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REPORT OUTLOOK
| Market Size | CAGR | Dominating Region |
|---|---|---|
| USD 62.42 billion | 11 % | North America |
| by Type of Service | by End User | by Region |
|---|---|---|
|
|
|
SCOPE OF THE REPORT
Healthcare Consulting Services Market Overview
The global healthcare consulting services market is expected to grow at 11 % CAGR from 2022 to 2029. It is expected to reach above USD 62.42 billion by 2029 from USD 24.4 billion in 2020.
The healthcare industry is primarily concerned with patient treatment and care. However, the logistical and operational dynamics of the healthcare sector, like those of all other industries, are a key area of interest. As a result, it is critical for the healthcare sector to be equipped with cutting-edge technology for sector management. Healthcare consulting includes advice and recommendations on how to improve the extrinsic and operational processes of healthcare centres, systems, and providers. It is a method of managing the vast majority of activities that must be completed in healthcare and testing.
The Healthcare Consulting Services Market is being driven by the rapid adoption of digitalization in healthcare around the world. Strong IT support combined with agile methods provides a competitive advantage to healthcare providers in terms of improving quality, controlling costs, increasing profitability, and simplifying inventory management. Furthermore, there is an increase in opportunities for IT healthcare consulting as a result of favorable government policies in both developed and developing regions. Other factors, such as increased government support for healthcare IT solutions, are expected to change the technological landscape during the forecast period.
| ATTRIBUTE | DETAILS |
| Study period | 2020-2029 |
| Base year | 2021 |
| Estimated year | 2022 |
| Forecasted year | 2022-2029 |
| Historical period | 2018-2020 |
| Unit | Value (USD Billion) |
| Segmentation | By Type of Service, End User |
| By Type of Service |
|
| By End User |
|
The need to improve the operational dynamics of the global healthcare industry has fueled the growth of the global market for healthcare consulting. The proper management and training of workers and practitioners are critical to the efficiency of the healthcare sector. This factor has also contributed to the growth of the Global Healthcare Consulting Services Market. As new models emerge at the forefront of the healthcare sector, the global market for Healthcare Consulting Services is expected to generate significant revenues.
Healthcare consulting firms advise life science companies, government agencies, hospitals, insurance companies, and research institutes on business strategy. Companies in the pharmaceutical, biotechnology, and medical device industries, as well as hospitals, frequently seek advice in the areas of digital consulting, financial consulting, operations consulting, and strategy consulting. Before providing industry analysis and recommendations for improvement, healthcare consulting firms evaluate the organization’s efficiency, profit loss ratio, and structure.
Healthcare consulting is the process of sharing knowledge, providing advice, and guiding healthcare organisations in making business decisions that promote growth and benefit their customers and patients. All healthcare consultants share the same overarching goal: to collaborate with clients to develop and deliver strategies that assist them in navigating complexity, addressing challenges, and achieving their business objectives, which translates to better patient care in this industry. Healthcare consultants are hired by pharmaceutical companies, biotech start-ups, health insurance companies, and governments to advise them on the most effective and efficient ways to deliver healthcare.ients usually hire consultants to work on “cases” for a set period of time. After leaving a consulting firm, you’re most likely to work in a strategy role in a bank or corporate function. A consultant or a manager in the Corporate Function. If you are a senior/partner level employee, you will be a Director/Head of Planning, etc. Strategy analysis, on the other hand, will remain a part of your job. The healthcare industry has been the focus of the COVID-19 crisis. On the one hand, it was in charge of treating COVID-19 patients, but it also faced a number of challenges that other industries face. Throughout, the industry has been forced to constantly innovate and come up with new ways to care for patients. When it comes to seeking healthcare services, consumer preferences and behavior have shifted dramatically.
Increased competition in the healthcare industry around the world, an increase in the number of startups due to favourable government regulations, and an increase in the number of healthcare consulting service providers are driving the market. Hospitals and life sciences firms are constantly under pressure to cut costs while meeting changing consumer demands. As a result, they are constantly on the lookout for professional assistance in providing strategic advice. The tumultuous healthcare industry has seen significant changes as a result of the Trump administration.
