This market research report includes a detailed segmentation of the global RPA in Healthcare market by component (Software and Services), by organization size (SMEs and Large Enterprises), by application (Claims Management, Clinical Documentation, Billing and Compliance Management, Appointment Scheduling, and Workflow Management), and by regions (North America, Europe, Asia Pacific, Middle East Africa, and Latin America). The market research report identifies UiPath, Blue Prism, Automation Anywhere, Thoughtonomy, WorkFusion, Kofax, Kryon Systems, EdgeVerve Systems, Pegasystems, and Another Monday as the market leaders operating in the global RPA in Healthcare market.
Overview of the RPA in Healthcare Market
Infoholic’s market research report predicts that the global RPA in Healthcare market will grow at a CAGR of above 20% during the forecast period. The market for RPA in Healthcare is driven by increasing demand to automate claims and process management. RPA vendors are focusing on developing best-in-class intelligent process automation bots.
RPA software help the healthcare industry to reduce human resource requirement in various customer support activities. The automation of business processes reduces a lot of work like managing huge clients and continuous delivery.
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According to our analysis of RPA in Healthcare, North America accounted for the largest share of the global RPA in Healthcare market in 2019. With only few players making a landmark success in the market, while other vendors are also expected to make their presence felt as the RPA market is disruptive to business models of various organizations that will gain momentum in near future. Several enterprises in this region are focusing towards enhancing customer experience and reduce costs in delivering value. The Asia Pacific region is expected to witness the fastest growth rate due to the increasing customer base for the large enterprises. While RPA is still in its infancy stage, the market faces various restraints like change in organization structure while adopting RPA and lack of understanding to integrate business processes to RPA. As organizations continue to grow and managing huge customers becomes a difficulty, RPA can benefit healthcare sector to rely on desktop automation for some basic to complex repetitive workflows. The growth of RPA is expected to assist organizations in monetizing various back-end processes.
RPA in Healthcare Market Research Competitive Analysis and Key Vendors
The report covers and analyzes the RPA in Healthcare market. The major hospital chains are planning for investments in RPA and increase their profit margins. The key players in RPA market are adopting various organic as well as inorganic growth strategies such as collaborations & partnerships, joint ventures, and few other strategies to be in a strong position in the market.
Some of the Key Vendors in the RPA in Healthcare Market:
- Blue Prism
- Automation Anywhere
- These companies are striving in the market sphere by acquiring clients across regions from telecom operators to stay ahead in the competitive world. For instance, SAP acquired Contextor thereby enhancing its internal policies as well as making it a suitable vendor for RPA.
There are few other vendors that have been studied based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D for analysis of the entire ecosystem.
RPA in Healthcare Market Segmentation By Component
- Support and Maintenance
- Training and Consulting
- Services contribute to the majority of the market. Support and maintenance is expected to grow at the highest CAGR during the forecast period 2019–2025.
RPA in Healthcare Market Segmentation By Organization Size
- Large enterprises is estimated to hold the largest market share in 2019 and will continue this trend during the forecast period 2019–2025.
RPA in Healthcare Market Segmentation By Application
- Claims Management
- Clinical Documentation
- Billing and Compliance Management
- Appointment Scheduling
- Workflow Management
- Claims management segment is estimated to hold the largest market share in 2019 and will continue this trend during the forecast period 2019–2025.
RPA in Healthcare Market Research Benefits
The report provides an in-depth analysis of the RPA in Healthcare market. RPA combines various technologies of automation using rule-based and cognitive capabilities to deploy bots. By analyzing various customer experience areas, intelligent features, and automated controls, RPA is expected to provide next-generation hospital experience and capability to handle huge customers in hospitals and clinics. Vendors are focusing on successfully deploying bots for various applications. For building long-lasting and better management in managing its customers, healthcare sector is investing on process automation software to hold greater market share. With the introduction of NLP, ML, and AI, the RPA market is expected to grow significantly and improve customer services and also help hospitals in optimizing services and gaining profit margins. The report discusses the market in terms of component, organization size, application, and region. Furthermore, the report provides details about the major challenges impacting the market growth. The RPA vendors are focusing on enhancing partner ecosystem across geographies to widen its reach and gain new customers.
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