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Global Online Healthcare Consulting Market Size, Trends & Analysis - Forecasts to 2026 By Type of Service (Business Model & Marketing Strategy Consulting, Digital Consulting, Financial Planning & Cost Management, Healthcare Operations Consulting, Healthcare IT Consulting, Human Resource Consulting, General Management, Risk Analysis and Management, Procurement Management, Other Services), By End-User (Pharma & Biotech Firms, Healthcare Providers, Healthcare Payers, and Government/ Public Sector), By Region (Europe, North America, MEA, Asia Pacific, CSA); Vendor Landscape, Company Market Share Analysis, End-User Landscape, and Competitor Analysis
Online Healthcare Consulting Market Insights
The online healthcare consulting market will develop at a CAGR of around 10.5% from 2020 to 2026. The significant explanation behind this market to develop is the rising need for remote patient monitoring, growing digitization in healthcare, monetary support by government for IT healthcare infrastructure, increasing preference for teleconsultation or telemedicine amongst major patients, the significant rise inpatient population due to COVID-19 hit, rising need to manage the disease and patient data, and rising preference for value-based or patient-centric treatment.
As this industry is a complex network of many aspects, healthcare providers are ought to have appropriate guidance from a healthcare consultant. Numerous rules and regulations, along with policies, and daily advancement in disease diagnosis and treatment tools, have probed the providers to approach a consultant to streamline the workflow and data generated from their set up. Healthcare consulting in simple definition is a process of offering expert advice, direction, and guidance for various services such as business modelling and re-modeling, digital and financial consulting, healthcare IT consulting, and other services. Digitization and operational efficiency are the prime factors for which the healthcare providers approach a consulting firm.
Online Healthcare Consulting Market: By Type of Service
Based on the types of services offered, the market can be segmented into digital consulting, financial planning & cost management, business model & marketing strategy consulting, healthcare operations consulting, healthcare it consulting, general management, human resource consulting, procurement management, risk analysis and management, and other services. The major segment to contribute to the revenue of the business is the digital consulting segment. This can be attributed to the rising prevalence of digital models over paper-based traditional healthcare models for marketing and sales strategy, and rising end-user preferences for establishing smart and intelligent hospital or clinic to offer patient-centric care. Moreover due to the gradual shift of focus from old school health workflow and doctor-patient visits, to digital-based consultation and e-workflow management, many consulting companies are offering digital consulting services to most of the healthcare providers the most.
Online Healthcare Consulting Market: By End-User
According to the consumer analysis, the market is divided into pharma & biotech firms, healthcare providers & payers, and government/ public sector. Healthcare providers are the major end-users of the healthcare consulting business. Due to the increasing number of hospitals and clinics in emerging countries, the rising prevalence of online consultation and digitization of most of the independent doctors and therapists, and growing need for data management will help this end-user segment grow in the forecast period.
Online Healthcare Consulting Market: By Region
The regional analysis study involves North America, Asia-Pacific, Europe, Middle East & Africa, & Central and South America. The Asia-Pacific region will be the prime focus of the market players as it’s a hub of opportunities for the consulting business. This is mainly due to the increasing importance of data-driven decision taken for any action related to hospital management, rising focus of the industry on remote patient monitoring due to the hard-hit of COVID-19, and rising need for streaming healthcare workflow in countries like China, Japan, India, Australia, etc. Furthermore, North America will stand firm in its 1st position in the market as per the market revenue/ share is concerned. This is mainly due to rising government and private fundings for Healthcare IT services and projects, major transmission of in-patient or out-patient system, and the launch of latest/ advanced medical technologies in the region.
Online Healthcare Consulting Market Share and Competitor Analysis
Major consulting companies offering such healthcare services are Deloitte Touche Tohmatsu Limited, McKinsey & Company, Accenture Consulting, Huron Consulting, PWC, Ernst & Young, The Boston Consulting Group, Bain & Company, KPMG, Cognizant, Gerson Lehrman Group, GE Healthcare Partners, ZS Associates, ClearView Healthcare Partners, L.E.K. Consulting, IQVIA, Kaiser Associates, Navigant Consulting, Inc., Advisory Board Company, Mercer LLC, FTI Consulting, The Chartis Group, Oliver Wyman, and Health Advances among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In December 2019, a biopharmaceutical firm namely UCB entered into a collaboration with Accenture for building safety solutions on INTIENT Pharmacovigilance product for enhancing patient report case management.
In April 2019, NTT DATA Services, acquired Cognosante Consulting, LLC, which is a leader in the consulting division for the healthcare industry, to enhance its healthcare IT service platform.
Check the Press Release on Global Online Healthcare Consulting Market Report
Online Healthcare Consulting Market: By Type of Service
Online Healthcare Consulting Market: By End-User
Online Healthcare Consulting Market: By Region
The global Online Healthcare Consulting Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Online Healthcare Consulting Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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