PUBLISHER: The Business Research Company | PRODUCT CODE: 1650325
PUBLISHER: The Business Research Company | PRODUCT CODE: 1650325
Healthcare IT consulting involves contracting with consulting firms that serve as third-party advisors for entities in the healthcare sector. These consultants play a crucial role in helping organizations make informed decisions and enhance their profit potential. The focus of healthcare IT consulting is on optimizing efficiency, revenue generation, and making structural improvements. Specializations within the healthcare consulting sector have evolved to include strategic consulting, technology implementation, HR and people management, improvements in patient care, enhanced staff communication and workflow, and the implementation of competitive practices.
Key types of healthcare IT consulting include HCIT change management, healthcare business process management, HCIT integration and migration, establishment of healthcare or medical system security, and risk assessment, as well as healthcare enterprise reporting and data analytics, among others. HCIT change management involves an organized and structured approach, employing methods that enable healthcare organizations to seamlessly transform workflows. The various components involved in healthcare IT consulting encompass services, software, and hardware. End-users of these consulting services include hospitals and ambulatory care centers, diagnostic and imaging centers, public and private payers, and other entities within the healthcare landscape.
The healthcare IT consulting market research report is one of a series of new reports from The Business Research Company that provides healthcare IT consulting market statistics, including healthcare IT consulting industry global market size, regional shares, competitors with a healthcare IT consulting market share, detailed healthcare IT consulting market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare IT consulting industry. This healthcare IT consulting market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The healthcare IT consulting market size has grown rapidly in recent years. It will grow from $64.97 billion in 2024 to $76.68 billion in 2025 at a compound annual growth rate (CAGR) of 18.0%. The growth in the historic period can be attributed to regulatory compliance, ehr implementation, interoperability, security and privacy, population health management.
The healthcare IT consulting market size is expected to see rapid growth in the next few years. It will grow to $156.78 billion in 2029 at a compound annual growth rate (CAGR) of 19.6%. The growth in the forecast period can be attributed to telemedicine growth, genomics and precision medicine, cybersecurity and data protection, pandemic preparedness, healthcare equity. Major trends in the forecast period include digital transformation strategies, interoperability solutions, data analytics and AI integration, cloud adoption and hosting, and health information exchange (hie).
The anticipated surge in healthcare IT consulting market growth is attributed to the increasing digitization in the healthcare sector. Digitization involves converting information into a digital format. As healthcare adopts digitalization, including analytics and cloud services, professionals in the field require healthcare IT consulting services to comprehend and access digital solutions. A report by StockApps.com reveals that the global digital health sector is projected to generate $149.9 billion in 2022, indicating a 16.3% growth compared to the $128.80 billion in 2021. This underscores the significant impact of growing digitization on the healthcare IT consulting market.
The increasing adoption of telemedicine services is anticipated to drive the growth of the healthcare IT consulting market in the future. Telemedicine services involve the remote delivery of healthcare, medical consultations, and clinical services through telecommunications technology, primarily utilizing the Internet and video conferencing tools. These services necessitate the integration of various technologies, including video conferencing, EHR systems, and remote monitoring tools. Healthcare IT consultants are essential for planning, implementing, and optimizing these integrated solutions. For example, in April 2023, FAIR Health Inc., a US-based non-profit organization, reported a 7.3% national increase in telehealth usage, with medical claim lines rising from 5.5% in December 2022 to 5.9% in January 2023. As a result, the growth of telemedicine services is propelling the expansion of the healthcare IT consulting market.
A prominent trend gaining traction in the healthcare IT consulting market is technological advancement. Key market players are dedicated to developing innovative technological solutions to fortify their positions. In March 2022, Snowflake, a US-based cloud computing data cloud company, launched healthcare SaaS, a cloud-based platform offering data-sharing and consulting services. This platform integrates the company's analytics, core data warehousing, and business intelligence offerings with on-demand consulting services. Notably, the incorporation of machine learning and other applications aims to assist healthcare companies in expediting the implementation of applications, reflecting the influence of technological advancement on the healthcare IT consulting market.
Leading companies in the healthcare IT consulting market are innovating by introducing new products like Software as a Service (SaaS) platforms to expand their customer base, boost sales, and enhance revenue. SaaS, a cloud-based software delivery model, allows providers to host and offer software applications to customers via the Internet. An example is Epic Systems Corporation, a US-based healthcare software company, which unveiled Garden Plot in March 2022. This SaaS platform caters specifically to independent medical groups, aiming to simplify access to Epic tools for providers navigating complex system transitions. Garden Plot provides small, independent groups with Epic access, including necessary software and third-party components, along with the benefits of Epic's interoperability network, all while minimizing operational overhead. Epic positions Garden Plot as an alternative for groups seeking collaboration when the Community Connect program is not viable. Epic emphasizes that this model can enhance interoperability by facilitating patient record sharing with nearby hospitals. Garden Plot includes integrated products from vendors such as Availity, Biscom, Change Healthcare, Healthwise, Intelligent Medical Objects, Iron Bridge, Lyniate, OSG Billing Services, Solarity, Sphere, Surescripts, and Wolters Kluwer.
In July 2022, Healthcare Performance Group Inc., a US-based company specializing in EHR technology consulting, acquired Health Data Specialists LLC for an undisclosed sum. This strategic move allows HPG to optimize EHR platform capabilities, enhance overall enterprise performance, and support various client initiatives, including project management, optimization, legacy system support, managed services, and more. Health Data Specialists, a US-based company in healthcare IT consulting services, aligns with HPG's goals for advancing technology solutions in the healthcare sector.
Major companies operating in the healthcare IT consulting market include Accenture plc, Allscripts Healthcare Solutions Inc., Cerner Corporation, Cognizant Technology Solutions Corporation, Deloitte Touche Tohmatsu Limited, International Business Machines Corporation, Tata Consultancy Services Limited, General Electric Company, Epic Systems Corporation, Siemens Healthineers AG, McKesson Corporation, Koninklijke Philips N.V., HCL Technologies Limited, Hexaware Technologies Limited, Larsen & Toubro Infotech Limited, Microsoft Corporation, Wipro Limited, Oracle Corporation, Infosys Limited, Bain & Company Inc., The Boston Consulting Group Inc., Ernst & Young Global Limited, Genpact Limited, KPMG International Limited, McKinsey & Company Inc., Nordic Consulting Group A/S, PA Consulting Group Limited, Pivot Point Consulting LLC, PricewaterhouseCoopers International Limited, ScienceSoft USA Corporation, TechAhead Software Pvt. Ltd., Veraqor Inc., ZS Associates India Pvt. Ltd., GeBBS Healthcare Solutions Inc., Optum Inc., Huron Consulting Group Inc., The Chartis Group LLC
North America was the largest region in the healthcare IT consulting market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare IT consulting market share report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the healthcare IT consulting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The healthcare IT consulting market includes revenues earned by entities by providing security and compliance analysis, IT environment optimization guidance, compliance guidance services, strategy consulting, and enterprise IT tech consulting. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Healthcare IT Consulting Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on healthcare it consulting market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for healthcare it consulting ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The healthcare it consulting market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.