In 2023, the worldwide healthcare consulting services market recorded a revenue of USD 31.7 billion. Forecasts predict a robust CAGR of 11.4% from 2024 to 2030, ultimately reaching a projected value of USD 66.6 billion by 2030.
This can be credited to the growing rate of healthcare digitalization, brand positioning, aggressive marketing, and acceptance of new techs in medical sciences. Furthermore, the positive changes in the healthcare IT landscape because of the robust backing by the government in emerging nations boost the industry.
The industry for consulting facilities is growing mainly because of the fast acceptance of digitalization. Furthermore, key companies offering healthcare services are focusing on bringing technical improvements for offering precise and competitive data to healthcare providers.
A very important component of consulting is saving money, and by utilizing these services, companies can cut expenses across a range of areas, such as human capital, resource management, space, and operation.
In 2023, the operations consulting category, based on type, generated the largest revenue share of more than 60%. This is mainly because of the challenges in operation, development in the need for medications, growth in the occurrence of all kinds of illnesses, advancements in the healthcare infrastructure, and helpful government guidelines. Thus, a better dependence on operational consultants as a result of the medical sector’s shift from a fee-for-service to a coordinated care model will boost the industry.
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In addition, strategic consulting is expected to grow rapidly over this decade. This will be due to the rising market competition with companies’ launch of newer and more comprehensive service offerings. The right strategy is the key for healthcare businesses to thrive amidst the rapidly evolving industry and patient’s changing perception of hospital care.
During the projection period, strategic consulting is projected to advance rapidly. This will be because of the growing industry competition with companies introducing newer and more complete service offerings.
The digital health consulting category will advance at the fastest rate during the forecast period. This is mainly because of the acceptance of new techs in the medicinal field, mainly digital solutions over paper-based administrative methods in developed nations.
In 2023, the North American region has experienced the largest share, of approximately 45%, and it is projected to show a strong CAGR during the forecast period. This is mainly because of the ample government funding for the making of nationwide and state-wide healthcare data exchanges, and also the increasing acceptance of healthcare IT solutions.
Moreover, the high acceptance of digital solutions by public healthcare agencies, biotechnology & pharmaceutical businesses, hospitals, and other related establishments makes the region lucrative for healthcare consulting businesses.
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