Healthcare BPO market to hit $492Bn by 2028
LONDON, ENGLAND — The global healthcare business process outsourcing (BPO) market is on track to reach $492.32 billion by 2028, growing at a compound annual growth rate (CAGR) of 11.3%.
A recent report by The Business Research Company attributed this growth to the increasing number of new drug developments and the crucial role healthcare BPO firms play in simplifying the process of bringing these drugs to market.
Another significant trend in the sector is the adoption of artificial intelligence (AI) in revenue cycle management (RCM), which is enhancing the efficiency and effectiveness of these processes.
The report also revealed that the market remains competitive, with key players such as UnitedHealth Group Incorporated, Accenture, IBM, Tata Consultancy Services, Cognizant, and IQVIA Holding leading the way with innovative solutions tailored to the healthcare industry’s needs.
Recent reports have shown rapid growth in the healthcare BPO market, projecting an increase from $288.95 billion in 2023 to $321.15 billion in 2024, with a CAGR of 11.1%.
Further projections by Fairfield Market Research and Exactitude Consultancy estimate the market could grow to between $430.5 billion and $673.5 billion by 2029-2030.
This expansion highlights the sector’s ability to adapt and thrive amidst evolving global health challenges driven by technological advancements and a worldwide demand for more efficient healthcare services.
