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Hospital Outsourcing Market – By Service Type (Clinical {Diagnostics, Surgical, Digital Health}, Non-clinical {Administrative Services}), Size of Hospital (Large Sized Hospitals, Medium-sized Hospitals, Small Hospitals), Type (Private, Public) & Forecast, 2024 – 2032
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Hospital Outsourcing Market
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Premium Report Details
Base Year: 2023
Companies covered: 15
Tables & Figures: 180
Countries covered: 23
Pages: 100
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Hospital Outsourcing Market Size
Hospital Outsourcing Market size was valued at USD 351.5 billion in 2023 and is anticipated to witness growth at a CAGR of 9.6% between 2024 and 2032. The increasing demand for hospital services outsourcing is attributed to dynamic shift in the healthcare landscape, which is driven by several key factors. Hospitals are focusing on providing patient-centric services and operational efficiencies which are expected to accelerate market growth.
Certain factors such as cost containment, operational efficiency, improved quality of patient care, and strategic focus on innovation are expected to offer favorable opportunity for market growth. Healthcare providers are under immense pressure to reduce costs while maintaining or improving the quality of patient care. By outsourcing non-core functions such as facility management, revenue cycle management, and IT services, hospitals can leverage the expertise and economies of scale of specialized outsourcing partners, resulting in cost savings and enhanced operational efficiency.
Further, technological advancements are majorly responsible for driving the demand for hospital services outsourcing. The rapid pace of innovation in healthcare technology, including electronic health records (EHR), telemedicine, and digital health solutions, requires specialized expertise and infrastructure to implement and manage effectively. For instance, in June 2023, U.S. Department of Veterans Affairs announced its plan to extend partnerships with Oracle for EHR modernization.
The hospital outsourcing market includes healthcare facilities, such as hospitals and clinics, contract external service providers to handle specific operational tasks and services. These services can include but are not limited to medical billing, clinical services, supply chain management, IT services, housekeeping, and facility management. The goal of outsourcing is to reduce costs, enhance efficiency, and allow healthcare providers to focus more on patient care and core medical services.
Hospital Outsourcing Market Trends
Hospital Outsourcing Market Analysis
Based on service type, the market is segmented into clinical services and non-clinical services. Clinical services are further sub-segmented as diagnostics, specialty and primary care, surgical, digital health, and other services. Non-clinical services segment is further categorized as administrative services, financial services, information technology, supply chain management, and patient support. The non-clinical services segment held a dominant market share of 62% in 2023.
Based on size of hospital, the hospital outsourcing market is classified as large hospitals, medium-sized hospitals, and small hospitals. The large-sized hospital segment accounted for the highest market share and was valued at USD 173.2 billion in 2023.
Based on type of hospitals, the hospital outsourcing market is categorized into private and public hospitals. The private segment is projected to reach USD 599 billion by 2032.
North America hospital outsourcing market size in 2023 was valued at USD 203.1 billion and is predicted to grow at a CAGR of 9.8% over the analysis timeframe.
U.S. hospital outsourcing market is anticipated to grow at a CAGR of 9.7% to reach USD 430.3 billion by the end of the forecast timeframe.
UK hospital outsourcing market is projected to grow remarkably in the coming years.
China is experiencing high market growth in the hospital outsourcing market.
Hospital Outsourcing Market Share
The hospital outsourcing industry features numerous established and emerging players providing a wide range of treatments worldwide. Competition among these market participants hinges on factors like treatment excellence, innovation, regulatory adherence, customer service, and pricing strategies.
Hospital Outsourcing Market Companies
Prominent players operating in the market industry include:
Hospital Outsourcing Industry News:
The hospital outsourcing market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 - 2032 for the following segments:
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Market, By Service Type
Market, By Size of Hospital
Market, By Type of Hospital
The above information is provided for the following regions and countries: