Study: Global healthcare BPO market to grow 21.4% through 2016

By eGov Innovation Editors | Jan 15, 2012

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The global healthcare BPO market is forecast to grow at a compound annual growth rate (CAGR) of 21.4 percent from 2011 to 2016, according to market research and consulting company Markets and Markets.

Pharmaceutical outsourcing is expected to contribute 64.3 percent to the industry, but will grow at a CAGR of only 14.6 percent from 2011 to 2016. Meanwhile, healthcare provider outsourcing would have the highest growth rate of 31.9 percent for the same period, but would account for only 15.7 percent of the total market.

The healthcare payer outsourcing market is expected to grow at about 30 percent in the forecast period, contributing to 20 percent to the total market. Claims processing, a costly function of the payer industry, has the highest share in the healthcare payer outsourcing market, accounting for 59 percent, followed by member services/customer care services.

Markets and Markets said disbursement and increasing competition forced many insurance companies to look at outsourcing to improve efficiencies and align resources towards the core functions of product development and innovation.

The major players in the payer and provider of healthcare BPO market are Accenture (Ireland), Medusind (US), GeBBS Healthcare (US), Omega Healthcare (India) and Inventive (US). The pharmaceutical outsourcing market is captured by players such as Quintiles (US), Covance (US), PPD (US), Parexel (US), Charles Rivers Laboratories (US) and ICON (Ireland) in the CRO space.