The healthcare BPO services market was valued at US$ 35,818.9 million in 2017, it is estimated to grow at a CAGR of 8.6% from 2018 to 2025.
Healthcare Business Processing Outsourcing (BPO) offers customized solutions to the healthcare providers and payers to reduce the complexity of various tedious tasks involved at several stages of the workflow and establishment. These services are also helpful to enrich resource allocation, boost the financial performance of the company/organization, seek strategic growth support as well as reduce operational costs to maximize profit margins. The growth of the healthcare BPO services market is attributed to the constant changes in government regulations, mounting pressure on healthcare providers to reduce healthcare costs, rising consolidation in the healthcare BPO industry. However, hidden costs of outsourcing and dearth of skilled professionals and researchers is the major factor hindering the market growth.
The healthcare BPO services market is expected to witness substantial growth post-pandemic. The global healthcare infrastructure has observed that, in order to develop and maintain sustainable healthcare setup, utilization of digital technologies and digital innovation becomes crucial. Moreover, majority of the market players have focused on development of digital tools in order to increase accessibility, affordability, and accuracy and to fight against coronavirus pandemic. In addition, several number of research centers have actively participated in the building of technologies, processes and channels which are assisting the healthcare employees to work efficiently and to access the resources from their homes while maintaining security. These factors will eventually drive the market growth.
Lucrative Regions for Healthcare BPO Services Market
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Market Insights
Constant Changes in Government Regulations to Drive Healthcare BPO Services Market Growth
The healthcare costs continues to be a significant factor and influences the current and future allocation of budget by the government in every country across the world. The healthcare disparity between various regions have led to constantly changing government regulations and policies for healthcare companies in terms of the priorities and other aspects. For instance, in January 2017, Donald Trump, the US president signed an executive order for immediate repeal of Patient Protection and Affordable Care Act of 2010 (PPACA), that would pose an economic burden on the American people and those involved in the health care industry. The new administration also affecting the country’s regulatory authority (USFDA in this case) to address issues such as high pricing, clearance of orphan drug request backlog and others affects the healthcare companies that are present in the US as well as the ones that have invested in the country.
Similarly, Section 3d of the Indian Pharma Act does not approve and allow the marketing and use of a drug that is in altered form of an already known molecule and fails to represent improved efficacy over the prevalent one in the market, which is not the case in case of other countries such as the U.S., Australia, UK and are approved for their use. Additionally, the Indian government in 2016 had banned 350 fixed dose combination drugs, however mounting legal challenges by the pharmaceutical industry prompted the Supreme Court to call a review by an advisory board and remove the ban. However, in September 2018, the health ministry of India re-banned the manufacture, sale and distribution of 328 fixed dose combination of drugs with immediate effects and restricted another six drugs. Healthcare companies that are unaware of these constantly changing regulatory policies may endure a significant loss and lose their interest for investing into markets with high growth potentials. The business process outsourcing services that assists these companies by providing a report regarding the constant track changes and helps in creating strategic plans to invest in countries that have favorable policies for the investor is expected to increase the adoption of these services and hence support the growth of market over the years.
Payer Service -Based Insights
In terms of payer service, the healthcare BPO services market is segmented into claims administration, billing, member management, provider management, fraud management, and others. In 2017, the claims administration segment held largest share of the market and the fraud management segment is estimated to register the highest CAGR during the forecast period.
Healthcare BPO Services Market, by Payer Service, 2017 & 2025
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Provider Service -Based Insights
Based on provider service, the healthcare BPO services market is segmented into medical billing, medical coding, finance & accounts and others. The medical billing segment held the largest share of the market in 2017. Also, the same segment is estimated to register highest CAGR during the forecast period.
Pharmaceutical Service -Based Insights
In terms of pharmaceutical service, the healthcare BPO services market is segmented into research & development, manufacturing, sales & marketing, supply chain & logistics, and others. The manufacturing segment held the largest share of the market in 2017.
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Healthcare BPO Services Market: Strategic Insights
Market Size Value in US$ 35,818.9 Million in 2017 Market Size Value by US$ 68,198.3 Million by 2025 Growth rate CAGR of 8.6% from 2018-2025 Forecast Period 2018-2025 Base Year 2018
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Healthcare BPO Services Market: Strategic Insights
| Market Size Value in | US$ 35,818.9 Million in 2017 |
| Market Size Value by | US$ 68,198.3 Million by 2025 |
| Growth rate | CAGR of 8.6% from 2018-2025 |
| Forecast Period | 2018-2025 |
| Base Year | 2018 |
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The healthcare BPO services market players are adopting the product launch and expansion strategies to cater to changing customer demands worldwide, which also allows them to maintain their brand name globally.
