Market Size – USD 12.63 Billion in 2021, Market Growth - CAGR of 8.9%, Market Trends –the increasing demand from electronics industry is widening the scope for Healthcare Consulting Services Market.
The market for Healthcare Consulting Services was USD 12.63 billion in 2021 and is estimated to reach USD 22.94 billion by 2028, growing at a CAGR of 8.9% during the forecasted timespan.
The healthcare industry is on the verge of a revolution. Globally, healthcare institutions are preparing for the next generation of healthcare services: a consumer-centric, prevention-focused system that cares for patients. Today's healthcare organizations face several challenges, including changes in customer behavior, regulatory standards, and market dynamics. Healthcare consultants collaborate with these organizations to drive innovation, improve patient value, and minimize the complexity and cost of running systems. Healthcare organizations understand the need to save costs while providing greater value. As a result, companies must hire healthcare consultants. These specialists are management analysts who examine the organization's earnings, efficiency, and structure and recommend ways to enhance them. Healthcare organizations utilize healthcare consultants to help them develop and restructure their infrastructure, thus supporting the development of the market.
Major Key Players for Healthcare Consulting Services Market:
- Elbit Systems Ltd.
- Boston Consulting Group
- Accenture Consulting
- Bain & Company
- Ernst & Young
- Cognizant
- STREIT Group
- Deloitte Touche Tohmatsu Limited
- McKinsey & Company
- PwC
- Huron Consulting
- KPMG
- Others
Market Dynamics and Factors:
Healthcare consulting is important since it is responsible for balancing the patient care of a medical-related organization with its business activities. This lucrative line of work is becoming more important as the population ages. Because the medical field is constantly evolving, healthcare consultants are important because, in addition to assisting companies in overcoming the industry's standard challenges, they can also advise their employers on how to best manage increasing patient loads and overcome new obstacles as they emerge. Healthcare consultants are important because they have a greater level of business expertise than the average employee and may deliver creative, unique solutions to an organization's problems thus, strengthening the growth of the healthcare consulting services market during the projected timeframe.
Healthcare Consulting Services Market Report Highlight:
- By service type, the IT segment is estimated to have the highest share of the healthcare consulting services market over the forecasted timeframe. Technology's importance and influence in the healthcare industry are constantly growing. As a result, medical-related firms demand healthcare consultants who understand the challenges of technology implementation.
- By end-users, the pharma and biotech segments are anticipated to dominate the market during the projected period. Pharmaceutical and biotechnology companies transform inspiration into innovation, developing novel treatments that improve and save lives. The global pandemic has propelled digital, data, and analytics to the forefront of the industry, reducing the time it takes to develop new medications and provide them to patients. Healthcare consulting firms may effectively convey regulatory information, allowing the internal and external understanding of short- and long-term development.
- The APAC region is anticipated to develop at the highest CAGR over the analysis period. In terms of revenue and employment, the Indian healthcare landscape has grown to be one of the main sectors of the Indian economy. The demand to offer high-quality care at lower prices, as well as changing regulatory frameworks, are driving healthcare businesses to seek assistance from consulting firms, hence consolidating the growth of the healthcare consulting services market in this region.
Key Industry Development:
In September 2021, Accenture announced the acquisition of Gevity. This acquisition will bolster Accenture's healthcare consulting capabilities in Canada and worldwide.
In January 2020, KLAS Research, one of the industry's leading research and insights firms, declared Accenture the top-ranked healthcare management consulting firm. Accenture received a KLAS Research grade of 94.7 out of 100 in the healthcare management consulting area, based on an industry ranking of eight professional services firms.
Healthcare Consulting Services Market Segmentation:
By Service Type
- IT Consulting
- Digital Consulting
- Financial Consulting
- Operations Consulting
- Strategy Consulting
- HR & Talent Consulting
By End Users
- Government Bodies
- Health Insurance Payers
- Hospitals
- Pharmaceutical And Biotech Companies
- Research Institutes
For this report, Introspective Market Research has segmented the Healthcare Consulting Services Market based on region:
Regional Outlook (Revenue in USD Billion; Volume in Units, 2022-2028)
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Turkey
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Vietnam
- Thailand
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Iran
- Rest of MEA
- Latin America
- Brazil
- Argentina
- Rest of LATAM
