Global Medical Outsourcing Market was valued at US $ XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) from 2018 to 2024.
Market Outline: Global Medical Outsourcing Market
Healthcare centers such as hospitals have been outsourcing various ancillary tasks globally. Information systems (IS) outsourcing is a major decision in healthcare that is extensively outsourcing by the healthcare organizations that creates a good market for vendors. Outsourcing for the hospitals enables them to focus on their core task to provide efficient healthcare services. The healthcare industry is considered to be resistant to the outsourcing services when compared to that of other industries that is generally due to the environment, cultural and regulatory factors.
Market Dynamics: Global Medical Outsourcing Market
Healthcare industry has become majorly data driven and the growing ability of the BPO vendors to discover hidden patterns and unknown correlations in data using big data or analytics are the major driving factors for the growth of the market over the forecasted period. In addition, increasing demand for better healthcare facilities and growing chronic diseases and health consciousness expected to offer significant growth for the medical outsourcing market. However, risk of losing sensitive data and the loss of confidentiality by outsourcing is expected to hinder the growth of this market during the forecast period.
Market Scope: Global Medical Outsourcing Market
Global medical outsourcing market is segmented based on Services Type and By End User
Based on Services, market is segmented into the following:
- Pharmaceutical Companies/CRO’s
- Information Technology
Based on End User, market is segmented into the following:
- Pharmaceutical Industries
- Pharmaceutical Laboratories
- Research Institutes
- Insurance Companies
Regional Analysis: Global Medical Outsourcing Market
Geographically, global medical outsourcing market is widespread into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America holds the major share due to the presence of top three companies that hold 45% of the market share and expanding collaborations and partnerships across the industries drives the growth of the medical outsourcing market. Asia Pacific and Latin America are expected to show significant growth due to the favorable microeconomic conditions like government regulations and financial conditions such as increasing investments. The Middle and Africa would show moderate growth over the forecast years
Competition Assessment: Global Medical Outsourcing Market
Some of the players in the global Medical Outsourcing market include:
- McKesson Group
- CGI Federal
- Emdeon Business Services LLC
New updates: Global Medical Outsourcing Market
- In January 2018, McKesson has completed its acquisition of RxCrossroads to support customer needs beyond the channel distribution as the industry faces increasing challenges, together they will better serve the broad market and individual customer needs by providing differentiated and customized solutions.