Healthcare BPO Services Market – by Payer Service
- Claims Administration
- Member Management
- Provider Management
- Billing
- Fraud Management
- Others
Healthcare BPO Services Market – by Provider Service
- Medical Billing
- Finance & Accounts
- Medical Coding
- Others
Healthcare BPO Services Market – by Pharmaceutical Service
- Manufacturing
- Research & Development
- Sales & Marketing
- Supply Chain & Logistics
- Others
Healthcare BPO Services Market – by Geography
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Spain
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
South America and Central America (SCAM)
- Brazil
- Argentina
- Rest of SCAM
Company Profiles
- WNS (Holdings) Ltd.
- Invensis Technologies Pvt Ltd
- Cognizant, Infosys Limited
- ACCENTURE
- Genpact, Xerox Corporation
- GeBBS Healthcare Solutions
- Capgemini
- Omega Healthcare
- Flatworld Solutions Pvt. Ltd.
- Magellan Solutions.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Payer Service ; Provider Service ; Pharmaceutical Service and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
TABLE OF CONTENTS
1. INTRODUCTION 20
1.1 SCOPE OF THE STUDY 20
1.2 THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE 20
2. GLOBAL HEALTHCARE BPO SERVICES – KEY TAKEAWAYS 22
3. GLOBAL HEALTHCARE BPO SERVICES – MARKET LANDSCAPE 25
3.1 OVERVIEW 25
3.2 MARKET SEGMENTATION 25
3.2.1 Global Healthcare BPO Services – By Payer Service 26
3.2.2 Global Healthcare BPO Services – By Provider Service 26
3.2.3 Global Healthcare BPO Services – By Pharmaceutical Service 27
3.2.4 Global Healthcare BPO Services – By Geography 27
3.3 PEST ANALYSIS 28
3.3.1 North America – PEST Analysis 28
3.3.2 Europe – PEST Analysis 30
3.3.3 Asia Pacific – PEST Analysis 32
3.3.4 Middle East and Africa (MEA) – PEST Analysis 34
3.3.5 South and Central America – PEST Analysis 36
4. GLOBAL HEALTHCARE BPO SERVICES MARKET – KEY MARKET DYNAMICS 38
4.1 KEY MARKET DRIVERS 38
4.1.1 Constant Changes in Government Regulations 38
4.1.2 Mounting Pressure on Healthcare Providers to Reduce Healthcare Costs 38
4.1.3 Rising Consolidation in the Healthcare BPO Industry 39
4.2 KEY MARKET RESTRAINTS 40
4.2.1 Dearth Of Skilled Professionals 40
4.2.2 Hidden Costs of Outsourcing 40
4.3 KEY MARKET OPPORTUNITY 41
4.3.1 Services Leading with Automation and Analytics 41
4.4 FUTURE TREND 41
4.4.1 Outsourcing Teleradiology Services 41
5. HEALTHCARE BPO SERVICES – GLOBAL ANALYSIS 43
5.1 GLOBAL HEALTHCARE BPO SERVICES REVENUE FORECASTS AND ANALYSIS (US$ MN) 43
5.2 GLOBAL HEALTHCARE BPO SERVICES, BY GEOGRAPHY - FORECASTS AND ANALYSIS 44
5.3 PROMINENT PLAYERS 45
5.4 PERFORMANCE OF KEY PLAYERS 45
5.4.1 Accenture 45
5.4.2 IBM 46
5.5 EXPERT OPINIONS 46
6. GLOBAL HEALTHCARE BPO MARKET ANALYSIS – BY PAYER SERVICE 47
6.1 OVERVIEW 47
6.2 CLAIMS ADMINISTRATION MARKET 48
6.2.1 Overview 48
6.2.2 Global Claims Administration Market Revenue and Forecasts to 2025 (US$ Mn) 48
6.3 BILLING MARKET 49
6.3.1 Overview 49
6.3.2 Global Billing Market Revenue and Forecasts to 2025 (US$ Mn) 49
6.4 MEMBER MANAGEMENT MARKET 50
6.4.1 Overview 50
6.4.2 Global Member Management Market Revenue and Forecasts to 2025 (US$ Mn) 50
6.5 PROVIDER MANAGEMENT MARKET 51
6.5.1 Overview 51
6.5.2 Global Provider Management Market Revenue and Forecasts to 2025 (US$ Mn) 51
6.6 FRAUD MANAGEMENT MARKET 52
6.6.1 Overview 52
6.6.2 Global Fraud Management Market Revenue and Forecasts to 2025 (US$ Mn) 52
6.7 OTHERS MARKET 52
6.7.1 Overview 52
6.7.2 Global Others Market Revenue and Forecasts to 2025 (US$ Mn) 53
7. GLOBAL HEALTHCARE BPO MARKET ANALYSIS – BY PROVIDER SERVICE 54
7.1 OVERVIEW 54
7.2 MEDICAL BILLING MARKET 55
7.2.1 Overview 55
7.2.2 Global Medical Billing Market Revenue and Forecasts to 2025 (US$ Mn) 55
7.3 MEDICAL CODING MARKET 56
7.3.1 Overview 56
7.3.2 Global Medical Coding Market Revenue and Forecasts to 2025 (US$ Mn) 56
7.4 FINANCE & ACCOUNTS MARKET 57
7.4.1 Overview 57
7.5 OTHERS MARKET 58
7.5.1 Overview 58
