PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1458420
PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1458420
Healthcare Consulting Services Market Assessment, By Type of Service, By End-user, By Region, Opportunities and Forecast, 2017-2031F
The global healthcare consulting services market is projected to witness a CAGR of 10.36% during the forecast period 2024-2031, growing from USD 29.03 billion in 2023 to USD 63.86 billion in 2031. Various factors shape the global healthcare consulting services market. These include consulting companies opting for expansion, harnessing the power of artificial intelligence (AI), growing demand for digital health consulting, increased adoption by biotechnology companies, and growing use of the Internet of Things (IoT) technology.
The rising demand for healthcare consulting services has led to the expansion of consulting businesses globally. The expansion of the global healthcare consulting services market is fueled by this expansion strategy, which enables businesses to enter new markets and cater to a wider clientele. Healthcare consulting services are being used by biotechnology companies more and more for strategic direction. The global healthcare consulting services market is expanding because of the crucial role consulting firms play in providing biotech companies with market insights, regulatory compliance, and operational efficiency.
The need for consulting services in this industry is being driven by the growing trend towards digital health solutions. The global healthcare consulting services market is growing as a result of consulting firms' assistance to healthcare organizations in implementing digital technology, streamlining operations, and improving patient care. AI is transforming the healthcare consulting services sector through its integration. AI technologies have the potential to improve decision-making processes, increase efficiency, and offer consulting businesses new insights. As a result, the demand for healthcare consulting services is expected to grow globally. One of the main factors influencing the consulting services market is the use of IoT technology in the healthcare industry. The global healthcare consulting services market is growing as a result of consulting companies' assistance in helping healthcare organizations use IoT solutions for better patient care, operational efficiency, and data security.
For example, in May 2023, two of the world's largest technology companies, Cisco and NTT Ltd., announced a collaboration to develop and implement joint IoT as-a-service solutions that enable businesses to increase operational efficiencies and achieve sustainability objectives.
Consulting Companies Opting for Expansion
A growing number of consulting businesses are extending their reach to support a wider range of clients with their healthcare needs. The global healthcare consulting services market will benefit greatly from this expansion plan, as it will enable a greater number of individuals to access the help, they require for managing their health. Furthermore, this industry is being significantly impacted by the incorporation of AI. Consulting firms are using AI to help them make better decisions, work more efficiently, and provide their clients with useful information. Since more and more people are turning to consulting companies for assistance with their healthcare issues, the market is growing because of the increased demand for these services.
J. J. Keller & Associates, a reputable supplier of safety and compliance solutions, introduced four on-site medical consulting services on February 13, 2024. The purpose of healthcare consulting services is to maintain facilities compliant with intricate accreditation and regulatory standards to provide services to clinics, hospitals, and related medical centers.
Harnessing the Power of Artificial Intelligence
Another global healthcare consulting services market trend includes the utilization of AI. AI is being used by major players in the healthcare consulting services industry to improve client services and growth. These businesses enhance client insights, operational effectiveness, and decision-making through AI integration. Thanks to this development, consulting firms can now offer creative solutions that adapt to the changing needs of their clients. The adoption of AI also encourages moral and effective behavior, which drives the growth of the global healthcare consulting services market. The industry gains from this technological integration because it makes it possible for consulting companies to develop and improve client service delivery while adapting to changing needs and upholding high ethical standards.
To enable their clients to fully use OpenAI technology and ethically apply generative AI to tackle the most difficult problems, Boston Consulting Group, for example, partnered with OpenAI in July 2023 to launch the Centre for Responsible Generative AI under BCG X.
Growing Demand for Digital Health Consulting
The growing need for digital health support is fueling the global healthcare consulting services market growth. To better manage changing rules, increase operational effectiveness, and provide better patient care, healthcare providers look for assistance. The process of incorporating digital technologies into every facet of healthcare operations is known as digital transformation. By improving efficiency, accessibility, and overall quality, digital transformation aims to elevate the bar for healthcare services in general, from patient care to administrative procedures. The delivery of healthcare is being revolutionized by technologies such as telemedicine platforms, data analytics, and electronic health records (EHRs).
For example, in April 2023, the worldwide leader in digital transformation, Sia Partners, which includes Latham BioPharm Group (LBG), announced the creation of a new capability focused on Digital Health Consulting.
