Healthcare Consulting Services Market Will Hit at a Highest CAGR of 11.5%| Major Players Cognizant (US), Deloitte (UK), McKinsey & Company (US), PwC (UK), EY (UK)

The Healthcare Consulting Services Market research report covers market production, definition, and application. It is essentially divided into a few key locales, import/ export, income, and developments in the Healthcare Consulting Services Market. The Healthcare Consulting Services Market research report provides features of the vital market fragments and market players. In addition, it covers market patterns with market share, size, and development by region. It also examines critical participants based on their establishment date, mergers, and acquisitions, collaboration, and revenue.

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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.

Some of the prominent players operating in the healthcare consulting services market are

Cognizant (US),
Deloitte (UK),
McKinsey & Company (US),
PwC (UK),
EY (UK),
Huron Consulting Group Inc. (US),
KPMG (Netherlands),
Boston Consulting Group (US),
Bain & Company, Inc. (US),
and IQVIA (US).

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.

Breakdown of supply-side primary interviews:

By Company Type: Tier 1 – 42%, Tier 2 – 37%, and Tier 3 – 21%
By Designation: Director-level – 24%, C-level – 34%, and Others – 42%
By Region: North America - 32%, Europe – 30%, APAC –24%, Rest of the World –14%

Research Coverage

This report studies the healthcare consulting services market based on type of service, end user and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to the regions.

Key Benefits of Buying the Report

This report focuses on various levels of analysis—industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.

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Table Of Contents

1 Introduction
1.1 Objectives Of The Study
1.2 Market Definition
1.2.1 Inclusions & Exclusions
1.2.2 Market Segmentation
1.2.3 Years Considered For The Study
1.3 Currency
1.4 Limitations
1.5 Stakeholders
1.6 Summary Of Changes

2 Research Methodology
2.1 Research Data
2.2 Research Methodology Steps
Figure 1 Research Methodology: Healthcare Consulting Services Market
Figure 2 Research Design
2.2.1 Secondary Data
2.2.1.1 Secondary Sources
2.2.2 Primary Data
Figure 3 Breakdown Of Primary Interviews: By Company Type, Designation, And Region
2.2.2.1 Primary Sources
2.2.2.2 Key Insights From Primary Sources
2.3 Market Size Estimation
Figure 4 Research Methodology: Hypothesis Building
2.4 Top-Down & Bottom-Up Approaches
Figure 5 Market Size Estimation Methodology (Supply Side): Revenue Analysis Approach
Figure 6 Market Size Estimation Methodology (Bottom-Up Approach): Collective Revenue Of All Services/Solutions Of Vendors
Figure 7 Market Size Estimation Methodology (Top-Down Approach): Segmental Analysis
2.5 Market Breakdown And Data Triangulation
Figure 8 Data Triangulation Methodology
2.6 Assumptions For The Study
2.7 Covid-19 Specific Assumptions
2.8 Risk Assessment

3 Executive Summary
Figure 9 Healthcare Consulting Services Market, By Type Of Service, 2021 Vs. 2026 (Usd Million)
Figure 10 Healthcare Consulting Services Market Share, By End User, 2020
Figure 11 Geographic Snapshot Of The Healthcare Consulting Services Market

4 Premium Insights
4.1 Healthcare Consulting Services: Market Overview
Figure 12 Growing Adoption Of Healthcare It Solutions To Drive The Market Growth
4.2 North American Healthcare Consulting Services Market, By Type Of Service, 2020
Figure 13 Operations Consulting Accounted For The Largest Share Of The North American Market In 2020
4.3 Healthcare Consulting Services Market, By End User, 2021 Vs. 2026
Figure 14 Government Bodies To Dominate The End User Segment In 2021
4.4 Healthcare Consulting Services Market, By Region
Figure 15 Asia Pacific To Witness The Highest Growth During The Forecast Period