8. GLOBAL HEALTHCARE BPO MARKET ANALYSIS– BY PHARMACEUTICAL SERVICE 59
8.1 OVERVIEW 59
8.2 GLOBAL HEALTHCARE BPO MARKET, BY PHARMACEUTICAL SERVICE 2017 & 2025 (%) 59
8.3 RESEARCH & DEVELOPMENT MARKET 60
8.3.1 Overview 60
8.3.2 Global Research & Development Market Revenue And Forecasts To 2025 (US$ Mn) 60
8.4 MANUFACTURING MARKET 61
8.4.1 Overview 61
8.4.2 Global Manufacturing Market Revenue And Forecasts To 2025 (US$ Mn) 61
8.5 SALES & MARKETING MARKET 62
8.5.1 Overview 62
8.5.2 Global Sales & Marketing Market Revenue And Forecasts To 2025 (US$ Mn) 62
8.6 SUPPLY CHAIN & LOGISTICS MARKET 63
8.6.1 Overview 63
8.6.2 Global Supply Chain & Logistics Market Revenue And Forecasts To 2025 (US$ Mn) 63
8.7 OTHERS MARKET 64
8.7.1 Overview 64
8.7.2 Global Others Market Revenue And Forecasts To 2025 (US$ Mn) 64
9. NORTH AMERICA HEALTHCARE BPO MARKET REVENUE AND FORECASTS TO 2025 65
9.1 OVERVIEW 65
9.2 NORTH AMERICA HEALTHCARE BPO MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 66
9.3 NORTH AMERICA HEALTHCARE BPO MARKET REVENUE AND FORECASTS, BY PAYER SERVICE (US$ MN) 66
9.4 NORTH AMERICA HEALTHCARE BPO MARKET REVENUE AND FORECASTS, BY PROVIDER SERVICE (US$ MN) 66
9.5 NORTH AMERICA HEALTHCARE BPO MARKET REVENUE AND FORECASTS, BY PHARMACEUTICAL SERVICE (US$ MN) 67
9.6 NORTH AMERICA HEALTHCARE BPO MARKET REVENUE AND FORECASTS TO 2025, BY COUNTRY (%) 68
9.7 US HEALTHCARE BPO MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 69
9.7.1 US Healthcare BPO market Revenue and Forecasts to 2025 (US$ Mn) 69
9.7.2 US Healthcare BPO Market Revenue And Forecasts to 2025, By Payer Service (US$ Mn) 70
9.7.3 US Healthcare BPO Market Revenue And Forecasts to 2025, By Provider Service (US$ Mn) 70
9.7.4 US Healthcare BPO Market Revenue And Forecasts to 2025, By Pharmaceutical Service (US$ Mn) 71
9.8 CANADA HEALTHCARE BPO MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 72
9.8.1 Canada Healthcare BPO market Revenue and Forecasts to 2025 (US$ Mn) 72
9.8.2 Canada Healthcare BPO Market Revenue And Forecasts to 2025, By Payer Service (US$ Mn) 73
9.8.3 Canada Healthcare BPO Market Revenue And Forecasts to 2025, By Provider Service (US$ Mn) 73
9.8.4 Canada Healthcare BPO Market Revenue And Forecasts to 2025, By Pharmaceutical Service (US$ Mn) 73
9.9 MEXICO HEALTHCARE BPO MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 75
9.9.1 Mexico Healthcare BPO market Revenue and Forecasts to 2025 (US$ Mn) 75
9.9.2 Mexico Healthcare BPO Market Revenue And Forecasts to 2025, By Payer Service (US$ Mn) 76
9.9.3 Mexico Healthcare BPO Market Revenue And Forecasts to 2025, By Provider Service (US$ Mn) 76
9.9.4 Mexico Healthcare BPO Market Revenue And Forecasts to 2025, By Pharmaceutical Service (US$ Mn) 76
10. EUROPE HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 78
10.1 OVERVIEW 78
10.2 EUROPE HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 79
10.3 EUROPE HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY PAYER SERVICE (US$ MN) 79
10.4 EUROPE HEALTHCARE BPO SERVICES MARKET REVENUE AND FORECASTS TO 2025, BY PROVIDER SERVICE (US$ MN) 80
10.5 EUROPE HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY PHARMACEUTICAL SERVICE (US$ MN) 80
10.6 EUROPE HEALTHCARE BPO SERVICES SHARE, BY COUNTRY (2017 & 2025) (%) 80
10.7 GERMANY HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 82
10.7.1 Germany Healthcare BPO services Revenue And Forecasts to 2025 (US$ Mn) 82
10.7.2 Germany Healthcare BPO Services Revenue And Forecasts to 2025, By Payer Service (US$ Mn) 83
10.7.3 Germany Healthcare BPO Services Revenue And Forecasts to 2025, By Provider Service (US$ Mn) 83
10.7.4 Germany Healthcare BPO Services Revenue And Forecasts to 2025, By Pharmaceutical Service (US$ Mn) 84
10.8 UK HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 85
10.8.1 UK Healthcare BPO services Revenue And Forecasts to 2025 (US$ Mn) 85
10.8.2 UK Healthcare BPO Services Revenue And Forecasts to 2025, By Payer Service (US$ Mn) 86
