LONDON, Dec. 22, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research on the healthcare IT consulting market, the global healthcare IT consulting market size is expected to grow from $38.14 billion in 2021 to $44.90 billion in 2022 at a compound annual growth rate (CAGR) of 17.7%. 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, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The healthcare IT consulting market is expected to grow to $83.42 billion in 2026 at a CAGR of 16.7%.
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Growing digitalization in healthcare is expected to propel the healthcare IT consulting market growth 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.
As per TBRC’s healthcare IT consulting market research, the 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.
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.
North America was the largest region in the healthcare IT consulting market in 2021. 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, the Middle East, and Africa.
The global healthcare IT consulting market is segmented by type into 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; by component into services, software, hardware; by end user into hospitals and ambulatory care centers, diagnostic and imaging centers, public and private payers, other end users.
Healthcare IT Consulting Global Market Report 2022 –Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide healthcare IT consulting market outlook, healthcare IT consulting market forecast size and growth, healthcare IT consulting market share, healthcare IT consulting market segments, healthcare IT consulting market trends, drivers and restraints, leading competitors’ revenues, profiles and market shares in its competitive landscape section for over 3,000 industry reports, covering more than 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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