DUBLIN-(WIRE OF BUSINESS)-Added the report “Global End User Healthcare Consulting Services, By Type of Service, By Regional Outlook, Industry Analysis Report and Forecast, 2021-2027” to ResearchAndMarkets.com’s alay.
The Global Healthcare Consulting Services Market is expected to reach $ 44.9 billion in 2027, up from a market growth of 11.7% CAGR during the forecast period.
Impact Analysis of COVID-19
The population and economy were severely damaged by the COVID-19 pandemic. As a result, healthcare institutions are under intense pressure to develop a well-coordinated environment where all clinical and non-clinical activities are linked internally and the organization works simultaneously. of other health care units. More than 255 million confirmed cases were reported worldwide in November 2021, with more than 5 million deaths according to the WHO.
The pandemic had a major impact on independent consulting, resulting in business decline, revenue decline, and project delays. However, pharmaceuticals and health care are among the three major industries (including chemicals and agriculture) that were less affected by the pandemic. Healthcare providers, payers, pharmaceutical and biotech businesses, medical device companies, and government agencies have all adopted innovative technologies, solutions, and services to address the outbreak, beyond traditional route to improve workflows.
Market Growth Factors
Rising penetration of digital healthcare services
Due to the growing demand for good practical solutions, there has been a huge demand for health care counseling services. Healthcare outsourcing is in high demand worldwide due to its applications in various disciplines within the healthcare industry. Furthermore, as a result of favorable government policies in both developed and emerging countries, the possibilities for healthcare IT consulting are expanding. The ability of health care consultants to strengthen the overall corporate activity of health care organizations is expected to contribute to the growth of the health care consulting market during the forecast period.
Integration in the healthcare industry is becoming more common
The number of merger and acquisition transactions in the healthcare industry has continued to rise over the past few years. Synchronizing the digital and IT infrastructure of several businesses during merger activities is a difficult issue. IT departments are responsible for data transfer and synchronization, as well as ongoing management of electronic medical records. With the rising number of mergers and acquisitions in the healthcare industry, a growing number of customers are likely to seek the help of healthcare consultants to overcome the associated barriers in a seamless and cost-effective manner. .
Marketing Prevention Factors
The number of multi-sourcing approaches is growing
Instead of taking an approach that suits everyone, more and more companies are splitting larger consulting contracts into smaller parts and asking for help from multiple vendors to complete tasks. Because consulting firms are not necessarily competent in every area of training, healthcare organizations are gradually adopting the multi-sourcing model. Health care providers, payers, and government agencies are all pushing for multiple consulting firms to collaborate on projects.
End User Outlook
Based on the end-user, the market of healthcare consulting services is divided into Government Bodies, Healthcare Providers, Health Insurance Payers, Pharmaceutical and Biotechnology Companies and Medical Device Companies. The Pharmaceutical & Biotechnology Companies segment gained a good share of revenue in the healthcare consulting services market in 2020. This is due to the difficulties these companies face in managing IT and operational processes including constantly changing business dynamics of these companies around the world.
Outlook Service Type
On the basis of service type, the market of healthcare consulting services is split into Digital Health Consulting, Financial Consulting, IT Consulting, Strategy Consulting, Operations Consulting, and HR & Talent Consulting. The financial consulting segment earned a good share of revenue in the healthcare consulting services market by 2020. These services include counseling services provided to manage hospital funds and costs. These solutions help businesses prioritize their spending based on the amount of incentives they can offer.
Regional Perspective
Regionally savvy, the healthcare consulting services market has been analyzed across North America, Europe, Asia Pacific and LAMEA. North America has emerged as the leading region in the market of healthcare consulting services with the highest revenue share in 2020. The provision of government funding for the development of statewide and national care information exchange health, the increased preference for HCIT solutions, the increasing number of favorable initiatives by regional governments during the COVID-19 pandemic, the availability of large hospitals requesting integrated networks of health care, the presence of key players offering health care consulting services, and the high level of utilization of these services by health care organizations during the COVID-19 pandemic.