Increased Adoption by Biotechnology Companies
Healthcare consulting services are becoming more and more popular as a source of help for biotechnology enterprises. They look for assistance in cost management for things like formulating and process development. These biotech companies hope to improve their organizational structure and efficiency by forming partnerships with consulting firms. This partnership demonstrates a calculated move on the part of industry participants to improve operations, address regulatory obstacles, and expand in the global healthcare consulting services market. To ensure success for biotech enterprises, consulting organizations are essential in helping them navigate complex laws and successfully launch their goods into the market. This, in turn, is expanding the global healthcare consulting services market share.
As an example, in August 2023, SSI Strategy, a preeminent life sciences consulting firm, declared that it had finalized an acquisition deal to purchase NDA Group AB, a preeminent regulatory affairs and drug development consulting firm. By combining these two important areas of expertise, a world-class consultancy will be established that will advise drug development businesses from concept to commercialization, assisting in the optimization of the development process and maximizing the therapeutic potential of innovative and complicated medicines.
North America Dominating the Market
Leading the way in the spectacular growth of the global healthcare consulting services market are the United States and Canada. The United States, along with other countries in North America, is home to some of the world's leading health-tech companies. This is a result of the use of digital solutions by many healthcare organizations in these nations, including hospitals, government agencies, and pharmaceutical firms. In addition, healthcare organizations are seeking more regulatory consulting services to comply with the stringent laws and regulations in North America. The market is expanding because of the growing need for regulatory assistance, underscoring the significance of businesses being able to successfully negotiate the complicated regulatory environment.
For example, in October 2023, Mazars USA LLP, the 31st largest accounting and consulting firm in the US, and Forvis LLP, the eighth-largest accounting and consulting firm, signed an acquisition agreement. The acquisition would take effect on June 1, 2024. Apart from the US combination, the Mazars Group, with its headquarters in Paris, and Forvis have inked a deal to collaborate in a global alliance under the Forvis Mazars name.
Future Market Scenario (2024 - 2031F)
Many companies in the global healthcare consulting services market are making investments to build strong capabilities by recruiting in-house experts.
To jointly produce efficient and secure solutions, businesses in the global healthcare consulting services market are integrating with the larger ecosystem of close interaction with regulatory bodies.
To take advantage of big and diverse data sets, the global healthcare consulting services market is seeing a trend of investments in data management and analysis tools.
In the global healthcare consulting services market, IT companies and consulting firms are collaborating to bring in timely and best-in-class external assets and expertise.
Key Players Landscape and Outlook
To capitalize on one another's advantages and increase their share in the global healthcare consulting services market, several significant players in the industry are forming alliances. The goal of these collaborations is to leverage technology to increase healthcare impact and accessibility for all parties. These collaborations demonstrate how business leaders are pooling their resources and skills to enhance operations, address regulatory issues, and expand the market. To customize strategies and implementation projects that fit the needs of healthcare organizations, as well as those of other industries like manufacturing, retail, and financial services, the companies collaborate to gain access to best-in-class software and solution suppliers.
For example, in August 2023, Workday, a pioneer in enterprise cloud technologies for finance and human resources, and Nordic Consulting, a worldwide health and technology consulting firm, announced a collaboration deal. Through this partnership, Nordic's ERP Services portfolio will expand to include Workday's solutions, which address various facets of financial management and human capital management (HCM) during the whole implementation and maintenance process.
