Healthcare Consulting Services Market Synopsis
According to Market Research Future (MRFR), the global healthcare consulting services market is estimated to garner a substantial market value, expanding at a CAGR of 10.4% during the review period from 2019 to 2024
The healthcare consulting services market 2020 is projected to be majorly driven by the growing digitalization of medical management. The rising incidence of chronic illness is projected to surge the demand for efficacious treatment methods, thereby enhancing the demand significantly. The rising importance of value-based care is anticipated to grow the market additionally. Further, the online healthcare consultation is anticipated to play a vital role in developing the market exponentially.
On the contrary, expenses associated with software development are likely to hinder the market growth during the forecast period. However, the increasing healthcare expenditure and rising awareness about healthcare consulting services are predicted to boost the market expansion in the coming period.
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Healthcare Consulting Services Market Segmentation
The segment analysis of the global healthcare consulting services market is done by application, end-user, type of service, and component.
The application-based segments of the global healthcare consulting services market are operations management, financial, population health, and clinical. The operation management segment is further segmented into demand forecasting, workforce planning and scheduling, inpatient scheduling, and outpatient scheduling. Population health is sub-segmented into population risk management, patient engagement, population therapy management, and others. The finance segment is further sub-segmented into revenue cycle management, fraud detection, and others.
The end-user based segments of the global healthcare consulting services market are hospitals and clinics, life science companies, and government bodies.
The type of service-based segments of the global healthcare consulting services market are IT consulting, digital consulting, financial consulting, operations consulting, and strategy consulting.
The component-based segments of the global healthcare consulting services market are services, software, and hardware.
Healthcare Consulting Services Market Regional Analysis
Based on the region, the global healthcare consulting services market is segmented into the Americas, Europe, APAC, and the Middle East & Africa.
As per the analysis, the Americas is anticipated to dominate the global healthcare consulting services market owing to the robust presence of healthcare players. Further, the region is technically developed and adapts to the changing technology easily, resulting in regional market growth.
Europe is predicted to acquire the second position during the review period. The increasing support from the government to develop the healthcare sector is likely to be the most significant factor in developing the regional market. Also, the growing patient pool is further predicted to stimulate the market growth during the assessment period.
The APAC region is anticipated to be the fastest-growing market during the forecast period owing to the contribution of developing economies in strengthening the healthcare infrastructure. The rising geriatric population is projected to drive the regional market during the review period. Further, increasing initiatives to develop the healthcare sector is predicted to boost the market in the coming period. The emerging economies like China, India, and Japan are projected to play an essential role in boosting the market.
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The MEA region is likely to procure the least market share owing to the presence of poor economies. Further, the lack of health awareness and low per capita income in Africa is likely to hamper the regional market.
Healthcare Consulting Services Market Key Players
The renowned players of the global healthcare consulting services market are Accenture Consulting (US), The Boston Consulting Group (US), McKinsey and Company (US), PWC (UK), Cognizant (US), KPMG (Switzerland), Cognizant (US), Deloitte Touche Tohmatsu Limited (US), Ernst and Young (UK), and Bain and Company (US).
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