Healthcare IT Consulting Services Market Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2022
Healthcare IT Consulting Services Market Overview:
The HCIT Consulting Services Market is estimated to grow at a 19.8% CAGR from USD 18.38 billion in 2017 to USD 45.42 billion in 2022. Growing healthcare digitization, rapid changes in the HCIT landscape, government support for healthcare IT solutions, rising HCIT expenditure, a scarcity of skilled IT professionals in healthcare, increasing venture capital investments in health IT, and a growing need for data security are all expected to propel the HCIT consulting services market forward.
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Research Methodology
This research study involved the extensive use of secondary sources; directories; databases such as Hoovers, Bloomberg Business, Factiva, and OneSource; white papers; annual reports; company house documents; and SEC filings of companies. Secondary research was mainly used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the HCIT consulting services market. It was also used to obtain key information about the market classification and segmentation according to the industry trends, regional markets, and developments related to market and technology perspectives. Primary sources were mainly several industry experts from core and related industries; and manufacturers, service providers, technology developers, researchers, and organizations related to all segments of this industry’s value chain.
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Market Segmentation:
Healthcare application analysis, design, and development segment to dominate the market in 2017
Based on type, the global HCIT consulting services market is segmented into HCIT strategy and project/program management; healthcare application analysis, design, and development; HCIT integration and migration; HCIT change management; healthcare/medical system & security set-up and risk assessment; healthcare enterprise reporting and data analytics services; production go-live/post go-live support; healthcare business process management; regulatory compliance; and others consulting services. In 2017, the healthcare application analysis, design, and development segment is expected to account for the largest share of the global HCIT consulting services market. The growth of this segment can be attributed to the fact that IT application analysis, design, and development form the major component of all IT solution implementation projects. Every healthcare facility has different requirements, which need careful designing, development, and implementation of customized solutions.
Based on end user, the healthcare payers segment is projected to register the highest CAGR
Based on end user, the market is segmented into healthcare providers, payers, and other end users. In 2017, healthcare payers segment is expected to witness the highest growth during the forecast period. The high growth rate of this segment can be attributed to factors like growing adoption of healthcare IT solutions by private and public payers, growing need for insurance payers to comply with various federal and regional laws and regulations, and growing focus of payers on reforming their business models for improved patient care delivery.
Key Players:
The healthcare IT consulting market is highly fragmented with several big and small players. Prominent players in the healthcare IT consulting services market include Accenture plc (Ireland), Cognizant Technology Solutions Corporation (U.S.), Deloitte Touche Tohmatsu Limited (U.S.), Cerner Corporation (U.S.), Siemens Healthineers (Germany), McKesson Corporation (U.S.), Epic Systems Corporation (U.S.), IBM Corporation (U.S.), General Electric Company (U.S.), Tata Consultancy Services Limited (India), Koninklijke Philips N.V. (Netherlands), NTT DATA Corporation (Japan), Infor Inc. (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), and Oracle Corporation (U.S.).
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