Table of Contents
1.Research Methodology
2.Project Scope & Definitions
3.Executive Summary
4.Global Healthcare Consulting Services Market Outlook, 2017-2031F
- 4.1.Market Size & Forecast
- 4.1.1.By Value
- 4.1.2.By Volume
- 4.2.By Type of Service
- 4.2.1.IT Consulting
- 4.2.2.Digital Health Consulting
- 4.2.3.Strategy Consulting
- 4.2.4.Operations Consulting
- 4.2.5.Financial Consulting
- 4.2.6.HR & Talent Consulting
- 4.3.By End-user
- 4.3.1.Biotechnology Companies
- 4.3.2.Healthtech Companies
- 4.3.3.Pharmaceutical Companies
- 4.3.4.MedTech Companies
- 4.3.5.Government Bodies
- 4.3.6.Health Insurance Companies
- 4.3.7.Others
- 4.4.By Region
- 4.4.1.North America
- 4.4.2.Europe
- 4.4.3.Asia-Pacific
- 4.4.4.South America
- 4.4.5.Middle East and Africa
- 4.5.By Company Market Share (%), 2023
5.Global Healthcare Consulting Services Market Outlook, By Region, 2017-2031F
- 5.1.North America*
- 5.1.1.Market Size & Forecast
- 5.1.1.1.By Value
- 5.1.1.2.By Volume
- 5.1.2.By Type of Service
- 5.1.2.1.IT Consulting
- 5.1.2.2.Digital Health Consulting
- 5.1.2.3.Strategy Consulting
- 5.1.2.4.Operations Consulting
- 5.1.2.5.Financial Consulting
- 5.1.2.6.HR & Talent Consulting
- 5.1.3.By End-user
- 5.1.3.1.Biotechnology Companies
- 5.1.3.2.Healthtech Companies
- 5.1.3.3.Pharmaceutical Companies
- 5.1.3.4.MedTech Companies
- 5.1.3.5.Government Bodies
- 5.1.3.6.Health Insurance Companies
- 5.1.3.7.Others
- 5.1.4.United States*
- 5.1.4.1.Market Size & Forecast
- 5.1.4.1.1.By Value
- 5.1.4.1.2.By Volume
- 5.1.4.2.By Type of Service
- 5.1.4.2.1.IT Consulting
- 5.1.4.2.2.Digital Health Consulting
- 5.1.4.2.3.Strategy Consulting
- 5.1.4.2.4.Operations Consulting
- 5.1.4.2.5.Financial Consulting
- 5.1.4.2.6.HR & Talent Consulting
- 5.1.4.3.By End-user
- 5.1.4.3.1.Biotechnology Companies
- 5.1.4.3.2.Healthtech Companies
- 5.1.4.3.3.Pharmaceutical Companies
- 5.1.4.3.4.MedTech Companies
- 5.1.4.3.5.Government Bodies
- 5.1.4.3.6.Health Insurance Companies
- 5.1.4.3.7.Others
- 5.1.5.Canada
- 5.1.6.Mexico
- 5.1.1.Market Size & Forecast
All segments will be provided for all regions and countries covered
- 5.2.Europe
- 5.2.1.Germany
- 5.2.2.France
- 5.2.3.Italy
- 5.2.4.United Kingdom
- 5.2.5.Russia
- 5.2.6.Netherlands
- 5.2.7.Spain
- 5.2.8.Turkey
- 5.2.9.Poland
- 5.3.Asia-Pacific
- 5.3.1.India
- 5.3.2.China
- 5.3.3.Japan
- 5.3.4.Australia
- 5.3.5.Vietnam
- 5.3.6.South Korea
- 5.3.7.Indonesia
- 5.3.8.Philippines
- 5.4.South America
- 5.4.1.Brazil
- 5.4.2.Argentina
- 5.5.Middle East & Africa
- 5.5.1.Saudi Arabia
- 5.5.2.UAE
- 5.5.3.South Africa
6.Market Mapping, 2023
- 6.1.By Type of Service
- 6.2.By End-user
- 6.3.By Region
7.Macro Environment and Industry Structure
- 7.1.Demand Supply Analysis
- 7.2.Import Export Analysis
- 7.3.Value Chain Analysis
- 7.4.PESTEL Analysis
- 7.4.1.Political Factors
- 7.4.2.Economic System
- 7.4.3.Social Implications
- 7.4.4.Technological Advancements
- 7.4.5.Environmental Impacts
- 7.4.6.Legal Compliances and Regulatory Policies (Statutory Bodies Included)
- 7.5.Porter's Five Forces Analysis
- 7.5.1.Supplier Power
- 7.5.2.Buyer Power
- 7.5.3.Substitution Threat
- 7.5.4.Threat from New Entrant
- 7.5.5.Competitive Rivalry
8.Market Dynamics
- 8.1.Growth Drivers
- 8.2.Growth Inhibitors (Challenges and Restraints)
9.Key Players Landscape
- 9.1.Competition Matrix of Top Five Market Leaders
- 9.2.Market Revenue Analysis of Top Five Market Leaders (in %, 2023)
- 9.3.Mergers and Acquisitions/Joint Ventures (If Applicable)
- 9.4.SWOT Analysis (For Five Market Players)
- 9.5.Patent Analysis (If Applicable)
10.Pricing Analysis
11.Case Studies
12.Key Players Outlook
- 12.1.McKinsey & Company Inc.
