According to the new market research report by IndustryARC titled “Medical Outsourcing Market: By Services (Payer, Provider, Pharmaceutical, Pathology, Information Technology); By End Users (Hospitals, Pharma Laboratories, Clinics); By Geography – Forecast (2018-2023)”, the market registers a healthy growth due to the rising ‘cardio-patient population’ along with hypertension cases across the globe.
In 2017, the revenue of Medical Outsourcing market was $276.46 billion, and is expected to grow with a CAGR of 2.5% to reach $319.46 billion by 2023. Global medical outsourcing market for pharmaceutical OEMs in 2017 is estimated to be $117.59 billion, and projected to grow at a CAGR of 1.3% to reach $127.07 billion by 2023.
Americas continues to lead the market share during 2018-2023.
The Americas is the region with the largest market share of Americas 45%, closely followed by Europe at 31%. The Medical Outsourcing market of Americas is forecast to grow with a CAGR of 2.2% from $123.19 billion in 2017 to $139.98 billion in 2023. North America is the dominant market for healthcare IT which will boost the market growth for medical outsourcing of information technology in 2018-2023. Presence of global industries investing their maximum revenue in R&D activities makes America the largest regional market, with over 45% of global revenue share of medical outsourcing. Introduction of the Patient Protection and Affordable Care Act (PPACA) has greatly impacted the growth of payer market in American medical outsourcing market. By end user, pharmaceutical industry generates the largest revenue share with $52.40 billion in 2016 to $55.23 billion in 2021, growing at a CAGR of 0.9%.
Selected / Sample Analysis done in the full Report:
- Considering a case of insurance based outsourcing services to explain the value chain. In this case, let’s break the value to the customer into two parts – primary and secondary. The primary value (or need) is to procure insurance information for hospital bills, and secondary value comes from aspects such as checking assistance, patient details or customer details stored in data warehouses.
- As you may observe, unlike for products whose consumption and performance of the final products (tangible such as sports equipment) bring the value to the customer, for services each stage is extremely essential to fulfill (supplement) the primary (core) need of the customer. Moreover, service at each stage (primary or secondary) would vary in performance each time it is performed.
- Each stage is essentially a value chain in itself delivering value (though supplementary) to the customer. Consequently, inbound logistics, operations, outbound logistics and service, form a product in themselves. Advertising (prospecting) and sales become the most important service. The intangibles of a service need continuous push and publicity, while CRM holds the key to retain customers and feedback becomes a necessary evil.
- In all, each stage should work coherently and aim for a single goal i.e. to influence customer preference. Incoherence in any one stage from other could impact not just the delivery of primary service, but also of supplementary services that become part of the full service (or single product).
To access / purchase the full report browse the link below
https://industryarc.com/Report/4338/Medical-Outsourcing-Market-Research-Report.html
Excerpts on Market Growth Factors Mentioned in the Full Report:
- The increasing demand for claims processing services due to insurance access expansion is projected to drive growth for the medical outsourcing market.
- Increased pressure on margins of health-care payers due to the rise of health insurance exchanges will have a positive impact on the market growth.
Talk to one of our sales representative about the full report by providing your details in the below link:
https://industryarc.com/support.php?id=4338
Key Players of the Medical Outsourcing Market:
Some of the service providers in this market include PPD LLC, Accenture Consulting, Quanticate, Kinesis Pharma, Quintiles and inVentiv Health. Accenture consultants are assisting the customers to design and implement profound business transformations in partnership with major companies. PPD LLC offers services such as contract clinical research, drug discovery, development, lifecycle management and laboratory services.
Medical Outsourcing Market Report is segmented as below.
