According to Precedence Research, the global clinical workflow solutions market size is expected to reach around US$ 23.99 billion by 2030 from valued at USD 8.26 billion in 2021 with a CAGR of 12.6% from 2021 to 2030.
According to Precedence Research, the global clinical workflow solutions market size is expected to reach around US$ 23.99 billion by 2030 from valued at USD 8.26 billion in 2021 with a CAGR of 12.6% from 2021 to 2030.
Growth Factors
The growing initiatives of the government to adopt the healthcare IT solutions to improve the operational efficiency and reduce the healthcare costs of the hospitals has favored the growth of the global clinical workflow solutions market. Clinical workflow solutions is gaining rapid traction owing to improved patient safety and care outcomes. The clinical workflow solutions allows real-time flow of data that enables constant monitoring and results in improved patient outcomes. The growing geriatric population, limitations of budget, lack of resources, and lack of SOPs in the treatment are the major factors that drives the demand for the clinical workflow solutions across the globe. The increasing need to transfer data among the various departments of hospitals is increasing the demand for the interoperable solutions. The growing need for improving the productivity and enhance the patient care services are expected to drive the growth of the global clinical workflow solutions market.
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Report Highlights:
- Based on the type, the data integration solutions segment dominated the global clinical workflow solutions market in 2019. The rising prevalence of chronic diseases and growing geriatric population across the globe is fueling the number of hospital admissions, which is generating a huge volume of patient data. The healthcare providers are increasingly adopting the clinical workflow solutions to curb their costs. The surging adoption of the electronic medical records, regulatory reforms, and increasing focus towards value-based services has fostered the growth of the data integration solutions.
- Based on the end use, the hospitals segment dominated the market in 2019. This is attributed to the increasing number of hospitals across the globe, rising adoption of the digital technologies across the hospitals, rising government investments in the development of smart hospitals, and formulation of strict government norms on the use of electronic healthcare technologies has propelled the growth of the hospitals segment.
- North America was the leading revenue generator in the global clinical workflow solutions market in 2019. The increased prevalence of chronic diseases in US has resulted in the increased volume of hospital admissions. The generation of huge amount of data and the growing need to manage those data has fueled the demand for the clinical workflow solutions in North America. Moreover, the rapidly growing geriatric population in US is expected to increase the pressure on the healthcare systems of US and this is expected to drive the growth of the clinical workflow solutions market in North America. The higher adoption rate of the digital technologies in North America healthcare sector has further fueled the market growth and is expected to sustain its position throughout the forecast period.
- Asia Pacific is expected to foresee a significant growth rate. The rising government investments in the development of smart hospitals, considerable growing number of hospitals and clinics, rising prevalence of various diseases, and growing old age population in the region are some of the most prominent factors that are expected to drive the growth of the Asia Pacific clinical workflow solutions market. Furthermore, the rising adoption of the e-health platforms is positively impacting the market growth in the region.
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Future of Clinical Workflow Solutions Market
Growing demand for telehealth platforms and the rising demand for the remote patient monitoring owing to the advancements in the healthcare IT is expected to provide lucrative growth opportunities to the market players operating in the global clinical workflow solutions market. The surging usage of the peripheral medical equipment that allows remote monitoring of health conditions is expected to drive the market growth in the foreseeable future.
COVID-19 Impact Analysis:
- During the COVID-19, the adoption of the connected technologies provided a helpful solution to serve the huge volume of patients. The increased adoption of the EHR and EMR technologies during the COVID-19 was witnessed across the healthcare units.
- The demand for the telehealth and telemedicine spiked during the COVID-19 period. The patients were increasingly adopting the online consulting and education services of the telehealth platforms across the globe.
- The changes in the reimbursement policies in the developed markets pertaining to the e-health has favored the growth of the clinical workflow solutions market during the pandemic.
Key Developments in the Marketplace:
- In January 2020, Infor acquired Intelligent InSites, Inc. that aimed at enabling Infor to expand its portfolio.
- In April 2020, GE Healthcare introduced new virtual care solutions.
- In September 2018, Google and American Medical Association collaborated to launch AMA Health Care Interoperability and Innovation Challenge.
Some of the key players operating in the market are McKesson Corporation, Cerner Corporation, Allscripts Healthcare Solutions, Inc., NXGN Management, LLC, Vocera Communications, Koninklijke Philips N.V., Hill-Rom Services Inc., General Electric, Cisco, Stanly Healthcare, ASCOM, and athenahealth, Inc. among others.
Market Segmentation
By Type
- Real-Time Communication Solutions
- Unified Communication
- Nurse Call Alert Systems
- Data Integration Solutions
- Medical Image Integration
- EMR Integration
- Workflow Automation Solutions
- Nursing & Staff Scheduling Solutions
- Patient Flow Management Solutions
- Enterprise Reporting & Analytics Solutions
- Care Collaboration Solutions
- Rounding Solutions
- Perinatal Care Management
- Medication Administration
- Other Care Collaboration Solutions
By End-User
- Ambulatory Care Centers
- Long-term Care Facilities
- Hospitals
By Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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