10.8.3 UK Healthcare BPO Services Revenue And Forecasts to 2025, By Provider Service (US$ Mn) 86
10.8.4 UK Healthcare BPO Services Revenue And Forecasts to 2025, By Pharmaceutical Service (US$ Mn) 86
10.9 FRANCE HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 88
10.9.1 France Healthcare BPO Services Revenue and Forecasts to 2025 (US$ Mn) 88
10.9.2 France Healthcare BPO Services Revenue And Forecasts to 2025, By Payer Service (US$ Mn) 89
10.9.3 France Healthcare BPO Services Revenue And Forecasts to 2025, By Provider Service (US$ Mn) 89
10.9.4 France Healthcare BPO Services Revenue And Forecasts to 2025, By Pharmaceutical Service (US$ Mn) 89
11. ASIA PACIFIC HEALTHCARE BPO MARKET REVENUE AND FORECASTS TO 2025 91
11.1 OVERVIEW 91
11.2 ASIA PACIFIC HEALTHCARE BPO MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 92
11.3 ASIA PACIFIC HEALTHCARE BPO MARKET REVENUE AND FORECASTS TO 2025, BY PAYER SERVICE (US$ MN) 92
11.3.1 Asia Pacific Healthcare BPO Market Revenue And Forecasts to 2025, By Payer Service (US$ Mn) 92
11.3.2 Asia Pacific Healthcare BPO Market Revenue And Forecasts to 2025, By Provider Service (US$ Mn) 93
11.3.3 Asia Pacific Healthcare BPO Market Revenue And Forecasts to 2025, By Pharmaceutical Service (US$ Mn) 93
11.4 ASIA PACIFIC HEALTHCARE BPO MARKET REVENUE AND FORECASTS TO 2025, BY COUNTRY (US$ MN) 93
11.5 JAPAN HEALTHCARE BPO MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 95
11.5.1 Japan Healthcare BPO market Revenue and Forecasts to 2025 (US$ Mn) 95
11.5.2 Japan Healthcare BPO Market Revenue And Forecasts to 2025, By Payer Service (US$ Mn) 95
11.5.3 Japan Healthcare BPO Market Revenue And Forecasts to 2025, By Provider Service (US$ Mn) 96
11.5.4 Japan Healthcare BPO Market Revenue And Forecasts to 2025, By Pharmaceutical Service (US$ Mn) 96
11.6 CHINA HEALTHCARE BPO MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 96
11.6.1 China Healthcare BPO market Revenue and Forecasts to 2025 (US$ Mn) 97
11.6.2 China Healthcare BPO Market Revenue And Forecasts to 2025, By Payer Service (US$ Mn) 97
11.6.3 China Healthcare BPO Market Revenue And Forecasts to 2025, By Provider Service (US$ Mn) 98
11.6.4 China Healthcare BPO Market Revenue And Forecasts to 2025, By Pharmaceutical Service (US$ Mn) 98
11.7 INDIA HEALTHCARE BPO MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 99
11.7.1 India Healthcare BPO market Revenue and Forecasts to 2025 (US$ Mn) 99
11.7.2 India Healthcare BPO Market Revenue And Forecasts to 2025, By Payer Service (US$ Mn) 99
11.7.3 India Healthcare BPO Market Revenue And Forecasts to 2025, By Provider Service (US$ Mn) 100
11.7.4 India Healthcare BPO Market Revenue And Forecasts to 2025, By Pharmaceutical Service (US$ Mn) 100
11.8 SOUTHEAST ASIA HEALTHCARE BPO MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 100
11.8.1 Southeast Asia Healthcare BPO market Revenue and Forecasts to 2025 (US$ Mn) 101
11.8.2 Southeast Asia Healthcare BPO Market Revenue And Forecasts to 2025, By Payer Service (US$ Mn) 101
11.8.3 Southeast Asia Healthcare BPO Market Revenue And Forecasts to 2025, By Provider Service (US$ Mn) 102
11.8.4 Southeast Asia Healthcare BPO Market Revenue And Forecasts to 2025, By Pharmaceutical Service (US$ Mn) 102
12. MIDDLE EAST & AFRICA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 103
12.1 OVERVIEW 103
12.2 MIDDLE EAST AND AFRICA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 104
12.3 MIDDLE EAST AND AFRICA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY PAYER SERVICE (US$ MN) 104
12.4 MIDDLE EAST AND AFRICA HEALTHCARE BPO SERVICES MARKET REVENUE AND FORECASTS TO 2025, BY PROVIDER SERVICE (US$ MN) 105
12.5 MIDDLE EAST AND AFRICA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY PHARMACEUTICAL SERVICE (US$ MN) 105
SOURCE: THE INSIGHT PARTNERSMIDDLE EAST AND AFRICA HEALTHCARE BPO SERVICES SHARE, BY COUNTRY (2017 & 2025) (%) 105
12.6 U.A.E. HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 107