Cardinal Matrix – Market Competition Analysis of Healthcare Consulting Services
The main strategies followed by market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix Accenture PLC and Deloitte Touche Tohmatsu Limited are the leaders in the Healthcare Consulting Services Market. Companies such as Cognizant Technology Solutions Corporation, IQVIA Holdings, Inc., Huron Consulting Group, Inc. are some of the major innovators in the Market.
The market research report covers the analysis of key market stakeholders. The main companies profiled in the report include:
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McKinsey and Company
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Ernst & Young Global Limited
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Bain & Company Inc.
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Huron Consulting Group Inc.
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West Monroe Partners Inc.
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Accenture PLC
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Cognizant Technology Solutions Corporation
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Deloitte Touche Tohmatsu Limited
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IQVIA Holdings Inc.
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Boston Consulting Group
Recent Strategies Applied
Partnerships, Partnerships and Agreements
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Jul-2021: Cognizant partners with Royal Philips, a global leader in healthcare technology. Following the collaboration, the two companies aim to create end-to-end digital health solutions that are expected to enable healthcare organizations and life science companies to improve patient care and accelerate clinical trials.
Product Launches and Product Extensions
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Dec-2021: IQVIA launches new Research Nursing and Phlebotomy services. In addition, these new services give patients involved in clinical trials access to a global network of high-quality and credentialed professionals who offer the compassionate care required by the internal protocol. of their own homes.
Acquisitions and Mergers
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Jan-2022: Hiren takes over Perception Health, the disease prediction company. Following the acquisition, the combined capabilities of the two companies are expected to enhance Huron’s healthcare predictive analytics and data capabilities to help customers unlock insights and identify patterns to improve patient care and make wise decisions.
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Nov-2021: EY acquires Tao Leadership Limited (Tao), a company dedicated to driving rapid organizational change and cultural change in businesses. This acquisition is expected to further boost the growth of EY People Advisory Services by strengthening well-known innovation leadership and technology-enabled cultural change capabilities.
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September-2021: Accenture acquires Gevity, offering professional services to clients seeking sustainable and effective health care, social services, and life science solutions. Through this acquisition, the company aims to expand its capabilities to offer health transformation services in Canada and around the world.
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Jul-2021: Deloitte acquires Paxton Partners, a healthcare consulting firm. Following the acquisition, Deloitte is expected to acquire the specialist skills of the Paxton Partners team that are expected to improve the capacity available to state and federal health departments, other funders, insurers, public health services, operators of the sector, not for health income. vendors, private hospital groups, and investors.
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May-2021: Deloitte acquires Iperion Life Sciences Consultancy, a globally-operating firm working to support life science companies and regulatory bodies in their digital transformation. Following the acquisition, Iperion is expected to become “Iperion – a Deloitte business” and will be part of Deloitte’s Risk Advisory function, which focuses on human safety in medicine, outcomes, and experiences through standardized, regulated drug information. product.
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Feb-2021: Huron acquires Unico Solution, a data management and analytics system provider company. This acquisition aims to enhance Huron’s data management and governance capabilities to help customers better manage their data to optimize their operations and boost cloud adoption.
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Feb-2021: Cognizant acquires Linium, a cloud transformation consultancy group that specializes in the ServiceNow platform and solutions for smart digital enterprise workflows. Following the acquisition, Linium’s ServiceNow special focus was aimed at expanding Cognizant’s enterprise service management capabilities while supporting its own long -standing ServiceNow alliance.
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Jan-2021: Deloitte acquires HashedIn Technologies Private Limited, a leading cloud-native software engineering, and product development firm. Following the acquisition, the two companies are expected to work together to help customers imagine, deliver and operate their futures in cloud technologies. Moreover, the combined capabilities of the two companies are expected to strengthen the capacity to develop software products and smart solutions that drive innovation in the end.
For more information about this report visit https://www.researchandmarkets.com/r/r1la8d