Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 324.44 Billion | USD 682.33 Billion | 10.5% | 2022 |
FrequentlyAsked Questions
Hospital outsourcing is a business practice where the medical organization hires any third-party providers outside the company to perform the tasks and services of the hospitals. Such outsourcing practices help in cost savings and efficiency gains to get a greater competitive advantage. The third-party providers are specialized in specific operations and may provide service more efficiently and less expensively than the healthcare organization. It also helps the staff in focusing on their main tasks and future strategy. Outsourcing hospitals tend to make the enterprise more resilient and versatile and can respond to evolving business demands and challenges while delivering cost savings and changes in the quality of service.
The global hospital outsourcing market is predicted to increase at a CAGR of 10.5% during the forecast period.
The global hospital outsourcing market was worth around USD 324.44 billion in 2022 and is expected to reach USD 682.33 billion by 2030.
The global hospital outsourcing market is being driven by several factors, including rising healthcare costs, increasing demand for quality healthcare services, and the need for cost-effective solutions. Additionally, technological advancements, such as telemedicine and artificial intelligence, are expected to drive growth in the hospital outsourcing market in the coming years.
North America held a notable share in the global hospital outsourcing market in 2022 and is likely to grow the fastest during the forecast period. The growth of the hospital outsourcing market in North America is being driven by factors such as increasing demand for healthcare services, the rising cost of healthcare, and the need for cost-effective solutions. Technological advancements and government initiatives to improve healthcare delivery are also expected to drive growth in the North American hospital outsourcing market.
Some of the major companies operating in the hospital outsourcing market include Clean Team, ModivCare Solutions, LLC., Allscripts Healthcare, LLC, Cleaning Services Group, Inc., ACC Medlink, OCS Group Limited, SSR Techvision, e-care India, Sodexo, XPressGuards.com, Cerner Corporation, Fast Guard Service, Optum, Inc., First Class Valet, R1 RCM, Inc, ABM, Flatworld Solutions Pvt. Ltd., Red Bean Hospitality, Grupa Impel, Apollo Sindoori, Stathakis, Aramark, Healthcare Resource Group, Inc., The Budd Group, 3M, Integrated Medical Transport, AdvantEdge Healthcare Solutions., TRIMEDX, Maxicus, and CIRFOOD, among others.
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