Research from Market Research Future indicates that the healthcare consulting services market is positioned to flourish in the near future, and could reach $25 billion by 2027 with a compound annual growth rate of 11.2 percent The consulting divisions of healthcare organizations and specialized consulting companies are experiencing high demand for cybersecurity solutions and assistance with IoT device integration. The growing emphasis on value-based care has also helped sustain consulting services as a major money-maker in the healthcare sector. The continuance and further development of these trends will guarantee a bright financial future for the business of healthcare consultation.
Providers, payers, and public health organizations alike have come to rely on consulting services for a variety of needs, including integration for payer-provider risk sharing, public-private coalitions, and all manner of general clinic integration agreements. Along with guiding clients to keep apprised of the rapidly-moving healthcare technology life cycle, consultancies are easing the transition into cost-effective AI-driven solutions. Many are using their profits to broaden their scope of outreach, hoping to compete in a highly competitive international market.
According to MRF, the market leaders in the U.S. are Accenture, McKinsey and Company, Cognizant, Deloitte, and Bain & Company. Most of the nation’s consulting service game has been cornered by these large organizations, which have hedged bets on the impending industry boom. Global service ambitions, along with clients’ constant desire for advanced digitization solutions, will embolden U.S. companies to foster a healthy healthcare consulting portfolio for the foreseeable future.
Government support has played a huge role in the APAC market’s success with healthcare consulting. The administrations of China and India are actively promoting these services and supporting related technological innovations in a bid to upgrade their countries’ respective healthcare infrastructure. Rural areas in these countries are in dire need of the telemedicine and remote care solutions that consulting organizations excel in implementing.
Although this is presumably a cutthroat market, partnerships between competitors or adjacent interests have emerged as fruitful pursuits. Cloud service provider Tencent Cloud recently struck up a deal with Boston Consulting Group to join together their digital transformation resources into a progressive platform. This alliance’s services will soon fan out to regions like APAC to deliver made-to-order, localized solutions.