Healthcare Consulting Services Market

Healthcare Consulting Services Market Size, Share, Growth Analysis, By Type of Service(Digital Health, IT, Operations, Strategy), By End User(Government Bodies, Healthcare Providers, Pharmaceutical & Biotechnology Companies), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35D2020 | Region: Global | Published Date: July, 2001
Pages: 157 | Tables: 66 | Figures: 75

Healthcare Consulting Services Market News

·         In October 2021, Cognizant (US) acquired Servian, an enterprise transformation consultancy, to expand Cognizant's integrated, end-to-end digital transformation capabilities in Australia and New Zealand and assist clients in moving to the cloud, building digital products and services, unlocking value from data, modernising enterprise applications, and achieving operational excellence.

·         In April 2021, PwC (UK) launched a new facility in Hyderabad called the Acceleration Centre (AC), which is intended to be a truly cross-functional and collaborative location.

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Healthcare Consulting Services Market size was valued at USD 13.7 billion in 2019 and is poised to grow from USD 14.83 billion in 2023 to USD 25.9 billion by 2031, growing at a CAGR of 8.3% in the forecast period (2024-2031).

The healthcare consulting services market is highly consolidated owing to the presence of prominent competitors. Significant number of market participants in the healthcare consulting services market are currently concentrating more on establishing successful joint ventures, acquisitions, and/or collaborations in order to increase their respective clienteles. 'McKinsey & Company', 'Boston Consulting Group', 'Deloitte Consulting LLP', 'Accenture', 'PwC', 'KPMG LLP', 'Ernst & Young LLP', 'Bain & Company', 'Huron Consulting Group Inc.', 'Navigant Consulting, Inc.', 'The Advisory Board Company', 'AlixPartners LLP', 'FTI Consulting, Inc.', 'Alvarez & Marsal Holdings, LLC', 'HealthCare Appraisers, Inc.', 'The Chartis Group', 'ZS Associates', 'Guidehouse', 'Gartner, Inc.', 'L.E.K. Consulting LLC'

Healthcare consulting services are expected to rise in demand during the forecast period as it aids in money saving for businesses. It reduces the cost burden related to human capital, space, operations, and resource management. As healthcare payers are overwhelmed with health insurances and its margins, healthcare providers and hospitals struggle with many uninsured patients. Turning to healthcare consultants for best suited models makes their job easier.

The number of merger and acquisition activity in the healthcare sector has been steadily increasing. Synchronizing the digital and IT infrastructure of many organizations during merger activities is a very difficult process. IT departments are responsible for managing ongoing electronic medical record management as well as data migration and synchronization. Along with the rising need for anytime, anywhere access to patient data, there exist difficulties with intra-enterprise communication and data sharing. Experienced IT and digital health consultants' participation in these initiatives can aid in harmonizing and standardizing systems throughout the company/organization.

North America is predicted to account for the largest share of the worldwide healthcare consulting services market in 2021, accounting for 47%, followed by Europe and the Rest of the World. The healthcare provider business in the United States is continually being challenged by industry-wide reforms. Health organisations must be strategic in their selection, installation, and exploitation of digital and IT systems in order to achieve clinical, financial, and operational returns on investments. As a result, numerous healthcare companies have partnered with healthcare consulting firms to build, maintain, and train such systems/solutions in order to improve organisational performance and drive business development.

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Healthcare Consulting Services Market

Report ID: SQMIG35D2020

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