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Global Healthcare Consulting Market Report 2023: Sector to Reach $52.2 Billion by 2031 at a 9.9% CAGR

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Dublin, May 26, 2023 (GLOBE NEWSWIRE) — The “Global Healthcare Consulting Market Report and Forecast 2023-2031” report has been added to ResearchAndMarkets.com’s offering.

The global healthcare consulting market value was USD 22.4 billion in 2022, driven by the increasing demand for healthcare services across the globe.

The market size is anticipated to grow at a CAGR of 9.9% during the forecast period of 2023-2031 to achieve a value of USD 52.3 billion by 2031.

Healthcare Consulting: Introduction

Healthcare consulting refers to the process of providing expert advice to healthcare organizations, including hospitals, clinics, and government agencies, in order to improve their overall performance. Healthcare consulting firms offer a wide range of services, including strategy development, operational improvement, financial management, and regulatory compliance.

These services are designed to help healthcare organizations overcome challenges and achieve their goals, such as increasing efficiency, improving patient outcomes, and reducing costs.

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Healthcare Consulting Market Scenario

The healthcare consulting market has been growing rapidly in recent years, driven by a range of factors, including increasing demand for healthcare services, rising healthcare costs, and the need for healthcare organizations to improve their performance in a competitive environment.

Healthcare consulting refers to a service provided by consulting firms, industry experts, and advisors to healthcare organizations such as hospitals, clinics, and pharmaceutical companies. The main objective of healthcare consulting is to enhance the quality of healthcare services, reduce costs, and improve patient outcomes. Healthcare consulting services encompass a wide range of areas such as management consulting, digital healthcare, healthcare IT, and clinical consulting.

The healthcare consulting market is experiencing robust growth due to several factors such as the increasing prevalence of chronic diseases, rising healthcare costs, and the need for effective healthcare management. Moreover, the growing adoption of advanced technologies in the healthcare industry, such as artificial intelligence, big data analytics, and cloud computing, is driving the demand for healthcare consulting services. These technologies help healthcare organizations to streamline their operations, enhance the quality of care, and improve patient outcomes.

Another key trend in the healthcare consulting market is the increasing demand for specialized consulting services. Healthcare organizations are seeking the expertise of consulting firms and industry experts to address specific challenges such as healthcare IT integration, clinical trial management, and regulatory compliance. As a result, consulting firms are focusing on building specialized capabilities to cater to the growing demand for specialized consulting services.

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In addition, the healthcare consulting market is witnessing significant consolidation, with large consulting firms acquiring smaller firms to expand their service offerings and geographic reach. This trend is expected to continue in the future, driven by the need to provide end-to-end solutions to healthcare organizations and increase market share. Overall, the healthcare consulting market is expected to grow at a significant pace in the coming years, driven by the increasing demand for healthcare services and the need for effective healthcare management.

Healthcare Consulting Market Segmentations
Market Breakup by Services

  • Healthcare IT Consulting
  • Finance, Operations, and General Management
  • Strategy Consulting
  • HR and Talent Consulting
  • Marketing and Sales
  • Others

Market Breakup by End User

  • Pharmaceutical Companies
  • Hospitals
  • Insurance Companies
  • Government Organizations
  • Other Healthcare Providers

Market Breakup by Region
North America

  • United States of America
  • Canada

Europe

  • United Kingdom
  • Germany
  • France
  • Italy
  • Others

Asia Pacific

  • China
  • Japan
  • India
  • ASEAN
  • Australia
  • Others

Latin America

  • Brazil
  • Argentina
  • Mexico
  • Others

Middle East and Africa

  • Saudi Arabia
  • United Arab Emirates
  • Nigeria
  • South Africa
  • Others

Key Trends in the Healthcare Consulting Market

Some key trends of the market are as follows:

