Global healthcare BPO market to grow $12.9Bn by 2027

NEW YORK, UNITED STATES — The global healthcare Business Process Outsourcing (BPO) market is set to expand by $12.9 billion by 2027, growing at a Compound Annual Growth Rate (CAGR) of 9.13%. 

Market research firm Technavio attributed this growth to the presence of skilled workers and the cost-effective benefits of outsourcing.

Emerging market trends include using cloud-computing services for cost-efficient remote storage and better resource control. Through this, the manufacturing segment — which covers pharmaceuticals, biotechnology, medical devices, and related fields — is predicted to see significant growth.

North America will lead regional growth, contributing 41% of the market expansion due to its adoption of BPO services, improved healthcare infrastructure, and increased healthcare spending in the United States, Canada, and Mexico.

The report also highlights potential growth challenges, such as the risk of cyberattacks and sensitive patient information loss. Technavio recommends that service providers invest in robust cybersecurity protocols to mitigate these risks.