APAC Healthcare BPO Market

APAC Healthcare BPO Market Size & Growth (2023 to 2028):

The size of the Asia Pacific Healthcare Business Process Outsourcing market was estimated at USD 33.41 Billion in 2023. It is poised to reach USD 61.06 Billion by 2028, growing at a CAGR of 12.82% during the forecast period.

DRIVERS:

The APAC healthcare BPO market is growing as there is a rapid increase in the outsourcing of clinical processes and less errors in non-critical functions like finance, accounting and customer service etc. In addition, a growing number of people seeking insurance, the pressure to reduce the costs of delivering healthcare, and pharmaceutical companies facing patent hurdles are major factors in the growth of the BPO market. In order to mitigate losses and reduce the risk of fraud, services are outsourced so that they can be performed by trained professionals. The fact that Business Process Outsourcing (BPO) allows companies to focus on their core competencies and improve their business acts as a key growth engine for the market.

This will save hospitals and service providers time and money, and help patients obtain quality services. These factors are expected to proliferate in the market

RESTRAINTS:

However, the risk of losing control over outsourced services, apprehension about the quality of service provided, and threat of data breach are expected to slow the growth of the market. There is a risk of losing control over the service being outsourced because the central organization no longer manages it.

OPPORTUNITIES:

Various companies are considering BPO as a solution to meet their back-end needs. Outsourcing of services not only allows organizations to focus on their core competencies, but also ensures profitability and efficient management of time and resources. Increased flexibility, quality of service, productivity and workload management are some of the additional benefits of outsourcing business operations. All of these factors are positively influencing the growth of the Asia-Pacific Business Process Outsourcing Market.

The growing establishment of call centers and customer service centers in the region is also expected to drive the growth of the regional market. The emergence of next-generation services like big data analytics, cloud services, and robotic process automation are some of the other factors that are fueling the growth of the BPO market in Asia-Pacific.

CHALLENGES:

In addition, there are apprehensions as to the quality of the services offered because the third party could not be invested or also concerned by the provision of solutions or recourse to the agreed party as much as to the central organization. In addition, there is the risk of data security. These factors challenge the growth rate.

This research report on the APAC Healthcare BPO Market segmented and sub-segmented into the following categories:

By Provider Service:

• Medical Billing
• Medical Coding
• Medical Transcription
• Finance & Accounts

By Payer Service:

• Claims Management
• Integrated Front-end Services
• Back-office Operations
• Member Management
• Provider Management
• Billing and Accounts Management
• Analytics and Fraud Management
• HR Services

By Pharmaceutical Service:

• Research and Development
• Manufacturing
• Non-clinical Services
  • Sales and Marketing services
  • Supply Chain Management
  • Other Non-Clinical Applications

By Country:

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

REGIONAL ANALYSIS

The Philippines is expected to become one of the top outsourcing destinations in APAC region mainly for outsourcing tasks such as customer service, call center, data entry, and human resource services among others.

The penetration of several small BPO service providers coupled with growing government support is expected to boost Singapore's BPO market. For example, the Singapore government hopes to transform the country into a high value-added BPO hub and expand its presence in the financial sector.

In the coming years, Asia-Pacific would experience remarkable growth in the healthcare BPO market as it is developing at a very rapid pace and has shown the emergence of many regional companies in countries such as India and China etc.

Some of the major companies operating in the Asia-Pacific Healthcare Business Process Outsourcing market are Infosys BPO Ltd., Cognizant Technology Solutions Corporation, Genpact Limited, Xerox Corporation. Tata Consultancy Services Ltd. and Accenture PLC.