Overview and Scope
Healthcare consulting refers to the process of sharing expertise, giving advice, and guiding healthcare organizations. A healthcare consultant mainly focuses on common challenges in the healthcare industry, such as financial services, IT services, regulatory challenges, and others for the smooth functioning of the organization.
Sizing and Forecast
The healthcare consulting services market size has grown rapidly in recent years. It will grow from <b>$25.09 billion in 2023 to $28.52 billion in 2024 at a compound annual growth rate (CAGR) of 13.7%. </b> The growth in the historic period can be attributed to regulatory compliance, healthcare reform, cost containment, increased population health management, telehealth integration.
The healthcare consulting services market size is expected to see rapid growth in the next few years. It will grow to <b>$48.08 billion in 2028 at a compound annual growth rate (CAGR) of 13.9%. </b> The growth in the forecast period can be attributed to value-based care expansion, healthcare consumerism, data privacy and compliance, pandemic preparedness, healthcare equity. Major trends in the forecast period include digital transformation consulting, healthcare data analytics, healthcare supply chain management, cybersecurity and data protection, healthcare revenue cycle optimization.
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Segmentation & Regional Insights
The healthcare consulting services market covered in this report is segmented –
1) By Components: Software, Hardware, Services
2) By Operations: Operational Management, Financial, Clincal
3) By End User: Government Bodies, Healthcare Providers, Health Insurance Payers, Pharmaceutical And Biotechnology Companies, Medical Device Companies, Other End Users
<b>North America</b> was the largest region in the healthcare consulting services market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare consulting services market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The rapid adoption of digitalization in healthcare is significantly contributing to the growth of the healthcare consulting services market. Digitalization is the process of using digital technologies to change a business model and provide value-producing opportunities, and improve technology. Digitalization of healthcare provides public health data collection and disease monitoring and surveillance, which helps healthcare consulting providers with professional guidance regarding diseases. For instance, in September 2022, according to the American Medical Association, a US-based physicians and medical students’ professional association and advocacy group, the use of tele-visits/virtual visits by physicians increased from 14% in 2016 to 80% in 2022, while the use of remote monitoring equipment increased from 12% in 2016 to 30% in 2022. Therefore, the rapid adoption of digitalization is driving the growth of the healthcare consulting services market.
Key Industry Players
Major companies operating in the healthcare consulting services market include <b> Alvarez and Marsal Holdings LLC, Bain & Company Inc., Boston Consulting Group, Cognizant Technology Solutions Corp., Deloitte Consulting LLP, Ernst and Young Global Limited, FTI Consulting, Huron Consulting Group Inc., International Business Machines Corporation, IQVIA Holdings Inc., McKinsey and Company, PricewaterhouseCoopers International Limited, Siemens Healthcare GmbH, Accenture PLC., Advisory Board Company, Alvarez & Marsal Holdings LLC, Avalere Health LLC, Cerner Corporation, Change Healthcare Inc., Chartis Group, ECG Management Consultants, Health Catalyst Inc., Klynveld Peat Marwick Goerdeler., L.E.K. Consulting, Leidos Holdings Inc., McBee Associates Inc., Navigant Technologies Private Limited, NaviHealth, Nordic Consulting, Optum Inc., Pivot Point Consulting, Stax Inc., The Chartis Group, Vynamic LLC </b>
The healthcare consulting services market report table of contents includes:
1. Executive Summary
2. Healthcare Consulting Services Market Characteristics
3. Healthcare Consulting Services Market Trends And Strategies
4. Healthcare Consulting Services Market – Macro Economic Scenario
5. Global Healthcare Consulting Services Market Size and Growth
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31. Global Healthcare Consulting Services Market Competitive Benchmarking
32. Global Healthcare Consulting Services Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Healthcare Consulting Services Market
34. Healthcare Consulting Services Market Future Outlook and Potential Analysis
35. Appendix
Top Major Players:
Alvarez and Marsal Holdings LLC
Boston Consulting Group
Cognizant Technology Solutions Corp
Deloitte Consulting LLP
Ernst and Young
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