  • Increasing demand for digital healthcare consulting services, including telemedicine and virtual care, as a result of the COVID-19 pandemic
  • Growing focus on data analytics and artificial intelligence (AI) in healthcare consulting to improve patient outcomes and reduce costs
  • Greater emphasis on regulatory compliance and risk management in healthcare consulting, particularly with the introduction of new regulations such as the General Data Protection Regulation (GDPR) and the Health Insurance Portability and Accountability Act (HIPAA)
  • Rising demand for specialized consulting services in areas such as healthcare IT, revenue cycle management, and supply chain management, as healthcare organizations seek to optimize their operations and reduce costs

Healthcare Consulting Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

  • Accenture plc
  • McKinsey & Company
  • Deloitte Touche Tohmatsu Limited
  • PwC
  • L.E.K. Consulting
  • Huron Consulting Group Inc
  • Cognizant Technology Solutions Corporation
  • Ernst & Young Global Limited
  • Bain & Company, Inc
  • Boston Consulting Group
  • IQVIA, Inc
  • Siemens Healthineers

Key Attributes:

Report Attribute Details
No. of Pages 147
Forecast Period 2023 – 2031
Estimated Market Value (USD) in 2023 $24.6 Billion
Forecasted Market Value (USD) by 2031 $52.3 Billion
Compound Annual Growth Rate 9.9%
Regions Covered Global

Key Topics Covered:

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1 Preface

2 Executive Summary

3 Global Healthcare Consulting Market Overview

4 Global Healthcare Consulting Market Landscape

5 Global Healthcare Consulting Market Dynamics

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6 Global Healthcare Consulting Market Segmentation

7 North America Healthcare Consulting Market

8 Europe Healthcare Consulting Market

9 Asia Pacific Healthcare Consulting Market

10 Latin America Healthcare Consulting Market

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11 Middle East and Africa Healthcare Consulting Market

12 Patent Analysis

13 Grants Analysis

14 Funding Analysis

15 Partnership and Collaborations Analysis

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16 Regulatory Framework

17 Supplier Landscape

18 Global Healthcare Consulting Market – Distribution Model (Additional Insight)

19 Key Opinion Leaders (KOL) Insights (Additional Insight)

20 Company Competitiveness Analysis (Additional Insight)

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21 Payment Methods (Additional Insight)

For more information about this report visit https://www.researchandmarkets.com/r/r4l5ek

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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Artificial Intelligence

ZA Tech Rebrands as Peak3, Raises US$35M Series A led by EQT

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SINGAPORE, June 19, 2024 /PRNewswire/ — ZA Tech, the next-generation insurance core system SaaS provider, has rebranded as Peak3. With the successful completion of its US$35 million Series A fundraising from EQT (lead investor) and Alpha JWC Ventures, Peak3 now accelerates its expansion in the EMEA region and investments in complementary data and AI solutions.

In a market dominated by fragmented legacy technology, Peak3 has pioneered a cloud-native, modular insurance core and distribution system that combines comprehensive capabilities for life, health, and property and casualty (P&C) insurance. Since its founding in 2018, Peak3 has become a trusted technology partner to global insurers such as AIA, Generali, Prudential, and Zurich for their digital and traditional business. It has also partnered with leading digital platforms such as Carro, Grab, Klook, and PayPay to build and scale their embedded insurance businesses.
Besides the successful fundraising, Peak3 has recently achieved key milestones underpinning the rebranding. These transformative achievements include launching its first multi-country, multi-tenant core modernisation in Europe, rolling out an integrated customer data and big data platform for scaling analytics and AI capabilities, and establishing its first technology centre in Europe. The rebranding coincides with another major milestone: Issuing over a billion insurance policies on Peak3’s systems – including the first policies issued to North American customers and the first ones to be issued in Africa.
“We have evolved from an embedded insurance pioneer in Asia to a global end-to-end technology partner for the insurance industry,” said Bill Song, Peak3 Group CEO and Co-Founder. “Our new name represents three pinnacles: scaling the heights of innovation, surpassing performance limits, and delivering superior reliability – as we help insurers reach the highest summits of their cloud, data, and AI transformation.”
Bill Song also emphasised the growth opportunity: “There is an incredible tech investment backlog in the US$7-trillion global insurance industry. Continued digitalisation and the proliferation of AI will require structural investments by insurers over the next decade to modernise their core systems. We are uniquely positioned to capture this opportunity by providing the tech core foundations and innovation use cases.” 
To accelerate its growth journey, Peak3 completed its Series A fundraising and welcomed two new investors on its cap table: EQT, a major global technology investor with a deep heritage in Europe, and Alpha JWC Ventures, a leading venture firm in Southeast Asia. With the funding, Peak3 will advance its analytics and AI capabilities toward an intelligent core insurance solution, grow its EMEA operations and establish new system integrator partnerships. Peak3 targets double-digit ARR growth this year and is on the path to reach cashflow breakeven over the coming quarters.
“Peak3 has also proven its capability to deliver greenfield digital insurance initiatives and complex multi-country core modernisation projects in APAC and EMEA. As the lead investor, EQT is committed to empowering Peak3 in its go-to-market acceleration by leveraging our global network,” stated Clara Ho, Partner at EQT.
J.P. Morgan acted as exclusive financial advisor to Peak3 for this Series A fundraising.
For media inquiries and interview requests, please contact Carling Sia, Global Head of Branding and Marketing, at [email protected].
For more information on Peak3, please visit www.peak3.com. For more information on EQT, please visit www.eqtgroup.com.For more information on Alpha JWC Ventures, please visit www.alphajwc.com.
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Artificial Intelligence