- 12.1.1.Company Details
- 12.1.2.Key Management Personnel
- 12.1.3.Products & Services
- 12.1.4.Financials (As reported)
- 12.1.5.Key Market Focus & Geographical Presence
- 12.1.6.Recent Developments
- 12.2.Boston Consulting Group, Inc.
- 12.3.Deloitte Touche Tohmatsu Limited
- 12.4.Bain & Company Inc.
- 12.5.PricewaterhouseCoopers International Limited
- 12.6.Ernst & Young Global Limited
- 12.7.KPMG International Limited
- 12.8.Accenture plc
- 12.9.Oliver Wyman, LLC
- 12.10.Huron Consulting Group Inc.
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.
13.Strategic Recommendations
14.About Us & Disclaimer
List of Tables
- Table 1. Pricing Analysis of Products from Key Players
- Table 2. Competition Matrix of Top 5 Market Leaders
- Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)
- Table 4. About Us - Regions and Countries Where We Have Executed Client Projects
List of Figures
- Figure 1.Global Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 2.Global Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 3.Global Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 4.Global Healthcare Consulting Services Market Share (%), By Region, 2017-2031F
- Figure 5.North America Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 6.North America Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 7.North America Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 8.North America Healthcare Consulting Services Market Share (%), By Country, 2017-2031F
- Figure 9.United States Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 10.United States Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 11.United States Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 12.Canada Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 13.Canada Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 14.Canada Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 15.Mexico Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 16.Mexico Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 17.Mexico Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 18.Europe Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 19.Europe Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 20.Europe Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 21.Europe Healthcare Consulting Services Market Share (%), By Country, 2017-2031F
- Figure 22.Germany Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 23.Germany Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 24.Germany Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 25.France Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 26.France Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 27.France Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 28.Italy Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 29.Italy Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 30.Italy Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 31.United Kingdom Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 32.United Kingdom Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 33.United Kingdom Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 34.Russia Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 35.Russia Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 36.Russia Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 37.Netherlands Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 38.Netherlands Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 39.Netherlands Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 40.Spain Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 41.Spain Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 42.Spain Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 43.Turkey Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 44.Turkey Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 45.Turkey Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 46.Poland Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 47.Poland Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 48.Poland Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 49.South America Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 50.South America Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 51.South America Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 52.South America Healthcare Consulting Services Market Share (%), By Country, 2017-2031F
- Figure 53.Brazil Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 54.Brazil Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 55.Brazil Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 56.Argentina Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 57.Argentina Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 58.Argentina Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 59.Asia-Pacific Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 60.Asia-Pacific Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 61.Asia-Pacific Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 62.Asia-Pacific Healthcare Consulting Services Market Share (%), By Country, 2017-2031F
- Figure 63.India Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 64.India Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 65.India Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 66.China Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 67.China Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 68.China Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 69.Japan Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 70.Japan Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 71.Japan Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 72.Australia Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 73.Australia Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 74.Australia Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 75.Vietnam Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 76.Vietnam Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 77.Vietnam Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 78.South Korea Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 79.South Korea Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 80.South Korea Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 81.Indonesia Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 82.Indonesia Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 83.Indonesia Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 84.Philippines Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 85.Philippines Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 86.Philippines Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 87.Middle East & Africa Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 88.Middle East & Africa Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 89.Middle East & Africa Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 90.Middle East & Africa Healthcare Consulting Services Market Share (%), By Country, 2017-2031F
- Figure 91.Saudi Arabia Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 92.Saudi Arabia Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 93.Saudi Arabia Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 94.UAE Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 95.UAE Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 96.UAE Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 97.South Africa Healthcare Consulting Services Market, By Value, In USD Billion, 2017-2031F
- Figure 98.South Africa Healthcare Consulting Services Market Share (%), By Type of Service, 2017-2031F
- Figure 99.South Africa Healthcare Consulting Services Market Share (%), By End-user, 2017-2031F
- Figure 100.By Type of Service Map-Market Size (USD Billion) & Growth Rate (%), 2023
- Figure 101.By End-user Map-Market Size (USD Billion) & Growth Rate (%), 2023
- Figure 102.By Region Map-Market Size (USD Billion) & Growth Rate (%), 2023
