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Hospital Outsourcing Market Size Analysis 2021, Competitive Insights, Leading Players, and Growth Opportunities by 2030

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The hospital outsourcing market was exceeded US$ 270 billion in 2020 and is projected to reach US$ 685 billion by 2030, expanding at an annual CAGR of 10.6 percent, according to a 2021 study by Precedence Research, the Canada-based market Insight Company. The report contains 150+ pages with detailed analysis.

The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030. The dairy products market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit).

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Hospital outsourcing has paved its way to become one of the most popular strategies that hospitals adopt to control costs. In hospital outsourcing, a third party or external contractor/service provider takes over the control of management of a hospital or healthcare organizations’ operations, clinical, and hospitality services. The service provider, by applying its expertise achieves economies of scale and thus offers efficient services to the hospitals at optimum costs. This reduces the operating cost of the hospitals and improves profitability.

This is a major driving force of the hospital outsourcing market. The service providers offers various services such as IT services, laundry, patients’ records, cafeteria, catering, transport, and several other services. This helps the hospital to focus on their core business. The presence of large number of service providers offers the services at reasonable cost due to increased competition. Moreover, stringent government regulations to maintain electronic medical records are significantly boosting the growth of the hospital outsourcing market.

Market Report Scope

Report Highlights Details
Market Size USD 685 Billion by 2030
Growth Rate CAGR of 10.6% From 2021 to 2030
Base Year 2020
Forecast Period 2021 to 2030
Segments Covered Service, Type, Region

Competition Landscape

In the final section of the research report, Precedence Research provided the global hospital outsourcing market structure and a detailed competition landscape to provide a dashboard view of key players operating in the hospital outsourcing market along with their business strategies to report audiences. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the market.

Some of the major players in the hospital outsourcing market include:

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

Crucial factors accountable for market growth are:

  • Growing popularity of management service providers
  • Rising burden of patients flow
  • Rising growth in geriatric population
  • Technological advancements and increased investments on R & D activities.
  • Increased penetration of healthcare units in developed markets
  • Increased importance of non-core activities in hospitals
  • Availability of numerous service providers in the hospital outsourcing market

Report Highlights

  • By service, the clinical services segment is expected to be the fastest-growing owing to the growing number of diagnostic laboratories, clinics, and private hospitals in the major markets such as US, India, Japan, and UK.
  • By type, the private segment led the global hospital outsourcing market with remarkable revenue share in 2020. The private hospitals seek to earn more profit by reducing their operational costs by assigning the management related activities to the specialized hospital outsourcing service providers.

Market Dynamics

Drivers

The hospital outsourcing market is primarily driven by the increased number of patients admissions owing to rising prevalence of chronic conditions and diseases amongst the population. Moreover, growing geriatric population, who are prone to diseases is boosting the market growth. According to the United Nations, the global population of age 65 years and above is estimated to reach 1.5 billion by 2050. This factor is surging the importance of management service providers in the healthcare sector.

Restraints

Data breach is the major restraining factor that may hamper the market growth during the forecast period. The outsourcing enables a number of persons to have access to the data of huge number of patients. This may lead to data breaches particularly in the IT outsourcing services. Hence, this may constraint the market growth in the upcoming years.

Opportunities

The increased adoption of digital media in the management of hospital in-house services has opened the doors for the adoption and implementation of artificial intelligence technologies that will increase efficiency by eliminating errors.

Challenges

Cybersecurity is a major challenge especially in the IT services of any hospital. A severe cyberattack may put the patient’s life at risk and also result in financial losses to the hospitals. Hence, cybersecurity has an increased importance in today’s digital world.

Regional Snapshots

North America is the dominating hospital outsourcing market. This is attributable to the fact that major markets in the region like US and Canada has the most developed healthcare infrastructure and a significant number of private and public hospitals operate. The population of US is getting older at a fast pace as compared to any other developed region. Therefore, growing geriatric population coupled with the better access to the hospitalization facilities has perfectly played its role in the growth of the hospital outsourcing market growth. Moreover, strict Federal laws regarding the maintenance of electronic records of patients have a major contribution in the growth of the market in the region.

