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 202

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

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 consultingsegment 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 servicesmarket

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 prominentcountry 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%

Some of the prominent players operating in the healthcare consulting services market are Accenture (Ireland), 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).

Research Coverage

This report studies the healthcare consulting servicesmarket based on type of service, end userand 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.