The global hospital outsourcing market size is expected to reach USD 679.2 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 10.4% from 2020 to 2027. Hospitals are increasingly outsourcing internal activities to third-party service providers to control the rising costs of providing services, focus on the core competencies, and avail access to service professionals.
Along
with the financial benefits, outsourcing of hospital services promotes access
to skilled personnel to take care of both clinical and non-clinical
responsibilities. The availability of experienced and professionally qualified
manpower is very important in the healthcare sector as it is a people-driven
industry.
In
the hospital industry, patient satisfaction mainly depends on the human touch
and the services offered by the staff. Hence, the hospitality aspect plays a
vital role, and finding clinically qualified labor with essential soft skills
is a task, thus requiring external assistance.
In
addition, hospitals outsource their internal activities to third-party service
providers as it allows healthcare professionals to focus on patient needs and
deliver quality care. Non- clinical services that are routinely outsourced are
facility management, catering, laundry, and home care staffing.
The
introduction of the value-based care reforms has increased pressure on the
healthcare facilities to offer cost-effective care and reduce inpatient volumes
in the facilities. To maintain profitability in such a situation, hospitals are
outsourcing their services to reduce cost consumption.
However,
lack of control, continuity, dependency, long turnaround than in-house, and
limited commitment to client organizations are a few challenges being faced by
the market, which are expected to impact its growth over the forecast period.
Full Research Report On Hospital Outsourcing Market Visit Here:
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Hospital
Outsourcing Market Report Highlights
- The clinical services
segment is expected to register the highest CAGR over the forecast period
owing to an increase in outsourcing of laboratory and investigation
services such as microbiology, x-rays, pathology, magnetic resonance
imaging, radiology, and nuclear medicine
- The private segment
dominated the market and is expected to register the highest CAGR over the
forecast period, owing to the cost restrictions followed by operational
flexibility in the industry
- North America dominated the
market in 2019 and accounted for the largest revenue share of 71.1% due to
the high penetration/affinity towards outsourcing within the region.
Furthermore, it is flooded with numerous service providers that are
competent in providing high quality and regulatory compliance
- The Middle East and Africa
is expected to register the highest CAGR over the forecast period owing to
the expansion of healthcare, leading to new healthcare facilities being
opened over the next 10 years
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Hospital
Outsourcing Market Segmentation
Grand View Research has segmented
the global hospital outsourcing market based on service, type, and region:
Hospital
Outsourcing Services Outlook (Revenue, USD Billion, 2016 - 2027)
- Healthcare IT
- Clinical services
- Business services
- Transportation services
- Others
Hospital
Outsourcing Type Outlook (Revenue, USD Billion, 2016 - 2027)
- Public
- Private
Hospital
Outsourcing Regional Outlook (Revenue, USD Billion, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Asia Pacific
- India
- China
- Japan
- Australia
- South Korea
- Latin America
- Brazil
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
List of Key Players
of Hospital Outsourcing Market
- Allscripts
- Cerner Corporation
- The Allure Group
- Integrated Medical Transport
- Sodexo
- Aramark Corporation
- LogistiCare Solutions, LLC
- Flatworld Solutions
- Alere, Inc.
- ABM Industries Inc.
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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