Soaring demand to drive $490Bn healthcare BPO market by 2027

LONDON, UNITED KINGDOM — The global healthcare business process outsourcing (BPO) market is projected to reach $490.84 billion by 2027, growing at a compound annual growth rate (CAGR) of 12.2% during the forecast period.

An industry report by The Business Research Company (TBRC) revealed that integrating advanced technologies and rising demand for specialized services propel the market’s growth.

Healthcare organizations face pressures to reduce costs, improve efficiency, and comply with complex regulations, which is compelling them to pursue outsourcing.

Other key growth drivers include rising demand for niche BPO services like revenue cycle management and clinical trial support, as well as the integration of technologies like automation and analytics to improve efficiency and value

North America currently holds the largest share of the global healthcare BPO market. However, the Asia-Pacific region is expected to see the fastest expansion at a 13.5% CAGR, owing to developments in healthcare infrastructure and spending in this region.

Leading providers like Accenture, Cognizant, Tata Consultancy Services, Genpact, and IBM are shaping the competitive landscape, contributing extensive expertise and constant innovation.

As patient expectations and costs continue rising, TBRC says healthcare organizations are expected to increasingly embrace outsourcing as a key strategy going forward. 

This trend is expected to expand the global healthcare BPO market toward nearly half a trillion in revenue in the next three years, the report added.