The healthcare consulting market generates $10 billion in global revenues

The healthcare sector consulting market has broken the $10 billion barrier for global revenues, with growth in China recorded at 27 percent last year.

The consulting industry research and strategy firm also predicts the healthcare market to continue its upwards growth trend in the coming years, building on the 9.1 percent rise in 2018 (which followed growth figures of 8 percent in 2017) to reach double figures this year and then 12 percent in 2020.

While the US commands the bulk of the overall market – currently generating over 70 percent of the global revenues – markets in the Asia Pacific are among the world’s primary hot-spots for healthcare consulting, led by China, which in another ‘blockbuster’ year delivered growth of 27.3 percent.

Altogether, eight of the ten largest healthcare consulting markets experienced accelerated growth last year, with much of that growth driven by demand for digitisation; the healthcare tech consulting segment accounting for a third of overall revenues, with growth of 11.6 percent.

This tilt to digital and cost-cutting in the healthcare landscape was backed by Protiviti Global Healthcare Practice Leader Richard Williams, one of a large number of healthcare consulting heavyweights canvassed for the report; “The entire industry is facing a digitally transformed future
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The consulting industry research and strategy firm also predicts the healthcare market to continue its upwards growth trend in the coming years, building on the 9.1 percent rise in 2018 (which followed growth figures of 8 percent in 2017) to reach double figures this year and then 12 percent in 2020. “The first three quarters of 2019 have been nothing short of remarkable,” said interviewee Ed Giniat, National Sector Leader for Healthcare & Life Sciences at KPMG US.

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