12.6.1 U.A.E. Healthcare BPO services Revenue And Forecasts to 2025 (US$ Mn) 107
12.6.2 UAE Healthcare BPO Services Revenue And Forecasts to 2025, By Payer Service (US$ Mn) 108
12.6.3 UAE Healthcare BPO Services Revenue And Forecasts to 2025, By Provider Service (US$ Mn) 108
12.6.4 UAE Healthcare BPO Services Revenue And Forecasts to 2025, By Pharmaceutical Service (US$ Mn) 109
12.7 SAUDI ARABIA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 110
12.7.1 Saudi Arabia Healthcare BPO Services Revenue And Forecasts to 2025 (US$ Mn) 110
12.7.2 Saudi Arabia Healthcare BPO Services Revenue And Forecasts to 2025, By Payer Service (US$ Mn) 111
12.7.3 Saudi Arabia Healthcare BPO Services Revenue And Forecasts to 2025, By Provider Service (US$ Mn) 111
12.7.4 Saudi Arabia Healthcare BPO Services Revenue And Forecasts to 2025, By Pharmaceutical Service (US$ Mn) 112
12.8 SOUTH AFRICA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 113
12.8.1 South Africa Healthcare BPO Services Revenue And Forecasts to 2025 (US$ Mn) 113
12.8.2 South Africa Healthcare BPO Services Revenue And Forecasts to 2025, By Payer Service (US$ Mn) 114
12.8.3 South Africa Healthcare BPO Services Revenue And Forecasts to 2025, By Provider Service (US$ Mn) 114
12.8.4 South Africa Healthcare BPO Services Revenue And Forecasts to 2025, By Pharmaceutical Service (US$ Mn) 115
13. SOUTH AND CENTRAL AMERICA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 116
13.1 OVERVIEW 116
13.2 SOUTH AND CENTRAL AMERICA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 117
13.3 SOUTH AND CENTRAL AMERICA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY PAYER SERVICE (US$ MN) 118
13.4 SOUTH AND CENTRAL AMERICA HEALTHCARE BPO SERVICES MARKET REVENUE AND FORECASTS TO 2025, BY PROVIDER SERVICE (US$ MN) 118
13.5 SOUTH AND CENTRAL AMERICA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY PHARMACEUTICAL SERVICE (US$ MN) 119
13.6 SOUTH AND CENTRAL AMERICA HEALTHCARE BPO SERVICES SHARE, BY COUNTRY (2017 & 2025) (%) 119
13.7 BRAZIL HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 120
13.7.1 Brazil Healthcare BPO services Revenue And Forecasts to 2025 (US$ Mn) 120
13.7.2 Brazil Healthcare BPO Services Revenue And Forecasts to 2025, By Payer Service (US$ Mn) 121
13.7.3 Brazil Healthcare BPO Services Revenue And Forecasts to 2025, By Provider Service (US$ Mn) 121
13.7.4 Brazil Healthcare BPO Services Revenue And Forecasts to 2025, By Pharmaceutical Service (US$ Mn) 122
14. HEALTHCARE BPO SERVICES MARKET –KEY COMPANY PROFILES 123
14.1 MAGELLAN SOLUTIONS 123
14.1.1 Key Facts 123
14.1.2 Business Description 123
14.1.3 Financial Information 123
14.1.4 Service Portfolio 123
14.1.5 SWOT Analysis 124
14.1.6 Key Developments 124
14.2 OMEGA HEALTHCARE 125
14.2.1 Key Facts 125
14.2.2 Business Description 125
14.2.3 Financial Information 125
14.2.4 Service Portfolio 126
14.2.5 SWOT Analysis 126
14.2.6 Key Developments 126
14.3 CAPGEMINI 127
14.3.1 Key Facts 127
14.3.2 Business Description 127
14.3.3 Financial Overview 128
14.3.4 Service Portfolio 128
14.3.5 SWOT Analysis 129
14.3.6 Key Developments 129
14.4 GENPACT 130
14.4.1 Key Facts 130
14.4.2 Business Description 130
14.4.3 Financial Overview 131
14.4.4 Service Portfolio 131
14.4.5 SWOT Analysis 131
14.4.6 Key Developments 132
14.5 COGNIZANT 133
14.5.1 Key Facts 133
14.5.2 Business Description 133
14.5.3 Financial Information 134
14.5.4 Service Portfolio 134
14.5.5 SWOT Analysis 136
14.5.6 Key Developments 136
14.6 ACCENTURE 139
14.6.1 Key Facts 139
14.6.2 Business Description 139
14.6.3 Financial Information 140
14.6.4 Service Portfolio 140
14.6.5 SWOT Analysis 141
14.6.6 Key Developments 141
14.7 WNS (HOLDINGS) LTD 143
14.7.1 Key Facts 143
14.7.2 Business Description 143
14.7.3 Financial Information 144
14.7.4 Service Portfolio 144
14.7.5 SWOT Analysis 145
14.7.6 Key Developments 145
15. APPENDIX 147
15.1 ABOUT THE INSIGHT PARTNERS 147
15.2 GLOSSARY OF TERMS 147
15.3 METHODOLOGY 149
15.4 COVERAGE 150