Patients’ affordability, quality, and choice are now more important to the system. Changes to the Affordable Care Act (ACA), control of rising drug prices, and the introduction of new technologies and their market impact are all expected to necessitate guidance from a variety of organisations. The North American region’s dominance can be attributed to high-quality service, a diverse range of services, and increased buyer purchasing power. Whereas the Asia Pacific region’s fastest growth is driven by a large number of service providers, low-cost service, the availability of a skilled workforce, and investment by global behemoths. Health consulting services are becoming more popular.
Healthcare Consulting Services Market Segment Analysis
The global healthcare consulting services market is segmented type of service, end user and region.
The healthcare consulting services market is divided into digital health consulting, IT consulting, strategy consulting, operations consulting, financial consulting, and HR & talent consulting based on the type of service segment. The largest market share was held by the operations consulting segment. The large share of this segment can be attributed to the healthcare industry’s transition from a fee-for-service to a coordinated care model, which has resulted in an increased reliance on operations consultants.
Based on the end user segment, the healthcare consulting services market is segmented into government bodies, healthcare providers, health insurance payers, pharmaceutical & biotechnology companies, and medical device companies. During the forecast period, the healthcare providers segment is expected to grow at the fastest rate. The healthcare industry is undergoing significant change, with constantly changing regulatory guidelines and technological advancements, which is a major factor driving the demand for healthcare consultants among hospitals and physician groups.
Healthcare Consulting Services Market Players
The healthcare consulting services market key players include Accenture (Ireland), Cognizant (US), Deloitte (UK), McKinsey & Company (US), PwC (UK), EY (UK), Huron Consulting Group Inc. (US), KPMG (Netherlands), Boston Consulting Group (US), Bain & Company, Inc. (US), and IQVIA (US).
Who Should Buy? Or Key Stakeholders
- Healthcare companies.
- Consulting companies.
- Government organisation.
- Investment and research firms.
- Others
Healthcare Consulting Services Market Regional Analysis
The healthcare consulting services market by region includes North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA).
- North America: includes the US, Canada, Mexico
- Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC
- Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe
- South America: includes Brazil, Argentina and Rest of South America
- Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and Rest of MEA
North America led the market for healthcare consulting services, followed by Europe and Asia Pacific. The availability of government funding for the development of state-wide and national healthcare information exchange, the increased preference for HCIT solutions, the increased number of favourable initiatives by regional governments during the COVID-19 pandemic, the presence of large hospitals that require integrated healthcare networks, the presence of major players providing healthcare consulting services, and the high adoption rate of these services by healthcare organisations.
Key Market Segments: Healthcare Consulting Services Market
Healthcare Consulting Services Market by Type of Service, 2020-2029, (USD Million)
- Digital Health Consulting
- IT Consulting
- Operations Consulting
- Strategy Consulting
- Financial Consulting
- HR & Talent Consulting
Healthcare Consulting Services Market by End User, 2020-2029, (USD Million)
- Government Bodies
- Healthcare Providers
- Health Insurance Payers
- Pharmaceutical & Biotechnology Companies
- Medical Device Companies
Healthcare Consulting Services Market by Region, 2020-2029, (USD Million)
- North America
- Europe
- Asia Pacific
- South America
- Middle East And Africa
Important countries in all regions are covered.
Key Question Answered
- What is the current size of the healthcare consulting services market?
- What are the key factors influencing the growth of healthcare consulting services?
- What is the major end-use industry for healthcare consulting services?
- Who are the major key players in the healthcare consulting services market?
- Which region will provide more business opportunities for healthcare consulting services in future?
- Which segment holds the maximum share of the healthcare consulting services market?