- Medical Outsourcing Market By Services:
- Payer
- Transactional Services
- Claims Processing
- Transaction Processing
- Mailroom
- Customer Care
- Communication and Marketing Services
- Member Recruitment
- Communications Design and Consulting
- Cost Avoidance, Audit and Payment Recovery
- Litigation Services
- Transactional Services
- Provider
- Medical Billing
- Medical Coding
- Medical Transcriptions
- Finance and Account
- Improved process tracking and reporting
- Pricing maintenance and configuration
- Pharmaceutical
- CRO Market
- Lead Identification and Lead Optimization Phase
- Biopharmaceutical Development
- Biologic Assay Development
- Pre-Clinic Phase
- Clinical Research
- Phase 1 Clinical Phase
- Phase 2 Clinical Phase
- Phase 3 Clinical Phase
- Phase 4 Clinical Phase
- Clinical Trials Management
- Pharmacovigilance
- Contract Manufacturing Organization
- API Manufacturing
- Formulation Development
- Stability Studies
- Method Development
- Packaging
- Data Management Services and Biostatistics
- Non-Clinical Services
- Medical Writing
- Regulatory Compliance
- Sales and Marketing
- SCM and Logistics
- CRO Market
- Information Technology
- IT Organizational Management
- Infrastructure Technology Outsourcing
- Data integration tools
- Quality, safety and compliance solutions
- Pathology
- Transcription services
- Testing protocols
- Resource management
- Medical Outsourcing Market By End Users:
- Pharmaceutical Industries
- Pharmaceutical Laboratories
- Hospitals
- Clinics
- Research Institutes
- Medical Outsourcing Market By Geography ( Covers 9+ Countries )
- Medical Outsourcing Market Entropy
Companies Citied / Interviewed
- Cognizant Technology Solutions Corporation
- Protiviti Inc.
- Boehringer Ingelheim Gmbh
- Charles River Laboratories International, Inc.
- Capgemini Group
- Medusind Solutions Inc.
- Gebbs Healthcare Solutions, Inc.
- Genpact Limited
- Royal Dsm N.V.
- Quintiles Transactional, Inc.
- Siemens Ag
- Lonza Group Ltd.
- Company 15+
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What can you expect from the report?
The Medical Outsourcing Market Report is Prepared with the Main Agenda to Cover the following 20 points:
- Market Size by Product Categories
- Market trends
- Manufacturer Landscape
- Distributor Landscape
- Pricing Analysis
- Top 10 End user Analysis
- Product Benchmarking
- Product Developments
- Mergers & Acquisition Analysis
- Patent Analysis
- Demand Analysis ( By Revenue & Volume )
- Country level Analysis (10+)
- Competitor Analysis
- Market Shares Analysis
- Value Chain Analysis
- Supply Chain Analysis
- Strategic Analysis
- Current & Future Market Landscape Analysis
- Opportunity Analysis
- Revenue and Volume Analysis
Frequently Asked Questions:
Q. Does IndustryARC publish country, or application based reports in Medical Outsourcing Market?
Response: Yes, we do have separate reports and database as mentioned below:
- North America Market for Medical Outsourcing (2018-2023)
- Europe Market for Medical Outsourcing (2018-2023)
- Asia-Pacific Market for Medical Outsourcing (2018-2023)
- Hospitals Market for Medical Outsourcing (2018-2023)
- Clinics Market for Medical Outsourcing (2018-2023)
- Pharmaceutical Industries Market for Medical Outsourcing (2018-2023)
- Pharmaceutical Laboratories Market for Medical Outsourcing (2018-2023)
- Research Institutes Market for Medical Outsourcing (2018-2023)
Q. Does IndustryARC provide customized reports and charge additionally for limited customization?
Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization
- Increase the level of data in application or end user industry.
- Increase the number of countries in geography or product chapter.
- Find out market shares for other smaller companies or companies which are of interest to you.
- Company profiles can be requested based on your interest.
- Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
Any other major customizations can be discussed with our team, we can provide a separate quote based on your requirements. You can drop in an e-mail to sales@industryarc.com to discuss more about our consulting services.
About IndustryARC:
IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications in a Market. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business.
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