A new report released by Data Bridge Market Research predicts that the global business process outsourcing (BPO) market is poised to hit nearly USD420 billion by 2025 from USD191 billion last year. This represents a compound annual growth rate of 10.30% on the back of a rising need for structured process and documentations, increasing consolidation in the healthcare industry, among others. According to the report, the global healthcare BPO market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships and acquisitions to increase their footprints in the market. Regulatory changes and the hidden costs of outsourcing, are cited as among the major market growth restraints. The top key players in the market include Xerox Corporation, Hinduja Global Solutions, DSM Pharma, Accenture and Cognizant.
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