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 16 Impact Analysis For Healthcare Consulting Services Market: Drivers, Restraints, Opportunities, And Challenges
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
Table 1 Healthcare Consulting Services Market: 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
Table 2 Ecosystem: Healthcare Consulting Services Market
5.9 Value Chain Analysis
Figure 17 Value Chain: Healthcare Consulting Services Market
5.1 Case Study Analysis
5.10.1 Case Study 1
5.10.2 Case Study 2
5.10.3 Case Study 3

6 Healthcare Consulting Services Market, By Type Of Service
6.1 Introduction
Table 3 Healthcare Consulting Services Market, By Type Of Service, 2019–2026 (Usd Million)
6.2 Digital Health Consulting
6.2.1 Digital Health Consulting To Gain Importance On The Back Of Technological Innovation
Table 4 Digital Health Consulting Services Market, By Region, 2019–2026 (Usd Million)
Table 5 North America: Digital Health Consulting Services Market, By Country, 2019–2026 (Usd Million)
Table 6 Europe: Digital Health Consulting Services Market, By Country, 2019–2026 (Usd Million)
Table 7 Asia Pacific: Digital Health Consulting Services Market, By Country, 2019–2026 (Usd Million)
6.3 It Consulting
6.3.1 Challenging And Time-Consuming Nature Of Formulating Hcit Strategies To Drive Market Growth
Table 8 It Consulting Services Market, By Region, 2019–2026 (Usd Million)
Table 9 North America: It Consulting Services Market, By Country, 2019–2026 (Usd Million)
Table 10 Europe: It Consulting Services Market, By Country, 2019–2026 (Usd Million)
Table 11 Asia Pacific: It Consulting Services Market, By Country, 2019–2026 (Usd Million)
6.4 Operations Consulting
6.4.1 Transition From Fee-For-Service To Coordinated Care Model To Boost The Demand For Operations Consulting
Table 12 Operations Consulting Services Market, By Region, 2019–2026 (Usd Million)
Table 13 North America: Operations Consulting Services Market, By Country, 2019–2026 (Usd Million)
Table 14 Europe: Operations Consulting Services Market, By Country, 2019–2026 (Usd Million)
Table 15 Asia Pacific: Operations Consulting Services Market, By Country, 2019–2026 (Usd Million)
6.5 Strategy Consulting
6.5.1 Multiple Disciplines Of Strategic Consulting Services To Increase The Demand For Organizational Improvement
Table 16 Strategy Consulting Services Market, By Region, 2019–2026 (Usd Million)
Table 17 North America: Strategy Consulting Services Market, By Country, 2019–2026 (Usd Million)
Table 18 Europe: Strategy Consulting Services Market, By Country, 2019–2026 (Usd Million)
Table 19 Asia Pacific: Strategy Consulting Services Market, By Country, 2019–2026 (Usd Million)
6.6 Financial Consulting
6.6.1 Demand For Risk Management, Compliance, And Corporate Finance To Grow During The Covid-19 Pandemic
Table 20 Financial Consulting Services Market, By Region, 2019–2026 (Usd Million)
Table 21 North America: Financial Consulting Services Market, By Country, 2019–2026 (Usd Million)
Table 22 Europe: Financial Consulting Services Market, By Country, 2019–2026 (Usd Million)
Table 23 Asia Pacific: Financial Consulting Services Market, By Country, 2019–2026 (Usd Million)
6.7 Hr & Talent Consulting
6.7.1 Demand For Hr Transformations To Boost Processes And Organizational Efficiency To Drive The Segment Growth
Table 24 Hr & Talent Consulting Services Market, By Region, 2019–2026 (Usd Million)
Table 25 North America: Hr & Talent Consulting Services Market, By Country, 2019–2026 (Usd Million)
Table 26 Europe: Hr & Talent Consulting Services Market, By Country, 2019–2026 (Usd Million)
Table 27 Asia Pacific: Hr & Talent Consulting Services Market, By Country, 2019–2026 (Usd Million)

7 Healthcare Consulting Services Market, By End User

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