15.5 SECONDARY RESEARCH 151
15.6 PRIMARY RESEARCH 151
LIST OF TABLES
TABLE 1. R&D INVESTMENTS BY MAJOR PHARMACEUTICAL COMPANIES 41
TABLE 2. R&D INVESTMENTS BY PHRMA MEMBER COMPANIES,2016 41
TABLE 3. MEDICINES IN DEVELOPMENT FOR NON-COMMUNICABLE DISEASES (NCDS) 42
TABLE 4. NUMBER OF RESGISTERED STUDIES FOR CLINICAL TRIALS 42
TABLE 5. RANK OF GLOBAL CROS IN 2016 43
TABLE 6. CONSOLIDATION ACROSS THE CRO INDUSTRY 46
TABLE 7. NORTH AMERICA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 63
TABLE 8. NORTH AMERICA EARLY PHASE DEVELOPMENT SERVICES MARKET REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 64
TABLE 9. NORTH AMERICA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY END USER (US$MN) 64
TABLE 10. US: R&D INVESTMENTS BY PHARMACEUTICAL COMPANIES, (2015-2016) 65
TABLE 11. US HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 66
TABLE 12. US EARLY PHASE DEVELOPMENT SERVICES MARKET REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 67
TABLE 13. US HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY END USER (US$MN) 67
TABLE 14. CANADA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 69
TABLE 15. CANADA EARLY PHASE DEVELOPMENT SERVICES MARKET REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 69
TABLE 16. CANADA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY END USER (US$MN) 69
TABLE 17. MEXICO HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 71
TABLE 18. MEXICO EARLY PHASE DEVELOPMENT SERVICES MARKET REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 71
TABLE 19. MEXICO HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY END USER (US$MN) 71
TABLE 20. EUROPE HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 73
TABLE 21. EUROPE EARLY PHASE DEVELOPMENT SERVICES MARKET REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 74
TABLE 22. EUROPE HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY END USER (US$MN) 74
TABLE 23. GERMANY HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 76
TABLE 24. GERMANY EARLY PHASE DEVELOPMENT SERVICES MARKET REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 76
TABLE 25. GERMANY HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY END USER (US$MN) 77
TABLE 26. UK HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 79
TABLE 27. UK EARLY PHASE DEVELOPMENT SERVICES MARKET REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 79
TABLE 28. UK HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY END USER (US$MN) 79
TABLE 29. FRANCE HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 81
TABLE 30. FRANCE EARLY PHASE DEVELOPMENT SERVICES MARKET REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 81
TABLE 31. FRANCE HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY END USER (US$MN) 81
TABLE 32. ASIA PACIFIC HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 83
TABLE 33. ASIA PACIFIC EARLY PHASE DEVELOPMENT SERVICES MARKET REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 84
TABLE 34. ASIA PACIFIC HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY END USER (US$ MN) 84
TABLE 35. CHINA: MAJOR GLOBAL PHARMACEUTICAL COMPANIES BY R&D INVESTMENTS, 2013 86
TABLE 36. CHINA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 87
TABLE 37. CHINA EARLY PHASE DEVELOPMENT SERVICES MARKET REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 88
TABLE 38. CHINA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY END USER (US$MN) 88
TABLE 39. JAPAN HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 90
TABLE 40. JAPAN HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 90
TABLE 41. JAPAN HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY END USER (US$MN) 90
TABLE 42. INDIA: R&D SPENDING OF PHARMACEUTICAL COMPANIES (2010 & 2017) 91
TABLE 43. INDIA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 92
TABLE 44. INDIA EARLY PHASE DEVELOPMENT SERVICES MARKET REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 93
TABLE 45. INDIA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY END USER (US$MN) 93
