Healthcare Consulting Services Market Size, Share, Demand Overview and Industry

Posted by Shrikant Gadewar on February 6th, 2020

Market Overview:

The healthcare consulting services enhance the smooth functioning of different activities in healthcare owing to increasing connectivity, and the need for simplification of the process is driving growth of the global healthcare consulting services market. Additionally, the increase in demand for consulting services globally owing to the increase in disposable income as well as the awareness about the health and advanced healthcare option is driving growth of the global healthcare consulting services market. However, the factors, including the availability of newer technologies and less product differentiation, are hampering growth of the global healthcare consulting services market.

Report from Market Research Future (MRFR) suggests that the global Healthcare Consulting Services Market Size is anticipated to expand at a CAGR of 10.4% over the forecast period from 2019 to 2024. This growth can be attributable to the increasing adoption of healthcare services by several companies, hospitals, and clinics. Additionally, healthcare consulting is one of the trends in the overall healthcare market, which has augmented the strategies such as improved marketing, accounting, and insurance.

The emergence and adoption from several hospitals and clinics are digitalizing the business practices IT security services, IT infrastructure, and support services are fueling growth of the healthcare consulting services market. In addition to this, the emergence of cloud-based solutions is driving growth of the global healthcare consulting services market. Further, the implementation of agile operations resulted in increased revenues of key players. Additionally, the penetration of outsourced IT consulting services such as analytics dashboards, development of clinical platforms, IT procurement, cloud services, and network optimization services have resulted in a surge in demand for healthcare consulting services from the hospitals and clinics.

Regional Analysis:

The Americas are anticipated to remain dominant during the forecast period owing to the strong presence of several key players coupled with the high adoption of advanced technologies in the region. Additionally, increasing numbers if biotech companies and their investment for research and development (R&D) in the region are fueling growth of the global healthcare consulting services market.

However, the market in the Asia Pacific is likely to witness the most lucrative growth in the global healthcare consulting services market owing to increasing awareness about its benefits and rising healthcare spending in the region. Further, increasing investment in the improvement of healthcare infrastructure in the region is driving growth of the global healthcare consulting services market. This is likely to remain a key factor for the growth of the region in the coming years as well.

Industry News:

In 2019,  Ascensus has entered into an agreement to acquire Nyhart. With this acquisition, Ascensus will expand their retirement and healthcare offerings across several cities with leverage of Nyhart's healthcare solutions to add in their product portfolio.

In 2019, BDO has expanded its management consulting portfolio in the Netherlands by acquiring healthcare consultancy Arteria Consulting. Additionally, through this acquisition, the BDO is estimated to expand its services of counseling and to hold a stronger position in the healthcare sector and especially in the healthcare consulting services market.

In 2019, NTT DATA Services announced the acquisition of Cognosante Consulting, LLC. Through this acquisition, the NTT DATA Services is estimated to add 250 specialized consulting resources and intellectual properties, which support the IT transformations.