Healthcare Consulting Services Market Due For Exponential Growth

In a recent report published by Acumen Research and Consulting entitled “Healthcare Consulting Service Market By Type of Service (IT Consulting, Digital consulting, Financial Consulting, Operation Consulting, Strategy Consulting, HR & Talent Consulting), By End User (Life Science Companies, Hospitals, Others) – Global Industry Analysis, Market Size, Opportunities And Forecast, 2019 – 2026,” the company outlines its projections for healthcare consulting services growth over the next 5 years.

According to Acumen, market size for this industry is expected to reach $22.8 billion by 2026, with a CAGR growth of 9.8% from 2019 to 2026.

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This prediction comes as a result of the growing competition across the medical and healthcare industries in the era of COVID-19. As more and more companies continue to pop up, the uncertainty of a post-COVID-19 medical climate will drive many of these companies to seek out additional consultation needed to push them in lucrative directions.

As another result of COVID-19, the digitalization of healthcare services is likely to be a future propagator of consultancy service requirements. Many medical agencies are being encouraged to include at least some semblance of expanded accessibility and mobility resulting from digitization. Because of the complexity of IT and AI service requirements, many healthcare companies will see an increase in advisory services.

The projected increase in revenue is also said to be the result of ever-fluctuating price gauges in the U.S. as a result of changes to the Affordable Care Act, as well as inflated prescription costs. Offsetting these spikes is likely to lead to increased use of consultation services.

The rise of telemedicine in rural areas, incorporation of government agencies, and increase in pharmaceutical development are also said to play crucial roles in which consultancies are likely to be on the rise in coming years.

Acumen’s healthcare consulting services market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The companies profiled in the report include Accenture, Alvarez and Marsal, Cognizant, Deloitte Consulting, Ernst & Young, FTI Consulting, KPMG, McKinsey & Company, and PwC.