Rockville, Feb. 10, 2023 (GLOBE NEWSWIRE) -- The global healthcare consulting services market is forecast to be worth US$ 14,952 Million in the fiscal year 2023, up from US$ 14,000 Million in the fiscal year 2022. From 2023 to 2033, the market is projected to expand at a 6.80% CAGR, reaching a value of US$ 28,867.68 Million by the year 2033.
Healthcare consulting services are in high demand because of the rising consumption of effective approaches. Healthcare procurement is in high demand worldwide due to its applications across a broad range of fields of study within the healthcare sector. Moreover, as a consequence of favorable government policies including both developed and emerging nations, opportunities for medical IT consulting are broadening. The potential of medical consultants to enhance the organization's overall operations of healthcare organizations is anticipated to support the expansion of the healthcare consulting services market over the coming years.
Healthcare reform has forced hospitals and other healthcare providers to restructure their procedures to serve millions of uninsured patients and meet new regulatory requirements. Hospitals are starting to recognize the importance of implementing appropriate communication and technology solutions. The need to modify the current infrastructure to increase productivity and reduce costs is propelling the healthcare consulting services market forward.
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In 2023, North America is accounting for the highest market share at 36%. This is due to the increasing acceptance of digital solutions by healthcare organizations such as government agencies, drug manufacturers, biotech enterprises' medical facilities, and other establishments. Furthermore, North America has a strict regulatory structure in place to remain up with changing rules and regs; there is a large market for supervisory consulting services in the region among healthcare organizations, in addition to assisting the region's future growth. Over the projected timeframe, the North American market is going to expand at a CAGR of 6.2%.
Key Takeaways from the Market Study
- Historically, the healthcare consulting services market expanded at a 5.8% CAGR.
- From 2023 to 2033, the Financial Consulting segment is anticipated to have a 31% market share and dominate the world market.
- From 2023 to 2033, the healthcare payers segment is forecast to have a 31% market share and to dominate the global market.
- By 2023, North America is expected to hold 36% of the global market.
- Over the forecast period of 2023-2033, the Europe region is expected to grow at a CAGR of 22%.
“Healthcare consulting services that facilitate integrated payer-provider risk allocation, public-private partnerships, and other diagnostic interoperability contracts are rapidly expanding, fueling market expansion,” says Fact.MR’s analyst
Key Segments Covered in the Healthcare Consulting Services Market Report
- By Services :
- Digital Consulting
- IT Consulting
- Financial Consulting
- Operation Consulting
- Strategy Consulting
- HR & Talent Consulting
- By End Use Industry :
- Pharmaceuticals
- Medical Technology
- Healthcare Payers
- Healthcare Providers
- Government Bodies
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia and Oceania
- Middle East & Africa
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| Report Attributes | Details | |
| Anticipated Base Year Value (2022) | US$ 14,000 Million | |
| Expected Market Value (2023) | US$ 14,952 Million | |
| Projected Forecast Value (2033) | US$ 28,867.68 Million | |
| Global Growth Rate (2023-2033) | 6.80% | |
| Expected Growth Rate of the US Market (2023-2033) | 6.40% CAGR | |
| No. of Pages | 170 Pages | |
| No. of Tables | 41 Tables | |
| No. of Figures | 74 Figures | |
Competitive Landscape
The existence of a large number of international companies characterizes the global market. Most of these businesses rely heavily on partnerships, collaborations, and mergers and acquisitions.
- In May 2022, Deloitte procured Entrago, a consulting company based in the United States, to expand its consulting capabilities in healthcare services, finance, and public infrastructure.
- In April 2021, Cognizant (US) acquired Servian, an enterprise transformation consultancy, to widen Cognizant's embedded, end-to-end digital production abilities in Australia and New Zealand and to help individuals with cloud implementation, digital product, and service development, data value decryption, enterprise application transformation, and performance improvement.
Prominent Players in The Global Market
- Bain & Company
- BearingPoint
- Boston Consulting Group
- BridgeSpan
- Coeus Consulting
- Deloitte
- EY
- FTI Consulting
- KPMG International
- L.E.K. Consulting
- Mazars
- Mercer
- Nextcontinent
- PA Consulting
- Strategy&
- Cognizant (US)
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More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global healthcare consulting services market, presenting a historical analysis from 2017 to 2021 and forecast statistics for the period of 2023-2033.
The study reveals essential insights based on Healthcare Consulting Services market analysis by Services (Digital Consulting, IT Consulting, Financial Consulting, Operation Consulting, Strategy Consulting, HR & Talent Consulting), By End-Use Industry (Pharmaceuticals, Medical Technology, Healthcare Payers, Healthcare Providers, Government Bodies) and by region (North America, Latin America, Europe, East Asia, South Asia and Oceania, And The Middle East & Africa).
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