Asia Pacific is estimated to grow at the fastest rate during the forecast period owing to the increasing shift towards digital technologies. Rising government expenditure on healthcare sector top make the healthcare services accessible to the majority of the population is playing a prominent role in the growth of the hospital outsourcing market in the region. Further, reducing paperwork and moving towards more economic and sustainable alternative in the field of hospital management services is propelling market growth.

Market Segmentation

By Service

  • Clinical Services
  • Healthcare IT
  • Transportation Services
  • Business Services
  • Others

By Type

  • Private
  • Public

Regional Segmentation

– North America (U.S. and Canada)

 – Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

 – Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

 – Latin America (Brazil and Rest of Latin America)

– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Research Methodology

Secondary Research

It involves company databases such as Hoover’s: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

  • Governmental bodies, and organizations creating economic policies
  • National and international social welfare institutions
  • Company websites, financial reports and SEC filings, broker and investor reports
  • Related patent and regulatory databases
  • Statistical databases and market reports
  • Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

  • Means of primary research: Email interactions, telephonic discussions and

Questionnaire based research etc.

  • In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Most Asked Questions –

  • What was the market size value of the hospital outsourcing in 2020?
  • What is the expected market size by 2030?
  • What is the hospital outsourcing market growth?
  • What are the key factors that positively influence market growth?
  • Who are the prominent players in the hospital outsourcing market?

Why should you invest in this report?

If you are aiming to enter the global hospital outsourcing market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for hospital outsourcing are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030, so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

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TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics

5.1.1. Market Drivers

5.1.2. Market Restraints

5.1.3. Market Opportunities

5.2. Porter’s Five Forces Analysis

5.2.1. Bargaining power of suppliers

5.2.2. Bargaining power of buyers

5.2.3. Threat of substitute

5.2.4. Threat of new entrants

5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis

6.1.2. Key Strategies Adopted by Players

6.1.3. Vendor Landscape

6.1.3.1. List of Suppliers

6.1.3.2. List of Buyers

Chapter 7. Global Hospital Outsourcing Market, By Type

7.1. Hospital Outsourcing Market, by Type, 2021-2030

7.1.1. Private

7.1.1.1. Market Revenue and Forecast (2017-2030)

7.1.2. Public

7.1.2.1. Market Revenue and Forecast (2017-2030)

Chapter 8. Global Hospital Outsourcing Market, By Service

8.1. Hospital Outsourcing Market, by Service, 2021-2030

8.1.1. Clinical Services

8.1.1.1. Market Revenue and Forecast (2017-2030)

8.1.2. Healthcare IT

8.1.2.1. Market Revenue and Forecast (2017-2030)

8.1.3. Transportation Services

8.1.3.1. Market Revenue and Forecast (2017-2030)

8.1.4. Business Services

8.1.4.1. Market Revenue and Forecast (2017-2030)

8.1.5. Others

8.1.5.1. Market Revenue and Forecast (2017-2030)

Chapter 9. Global Hospital Outsourcing Market, Regional Estimates and Trend Forecast

