Global Healthcare Consulting Services Market is Expected to Foresee Significant Growth During the Forecast Period. North America to Witness the Highest Growth
- Vikas Kumar
- June 21, 2022
- HEALTHCARE, NEWS
- Healthcare Consulting Services Market, Healthcare Consulting Services Market Forecast, Healthcare Consulting Services Market Growth, Healthcare Consulting Services Market news, Healthcare Consulting Services Market Share, Healthcare Consulting Services Market Size, Healthcare Consulting Services Market Trend
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The global healthcare consulting services market is expected to grow significantly by 2027 expanding at a reasonable CAGR of around 11% during the forecast period (2021-2027F). A healthcare consulting firm acts as a contracted third-party advisor to a given player in the healthcare sector. Every healthcare organization could potentially contract advisory firms to assist in improving organizational competency.
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The rapid advancement in technology and the rising need for the adoption of the IoT in the healthcare sector for better management drive the market of the consultancy sector. Furthermore, the various companies are merging and expanding their businesses in the healthcare sector to provide better assistance and solution. For instance, In May 2022, Moses & Singer launches MS Strategic Solutions LLC a healthcare and life sciences consulting firm. It is an independent consulting company providing advisory and cybersecurity services to healthcare and life sciences clients. Furthermore, the increasing competition in the healthcare sector along with the increasing number of startups also contributes to the market growth of the healthcare consulting services.
Based on service type, the market is segmented into digital health consulting, IT consulting, operations consulting, strategy consulting, financial consulting, and HR & talent consulting. The operations consulting services had a significant share in the market as it helps improve the efficiency of the value chain of the healthcare sector. Furthermore, the operation consultancy also deals with healthcare optimization and reimbursements optimization. The increasing number of health insurances and the healthcare reimbursements significantly contribute to the segmental growth during the forecast period.
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Based on end-users, the market is segmented into healthcare providers, health insurance payers, pharmaceutical & biotechnology companies, and medical device companies. The healthcare providers segment is expected to have a considerable share during the forecast period. This is due to government initiatives and technological advancements owing to the increasing demand for better solutions. For instance, In 2019, the Ministry of Health & Family Welfare has undertaken various initiatives using Information & Communication Technologies (ICT) for improving the efficiency & effectiveness of the public healthcare system.
Additionally, the report provides detailed report also provides insights into the global Healthcare Consulting Services market according to the regions such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a significant market for healthcare consultancy owing to the availability of government funding along with the increasing prevalence of the healthcare IT sector. Furthermore, the rising demand from medical facilities for better and integrated systems for efficient work is responsible for the significant market share of the region in the healthcare consulting market.
Accenture, Cognizant, Deloitte, McKinsey & Company, PwC, EY, Huron Consulting Group Inc., KPMG, Boston Consulting Group, and IQVIA. are some of the key players operating in the global Healthcare Consulting Services market. Several M&As along with partnerships have been undertaken by these players to develop various types of Healthcare Consulting Services devices.
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Global Healthcare Consulting Services Market Segmentation
Market Insight, by Service Type
- Digital Health Consulting
- IT Consulting
- Operations Consulting
- Strategy Consulting
- Financial Consulting
- HR & Talent Consulting
Market Insight, by End-users
- Healthcare Providers
- Health Insurance Payers
- Pharmaceutical & Biotechnology Companies
- Medical Device Companies
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- McKinsey & Company
- Huron Consulting Group Inc.
- Boston Consulting Group