Table of Content
- Introduction
- Market Definition
- Market Segmentation
- Research Timelines
- Assumptions and Limitations
- Research Methodology
- Data Mining
- Secondary Research
- Primary Research
- Subject-Matter Experts’ Advice
- Quality Checks
- Final Review
- Data Triangulation
- Bottom-Up Approach
- Top-Down Approach
- Research Flow
- Data Sources
- Data Mining
- Executive Summary
- Market Overview
- Global Healthcare Consulting Services Market Outlook
- Market Drivers
- Market Restraints
- Market Opportunities
- Impact of Covid-19 On Healthcare Consulting Services Market
- Porter’s five forces model
- Threat from new entrants
- Threat from substitutes
- Bargaining power of suppliers
- Bargaining power of customers
- Degree of competition
- Industry value chain Analysis
- Global Healthcare Consulting Services Market Outlook
- Global Healthcare Consulting Services Market by Type of Service
- Digital Health Consulting
- IT Consulting
- Operations Consulting
- Strategy Consulting
- Financial Consulting
- HR & Talent Consulting
- Global Healthcare Consulting Services Market by End User
- Government Bodies
- Healthcare Providers
- Health Insurance Payers
- Pharmaceutical & Biotechnology Companies
- Medical Device Companies
- Global Healthcare Consulting Services Market by Region
- North America
- US
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Colombia
- Rest Of South America
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest Of Europe
- Asia Pacific
- India
- China
- Japan
- South Korea
- Australia
- South-East Asia
- Rest Of Asia Pacific
- Middle East and Africa
- UAE
- Saudi Arabia
- South Africa
- Rest Of Middle East and Africa
- North America
- Company Profiles* (Business Overview, Company Snapshot, Setup Provider Services Offered, Recent Developments)
-
- ACCENTURE
- COGNIZANT
- TATA CONSULTANCY SERVICES
- XEROX CORPORATION
- WNS (HOLDINGS) LIMITED
- NTT DATA CORPORATION
- IQVIA
- MPHASIS
- GENPACT
- WIPRO
- INFOSYS BPM
- FIRSTSOURCE SOLUTIONS
*The Company List Is Indicative
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LIST OF TABLES
TABLE 1Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 2Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL HEALTHCARE CONSULTING SERVICES MARKET BY REGION (USD MILLIONS) 2020-2029
TABLE 3Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â NORTH AMERICA HEALTHCARE CONSULTING SERVICES MARKET BY COUNTRY (USD MILLIONS) 2019-2028
TABLE 5Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â US HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 6Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â US HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 7Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â CANADA HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 8Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â CANADA HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 9Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â MEXICO HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 10Â Â Â Â Â Â Â Â Â Â Â Â Â MEXICO HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 11Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AMERICA HEALTHCARE CONSULTING SERVICES MARKET BY COUNTRY (USD MILLIONS) 2019-2028
TABLE 12Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 13Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 14Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 15Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 16Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 17Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 18Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 19Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 20Â Â Â Â Â Â Â Â Â Â Â Â Â ASIA-PACIFIC HEALTHCARE CONSULTING SERVICES MARKET BY COUNTRY (USD MILLIONS) 2019-2028
TABLE 21Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 22Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 23Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 24Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 25Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 26Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 27Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 28Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 29Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 30Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 31Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH-EAST ASIA HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 32Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH-EAST ASIA HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 33Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 34Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 35Â Â Â Â Â Â Â Â Â Â Â Â Â EUROPE HEALTHCARE CONSULTING SERVICES MARKET BY COUNTRY (USD MILLIONS) 2019-2028