TABLE 46. MIDDLE EAST AND AFRICA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 95
TABLE 47. MIDDLE EAST AND AFRICA EARLY PHASE DEVELOPMENT SERVICES MARKET REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 96
TABLE 48. MIDDLE EAST AND AFRICA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY END USER (US$MN) 96
TABLE 49. UAE HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 99
TABLE 50. UAE EARLY PHASE DEVELOPMENT SERVICES MARKET REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 99
TABLE 51. UAE HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY END USER (US$MN) 99
TABLE 52. SAUDI ARABIA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 101
TABLE 53. SAUDI ARABIA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 101
TABLE 54. SAUDI ARABIA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY END USER (US$MN) 101
TABLE 55. SAUDI ARABIA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 103
TABLE 56. SAUDI ARABIA EARLY PHASE DEVELOPMENT MARKET REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 103
TABLE 57. SAUDI ARABIA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY END USER (US$MN) 103
TABLE 58. SOUTH AND CENTRAL AMERICA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 105
TABLE 59. SOUTH AND CENTRAL AMERICA EARLY PHASE DEVELOPMENT SERVICES MARKET REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 106
TABLE 60. SOUTH AND CENTRAL AMERICA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY END USER (US$MN) 106
TABLE 61. BRAZIL HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 108
TABLE 62. BRAZIL EARLY PHASE DEVELOPMENT SERVICES MARKET REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 108
TABLE 63. BRAZIL HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY END USER (US$MN) 108
TABLE 64. ARGENTINA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 110
TABLE 65. ARGENTINA EARLY PHASE DEVELOPMENT SERVICES MARKET REVENUE AND FORECASTS TO 2025, BY TYPE (US$ MN) 110
TABLE 66. ARGENTINA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025, BY END USER (US$MN) 110
TABLE 67. RECENT MERGER & ACQUISITIONS IN THE HEALTHCARE BPO SERVICES 113
TABLE 68. RECENT COLLABORATIONS IN THE HEALTHCARE BPO SERVICES 114
TABLE 69. RECENT PARTNERSHIPS IN THE HEALTHCARE BPO SERVICES 115
TABLE 70. RECENT ALLIANCES IN THE HEALTHCARE BPO SERVICES 116
TABLE 71. RECENT AGREEMENT & JOINT VENTURE IN THE HEALTHCARE BPO SERVICES 117
TABLE 72. RECENT LAUNCHES IN THE HEALTHCARE BPO SERVICES 119
TABLE 73. RECENT EXPANSIONS & RELOCATION IN THE HEALTHCARE BPO SERVICES 120
TABLE 74. ENHANCEMENTS IN THE HEALTHCARE BPO SERVICES 121
TABLE 75. GLOSSARY OF TERMS, HEALTHCARE BPO SERVICES 162
LIST OF FIGURES
FIGURE 1. ASIA PACIFIC HEALTHCARE BPO SERVICES, REVENUE (US$ MN), BY GEOGRAPHY 2018 & 2025 25
FIGURE 2. GLOBAL HEALTHCARE BPO SERVICES BY TYPE, MARKET SHARE (%), 2017 26
FIGURE 3. GLOBAL EARLY PHASE DEVELOPMENT MARKET BY TYPE, MARKET SHARE (%), 2017 26
FIGURE 4. GLOBAL HEALTHCARE BPO SERVICES BY END USER, MARKET SHARE (%), 2017 27
FIGURE 5. HEALTHCARE BPO SERVICES SEGMENTATION 28
FIGURE 6. CONTRACT RESEARCH ORGANIZATION (CRO) SEGMENTATION, BY REGION 29
FIGURE 7. NORTH AMERICA PEST ANALYSIS 31
FIGURE 8. EUROPE PEST ANALYSIS 33
FIGURE 9. ASIA PACIFIC PEST ANALYSIS 35
FIGURE 10. MIDDLE EAST AND AFRICA (MEA) PEST ANALYSIS 37
FIGURE 11. SOUTH AND CENTRAL AMERICA PEST ANALYSIS 39
FIGURE 12. NUMBER OF APPROVALS FOR NDA & BLA (2005 TO 2016) 44
FIGURE 13. CRO MARKET IMPACT ANALYSIS OF DRIVER AND RESTRAINTS 46
FIGURE 14. GLOBAL HEALTHCARE BPO SERVICES – REVENUE FORECASTS AND ANALYSIS – 2017- 2025 (US$ MN) 47
FIGURE 15. GLOBAL HEALTHCARE BPO SERVICES – BY GEOGRAPHY FORECASTS AND ANALYSIS – 2017- 2025 48
FIGURE 16. GLOBAL HEALTHCARE BPO SERVICES – MARKET SHARE ANALYSIS, 2017 (%) 49
FIGURE 17. GLOBAL HEALTHCARE BPO SERVICES BREAKDOWN, BY TYPE 2017 & 2025 (%) 51
FIGURE 18. GLOBAL EARLY PHASE SERVICES MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 52
