Healthcare Consulting Services Market Size, Share & Trends Analysis Report By Services (Strategic Management Consulting), By End-use (Hospitals), By Region- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

The global healthcare consulting services market size was exhibited at USD 13.8 billion in 2022 and is projected to hit around USD 30.63 billion by 2032, growing at a CAGR of 8.30% during the forecast period 2023 to 2032.

Key Pointers:

• The strategic management consulting segment dominated the market and accounted for the largest revenue share of 49.0% in 2022.
• The information technology segment is expected to attain the fastest CAGR of 10.4% across the forecast period.
• In 2022, pharmaceutical companies held the largest market share of 27.9%. Based on end-use
• The hospital segment is expected to expand at a rate of 8.9% CAGR across the forecast. 
• In terms of region, North America held the largest market share of 47.7% in 2022.
• Asia Pacific is expected to grow at the fastest rate of 10.4% across the forecast period.

The high adoption of digitalization in healthcare firms, the increased demand for improving the efficiency of these firms, and, the growing demand for a structured organization are some of the key factors contributing to the demand for consulting services in healthcare firms. During the COVID-19 pandemic, healthcare organizations such as healthcare payers, providers, pharma & biotech companies, medical device companies, and government organizations adopted advanced technologies, and software to improve their overall functioning. For instance, during the pandemic, Microsoft consulting services helped in the secure and efficient distribution of the COVID-19 vaccine through its software, Vaccination Registration and Administration Solution (VRAS).

The increasing budget cuts, the desire to enhance operational efficiency, changing healthcare policies and regulations, and growing demand to implement new technologies such as big data analytics, cloud deployment, and IoT among healthcare institutions such as life sciences companies and government bodies are some of the key factors driving the healthcare consulting services market.

Healthcare consulting services firms assist healthcare organizations in increasing their efficiency and profits; they also assist in providing structural recommendations for the firm. These advantages associated with healthcare consulting are expected to improve demand for these services across the forecast period. Over the years, there has been uncertainty over healthcare reform, growth in employer self-insurance, a rise in patient pay responsibility, and a growing demand for understanding healthcare coverage. These issues are likely to improve the demand for healthcare consulting services for managing payers' needs.

Pharmaceutical companies are heavily investing in the research and development of new drugs. As a result, the number of new drugs in the pipeline has increased in recent years. According to the Pharma R&D annual review, as of 2022, over 20,109 drugs were in the pipeline. These drugs are expected to be launched in the coming years. Due to the uncertainties created by the COVID-19 pandemic, pharmaceutical companies are expected to collaborate with strategic consultants to develop their launch strategy. This is expected to support market growth in the post-pandemic period.

Healthcare consulting services Market Segmentation

Healthcare consulting services Market Key Players And Regions