New York, Aug. 09, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Management Consulting Firm Middle East Market Size & Share Analysis – Growth Trends & Forecasts (2023 – 2028)” – https://www.reportlinker.com/p06484436/?utm_source=GNWThe role of a healthcare consulting firm is to optimize efficiency, revenue generation, and structural improvements. This can take many forms, with various specializations emerging within the healthcare consulting sector.
The life sciences and healthcare industry in management consulting services benefit from various consulting services, including strategy and business planning, healthcare transformation and integration, digital health and health IT, healthcare quality and patient safety, healthcare operations and process optimization, healthcare revenue cycle management, regulatory compliance, and risk management, pharma, and biotech commercial strategy, healthcare analytics and data insights, healthcare policy, and advocacy.
The MEA region has a growing population and increasing healthcare needs. There is a demand for improved healthcare infrastructure, access to quality healthcare services, and better healthcare outcomes. Management consulting firms are crucial in advising healthcare organizations on strategic planning, operational efficiency, and process optimization to meet the rising demand effectively.
Among countries, Saudi Arabia is expected to register significant growth rates in the forecast period. Saudi Arabia has been investing heavily in its healthcare sector and has ambitious plans for its development. For instance, the Ministry of Health (MOH) has been allocated SAR 80,751,614 (USD 21,533,763) for FY 2023. The assigned budget, which accounts for 7% of the state budget, included a variety of expenses, such as employee compensation (CE), goods and services, social benefits, program and project expenditures, and other costs.?
In addition, as per The International Trade Administration (ITA), the Saudi Arabian government intends to invest more than USD 65 billion in Vision 2030 to build the nation’s healthcare system. Additionally, it targets the privatization of 2,300 primary health centers and 290 hospitals, increasing private sector participation from 40% to 65%. Further added, Saudi Arabia has comprehensive plans to increase the use of digital health. These include a USD 1.5 billion investment in health IT, a digital revolution, and an increase in the usage of telemedicine. Such instances would create opportunities for management consulting firms to support the healthcare industry in the country.The growth in the market has been driven due to Saudi Vision 2030, a comprehensive strategy to minimize the country’s dependency on oil and build new economic sectors because Saudi management consulting firms have been involved in various activities in keeping with this planned Initiatives to enhance public services, infrastructure expansion, renewable energy, and digital transformation.
For instance, in February 2023, PwC received two public sector contracts with Saudi Arabia’s Digital Government Authority and a strategic alliance with the Institute of Public Administration. Under the aegis of Vision 2030, these contracts would assist the Saudi government in advancing its enormous digital agenda.
The management consulting services in Saudi Arabia have been witnessing growth in the healthcare segment due to the rapidly advancing patient experience, quality of care, and efficiency through digitizing its healthcare system, which is creating opportunities for local vendors, notably in the sectors of strategic consulting and technology advising in healthcare, which is fueling the market growth in the country.
For instance, in May 2023, Ash & Maple Management, a global firm in the management consulting industry, and LocalEyes, a Saudi-based firm that specializes in local content and economic offset strategies for multinational clients in industries like healthcare and pharmaceuticals, announced their alliance to support the demand of consulting services in the healthcare sector in the country.
Additionally, The International Trade Administration said in July 2022 that Saudi Arabia has been responsible for 60% of the GCC’s healthcare spending, and the government continues to place a high premium on this industry, which has accounted for 14.4% of its 2022 budget behind education and the military. Privatizing the healthcare industry has been included as the government’s goal, creating an opportunity for management consulting firms due to their expertise in providing business transformation services.3 months of analyst support
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(GlobeNewsWire)