India Medical Billing Outsourcing Market Size & Outlook
India medical billing outsourcing market, 2018-2030 (US$M)
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India medical billing outsourcing market highlights
- The India medical billing outsourcing market generated a revenue of USD 348.3 million in 2023 and is expected to reach USD 951.0 million by 2030.
- The India market is expected to grow at a CAGR of 15.4% from 2024 to 2030.
- In terms of segment, outsourced was the largest revenue generating component in 2023.
- Outsourced is the most lucrative component segment registering the fastest growth during the forecast period.
Medical billing outsourcing market data book summary
| Market revenue in 2023 | USD 348.3 million |
| Market revenue in 2030 | USD 951.0 million |
| Growth rate | 15.4% (CAGR from 2023 to 2030) |
| Largest segment | Outsourced |
| Fastest growing segment | Outsourced |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | In-house, Outsourced |
| Key market players worldwide | R1 RCM Inc, Veradigm Inc, Oracle Corp, Quest Diagnostics Inc, McKesson Corp, eClinicalWorks, Kareo, AdvancedMD, Promantra |
Other key industry trends
- In terms of revenue, India accounted for 2.6% of the global medical billing outsourcing market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan medical billing outsourcing market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 951.0 million by 2030.
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Medical Billing Outsourcing Market Scope
Medical Billing Outsourcing Market Companies
| Name | Profile | # Employees | HQ | Website |
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India medical billing outsourcing market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to medical billing outsourcing market will help companies and investors design strategic landscapes.
Outsourced was the largest segment with a revenue share of 51.74% in 2023. Horizon Databook has segmented the India medical billing outsourcing market based on in-house, outsourced covering the revenue growth of each sub-segment from 2018 to 2030.
India is one of the fastest emerging economies in Asia Pacific. It has been one of the leading destinations for process outsourcing by healthcare payers, providers, and pharmaceutical companies. International companies outsource their processes to India, as it provides low-cost services; this helps companies save cost & time.
India is a preferred destination for medical process outsourcing due to the presence of a significant number of healthcare professionals at affordable costs and large patient pool. In addition, various factors such as improving healthcare infrastructure, presence of skilled workforce, and cost competitiveness make it a preferred destination for medical process outsourcing.
Some of the key medical billing outsourcing vendors in India are Medusind Solutions; GeBBS Healthcare Solutions; Outsource2india; e-care India; Medisweans Solutions; Nissi Infotech Pvt. Ltd.; Vee Bill; and Invensis Technologies Pvt Ltd. Europe- and America-based healthcare providers choose India as their preferred outsourcing destination due to availability of high-quality services and cost-effective solutions. Investments by international market players are likely to propel market growth in India in coming years. For instance, in August 2018, Access Healthcare acquired Pacific BPO, an RCM service provider, to increase the volume of healthcare customers in India.
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Target buyers of India medical billing outsourcing market databook
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Our clientele includes a mix of medical billing outsourcing market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the India medical billing outsourcing market , including forecasts for subscribers. This country databook contains high-level insights into India medical billing outsourcing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India medical billing outsourcing market size, by component, 2018-2030 (US$M)
India Medical Billing Outsourcing Market Outlook Share, 2023 & 2030 (US$M)
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