FIGURE 19. GLOBAL DRUG DISCOVERY SERVICES MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 53
FIGURE 20. GLOBAL PRE-CLINICAL TRIAL SERVICES MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 54
FIGURE 21. GLOBAL CLINICAL RESEARCH SERVICES MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 56
FIGURE 22. GLOBAL LABORATORY SERVICES MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 57
FIGURE 23. GLOBAL POST-APPROVAL SERVICES MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 58
FIGURE 24. GLOBAL HEALTHCARE BPO SERVICES SHARE, BY END USER 2017 & 2025 (%) 59
FIGURE 25. GLOBAL PHARMACEUTICAL AND BIOTECHNOLOGY COMPANIES MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 60
FIGURE 26. GLOBAL MEDICAL DEVICE COMPANIES MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 61
FIGURE 27. NORTH AMERICA HEALTHCARE BPO SERVICES SHARE OVERVIEW, BY COUNTRY (2017) 62
FIGURE 28. NORTH AMERICA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 63
FIGURE 29. NORTH AMERICA HEALTHCARE BPO SERVICES SHARE, BY COUNTRY (2017 & 2025) (%) 64
FIGURE 30. US HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 66
FIGURE 31. CANADA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 68
FIGURE 32. MEXICO HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 70
FIGURE 33. EUROPE HEALTHCARE BPO SERVICES SHARE OVERVIEW, BY COUNTRY (2017) (%) 72
FIGURE 34. EUROPE HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 73
FIGURE 35. EUROPE HEALTHCARE BPO SERVICES SHARE, BY COUNTRY (2017 & 2025) (%) 74
FIGURE 36. GERMANY HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 75
FIGURE 37. UK HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 78
FIGURE 38. FRANCE HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 80
FIGURE 39. ASIA PACIFIC HEALTHCARE BPO SERVICES OVERVIEW, BY COUNTRY (2017) 82
FIGURE 40. ASIA PACIFIC HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 83
FIGURE 41. ASIA PACIFIC HEALTHCARE BPO SERVICES SHARE, BY COUNTRY (2017 & 2025) (%) 85
FIGURE 42. CHINA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 87
FIGURE 43. JAPAN HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 89
FIGURE 44. INDIA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 92
FIGURE 45. MIDDLE EAST & AFRICA HEALTHCARE BPO SERVICES SHARE OVERVIEW, BY COUNTRY (2017) 94
FIGURE 46. MIDDLE EAST AND AFRICA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 95
FIGURE 47. MIDDLE EAST AND AFRICA HEALTHCARE BPO SERVICES SHARE, BY COUNTRY (2017 & 2025) (%) 97
FIGURE 48. U.A.E. HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 98
FIGURE 49. SAUDI ARABIA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 100
FIGURE 50. SOUTH AFRICA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 102
FIGURE 51. SOUTH AND CENTRAL AMERICA HEALTHCARE BPO SERVICES OVERVIEW, BY COUNTRY (2017) 104
FIGURE 52. SOUTH AND CENTRAL AMERICA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 105
FIGURE 53. SOUTH AND CENTRAL AMERICA HEALTHCARE BPO SERVICES SHARE, BY COUNTRY (2017 & 2025) (%) 106
FIGURE 54. BRAZIL HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 107
FIGURE 55. ARGENTINA HEALTHCARE BPO SERVICES REVENUE AND FORECASTS TO 2025 (US$ MN) 109
FIGURE 56. GROWTH STRATEGIES IN THE HEALTHCARE BPO SERVICES, 2015-2018 111
FIGURE 57. INORGANIC GROWTH STRATEGIES IN THE HEALTHCARE BPO SERVICES, 2015-2018 112
FIGURE 58. ORGANIC GROWTH STRATEGIES IN THE HEALTHCARE BPO SERVICES, 2015-2018 118
The List of Companies - Healthcare BPO Services Market
1. Accenture
2. IBM
3. WNS (Holdings) Ltd.
4. HCL Technologies Limited.
5. Invensis Technologies Pvt Ltd
6. Cognizant
7. Infosys Limited
8. Tata Consultancy Services Limited
9. Genpact
10. Xerox Corporation
11. GeBBS Healthcare Solutions
12. Capgemini
13. Omega Healthcare
14. Flatworld Solutions Pvt. Ltd., and
15. Magellan Solutions
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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