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HCIT Consulting Services Market

HCIT Consulting Services Market

HCIT Consulting Services Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

130

Base Year:

2021

Date

Feb - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1338

Segments Covered
  • By Type of Service Digital Health Consulting, IT Consulting, Operations Consulting, Strategy Consulting, Financial Consulting, HR & Talent Consulting
  • By End-User Government Bodies, Healthcare Providers, Health Insurance Payers, Pharmaceutical & Biotechnology Companies, Medical Device Companies
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 23.21 Billion
Revenue 2028Revenue 2028: USD 42.10 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 11.1%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
HCIT Consulting Services Market Share

Market Synopsis:

Global HCIT Consulting Services market is valued at USD 23.21 Billion in 2021 and is projected to attain a value of USD 42.10 Billion by 2028 at a CAGR of 11.1% during the forecast period, 2022–2028. Growing digitization in healthcare, increased acceptance of big data analytics, IoT, and cloud deployment, favourable changes in the HCIT environment, government support for HCIT solutions, and the requirement for data security are the primary drivers driving the growth of HCIT Consulting Services market. Concerns about data protection and the hidden costs of consulting services, on the other hand, are projected to stifle industry expansion in the future years.

The pandemic has had a significant impact on independent consulting, resulting in decreased business, lower revenue, and project delays. However, pharmaceuticals and healthcare were among the three main industries (along with chemicals and agriculture) that were least affected by the pandemic. Healthcare providers, payers, pharma & biotech businesses, medical device companies, and government agencies have all adopted innovative technologies, solutions, and services to tackle the outbreak, going beyond traditional routes to improve workflows. As a result, businesses would hire healthcare consultants to help them optimize their budgets, build better value propositions, and assess their financing sources.

HCIT Consulting Services Market Size, 2021 To 2028 (USD Billion)

Increasing Consolidation in the Healthcare Industry

The number of merger and acquisition transactions in the healthcare industry has been steadily increasing over the last several years. Synchronizing the digital and IT infrastructure of several businesses during merger activities is a difficult issue. IT departments are responsible for data migration and synchronization, as well as the continuing management of electronic medical records. Furthermore, old and incompatible systems must be re-modified across the expanding company, which is a costly and time-consuming operation. There are also issues in intra-enterprise communication and data exchange, as well as the increased need for access to patient data at any time and from any location.

Increasing Number of Hidden Costs of Consulting Services

Most healthcare consultants specialize in a particular area of expertise (operations, strategy, finance, etc.) or a particular industry. When a significant change is required to achieve company goals or solve complicated business problems, companies seek the help of consultants. These abilities may not be available within the company, or full-time staff may not be able to facilitate the change or solution. As a result, consulting firms lease their skills to a client for a certain length of time with specific outcomes and goals in order to assist the organisation in moving forward. Cost reductions and the business value that can be achieved from consulting are frequently harmed by poor planning and financial allocation for consulting services.

Market Segmentation:

The HCIT Consulting Services market is segmented by Consulting Type (HCIT Change Management, Healthcare Business Process Management, HCIT Integration and Migration, Healthcare/Medical System Security Set-Up and Risk Assessment. Healthcare Enterprise Reporting and Data Analytics, Other Types), by End-User (Hospitals and Ambulatory Care Centers, Diagnostic and Imaging Centers, Public and Private Payers, Other End-users). Based on Region, the Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Below tree is interactive. You can click the nodes to get more information.

North America to Continue Dominating the HCIT Consulting Services Market

In terms of revenue, North America had the highest share of the market in 2021. Asia Pacific, on the other hand, is predicted to grow at the fastest rate during the forecast period. The availability of government funding for the development of state-wide and national healthcare information exchange, the increased preference for HCIT solutions, the increased number of favorable initiatives by regional governments during the COVID-19 pandemic, the presence of large hospitals that demand integrated healthcare networks, the presence of major players offering healthcare consulting services, and the high adoption rate of these services by healthcare organizations during the COVID-19 pandemic are some of the factors escalating market growth.

Key Players:

Some of the key players in this market are Accenture (Ireland), Cognizant (US), Deloitte (UK), McKinsey & Company (US), PwC (UK), EY (UK), Huron Consulting Group Inc. (US), KPMG (Netherlands), Boston Consulting Group (US), Bain & Company, Inc. (US), and IQVIA (US) are some of the major players in this market.

The HCIT Consulting Services market is segmented as follows:

Parameter Details
Segments Covered
  • Type of Service (Digital Health Consulting, IT Consulting, Operations Consulting, Strategy Consulting, Financial Consulting, HR & Talent Consulting)
  • End-User (Government Bodies, Healthcare Providers, Health Insurance Payers, Pharmaceutical & Biotechnology Companies, Medical Device Companies)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Accenture (Ireland)
  • Cognizant (US)
  • Deloitte (UK)
  • McKinsey & Company (US)
  • PwC (UK)
  • EY (UK)
  • Huron Consulting Group Inc. (US)
  • KPMG (Netherlands)
  • Boston Consulting Group (US)
  • Bain & Company Inc. (US)
  • and IQVIA (US) are some of the major players in this market.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

HCIT Consulting Services Market is tabulated as follows:

HCIT Consulting Services Market to Reach Valuation of USD 42.10 Billion by 2028 - Growing Digitization in Healthcare to Bloom Market
In terms of revenue, the Global HCIT Consulting Services Market is expected to reach USD 42.10 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 11.1% from 2022 to 2028. The Global HCIT Consulting Services Market growth is attributed to the factors such as, growing digitization in ...
FAQ
Frequently Asked Question
  • The global HCIT Consulting Services valued at USD 23.21 Billion in 2020 and is expected to reach USD 42.10 Billion in 2028 growing at a CAGR of 11.1%.

  • The prominent players in the market are Accenture (Ireland), Cognizant (US), Deloitte (UK), McKinsey & Company (US), PwC (UK), EY (UK), Huron Consulting Group Inc. (US), KPMG (Netherlands), Boston Consulting Group (US), Bain & Company, Inc. (US), and IQVIA (US) are some of the major players in this market..

  • The market is project to grow at a CAGR of 11.1% between 2021 and 2028.

  • The driving factors of the HCIT Consulting Services include

  • North America was the leading regional segment of the HCIT Consulting Services in 2020.