Healthcare BPO market to grow by $12.9Bn by 2027
NEW YORK, UNITED STATES — The global healthcare Business Process Outsourcing (BPO) market is forecast to expand at a 9.13% compound annual growth rate (CAGR) between 2022 and 2027, increasing in size by $12.9 billion.
According to a new report by market research firm Technavio, key factors propelling growth include healthcare organizations‘ focus on reducing operational costs and improving efficiency.
The increasing number of BPO providers and the availability of skilled professionals with the expertise to take on complex tasks further stimulate demand.
The manufacturing segment, encompassing pharmaceutical, biotechnology, and medical device outsourcing, contributes significantly to market growth by enabling healthcare companies to optimize costs and leverage specialized expertise.
However, data security concerns pose a challenge, as breaches lead to losing sensitive patient information. Outsourcing companies are addressing this by emphasizing cybersecurity protocols.
Geographically, North America will account for 41% of total market growth, driven by improvements in regional healthcare infrastructure and spending. Increased availability of insurance and favorable reimbursement scenarios also boost the uptake of healthcare BPO services.
