Healthcare Consulting Services Market Size, Share, Trends, and Forecast 2032

Healthcare Consulting Services Market Insights

The global healthcare consulting services market size was worth around USD 26.35 billion in 2023 and is predicted to grow to around USD 69.63 billion by 2032 with a compound annual growth rate (CAGR) of roughly 11.4% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD billion). The report covers a forecast and an analysis of the healthcare consulting services market on a global and regional level.

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Healthcare Consulting Services Market: Overview

Healthcare consulting deals with offering specialist advice to healthcare-related businesses, such as pharmaceutical and medical device companies, hospitals, insurance providers, physicians, etc. These consulting services are typically related to human resources, financial management, information technology, and regulatory solutions.

The demand for the internet of things (IoT) devices is increasing in the healthcare sector. Additionally, data sharing is gaining momentum among various companies in the healthcare ecosystem. The demand for healthcare consulting services is driven by the need to effectively integrate IoT in healthcare and ensure cybersecurity. The increasing geriatric population base across the world, on-going technological advancements in the healthcare sector, and growing significance of value-based care are driving the healthcare consulting services. Furthermore, the demand for healthcare consulting services that support integrated payer-provider risk sharing, public-private partnerships, and other clinical integration agreements is increasing at a rapid pace, which is also fuelling this market development. However, data confidentiality concerns and the high price of services may hamper the healthcare consulting services market growth in the future. Alternatively, rapid digitization in the healthcare industry and the consolidation of the U.S. healthcare market are likely to create new growth opportunities in the healthcare consulting services market.

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Healthcare Consulting Services Market: Segmentation

The study provides a decisive view of the healthcare consulting services market by segmenting it based on service, end-user, and region. 

Based on service, the market is categorized into IT and digitalization consulting, strategy consulting, operation consulting, financial consulting, research and development consulting, HR and talent management consulting, marketing and sales, healthcare regulatory solutions, logistics consulting, and others. The financial consulting segment held the largest market share in 2023, whereas the strategy consulting segment is expected to grow rapidly over the forecast time period.

Based on end-user, the market includes hospitals, pharmaceutical and biotech companies, research institutes, healthcare insurance providers, and others. Hospitals held the largest market share in 2023, whereas pharmaceutical and biotech companies will register the highest CAGR in the upcoming years.

Healthcare Consulting Services Market: Report Scope

Healthcare Consulting Services Market: Regional Analysis

The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa with its further classification into major countries including the U.S., Germany, France, UK, Italy, Spain, China, Japan, India, Southeast Asia, Brazil, GCC Countries, and South Africa.

North America dominated the global healthcare consulting services market, with a revenue share of about 45%, in 2023. The increasing need for value-based care, rising geriatric population base, and technological advancements are prominent factors driving the North American healthcare consulting services market growth. North America is projected to hold the leading market position over the forecast time period as well, owing to the growing pricing pressure on pharmaceutical companies and increasing merger and acquisition activities in the region. Asia Pacific will register the highest CAGR over the estimated time period in the global healthcare consulting services market, owing to the increasing need to reduce healthcare costs, rising demand for remote patient monitoring and care, increasing aging population in developing countries like India and China.

Healthcare Consulting Services Market: Competitive Players

Some major players operating in the global healthcare consulting services market include:

• McKinsey & Company
• Accenture
• Cognizant
• Huron Consulting
• Deloitte
• PWC
• The Boston Consulting Group
• Ernst & Young
• KPMG
• Bain & Company

The Global Healthcare Consulting Services Market is segmented as follows:

Global Healthcare Consulting Services Market: By Service

• Strategy Consulting
• IT and Digitalization Consulting
• Financial Consulting
• Operation Consulting
• HR and Talent Management Consulting
• Research and Development Consulting
• Marketing and Sales
• Logistics Consulting
• Healthcare Regulatory Solutions
• Others

Global Healthcare Consulting Services Market: By End-User

• Hospitals
• Pharmaceutical and Biotech Companies
• Research Institutes
• Healthcare Insurance Providers
• Others

Global Healthcare Consulting Services Market: By Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa