Hospital Outsourcing market : Segmented by Service (Healthcare IT, Clinical services, Business services, Transportation services, Others); By Type (Public, Private) and Region – Global Analysis of Market Size, Share & Trends for 2019–2020 and Forecasts to 2030

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Hospital Outsourcing market to surpass USD 812.53 billion by 2030 from USD 302.21 billion in 2020 at a CAGR of 10.40% in the coming years, i.e., 2021-30.

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Description

Product Overview

Currently, hospital services are viewed as a commercial activity, and as a result, medical organizations have begun to hire third-party providers to carry out hospital duties and services. From a financial standpoint, outsourcing techniques like this help save money while also being extremely efficient. Third-party providers, in comparison to healthcare organizations, are well-trained in specialized operations and deliver services at a reasonable rate. Hospital outsourcing allows medical personnel to focus on critical duties and long-term strategies. This new business strategy is expected to change the hospital in order to address changing business needs and difficulties at a reasonable cost. In the coming years, the quality of service will drastically change.

Market Highlights

Hospital Outsourcing market is expected to project a notable CAGR of 10.40% in 2030
Due to rising hospital cost-liabilities, increased focus on value-based healthcare, constant rise in chronic illnesses due to lifestyle changes, and a corresponding rise in hospital admissions, the global market for hospital outsourcing is expected to grow. Hospitals are depending on IT transformation projects to reduce expenses.

Hospital Outsourcing market: Segments

segment to grow with the highest CAGR during 2020-30
Hospital Outsourcing market is segmented by Type into Public and Private. Among these, the private segment dominated the market in 2020. Due to skilled personnel, private hospital outsourcing provides potential for better customer satisfaction. Furthermore, a substantial number of private hospitals have adopted the outsourcing model in the sector due to changes in government regulations and the rising complexity of in-house operations.

Clinical services segment to grow with the highest CAGR during 2020-30
Hospital Outsourcing market is segmented by Service into Healthcare IT. Clinical services, Business services, Transportation services, Others. Among these, the other category had the highest revenue share in 2019. This includes laundry, cafeteria and catering, security, housekeeping, and maintenance, to name a few. Over the projection period, however, the clinical services category is anticipated to grow at the fastest rate, as hospitals are likely to outsource these services on a significant scale to third-party service providers or collaborative partners.

Market Dynamics

Drivers

Increasing facilities and research
Due to increased need for cost-cutting in healthcare services, rising demand for sophisticated facilities, rising R&D costs, and rigorous regulations, the hospital outsourcing market is expected to grow in the future years. Despite the negative impact of the COVID-19 issue on the global outsourcing sector, the market is expected to increase in the coming years.

Increasing patient flow
The market is projected to rise due to an increase in patient flow and the increasing burden of medical processes such as insurance eligibility and patient check-in records.

Restraint

The healthcare outsourcing market is expected to be restrained by risks linked to changing future plans, prices, data protection, IT outsourcing procedures, unpredictable outsourced costs, and the fear of losing exposure.

Hospital Outsourcing: Key Players

Allscripts

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

Cerner Corporation
The Allure Group
Integrated Medical Transport
Sodexo
Aramark Corporation
LogistiCare Solutions, LLC
Flatworld Solutions
Alere Inc.
ABM Industries Inc.

Hospital Outsourcing market: Regions

Hospital Outsourcing market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Hospital Outsourcing market in North America held the largest market share in the year 2019. In the forecast period, the Hospital Outsourcing market is expected to be dominated by North America. North America’s large fan base for service providers has boosted demand for the healthcare outsourcing sector in the area. The primary influencer for the healthcare outsourcing sector in the region is the growing demand for outsourcing in local healthcare firms. Furthermore, in industrialized areas such as the United States, the usage of paperless working procedures and an increase in the intake of patient data is promoting the use of hospital outsourcing in healthcare companies. To handle the huge volume of data, the majority of healthcare companies rely on third-party service providers.

Hospital Outsourcing market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – China, Japan, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Hospital Outsourcing report also contains analysis on:
Hospital Outsourcing Segments:
By Service
Healthcare IT
Clinical services
Business services
Transportation services
Others
By Type
Public
Private
Hospital Outsourcing

Market Dynamics

Hospital Outsourcing Market Size
Supply & Demand
Current Market Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints

Hospital Outsourcing Market Report Scope and Segmentation

Report Attribute Details
Market size value in 2021 USD 333.46 billion
Revenue forecast in 2030 USD 812.53 billion
Growth Rate CAGR of 10.40% from 2021 to 2030
Base year for estimation 2020
Quantitative units Revenue in USD billion and CAGR from 2021 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Service, Type, and Region
Regional scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)
Key companies profiled Allscripts, Cerner Corporation, The Allure Group, Integrated Medical Transport, Sodexo, Aramark Corporation, LogistiCare Solutions, LLC, Flatworld Solutions, Alere, Inc., ABM Industries Inc, and Other Prominent Players.

Frequently Asked Questions

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Additional information

Publisher

Geography Covered

Date Published

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Pages

Format

Table of Contents

Contents
1. Executive Summary
2. Hospital Outsourcing market
1. Product Overview
2. Market Definition
3. Segmentation
4. Assumptions and Acronyms
3. Research Methodology
1. Research Objectives
2. Primary Research
3. Secondary Research
4. Forecast Model
5. Market Size Estimation
4. Average Pricing Analysis
5. Macro-Economic Indicators
6. Market Dynamics
1. Growth Drivers
2. Restraints
3. Opportunity
4. Trends
7. Correlation & Regression Analysis
1. Correlation Matrix
2. Regression Matrix
8. Recent Development, Policies & Regulatory Landscape
9. Risk Analysis
1. Demand Risk Analysis
2. Supply Risk Analysis
10. Hospital Outsourcing Market Analysis
1. Porters Five Forces
1. Threat of New Entrants
2. Bargaining Power of Suppliers
3. Threat of Substitutes
4. Rivalry
2. PEST Analysis
1. Political
2. Economic
3. Social
4. Technological
11. Hospital Outsourcing Market
1. Market Size & forecast, 2020A-2030F
1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
2. By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12. Hospital Outsourcing Market: Market Segmentation
1. By Regions
1. North America:(U.S. and Canada),By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
2. Europe: (Germany, UK, France, Italy, Spain, and Rest of Europe),By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
3. Asia-Pacific: (China, India, Japan, Australia and Rest of Asia Pacific),By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
4. Latin America: (Brazil, Mexico, Rest of Latin America),By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
5. Middle East and Africa,By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
2. By Service: Market Share (2020-2030F)
1. Healthcare IT, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
2. Clinical services,By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
3. Business services,By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
4. Transportation services,By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
5. Others,By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
3. By Type: Market Share (2020-2030F)
1. Public,By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
2. Private,By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Company Profile
1. Allscripts
1. Company Overview
2. Company Total Revenue (Financials)
3. Market Potential
4. Global Presence
5. Key Performance Indicators
6. SWOT Analysis
7. Product Launch
2. Cerner Corporation
3. The Allure Group
4. Integrated Medical Transport
5. Sodexo
6. Aramark Corporation
7. LogistiCare Solutions, LLC
8. Flatworld Solutions
9. Alere, Inc.
10. ABM Industries Inc.
Consultant Recommendation
**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.