Product Code: GVR-4-68039-210-4
Hospital Outsourcing Market Growth & Trends
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.
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
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market Segmentation & Scope
- 1.1.1 Service
- 1.1.2 Type
- 1.1.3 Regional Scope
- 1.1.4 Estimates And Forecast Timeline
- 1.2 Research Methodology
- 1.3 Information Procurement
- 1.3.1 Purchased Database
- 1.3.2 GVR's Internal Database
- 1.3.3 Secondary Sources
- 1.3.4 Primary Research
- 1.3.5 Details of Primary Research
- 1.4 Information or Data Analysis
- 1.4.1 Data Analysis Models
- 1.5 Market Formulation & Validation
- 1.6 Model Details
- 1.6.1 Commodity Flow Analysis (Model 1)
- 1.6.2 Volume Price Analysis (Model 2)
- 1.7 List of Secondary Sources
- 1.8 List of Primary Sources
- 1.9 List of Abbreviations
- 1.10 Objectives
- 1.10.1 Objective - 1
- 1.10.2 Objective - 2
- 1.10.3 Objective - 3
- 1.10.4 Objective - 4
Chapter 2 Executive Summary
- 2.1 Market Outlook
- 2.2 Market Definition
- 2.2.1 By Service
- 2.2.2 By Type
Chapter 3 Hospital Outsourcing Market: Variables, Trends, & Scope
- 3.1 Market Segmentation and Scope
- 3.2 Market Driver Analysis
- 3.3 Market Restraint Analysis
- 3.4 Industry Challenges
- 3.5 Penetration & Growth Prospect Mapping
- 3.6 Porter's Five Forces Analysis
- 3.7 PESTEL Analysis
Chapter 4 Hospital Outsourcing Market: Segment Analysis, By Service, 2016 - 2027 (USD Billion)
- 4.1 Hospital Outsourcing Market: Service Market Share Analysis, 2019 & 2027
- 4.2 Market Size & Forecasts and Trend Analysis, 2016 to 2027
- 4.2.1 Healthcare IT
- 4.2.1.1 Market estimates and forecasts, 2016 - 2027 (USD Billion)
- 4.2.2 Clinical services
- 4.2.2.1 Market estimates and forecasts, 2016 - 2027 (USD Billion)
- 4.2.3 Business services
- 4.2.3.1 Market estimates and forecasts, 2016 - 2027 (USD Billion)
- 4.2.4 Transportation services
- 4.2.4.1 Market estimates and forecasts, 2016 - 2027 (USD Billion)
- 4.2.5 Others
- 4.2.5.1 Market estimates and forecasts, 2016 - 2027 (USD Billion)
Chapter 5 Hospital Outsourcing Market: Segment Analysis, by Type, 2016 - 2027 (USD Billion)
- 5.1 Hospital Outsourcing Market: Type Market Share Analysis, 2019 & 2027
- 5.2 Market Size & Forecasts and Trend Analysis, 2016 to 2027
- 5.2.1 Public
- 5.2.1.1 Market estimates and forecasts, 2016 - 2027 (USD Billion)
- 5.2.2 Private
- 5.2.2.1 Market estimates and forecasts, 2016 - 2027 (USD Billion)
Chapter 6 Hospital Outsourcing Market: Regional Analysis
- 6.1 Hospital Outsourcing Market: Market Share Analysis, 2019 & 2027
- 6.2 North America
- 6.2.1 North America Market, 2016 - 2027 (USD Billion)
- 6.2.2 U.S.
- 6.2.2.1 U.S. Market, 2016 - 2027 (USD Billion)
- 6.2.3 Canada
- 6.2.3.1 Canada Market, 2016 - 2027 (USD Billion)
- 6.3 Europe
- 6.3.1 Europe Market, 2016 - 2027 (USD Billion)
- 6.3.2 U.K.