Lucinity Recognized as One of the Top 100 AI Fintech Companies Globally

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REYKJAVIK, Iceland, June 18, 2024 /PRNewswire/ — Lucinity has been featured in the AIFinTech100 list for 2024, marking its recognition as one of the top AI companies in the financial services industry. The AIFinTech100 list, curated by industry experts, highlights the most innovative fintech companies globally. Lucinity was selected from over 2,000 fintech firms for its problem-solving, market potential, innovation, and customer engagement. Earlier this year, Lucinity was also highlighted as a RegTech100 company.

 
 
This recognition comes amid rapid AI adoption in fintech. According to Fintech Global, research predicts the AI market in fintech will grow from $42.83 billion to $44.08 billion by 2024, reaching $50.87 billion by 2029. Banks alone are expected to spend $4.9 billion on AI platforms by 2024, with a 21.8% annual growth rate since 2019.
Lucinity’s inclusion in the AIFinTech100 list reflects its success in developing AI solutions that enhance efficiencies and cost savings for financial crime operations teams. Notably, Luci, the world’s first Generative AI copilot for financial crime investigations, launched in 2023, leverages Microsoft OpenAI technologies to augment human analysts’ capabilities, reducing investigation times from 3 hours to just 30 minutes. 
Lucinity also recently launched Luci as a copilot plugin at Money20/20. Financial institutions are now able to integrate Luci with any web-based enterprise application including CRM systems, Case Manager systems, and Excel, delivering immediate ROI with zero upfront integration. 
Security remains a significant challenge in AI adoption. Lucinity addresses this by partnering with Microsoft Azure develop a secure infrastructure. With a strong emphasis on compliance, Luci offers comprehensive auditability through its detailed Audit Log functionality.
Guðmundur Kristjánsson (GK), CEO of Lucinity, comments, “Being named in the AIFinTech100 showcases our impact amongst banks and fintech through advanced AI. It underscores our platform’s ability to empower compliance teams, deliver ROI, and reduce operational costs.”
Richard Sachar, Director of FinTech Global, added, “AI is revolutionizing financial services, increasing efficiencies and offering personalized products. This year’s AIFinTech100 list includes top innovators transforming the industry with AI applications.”
Lucinity’s inclusion in the AIFinTech100 list for 2024 follows several achievements, including winning the Microsoft Partner of the Year Awards for Sustainability and Social Impact and Partner of the Year – Iceland. Lucinity was also included in Chartis Research’s FinCrime and Compliance 50 Ranking for 2024 and was recognized as the best tool for Workflow Automation.
Name: Celina PabloEmail: [email protected] +354 792 4321
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CRISIL wins Model Validation Tools and Accelerators category award, other recognitions from Chartis

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Recognized among top 50 financial services firms for analytics and risk tech
MUMBAI, India, June 18, 2024 /PRNewswire/ — CRISIL, a global provider of advanced analytics and risk management solutions, has won the Solution Category award for Model Validation Tools and Accelerators as part of the latest Chartis STORM 2024 report.