TABLE 36Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 37Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 38Â Â Â Â Â Â Â Â Â Â Â Â Â UK HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 39Â Â Â Â Â Â Â Â Â Â Â Â Â UK HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 40Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 41Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 42Â Â Â Â Â Â Â Â Â Â Â Â Â ITALY HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 43Â Â Â Â Â Â Â Â Â Â Â Â Â ITALY HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 44Â Â Â Â Â Â Â Â Â Â Â Â Â SPAIN HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 45Â Â Â Â Â Â Â Â Â Â Â Â Â SPAIN HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 46Â Â Â Â Â Â Â Â Â Â Â Â Â RUSSIA HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 47Â Â Â Â Â Â Â Â Â Â Â Â Â RUSSIA HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 48Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 49Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 50Â Â Â Â Â Â Â Â Â Â Â Â Â MIDDLE EAST AND AFRICA HEALTHCARE CONSULTING SERVICES MARKET BY COUNTRY (USD MILLIONS) 2019-2028
TABLE 51Â Â Â Â Â Â Â Â Â Â Â Â Â UAE HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 52Â Â Â Â Â Â Â Â Â Â Â Â Â UAE HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 53Â Â Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 54Â Â Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 55Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 56Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
TABLE 57Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE (USD MILLIONS) 2020-2029
TABLE 58Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA HEALTHCARE CONSULTING SERVICES MARKET BY END USER (USD MILLIONS) 2020-2029
LIST OF FIGURES
FIGURE 1Â Â Â Â Â Â Â MARKET DYNAMICS
FIGURE 2Â Â Â Â Â Â Â MARKET SEGMENTATION
FIGURE 3Â Â Â Â Â Â Â REPORT TIMELINES: YEARS CONSIDERED
FIGURE 4Â Â Â Â Â Â Â DATA TRIANGULATION
FIGURE 5Â Â Â Â Â Â Â BOTTOM-UP APPROACH
FIGURE 6Â Â Â Â Â Â Â TOP-DOWN APPROACH
FIGURE 7Â Â Â Â Â Â Â RESEARCH FLOW
FIGURE 8Â Â Â Â Â Â Â GLOBAL HEALTHCARE CONSULTING SERVICES MARKET BY TYPE OF SERVICE, USD MILLION, 2020-2029
FIGURE 9Â Â Â Â Â Â Â GLOBAL HEALTHCARE CONSULTING SERVICES MARKET BY END USER, USD MILLION, 2020-2029
FIGURE 10Â Â Â Â GLOBAL HEALTHCARE CONSULTING SERVICES MARKET BY REGION, USD MILLION, 2020-2029
FIGURE 11    PORTER’S FIVE FORCES MODEL
FIGURE 12Â Â Â Â NORTH AMERICA HEALTHCARE CONSULTING SERVICES MARKET SNAPSHOT
FIGURE 13Â Â Â Â EUROPE HEALTHCARE CONSULTING SERVICES MARKET SNAPSHOT
FIGURE 14Â Â Â Â ASIA PACIFIC HEALTHCARE CONSULTING SERVICES MARKET SNAPSHOT
FIGURE 15Â Â Â Â SOUTH AMERICA HEALTHCARE CONSULTING SERVICES MARKET SNAPSHOT
FIGURE 16Â Â Â Â MIDDLE EAST & AFRICA HEALTHCARE CONSULTING SERVICES MARKET SNAPSHOT
FIGURE 17Â Â Â Â ACCENTURE: COMPANY SNAPSHOT
FIGURE 18Â Â Â Â COGNIZANT: COMPANY SNAPSHOT
FIGURE 19Â Â Â Â DELOITTE: COMPANY SNAPSHOT
FIGURE 20Â Â Â Â MCKINSEY & COMPANY: COMPANY SNAPSHOT
FIGURE 21Â Â Â Â PWC: COMPANY SNAPSHOT
FIGURE 22Â Â Â Â EY: COMPANY SNAPSHOT
FIGURE 23Â Â Â Â HURON CONSULTING GROUP, INC: COMPANY SNAPSHOT
FIGURE 24Â Â Â Â KPMG: COMPANY SNAPSHOT
FIGURE 25Â Â Â Â BOSTON CONSULTING GROUP (BCG): COMPANY SNAPSHOT
FIGURE 26Â Â Â Â BAIN & COMPANY, INC: COMPANY SNAPSHOT
FIGURE 27Â Â Â Â IQVIA, INC: COMPANY SNAPSHOT
FAQ
The Healthcare consulting services market size had crossed USD 24.4 Billion in 2020 and will observe a CAGR of more than 11% up to 2029 due to growing digitization in healthcare, increasing adoption of big data analytics, IoT, and cloud deployment, favorable changes in the HCIT landscape, government support for HCIT solutions, and the need for data security.
North America held more than 45% of the healthcare consulting services market revenue share in 2021 and will witness expansion with growing digitization in healthcare and increasing adoption of big data analytics.
The upcoming trends in healthcare consulting services market are the involvement of experienced digital health & IT consultants in these activities can help synchronize and standardize systems across the enterprise/organization. This approach also allows consolidation of patient medical records and associated data from multiple departments and locations into a unified system, which helps standardize patient data access and archiving across the enterprise, thus enabling advanced data mining, simplified data management, and optimized disaster recovery.
The global Healthcare consulting services market registered a CAGR of 11% from 2022 to 2029. Â Rather than using a one-size-fits-all approach, a growing number of businesses are breaking up larger consulting contracts into smaller pieces and employing the services of several suppliers to carry out tasks. Healthcare organizations are slowly adopting the multi-sourcing model as consulting firms do not necessarily hold expertise in each practice area.
Based on end user, government bodies are largest end user. The availability of government funding for the development of state-wide and nation-wide healthcare information exchange, the increased preference for HCIT solutions is responsible for market growth.
The increased number of favorable initiatives by regional governments during the COVID-19 pandemic, the presence of large hospitals that demand integrated healthcare networks, the presence of major players offering healthcare consulting services, and high adoption rate of these services by healthcare organizations to improve care coordination, patient care, and business operations across the health systems are some of the key factors.
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