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The Medical Outsourcing Market is estimated to hit $ 319.46 billion by 2023

Medical Outsourcing Market

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.

HYDERABAD, TELANGANA, INDIA, June 7, 2018 / -- 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.

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.

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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.

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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:
1. Payer
1.1. Transactional Services
1.1.1. Claims Processing
1.1.2. Transaction Processing
1.1.3. Mailroom
1.2. Customer Care
1.3. Communication and Marketing Services
1.3.1. Member Recruitment
1.4. Communications Design and Consulting
1.5. Cost Avoidance, Audit and Payment Recovery
1.5.1. Litigation Services
2. Provider
2.1. Medical Billing
2.2. Medical Coding
2.3. Medical Transcriptions
2.4. Finance and Account
2.5. Improved process tracking and reporting
2.6. Pricing maintenance and configuration
3. Pharmaceutical
3.1. CRO Market
3.1.1. Lead Identification and Lead Optimization Phase
3.1.2. Biopharmaceutical Development
3.1.3. Biologic Assay Development
3.1.4. Pre-Clinic Phase
3.1.5. Clinical Research Phase 1 Clinical Phase Phase 2 Clinical Phase Phase 3 Clinical Phase Phase 4 Clinical Phase
3.1.6. Clinical Trials Management
3.1.7. Pharmacovigilance
3.2. Contract Manufacturing Organization
3.2.1. API Manufacturing
3.2.2. Formulation Development
3.2.3. Stability Studies
3.2.4. Method Development
3.2.5. Packaging
4. Information Technology
4.1. IT Organizational Management
4.2. Infrastructure Technology Outsourcing
4.3. Data integration tools
4.4. Quality, safety and compliance solutions
5. Pathology
5.1. Transcription services
5.2. Testing protocols
5.3. Resource management
Medical Outsourcing Market By End Users:
1. Pharmaceutical Industries
2. Pharmaceutical Laboratories
3. Hospitals
4. Clinics
5. Research Institutes
Medical Outsourcing Market By Geography ( Covers 9+ Countries )
Medical Outsourcing Market Entropy
Companies Citied / Interviewed

1. Cognizant Technology Solutions Corporation
2. Protiviti Inc.
3. Boehringer Ingelheim Gmbh
4. Charles River Laboratories International, Inc.
5. Capgemini Group
6. Medusind Solutions Inc.
7. Gebbs Healthcare Solutions, Inc.
8. Genpact Limited
9. Royal Dsm N.V.
10. Quintiles Transactional, Inc.
11. Siemens Ag
12. Lonza Group Ltd.
13. Company 15+

Related Report:

A. Bioinformatics Market

B. Healthcare Transportation Services Market

What can you expect from the report?
The Medical Outsourcing Market Report is Prepared with the Main Agenda to Cover the following 20 points:
1. Market Size by Product Categories
2. Market trends
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Demand Analysis ( By Revenue & Volume )
12. Country level Analysis (10+)
13. Competitor Analysis
14. Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Strategic Analysis
18. Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Revenue and Volume Analysis

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