Healthcare Consulting Services Market Size, Share & Trends Analysis Report By Services (Strategic Management Consulting), By End-use (Hospitals), By Region, And Segment Forecasts, 2023 - 2030

Healthcare Consulting Services Market Size, Share & Trends Analysis Report By Services (Strategic Management Consulting), By End-use (Hospitals), By Region, And Segment Forecasts, 2023 - 2030

Healthcare Consulting Services Market Growth & Trends

The global healthcare consulting services market size is expected to reach USD 25.9 billion by 2030 and register a CAGR of 8.3% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing budget cuts, the desire to enhance operational efficiency, changing healthcare policies and regulations, and growing demand to implement new technologies such as big data analytics, cloud deployment, and IoT among healthcare institutions such as life sciences companies and government bodies are some of the key factors driving the healthcare consulting services market.

Healthcare consulting services firms assist healthcare organizations in increasing their efficiency and profits; they also assist in providing structural recommendations for the firm. These advantages associated with healthcare consulting are expected to improve demand for these services across the forecast period. Over the years, there has been uncertainty over healthcare reform, growth in employer self-insurance, a rise in patient pay responsibility, and a growing demand for understanding healthcare coverage. These issues are likely to improve the demand for healthcare consulting services for managing payers' needs.

Pharmaceutical companies are heavily investing in the research and development of new drugs. As a result, the number of new drugs in the pipeline has increased in recent years. According to the Pharma R&D annual review, as of 2022, over 20,109 drugs were in the pipeline. These drugs are expected to be launched in the coming years. Due to the uncertainties created by the COVID-19 pandemic, pharmaceutical companies are expected to collaborate with strategic consultants to develop their launch strategy. This is expected to support market growth in the post-pandemic period.

Healthcare Consulting Services Market Report Highlights

• Based on services the strategic management segment held the largest share of 49.0% in 2022 owing to the growing demand for M&A strategy consulting among the healthcare organizations
• Based on end-use, the pharmaceutical companies segment accounted for a maximum share of 27.9% in 2022. The growing need to manage costs associated with various operations in the pharmaceutical company and the increasing demand for brand management of existing products are supporting segment growth
• Based on region, North America dominated the market in 2022 and accounted for a share of 47.3% due to the increase in the adoption of digitalization among healthcare organizations