The size of the Europe Healthcare Business Process Outsourcing (BPO) Market was worth USD 48.67 Billion and is poised to reach USD 76.82 Billion by 2025 growing at a CAGR of 9.56% during the forecast period. Although healthcare represents only 5-10% of the total BPO deals in the market which is relatively low compared to other industries, such as financial services, banking, and manufacturing, the growth potential is high due to the demand for quality care.
Factors driving market growth include the rapid growth of clinical process outsourcing (CPO), the transition of healthcare companies to outsourcing with the implementation of PPACA, and some minor functions such as finance, accounting, and customer service.
Europe Healthcare BPO Market also includes significant factors like the increase in offshore outsourcing destinations and the acquisition of technology. Near Support has begun outsourcing business processes to BPO service providers in the region to provide companies with the benefits of cultural, time zone and language similarity and to help provide better quality services. The companies have begun to adopt a similar currency and regulatory system, focusing on protecting outsourcing and minimizing socio-economic risks. They may drive the growth and technology acquisition of offshore outsourcing destinations.
The cloud-based BPO will revolutionize the business outsourcing process and help healthcare organizations reduce costs, develop global delivery models, and provide secure data access. Due to its advantages, it is assumed that cloud-based BPO services will be increasingly adopted in the future. Therefore, these factors are creating immense opportunities for the growth of the European healthcare BPO market.
In the Europe Healthcare BPO Market, the growing demand for mobile healthcare and advances in healthcare systems will help other small businesses to enter the market with a large share. The high costs and reduced productivity associated with pharmaceutical R & D and production have forced large pharmaceutical companies to outsource business processes. However, data security and privacy issues, unforeseen costs, and differences in local regulatory procedures have restrained the growth of the European healthcare BPO market.
The healthcare business process outsourcing market is moderately competitive and consists of several key players. In terms of market share, few significant players currently dominate the market, grabbing the major profits compared to new entrants.
European Healthcare BPO Market segmented and sub-segmented into the following categories:
Among these, United Kingdom holds the largest share, while Germany is expected to have the highest growth rate in the coming years. High healthcare expenditure, increasing disposable income, well-developed healthcare sector and increasing government support are the major driving factors of the UK Healthcare BPO market growth. To maintain data, countries need electronic tracking devices/system to keep the patients and medical records. UK is the maximum share spending country of its GDP in healthcare as compared to other countries in Europe. It is expected to be the highest mounting market growth in the forecast period for healthcare IT in Europe.
Healthcare BPO market in Germany and France are following the UK in leading the highest shares of the market by owing to the growing number of people suffering from chronic diseases. Creating awareness through digital advertisements is also elevating the growth rate of the market.
Top Companies occupied the majority of the shares in the Europe Healthcare BPO Market in the recent past are Infosys BPO Ltd., Cognizant Technology Solutions Corporation, Genpact Limited, Tata Consultancy Services Ltd., Accenture PLC and Xerox Corporation.
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Provider Service
5.1.1 Medical Billing
5.1.2 Medical Coding
5.1.3 Medical Transcription
5.1.4 Finance & Accounts
5.2 By Payer Service
5.2.1 Claims Management
5.2.2 Integrated Front-end Services and Back-office Operations
5.2.3 Member Management
5.2.4 Provider Management
5.2.5 Billing and Accounts Management
5.2.6 Analytics and Fraud Management
5.2.7 HR Services
5.3 By Pharmaceutical Service
5.3.1 Research and Development
5.3.2 Manufacturing
5.3.3 Non-clinical Services
5.3.3.1 Sales and Marketing services
5.3.3.2 Supply Chain Management
5.3.3.3 Other Non-Clinical Applications
6. Geographical Analysis
6.1 Introduction
6.2 U.K
6.3 Spain
6.4 Germany
6.5 Italy
6.6 France
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Accenture PLC
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Cognizant Technology Solutions Corporation
8.3 Tata Consultancy Services Ltd.
8.4 Infosys BPO Ltd.
8.5 Xerox Corporation
8.6 Accretive Health, Inc
8.7 Genpact Limited
8.8 Quintiles Transnational Holdings, Inc
8.9 IBM Corporation
8.10 Lonza Group Ltd.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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Feb 2020