Published by Chartis Research, the leading provider of research and analysis on the global market for risk technology, STORM 2024 is an annual report on quantitative technologies and the computational infrastructure supporting it.
Following an extensive evaluation process, which included a risk technology survey, product demo, customer reference checks, and third-party sources of information, CRISIL won the following recognitions:
Solution category award for Model Validation Tools and AcceleratorsRanked Top 25 (#24) in QuantTech50 2024 rankingsRanked Top 25 (#24) in BuySideRisk50 2024 rankingsRanked Top 50 (#38) in RetailFinanceAnalytics50 2024 rankingsThe recognitions reflect the unparalleled value CRISIL brings to its clients through deep domain expertise, specialized analytical and technical knowledge and our global perspective.
Says Jan Larsen, President and Head, CRISIL Global Research & Risk Solutions, “CRISIL is honored by the recognition across multiple STORM50 award categories this year, including being named first place for Model Validation Tools and Accelerators. This is a great testament to the contributions of our team in giving clients and their regulators confidence in the models they use for making critical decisions.”
The core tenets of CRISIL’s value proposition include expertise across asset classes and risk stripes, analytical excellence and regulatory experience, tailored solutions focused on client delight, continuous improvement and technological innovation. 
Says Ashish Vora, President, CRISIL Market Intelligence and Analytics, “This prestigious recognition underscores the global acceptance of our risk management solutions and highlights our unwavering commitment to excellence in the risk technology space. Our Credit+ technology solutions have been instrumental in offering AI-enabled advanced analytics and driving efficiency, and we are particularly proud of the exceptional client feedback we have received for these solutions. We are constantly exploring new ways to enhance customer value and are investing in cutting-edge technology and domain expertise to maintain our position at the forefront of the industry.”
Notable examples of CRISIL’s platforms that help demonstrate this value proposition include: 
Model Infinity: A leading platform for model inventory management and model risk management. This innovative platform empowers our client to centralize all model activities, eliminates manual processes and operational risk, and provides a full audit trail of approvals for modeling assumptions and updates. Scenario Expansion Manager (SEM): A platform for clients to expand, analyze and track all regulatory and internal scenarios used for stress testing. As a centralized repository of scenarios, SEM allows institutions to eliminate redundant internal work and even provide clients the ability to share internal scenarios with one another. Credit+ ICON: The platform enables credit decision-making through its extensive financial spreading and front-end based credit risk scorecard hosting capabilities. Powered by deep domain expertise, AI-driven analytics and extensive configurability, it serves 40+ global clients across 15 countries.Credit+ Early Warning Signals: The AI-powered solution provides banks with actionable insights to monitor their credit quality, lower loan-loss contingencies and track corrective action plan.About CRISIL Market Intelligence & Analytics
About Global Research & Risk Solutions
About CRISIL Limited
Connect with us: LINKEDIN | TWITTER | YOUTUBE | FACEBOOK 
CRISIL PRIVACY
Disclaimer
This press release is transmitted to you for the sole purpose of dissemination through your newspaper/ magazine/ agency. The press release may be used by you in full or in part without changing the meaning or context thereof but with due credit to CRISIL. However, CRISIL alone has the sole right of distribution of its press releases for consideration or otherwise through any media including websites, portals, etc.
CRISIL has taken due care and caution in preparing this press release. Information has been obtained by CRISIL from sources which it considers reliable. However, CRISIL does not guarantee the accuracy, adequacy or completeness of information on which this press release is based and is not responsible for any errors or omissions or for the results obtained from the use of this press release. CRISIL, especially states that it has no financial liability whatsoever to the subscribers/ users/ transmitters/ distributors of this press release.
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