PUBLISHER: The Business Research Company | PRODUCT CODE: 1245011
PUBLISHER: The Business Research Company | PRODUCT CODE: 1245011
“Healthcare IT Consulting Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on healthcare it consulting market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for healthcare it consulting ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The healthcare it consulting market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
* The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
* The impact of higher inflation in many countries and the resulting spike in interest rates.
* The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Major players in the healthcare IT consulting market are: Accenture PLC., Allscripts Healthcare Solutions Inc., Cerner Corporation, Cognizant, Deloitte Touche Tohmatsu Limited, IBM Corporation, Tata Consultancy Services, General Electric Company, Epic Systems Corporation, Siemens Healthineers AG, Mckesson Corporation, Koninklijke Philips N.V, HCL Technologies, Hexaware Technologies, Larsen & Toubro Infotech Limited, Microsoft Corporation, Wipro Limited, Oracle Corporation, and Infosys Limited.
The global healthcare it consulting market grew from $45.17 billion in 2022 to $53.31 billion in 2023 at a compound annual growth rate (CAGR) of 18.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The healthcare it consulting market is expected to grow to $102.46 billion in 2027 at a CAGR of 17.7%.
The healthcare IT consulting market includes revenues earned by entities by providing security and compliance analysis, IT environment optimization guidance, compliance guidance services, strategy consulting, and enterprise IT tech consulting. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Healthcare IT consulting refers to a consulting firm that acts as a contracted third-party advisor for a given player in the healthcare sector. These are helpful to make better decisions and improve the profit potential. The healthcare IT consulting is used to optimize efficiency, revenue generation, and structural improvements with various specializations emerging within the healthcare consulting sector such as strategic consulting, technology implementation, HR and people management, improvements in patient care, better staff communication and workflow, implementing competitive practices.
North America was the largest region in the healthcare IT consulting market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare IT consulting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types in healthcare IT consulting are HCIT change management, healthcare business process management, HCIT integration and migration, healthcare or medical system security set-up and risk assessment, healthcare enterprise reporting and data analytics, other types. HCI change management refers to an organized, structured approach with methods that enable healthcare organizations to transform workflows seamlessly. The different components include services, software, and hardware. The various end-users involved are hospitals and ambulatory care centres, diagnostic and imaging centres, public and private payers, and others.
Growing digitalization in healthcare is expected to propel the growth of the healthcare IT consulting market going forward. Digitization refers to the method of converting information into a digital format. Due to the increase in the adoption of digitalization such as analytics and cloud services in healthcare, healthcare professionals require healthcare IT consulting services to understand and access digital solutions. For instance, according to StockApps.com, a Spain-based financial educational hub, the global digital health sector is expected to earn $149.9 billion in 2022, a 16.3% growth as compared to $128.80 billion in 2021. Therefore, the growing digitization in healthcare is driving the growth of the healthcare IT consulting market.
Technological advancement is a key trend gaining popularity in the healthcare IT consulting market. Major companies operating in the healthcare IT consulting market are focused on developing new technological solutions to strengthen their position. For instance, in March 2022, Snowflake, a US-based cloud computing data cloud company launched healthcare SaaS, a cloud-based, data-sharing and consulting services platform. It integrates the company's analytics, core data warehousing, and business intelligence offerings with on-demand consulting services. The new cloud service also integrates machine learning and other applications to help healthcare companies in reducing the time to implement applications.
In July 2022, Healthcare Performance Group Inc., a US-based company operating in consulting expertise for EHR technology acquired Health Data Specialists LLC for an undisclosed amount. Through this acquisition, HPG will maximize EHR platform capabilities, drive stronger performance across the enterprise, and support clients' initiatives such as project management, optimization, legacy system support, managed services, and more. Health Data Specialists is a US-based company operating in healthcare IT consulting services.
The countries covered in the healthcare IT consulting market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The healthcare IT consulting market research report is one of a series of new reports from The Business Research Company that provides healthcare IT consulting market statistics, including healthcare IT consulting industry global market size, regional shares, competitors with a healthcare IT consulting market share, detailed healthcare IT consulting market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare IT consulting industry. This healthcare IT consulting market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.