The global healthcare supply chain BPO market size is expected to reach USD 3.3 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.5% from 2020 to 2027. Rising demand for an efficient inventory management system and increasing efforts of healthcare providers to reduce costs and improve the quality of the supply chain are anticipated to propel the market growth.
Healthcare supply chain business process outsourcing (BPO) is a strategy adopted by the healthcare industries to increase their business by outsourcing their ancillary functions to third party organizations in order to reduce cost, transaction, and active processing. The major factors fueling the market growth are rising pressure to decrease the healthcare delivery cost, increasing prevalence of cardiovascular diseases, and the growing presence of experienced healthcare BPO service providers. With the increasing demand for healthcare, the outsourcing services are expected to provide various opportunities for the healthcare IT industries to poach on. Additionally, an increasing number of people pursuing insurance and consolidation of the healthcare system are the major factors fueling market growth.
North America held the largest share of 50.2% in 2019 and is expected to maintain its lead over the forecast period. Increasing adoption of offshore healthcare supply chain business process outsourcing and raising awareness with regards to cost implications are expected to drive the market in the region. In addition, increased technological development in the pharmaceutical sector and growing demand for healthcare IT services in the region are anticipated to propel market growth in the region.
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Healthcare Supply Chain BPO Market Report Highlights
• The transport management segment dominated the market with a share of 24.1% in 2019 due to increasing demand for healthcare services
• The manufacturing management segment is expected to expand at the fastest CAGR of 6.0% over the forecast period due to recent technological development and an increase in the demand for healthcare needs
• The biotechnology and pharmaceutical companies end-user segment is expected to witness significant growth over the forecast period due to the growing need for the medicines and cost-efficient production
• North America dominated the market in 2019 owing to the rising demand for transport management service.
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