The global hospital outsourcing market size is expected to reach US$ 685 billion by 2030 from US$ 270 billion in 2020 and is expected to grow at an impressive double-digit rate of 10.6% from 2021 to 2030.
The study includes drivers and restraints of this market. The study provides an analysis of the global hospital outsourcing Market for the period 2017-2030, wherein 2021 to 2030 is the forecast period and 2020 is considered as the base year.
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Crucial factors accountable for market growth are:
- Growing popularity of management service providers
- Rising burden of patients flow
- Rising growth in geriatric population
- Technological advancements and increased investments on R & D activities.
- Increased penetration of healthcare units in developed markets
- Increased importance of non-core activities in hospitals
- Availability of numerous service providers in the hospital outsourcing market
Report Highlights
- By service, the clinical services segment is expected to be the fastest-growing owing to the growing number of diagnostic laboratories, clinics, and private hospitals in the major markets such as US, India, Japan, and UK.
- By type, the private segment led the global hospital outsourcing market with remarkable revenue share in 2020. The private hospitals seek to earn more profit by reducing their operational costs by assigning the management related activities to the specialized hospital outsourcing service providers.
Market Dynamics
Drivers
The hospital outsourcing market is primarily driven by the increased number of patients admissions owing to rising prevalence of chronic conditions and diseases amongst the population. Moreover, growing geriatric population, who are prone to diseases is boosting the market growth. According to the United Nations, the global population of age 65 years and above is estimated to reach 1.5 billion by 2050. This factor is surging the importance of management service providers in the healthcare sector.
Restraints
Data breach is the major restraining factor that may hamper the market growth during the forecast period. The outsourcing enables a number of persons to have access to the data of huge number of patients. This may lead to data breaches particularly in the IT outsourcing services. Hence, this may constraint the market growth in the upcoming years.
Opportunities
The increased adoption of digital media in the management of hospital in-house services has opened the doors for the adoption and implementation of artificial intelligence technologies that will increase efficiency by eliminating errors.
Challenges
Cybersecurity is a major challenge especially in the IT services of any hospital. A severe cyberattack may put the patient’s life at risk and also result in financial losses to the hospitals. Hence, cybersecurity has an increased importance in today’s digital world.
Regional Snapshots
North America is the dominating hospital outsourcing market. This is attributable to the fact that major markets in the region like US and Canada has the most developed healthcare infrastructure and a significant number of private and public hospitals operate. The population of US is getting older at a fast pace as compared to any other developed region. Therefore, growing geriatric population coupled with the better access to the hospitalization facilities has perfectly played its role in the growth of the hospital outsourcing market growth. Moreover, strict Federal laws regarding the maintenance of electronic records of patients have a major contribution in the growth of the market in the region.
Asia Pacific is estimated to grow at the fastest rate during the forecast period owing to the increasing shift towards digital technologies. Rising government expenditure on healthcare sector top make the healthcare services accessible to the majority of the population is playing a prominent role in the growth of the hospital outsourcing market in the region. Further, reducing paperwork and moving towards more economic and sustainable alternative in the field of hospital management services is propelling market growth.
Why should you invest in this report?
If you are aiming to enter the global hospital outsourcing market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for hospital outsourcing are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030, so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Some of the major players in the hospital outsourcing market include:
- Sodexo
- Allscripts
- The Allure Group
- Aramark Corp.
- Cerner Corporation
- LogistiCare Solutions
- ABM Industries
- Alere, Inc.
- Flatworld Solutions
- Integrated Medical Transport
Market Segmentation:
By Service
- Clinical Services
- Healthcare IT
- Transportation Services
- Business Services
- Others
By Type
- Private
- Public
Regional Analysis:
The geographical analysis of the global hospital outsourcing market has been done for North America, Europe, Asia-Pacific, and the Rest of the World.
The North American market is again segmented into the US, Canada, and Mexico. Coming to the European market, it can be segmented further into the UK, Germany, France, Italy, Spain, and the rest. Coming to the Asia-Pacific, the global hospital outsourcing Market is segmented into China, India, Japan, and Rest of Asia Pacific. Among others, the market is segmented into the Middle East and Africa, (GCC, North Africa, South Africa and Rest of the Middle East & Africa).
Key Questions Answered by the Report:
- What will be the size of the global hospital outsourcing market in 2030?
- What is the expected CAGR for the hospital outsourcing market between 2021 and 2030?
- Which are the top players active in this global market?
- What are the key drivers of this global market?
- How will the market situation change in the coming years?
- Which region held the highest market share in this global market?
- What are the common business tactics adopted by players?
- What is the growth outlook of the global hospital outsourcing market?
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Hospital Outsourcing Market, By Type
7.1. Hospital Outsourcing Market, by Type, 2021-2030
7.1.1. Private
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Public
7.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Hospital Outsourcing Market, By Service
8.1. Hospital Outsourcing Market, by Service, 2021-2030
8.1.1. Clinical Services
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Healthcare IT
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Transportation Services
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Business Services
8.1.4.1. Market Revenue and Forecast (2017-2030)
8.1.5. Others
8.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Hospital Outsourcing Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Type (2017-2030)
9.1.2. Market Revenue and Forecast, by Service (2017-2030)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Type (2017-2030)
9.1.3.2. Market Revenue and Forecast, by Service (2017-2030)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Type (2017-2030)
9.1.4.2. Market Revenue and Forecast, by Service (2017-2030)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Type (2017-2030)
9.2.2. Market Revenue and Forecast, by Service (2017-2030)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Type (2017-2030)
9.2.3.2. Market Revenue and Forecast, by Service (2017-2030)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Type (2017-2030)
9.2.4.2. Market Revenue and Forecast, by Service (2017-2030)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Type (2017-2030)
9.2.5.2. Market Revenue and Forecast, by Service (2017-2030)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Type (2017-2030)
9.2.6.2. Market Revenue and Forecast, by Service (2017-2030)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Type (2017-2030)
9.3.2. Market Revenue and Forecast, by Service (2017-2030)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Type (2017-2030)
9.3.3.2. Market Revenue and Forecast, by Service (2017-2030)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Type (2017-2030)
9.3.4.2. Market Revenue and Forecast, by Service (2017-2030)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Type (2017-2030)
9.3.5.2. Market Revenue and Forecast, by Service (2017-2030)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Type (2017-2030)
9.3.6.2. Market Revenue and Forecast, by Service (2017-2030)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Type (2017-2030)
9.4.2. Market Revenue and Forecast, by Service (2017-2030)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Type (2017-2030)
9.4.3.2. Market Revenue and Forecast, by Service (2017-2030)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Type (2017-2030)
9.4.4.2. Market Revenue and Forecast, by Service (2017-2030)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Type (2017-2030)
9.4.5.2. Market Revenue and Forecast, by Service (2017-2030)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Type (2017-2030)
9.4.6.2. Market Revenue and Forecast, by Service (2017-2030)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Type (2017-2030)
9.5.2. Market Revenue and Forecast, by Service (2017-2030)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Type (2017-2030)
9.5.3.2. Market Revenue and Forecast, by Service (2017-2030)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Type (2017-2030)
9.5.4.2. Market Revenue and Forecast, by Service (2017-2030)
Chapter 10. Company Profiles
10.1. Sodexo
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. Allscripts
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. The Allure Group
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Aramark Corp.
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. Cerner Corporation
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. LogistiCare Solutions
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. ABM Industries
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Alere, Inc.
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Flatworld Solutions
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. Integrated Medical Transport
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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