Healthcare has always been a high priority sector for maximum countries and each government desires to deliver the best healthcare services at the lowermost probable cost to its people. According to World Health Organization, numerous developed nations are involved in spending more than 10% of their GDP on healthcare sector. Increasing research and developments, new product launches, demand from consumers, services management, mounting cost and expenses, technological developments and their rising demands are few of the major factors forcing end users to opt for medical outsourcing services. In order to provide affordable healthcare, medical service providers are heading towards outsourcing.
Obesity and its related metabolic diseases comprising diabetes are unembellished medical problems that are growing in occurrence worldwide and result in significant healthcare expenses. While behavioural and pharmacological treatment approaches are partly effective in the short term, their effects are not long-lasting. Obesity and its associated metabolic diseases, including diabetes mellitus, stroke, cardiovascular diseases, osteoarthritis, cancer and gastric esophageal reflux disease are severe medical complications that are increasing in occurrence worldwide. Bariatric surgery is currently the most effective and durable treatment for obesity. Recent bariatric surgical interferences aimed to decrease procedural problems and load while making best use of the beneficial effects. But due to the improving healthcare facilities, these surgeries have become effective.
Some of the key factors providing an impetus for booming healthcare outsourcing in India include, mature pharmaceutical industry, large base of English-speaking population, cost containment, large knowledge base and varied set of outsourcing providers. Besides these factors, increasing demand for impeccable healthcare facilities and multi-specialty hospitals, are together promoting the growth of healthcare and life sciences industry thus powering the national demand for healthcare process outsourcing.
The outsourcing market for payers is anticipated to grow around 10% to 11%, year on year in the coming few years, owing to the increasing thrust from the US regulatory framework. Some of the services coming into limelight in the payers and providers market include patient care and enrolment along with medical imaging. The implementation of ICD-10 standards will further drive the market for billing and medical coding services of the healthcare outsourcing. Although regulatory changes have had a pretentious effect on the number of clinical trials in India, yet, the CRO market is anticipated to grow multifold in the coming years.
IndustryARC is a global market research and business consulting firm based out of India. We have research centers across Asia and Europe with consultants experienced in the following verticals – Agriculture, Automotive, Chemicals and Materials, Energy and Power, Food and Beverages, ICT, Electronics, Life sciences and Healthcare, Automation and Instrumentation.
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