Healthcare IT Consulting Market By Consulting Type (Healthcare application analysis, design, and development, HCIT strategy and project/program management, HCIT integration and migration, HCIT change management, Healthcare/medical system and security set-up and risk assessment, Healthcare enterprise reporting and data analytics services, Healthcare business process management, Others), By End User (Healthcare providers, Healthcare payers, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global healthcare IT consulting market was valued at $21,880.59 million in 2021, and is projected to reach $102,965.04 million by 2031, registering a CAGR of 16.7% from 2022 to 2031. Healthcare IT consulting companies provide health organizations with professional guidance spanning a wide range of services that may include manufactured goods, mobile devices, information systems, and retail. Healthcare companies face several challenges, such as changes in customer behavior, surge in regulatory demands, and market dynamics. Healthcare consultants work with these companies to innovate, drive better value for patients, and reduce the complexity and cost of operating systems.
The key factors that drive the growth of the market include rise in prevalence of cancer and chronic diseases; increase in geriatric population; and rise in demand to decrease healthcare costs. These factors drive the growth of the healthcare IT consulting market. For instance, according to the International Agency of Cancer Research, 9,503,710 new cancer cases were diagnosed in Asia in 2020. The reasons behind the rise in the prevalence of cancer are aging, global warming, and an unhealthy lifestyle, which leads to physiological changes triggering cancer. The surge in the prevalence of cancer and chronic diseases, increases the demand for consulting services for healthcare industry for the development of novel drug delivery system by reducing the cost of treatment. Moreover, rise in adoption of digitalization in healthcare IT solutions and increase in investments in healthcare IT service and the support or infrastructure provided by the government and private sector are anticipated to fuel the market growth.
Furthermore, increased preference for HCIT solutions during the COVID-19 pandemic, presence of large hospitals that demand integrated healthcare networks, presence of major players offering healthcare consulting services, and surge in adoption rate of these services by healthcare organizations to improve patient care coordination and business operations across the health systems are some of the key factors driving the growth of the healthcare IT consulting market.
However, the dearth of skilled professionals, the high cost of consulting services, data security, and privacy concerns are some of the factors which hamper the growth of the market. Conversely, emerging healthcare IT consulting services in developing countries and low-income countries lacking access to basic healthcare and the surge in technological advancements in the field of smartphones and internet connectivity to improve clinical outcomes, patient experience, and patient engagement are expected to accelerate market growth and provide lucrative opportunity for the growth of the market during the forecast period.
The healthcare IT consulting market is segmented on the basis of consulting type, end user and region. By consulting type, the market is segmented into HCIT strategy and project/program management, HCIT integration and migration, HCIT change management, healthcare/medical system & security set-up and risk assessment, healthcare enterprise reporting and data analytics services, healthcare business process management, healthcare application analysis, design and development and others. By end user, the market is segmented into healthcare providers, healthcare payers and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By end user, on the basis of healthcare providers, the market is further sub-segmented into hospitals and physicians’ group, ambulatory care centers, diagnostic and imaging centers and others. On the basis of healthcare payers, it is further bifurcated into private payers and public payers.
North America accounted for a majority of the healthcare IT consulting market share in 2021 and is anticipated to remain dominant during the forecast period. The healthcare IT consulting market is mainly driven by the increase in government initiatives for eHealth, subsequent improvements in the healthcare infrastructure in emerging countries, rise in medical tourism, and surge in demand for quality healthcare.
Asia-Pacific was the second largest contributor to the market in 2021, and is expected to register the fastest CAGR during the forecast period. This is due to the presence of high unmet medical needs and constantly improving healthcare infrastructure to cure chronic disorders. In addition, the rapidly growing elderly population in emerging nations is set to drive the market growth in the Asia-Pacific region. This helps several market players to invest in Asia-Pacific countries, which in turn contributes toward the market growth.
The key players that operate in the Healthcare IT consulting market are Allscripts Healthcare LLC, Cognizant, Deloitte, Epic System Corporation, General Electric Company, IBM Corporation, Koninklijke Philips N.V., McKesson Corporation, Oracle Corporation, Siemens AG
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the healthcare it consulting market analysis from 2021 to 2031 to identify the prevailing healthcare it consulting market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the healthcare it consulting market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global healthcare it consulting market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Consulting Type
Healthcare application analysis, design, and development
HCIT strategy and project/program management
HCIT integration and migration
HCIT change management
Healthcare/medical system and security set-up and risk assessment
Healthcare enterprise reporting and data analytics services
Healthcare business process management
Others
By End User
Healthcare providers
Type
Hospitals and physician groups
Ambulatory care centers
Diagnostic and imaging centers
Others
Healthcare payers
Type
Private payers
Public payers
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Allscripts Healthcare LLC
Cognizant Technology Inc.
Koninklinjke Philips
General Electric Company
McKesson Corporation
Siemens AG
IBM Corporation
Epic Systems Corporation
Deloitte Touche Tohmatsu Limited
Oracle Corporation
Please Note: It will take 7-10 business days to complete the report upon order confirmation.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook