demand for healthcare services, are driving the market.
• Colombia's Healthcare BPO market is projected to witness growth at a CAGR of 9.1% during the forecast period, with a market size of USD 1762.83 million in 2024.
• Peru Healthcare BPO market is projected to witness growth at a CAGR of 9.5% during the forecast period, with a market size of USD 1624.18 million in 2024.
• Chile Healthcare BPO market is projected to witness growth at a CAGR of 9.6% during the forecast period, with a market size of USD 1426.11 million in 2024.
• The Rest of Latin America's Healthcare BPO market is projected to witness growth at a CAGR of 8.4% during the forecast period, with a market size of USD 3188.95 million in 2024.

Middle East and Africa Healthcare BPO

According to Cognitive Market Research, the global Healthcare BPO market size was estimated at USD 396142.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 7922.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.6% from 2024 to 2031.

• The GCC Countries Healthcare BPO market is projected to witness growth at a CAGR of 10.4% during the forecast period, with a market size of USD 3390.98 million in 2024. Healthcare BPO sales flourish due to the growing medical tourism industry, increasing healthcare spending, and the need for cost-effective, efficient management of administrative tasks, such as patient management, billing, and scheduling.
• The Egypt Healthcare BPO market is projected to witness growth at a CAGR of 9.9% during the forecast period, with a market size of USD 831.90 million in 2024.
• The South Africa Healthcare BPO market is projected to witness growth at a CAGR of 10.6% during the forecast period, with a market size of USD 1251.81 million in 2024. Healthcare BPO sales flourished in South Africa due to the government healthcare initiatives, and a growing middle class seeking access to affordable, quality healthcare.
• The Turkey Healthcare BPO market is projected to witness growth at a CAGR of 9.1% during the forecast period, with a market size of USD 681.37 million in 2024.
• The Nigeria Healthcare BPO market is projected to witness growth at a CAGR of 8.7% during the forecast period, with a market size of USD 831.90 million in 2024.
• The Rest of the MEA Healthcare BPO market is projected to witness growth at a CAGR of 8.6% during the forecast period, with a market size of USD 934.90 million in 2024.

Healthcare BPO Market Analysis

How are Segments Performing in the Global Healthcare BPO Market?

Healthcare BPO Market Payer Services Segment Analysis

According to Cognitive Market Research, Claims Management is likely to dominate the Healthcare BPO Market over the forecast period. Healthcare expenses are on the rise globally, placing pressure on healthcare organizations to control costs while maintaining quality of care. Claims management plays a crucial role in ensuring that healthcare providers are reimbursed correctly and efficiently for the services they render. By outsourcing claims management to BPO providers, healthcare organizations can reduce the cost of managing claims internally and ensure faster processing, which helps improve cash flow and financial efficiency.

Product Development and Business Acquisition (PDBA) is the fastest-growing segment in the Healthcare BPO Market. The healthcare industry is experiencing rapid innovation, driven by advancements in medical technology, digital health solutions, pharmaceuticals, and personalized medicine. Healthcare companies, including pharmaceutical firms, medical device manufacturers, and health technology companies, are looking for external expertise and resources to accelerate their product development processes. Outsourcing product development to specialized BPO providers allows healthcare companies to leverage external expertise, reduce time-to-market, and optimize resources. BPO providers with specialized knowledge of healthcare regulations, R&D, and market needs are well-positioned to support the development of new healthcare products and services.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Healthcare BPO Industry. Request a Free Sample PDF!

Healthcare BPO Market Provider Service Segment Analysis

According to Cognitive Market Research, the Patient Enrolment & Strategic Planning segment holds the largest share of the market. The growing shift toward personalized and precision medicine has significantly impacted patient enrollment strategies. Healthcare providers and pharmaceutical companies are increasingly tailoring treatments to individual patients based on genetic, environmental, and lifestyle factors. As a result, clinical trials require a more detailed understanding of patient demographics, conditions, and medical histories. This increased complexity in patient selection is driving the need for specialized services in patient enrollment. BPO providers are supporting healthcare organizations with advanced strategies to identify, recruit, and retain the right patients for specific therapeutic areas, which is crucial for the success of personalized medicine initiatives.

In the Healthcare BPO Market, the Patient Care segment has been expanding at a rapid pace. As the global population grows and ages, there is an increasing demand for healthcare services. According to the World Health Organization (WHO), the global population aged 60 years or over is expected to double by 2050. This demographic shift is creating greater demand for healthcare services, particularly for chronic disease management, elderly care, and long-term healthcare. As a result, healthcare providers are under pressure to enhance their service delivery and provide more efficient, accessible, and personalized care. Outsourcing patient care functions to BPO providers helps organizations streamline their operations, reduce costs, and ensure high-quality service delivery to a growing number of patients. BPO providers assist in managing patient inquiries, care coordination, and follow-up services, enabling healthcare providers to focus more on direct clinical care.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Healthcare BPO Pharmaceutical Services Outlook: Segment Analysis

Healthcare BPO Market Pharmaceutical Services Segment Analysis

According to Cognitive Market Research, The R&D Services segment holds the largest market share. Pharmaceutical R&D is becoming more complex and costly, with the average cost of developing a new drug exceeding $2 billion in recent years. This includes expenses related to preclinical research, clinical trials, regulatory approvals, and post-marketing surveillance. Outsourcing R&D services to BPO providers enables pharmaceutical companies to manage these complexities more effectively by accessing specialized expertise, advanced technology, and scalable solutions. BPO providers offer cost-effective services such as drug discovery, clinical trial management, and pharmacovigilance, helping pharmaceutical companies streamline their operations and reduce R&D expenses.

In the Healthcare BPO market, the rapidly growing sector is the Manufacturing Services category. Manufacturing pharmaceuticals is resource-intensive, requiring substantial investment in facilities, equipment, workforce, and compliance. Outsourcing manufacturing services to BPO providers enables pharmaceutical companies to reduce capital expenditures and operational costs. BPO providers offer economies of scale, advanced technologies, and streamlined processes, making manufacturing more affordable while maintaining high-quality standards. Cost efficiency is a major driver for outsourcing in this segment.

• Manufacturing Services
• R&D Services
• Non-clinical Services
• Sales & Marketing Services
• SCM
• Other

Author's Detail

Anushka Gore

Research Associate at Cognitive Market Research

LinkedIn

Profile

Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.

Author's Conclusion