The Worldwide Healthcare Consulting Services Industry is Expected to Reach $41.2 Billion by 2026

DUBLIN, Jan. 19, 2022 /PRNewswire/ -- The "Healthcare Consulting Services Market by Type of Service (Digital Health, IT, Operations, Strategy, Financial, HR & Talent), End User (Government Bodies, Healthcare Providers, Pharmaceutical & Biotechnology Companies), and Region - Global Forecasts to 2026" report has been added to ResearchAndMarkets.com's offering.

The global healthcare consulting services market is projected to reach USD 41.2 billion by 2026 from USD 23.9 billion in 2021, at a CAGR of 11.5% during the forecast period.

Healthcare consulting firms specialize in providing business consulting services to the healthcare industry in areas such as finance, accounting, marketing, insurance, healthcare management, billing, coding, regulations & compliance, healthcare standards, and many other similar areas. Growth in the healthcare consulting services market can be primarily attributed to the growing budget cuts, increasing pricing pressure, changing healthcare policies/regulations, and rising technological disruption across the healthcare industry that has resulted in a partnership between the healthcare providers, payers, and life science companies with the healthcare consultancy firms.

However, hidden costs of consulting services and concerns regarding data confidentiality are likely to challenge market growth in the coming years.

Operations consulting segment to hold the largest share of the healthcare consulting services market

Based on the type of service segment, the healthcare consulting services market is segmented into digital health consulting, IT consulting, strategy consulting, operations consulting, financial consulting, and HR & talent consulting. The operations consulting segment accounted for the largest market share of 22.8% in 2020. The large share of this segment can be attributed to the transition of the healthcare industry from fee-for-service to coordinated care model, resulting in an increased dependency on operations consultants.

Healthcare providers to be the fastest-growing end user segment in the healthcare consulting services market

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. The healthcare providers segment is expected to witness the highest CAGR of 12.2% during the forecast period. The healthcare industry is undergoing a significant transformation, with constantly changing regulatory guidelines and technological advancements, which is a prominent factor driving the demand for healthcare consultants among hospitals and physician groups.

The US to be the most prominent country for healthcare consulting services in North America

North America is expected to account for the largest share of 46.8% of the global healthcare consulting services market in 2021, followed by Europe (27.3%) and the RoW (17.5%).The US healthcare provider industry is constantly challenged by industry-wide reforms. In order to achieve the clinical, financial, and operational return on investments, health organizations need to be strategic in their selection, implementation, and utilization of digital and IT systems. This has caused various healthcare organizations to partner with healthcare consulting firms for the implementation, maintenance, and training of such systems/solutions for improving organizational performance and driving business growth.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Healthcare Consulting Services: Market Overview
4.2 North American Healthcare Consulting Services Market, by Type of Service, 2020
4.3 Healthcare Consulting Services Market, by End-user, 2021 Vs. 2026
4.4 Healthcare Consulting Services Market, by Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Rate of Digitization in Healthcare
5.2.1.2 Increasing Adoption of Big Data Analytics, Iot, and Cloud Deployment in the Healthcare Industry
5.2.1.3 Changing Healthcare Landscape with Respect to Regulatory Compliance and Technological Evolution
5.2.1.4 Decreasing Number of In-House Experts in the End-Use Industries
5.2.1.5 Rising Level of Government Support for Hcit Solutions
5.2.1.6 Rising Need for Structural Changes and New Business Models in the Healthcare Industry
5.2.1.7 Increasing Number of Patients Suffering from Various Chronic and Infectious Diseases
5.2.1.8 Rising Need for Data Security
5.2.1.9 Increasing Pressure to Reduce the Rising Healthcare Costs
5.2.2 Restraints
5.2.2.1 Rising Number of Concerns Regarding Data Confidentiality
5.2.2.2 Increasing Number of Hidden Costs of Consulting Services
5.2.3 Opportunities
5.2.3.1 Growing Demand for Cloud Consulting
5.2.3.2 Increasing Potential for Healthcare Consulting Services in the Emerging Markets
5.2.3.3 Increasing Consolidation in the Healthcare Industry
5.2.4 Challenges
5.2.4.1 Rising Number of Multi-Sourcing Approaches
5.3 Impact of COVID-19 on the Healthcare Consulting Services Market
5.4 Porter's Five Forces Analysis
5.5 Pricing Analysis
5.6 Technology Analysis
5.6.1 Machine Learning
5.6.2 Artificial Intelligence
5.6.3 Internet of Things
5.6.4 Blockchain
5.6.5 Cloud Computing
5.7 Regulatory Analysis
5.7.1 North America
5.7.2 Europe
5.7.3 Asia-Pacific
5.7.4 Middle East & Africa
5.7.5 Latin America
5.8 Ecosystem Analysis
5.9 Value Chain Analysis
5.10 Case Study Analysis

6 Healthcare Consulting Services Market, by Type of Service
6.1 Introduction
6.2 Digital Health Consulting
6.2.1 Digital Health Consulting to Gain Importance on the Back of Technological Innovation
6.3 It Consulting
6.3.1 Challenging and Time-Consuming Nature of Formulating Hcit Strategies to Drive Market Growth
6.4 Operations Consulting
6.4.1 Transition from Fee-For-Service to Coordinated Care Model to Boost the Demand for Operations Consulting
6.5 Strategy Consulting
6.5.1 Multiple Disciplines of Strategic Consulting Services to Increase the Demand for Organizational Improvement
6.6 Financial Consulting
6.6.1 Demand for Risk Management, Compliance, and Corporate Finance to Grow During the COVID-19 Pandemic
6.7 Hr & Talent Consulting
6.7.1 Demand for Hr Transformations to Boost Processes and Organizational Efficiency to Drive the Segment Growth

7 Healthcare Consulting Services Market, by End-user
7.1 Introduction
7.2 Government Bodies
7.2.1 Growing Investments in the Modernization of Digital and Technology Infrastructure to Drive Market Growth
7.3 Healthcare Providers
7.3.1 Increasing Pressure to Curb Rising Healthcare Costs to Drive Market Growth
7.4 Health Insurance Payers
7.4.1 Growing Stringency of Regulations for Payers to Positively Impact the Demand for Healthcare Consultants
7.5 Pharmaceutical & Biotechnology Companies
7.5.1 Wide Range of Services Offered by Healthcare Consultants to Drive the Demand in the Coming Years
7.6 Medical Device Companies
7.6.1 Increasing Adoption of Healthcare Consulting Services to be Competitive in the Medical Device Industry to Drive Business Growth

8 Healthcare Consulting Services Market, by Region

9 Competitive Landscape
9.1 Overview
9.2 Market Ranking Analysis (2020)
9.3 Key Market Players, by Type of Consulting Services
9.4 Company Evaluation Quadrant
9.4.1 Stars
9.4.2 Emerging Leaders
9.4.3 Participants
9.4.4 Pervasive Players
9.5 Competitive Scenario
9.5.1 Product/Service Launches & Approvals
9.5.2 Deals
9.5.3 Other Developments

10 Company Profiles
10.1 Key Players
10.1.1 Accenture
10.1.2 Cognizant
10.1.3 Deloitte
10.1.4 Mckinsey & Company
10.1.5 Pwc
10.1.6 Ey
10.1.7 Huron Consulting Group, Inc.
10.1.8 Kpmg
10.1.9 Boston Consulting Group (Bcg)
10.1.10 Bain & Company, Inc.
10.1.11 Iqvia, Inc.

11 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/ynobrc

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