Healthcare BPO market to reach USD 430.5B

Global healthcare BPO market is poised for exponential growth in the upcoming years. As suggested by a new report by Fairfield Market Research, the market growth forecast for healthcare BPO industry anticipates a surge from approximately US$235.5 Bn attained in 2023 to a staggering US$430.5 Bn by the end of 2030. The market growth forecast marks a robust CAGR of 9% over the forecast period.

With the healthcare BPO market projected to witness substantial growth fueled by expanding outsourcing trends, increasing burden of chronic illnesses, and surging demand for cost reduction, stakeholders are presented with unprecedented opportunities to transform the healthcare landscape through innovative solutions and technological advancements.

The market is propelled by the expanding trend of outsourcing, where medical professionals, organisations, and institutions seek assistance with various administrative and clinical tasks. Notably, Access Healthcare has revolutionised healthcare outsourcing through automation, AI, and big data, enhancing clinical, administrative, and financial outcomes for healthcare organisations worldwide.

The rising burden of chronic diseases, and the expanding elderly population present significant growth opportunities for players in the healthcare BPO industry. Healthcare BPO companies are expected to see substantial growth as they cater to the increasing demand for managing patient and claim records efficiently, particularly amidst the aging population’s vulnerability to various illnesses.

The company’s analyst says, “With the growing demand for cost reduction in healthcare, outsourcing emerges as a strategic solution for cutting operational expenses. The proliferation of health insurance exchanges in the US has intensified pressure on healthcare payers, driving the adoption of outsourcing as a cost-saving measure and fueling the growth of the global healthcare BPO market”. Fairfield Market Research