Healthcare IT Consulting Market Size (2024 - 2029)

Healthcare IT Consulting Market Analysis

The Healthcare IT Consulting Market size is estimated at USD 58.03 billion in 2024, and is expected to reach USD 106.44 billion by 2029, growing at a CAGR of 12.90% during the forecast period (2024-2029).

Amid the COVID-19 pandemic, the healthcare system of countries is majorly dependent on online services, such as telemedicine. Through video calls, patients are getting appointments with doctors, which help in treating and monitoring diseases, in turn driving the healthcare IT market.

For instance, in India, in 2020, the Ministry of Health and Family Welfare, in coordination with the Niti Aayog, issued telemedicine guidelines, and it is providing regular online practice sessions for paramedics, nurses, and primary healthcare workers about procedures to be followed for the diagnosis, isolation, and communication of potential infections. Also, the increased use of technology, coupled with telemedicine through transparent guidelines, will improve access to healthcare even in remote locations in geographically diverse countries, like India.

Healthcare has witnessed considerable changes in the past few years in terms of serving the growing patient population. After the implementation of the 'Affordable Care Act,' in the US, more than a million Americans were insured. The healthcare IT consulting market is primarily driven by the rapid adoption of digitalization in healthcare across the globe. Strong IT support with agile methods is a competitive advantage for healthcare providers in achieving better quality, controlling costs, increasing profitability, and simplifying inventory management.

The integration of IT consulting services with medicine is expected to deliver benefits, like identifying individuals who may benefit from preventative care or lifestyle changes, classifying broad-scale disease profiling to identify predictive events and support prevention initiatives, analyzing patient characteristics, and analyzing the cost and outcomes of care to identify cost-effective treatments. For instance, the International Diabetes Federation estimates that between 2019 to 2045, the global expenditure for diabetes treatment is expected to grow from USD 760 billion to USD 845 billion.

Furthermore, there are increased opportunities for IT healthcare consulting owing to favorable government policies in developed and developing regions. Other factors, such as increasing government support for healthcare IT solutions, are expected to change the technological landscape over the forecast period. However, the high cost of deployment is expected to restrain the market's growth.

Healthcare IT Consulting Industry Segmentation

As per the scope of the report, healthcare IT consulting refers to advisory support provided to clients in automation, platform extensions, and integrated business process services to enhance business operation needs, application development, management services, etc. The healthcare IT consulting market is segmented by consulting type (HCIT change management, healthcare business process management, HCIT integration and migration, healthcare/medical system security set-up and risk assessment, healthcare enterprise reporting and data analytics, other consulting types), by end user (hospitals and ambulatory care centers, diagnostic and imaging centers, public and private payers, other end users), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.