- 6.3.2.1 U.K. Market, 2016 - 2027 (USD Billion)
- 6.3.3 Germany
- 6.3.3.1 Germany Market, 2016 - 2027 (USD Billion)
- 6.3.4 France
- 6.3.4.1 France Market, 2016 - 2027 (USD Billion)
- 6.3.5 Italy
- 6.3.5.1 Italy Market, 2016 - 2027 (USD Billion)
- 6.3.6 Spain
- 6.3.6.1 Spain Market, 2016 - 2027 (USD Billion)
- 6.4 Asia Pacific
- 6.4.1 Asia Pacific Market, 2016 - 2027 (USD Billion)
- 6.4.2 Japan
- 6.4.2.1 Japan Market, 2016 - 2027 (USD Billion)
- 6.4.3 China
- 6.4.3.1 China Market, 2016 - 2027 (USD Billion)
- 6.4.4 India
- 6.4.4.1 India Market, 2016 - 2027 (USD Billion)
- 6.4.5 Australia
- 6.4.5.1 Australia Market, 2016 - 2027 (USD Billion)
- 6.4.6 South Korea
- 6.4.6.1 South Korea Market, 2016 - 2027 (USD Billion)
- 6.5 Latin America
- 6.5.1 Latin America Market, 2016 - 2027 (USD Billion)
- 6.5.2 Brazil
- 6.5.2.1 Brazil Market, 2016 - 2027 (USD Billion)
- 6.5.4 Argentina
- 6.5.4.1 Argentina Market, 2016 - 2027 (USD Billion)
- 6.6 MEA
- 6.6.1 MEA Market, 2016 - 2027 (USD Billion)
- 6.6.2 South Africa
- 6.6.2.1 South Africa Market, 2016 - 2027 (USD Billion)
- 6.6.3 Saudi Arabia
- 6.6.3.1 Saudi Arabia Market, 2016 - 2027 (USD Billion)
Chapter 7 Company Profiles
- 7.1 Allscripts
- 7.1.1 Company Overview
- 7.1.2 Financial Performance
- 7.1.3 Service Benchmarking
- 7.1.4 Strategic Initiatives
- 7.2 Cerner Corporation
- 7.2.1 Company Overview
- 7.2.2 Financial Performance
- 7.2.3 Service Benchmarking
- 7.2.4 Strategic Initiatives
- 7.3 The Allure Group
- 7.3.1 Company Overview
- 7.3.2 Financial Performance
- 7.3.3 Service Benchmarking
- 7.3.4 Strategic Initiatives
- 7.4 Integrated Medical Transport
- 7.4.1 Company Overview
- 7.4.2 Financial Performance
- 7.4.3 Service Benchmarking
- 7.4.4 Strategic Initiatives
- 7.5 Sodexo
- 7.5.1 Company Overview
- 7.5.2 Financial Performance
- 7.5.3 Service Benchmarking
- 7.5.4 Strategic Initiatives
- 7.6 Aramark Corporation
- 7.6.1 Company Overview
- 7.6.2 Financial Performance
- 7.6.3 Service Benchmarking
- 7.6.4 Strategic Initiatives
- 7.7 LogistiCare Solutions, LLC
- 7.7.1 Company Overview
- 7.7.2 Financial Performance
- 7.7.3 Service Benchmarking
- 7.7.4 Strategic Initiatives
- 7.8 Flatworld Solutions
- 7.8.1 Company Overview
- 7.8.2 Financial Performance
- 7.8.3 Service Benchmarking
- 7.8.4 Strategic Initiatives
- 7.9 Alere, Inc
- 7.9.1 Company Overview
- 7.9.2 Financial Performance
- 7.9.3 Service Benchmarking
- 7.9.4 Strategic Initiatives
- 7.10 ABM Industries Inc.
- 7.10.1 Company Overview
- 7.10.2 Financial Performance
- 7.10.3 Service Benchmarking
- 7.10.4 Strategic Initiatives