9.1. North America

9.1.1. Market Revenue and Forecast, by Type (2017-2030)

9.1.2. Market Revenue and Forecast, by Service (2017-2030)

9.1.3. U.S.

9.1.3.1. Market Revenue and Forecast, by Type (2017-2030)

9.1.3.2. Market Revenue and Forecast, by Service (2017-2030)

9.1.4. Rest of North America

9.1.4.1. Market Revenue and Forecast, by Type (2017-2030)

9.1.4.2. Market Revenue and Forecast, by Service (2017-2030)

9.2. Europe

9.2.1. Market Revenue and Forecast, by Type (2017-2030)

9.2.2. Market Revenue and Forecast, by Service (2017-2030)

9.2.3. UK

9.2.3.1. Market Revenue and Forecast, by Type (2017-2030)

9.2.3.2. Market Revenue and Forecast, by Service (2017-2030)

9.2.4. Germany

9.2.4.1. Market Revenue and Forecast, by Type (2017-2030)

9.2.4.2. Market Revenue and Forecast, by Service (2017-2030)

9.2.5. France

9.2.5.1. Market Revenue and Forecast, by Type (2017-2030)

9.2.5.2. Market Revenue and Forecast, by Service (2017-2030)

9.2.6. Rest of Europe

9.2.6.1. Market Revenue and Forecast, by Type (2017-2030)

9.2.6.2. Market Revenue and Forecast, by Service (2017-2030)

9.3. APAC

9.3.1. Market Revenue and Forecast, by Type (2017-2030)

9.3.2. Market Revenue and Forecast, by Service (2017-2030)

9.3.3. India

9.3.3.1. Market Revenue and Forecast, by Type (2017-2030)

9.3.3.2. Market Revenue and Forecast, by Service (2017-2030)

9.3.4. China

9.3.4.1. Market Revenue and Forecast, by Type (2017-2030)

9.3.4.2. Market Revenue and Forecast, by Service (2017-2030)

9.3.5. Japan

9.3.5.1. Market Revenue and Forecast, by Type (2017-2030)

9.3.5.2. Market Revenue and Forecast, by Service (2017-2030)

9.3.6. Rest of APAC

9.3.6.1. Market Revenue and Forecast, by Type (2017-2030)

9.3.6.2. Market Revenue and Forecast, by Service (2017-2030)

9.4. MEA

9.4.1. Market Revenue and Forecast, by Type (2017-2030)

9.4.2. Market Revenue and Forecast, by Service (2017-2030)

9.4.3. GCC

9.4.3.1. Market Revenue and Forecast, by Type (2017-2030)

9.4.3.2. Market Revenue and Forecast, by Service (2017-2030)

9.4.4. North Africa

9.4.4.1. Market Revenue and Forecast, by Type (2017-2030)

9.4.4.2. Market Revenue and Forecast, by Service (2017-2030)

9.4.5. South Africa

9.4.5.1. Market Revenue and Forecast, by Type (2017-2030)

9.4.5.2. Market Revenue and Forecast, by Service (2017-2030)

9.4.6. Rest of MEA

9.4.6.1. Market Revenue and Forecast, by Type (2017-2030)

9.4.6.2. Market Revenue and Forecast, by Service (2017-2030)

9.5. Latin America

9.5.1. Market Revenue and Forecast, by Type (2017-2030)

9.5.2. Market Revenue and Forecast, by Service (2017-2030)

9.5.3. Brazil

9.5.3.1. Market Revenue and Forecast, by Type (2017-2030)

9.5.3.2. Market Revenue and Forecast, by Service (2017-2030)

9.5.4. Rest of LATAM

9.5.4.1. Market Revenue and Forecast, by Type (2017-2030)

9.5.4.2. Market Revenue and Forecast, by Service (2017-2030)

Chapter 10. Company Profiles

10.1. Sodexo

10.1.1. Company Overview

10.1.2. Product Offerings

10.1.3. Financial Performance

10.1.4. Recent Initiatives

10.2. Allscripts

10.2.1. Company Overview

10.2.2. Product Offerings

10.2.3. Financial Performance

10.2.4. Recent Initiatives

10.3. The Allure Group

10.3.1. Company Overview

10.3.2. Product Offerings

10.3.3. Financial Performance

10.3.4. Recent Initiatives

10.4. Aramark Corp.

10.4.1. Company Overview

10.4.2. Product Offerings

10.4.3. Financial Performance

10.4.4. Recent Initiatives

10.5. Cerner Corporation

10.5.1. Company Overview

10.5.2. Product Offerings

10.5.3. Financial Performance

10.5.4. Recent Initiatives

10.6. LogistiCare Solutions

10.6.1. Company Overview

10.6.2. Product Offerings

10.6.3. Financial Performance

10.6.4. Recent Initiatives

10.7. ABM Industries

10.7.1. Company Overview

10.7.2. Product Offerings

10.7.3. Financial Performance

10.7.4. Recent Initiatives

10.8. Alere, Inc.

10.8.1. Company Overview

10.8.2. Product Offerings

10.8.3. Financial Performance

10.8.4. Recent Initiatives

10.9. Flatworld Solutions

10.9.1. Company Overview

10.9.2. Product Offerings

10.9.3. Financial Performance

10.9.4. Recent Initiatives

10.10. Integrated Medical Transport

10.10.1. Company Overview

10.10.2. Product Offerings

10.10.3. Financial Performance

10.10.4. Recent Initiatives

Chapter 11. Research Methodology

11.1. Primary Research

11.2. Secondary Research

11.3. Assumptions

Chapter 12. Appendix

12.1. About Us

12.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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