Clinical Workflow Market Size And Forecast
Accordingto Verified Market Research, the Global Clinical Workflow Market was valued atUSD 7,877.50 Million in 2019 and is projected to reach USD 21,445.73 Million by2027,growing at a CAGR of 13.26% from 2020 to 2027.
ClinicalWorkflow Market is driven by various factors such as an increase in the numberof patients due to growing chronic disorders, various governments have takeninitiative for healthcare information technology, and the increasing need tocurb healthcare cost. The Global Clinical Workflow Market report providesa holistic evaluation of the market. The report offers a comprehensive analysisof key segments, trends, drivers, restraints, competitive landscape, andfactors that are playing a substantial role in the market.
GlobalClinical Workflow Market Definition
Clinicalworkflow solutions are tools that facilitate better coordination among doctorsor surgeons, nurses or other staff, patients, by facilitating better workflows,and by helping clinics and hospitals collaborate. In addition, for effectivemonitoring of the workflow, surveillance and analytics are used. Alldepartments in the hospital can work in harmony and coordination through theintegration of clinical workflow solutions to offer patients adequate safetyand care. These solutions would be beneficial for both patients and staff due toimproved flexibility for optimization of the workflow, improved transparency,data cross martyring, satisfactory experience, and varying levels ofreimbursement.
The integration of clinical workflow solutionsin all departments is prioritized by healthcare providers such as clinics,hospital diagnostic centers to ensure better workflows of tediousdocumentation, management of administrative staff as well as healthcareprofessionals and to have easy access to the clinical patient informationneeded for decision making. In addition, hospitals with sub-branches must alsoshare the data with other branches in order to increase the use ofinteroperable quality solutions. Therefore, the growing demand for patients togain seamless and quality care and to increase productivity strengthens thedemand for clinical workflow solutions.
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GlobalClinical Workflow Market Overview
Theglobal market is primarily driven by a significant increase in cardiometabolicrisk factors among the masses. In line with this, there is an increasingprevalence of hypertension, diabetes, dyslipidemia, metabolic syndrome, andobesity, owing to the confluence of various factors, including sedentarylifestyles, changing dietary patterns, and hectic working schedules. This hascontributed to a significant increase in the uptake of medical services,thereby facilitating the growth of the market. The rapid growth in the agingpopulation and prevalence of the chronic disease has necessitated the need forquality healthcare services and drugs. Furthermore, high demand for clinicalworkflow solutions from multi-modal hospitals, growing adoption of EHR andother HCIT solutions, and increasing demand for improved clinician productivity& patient-centered treatment are some of the other factors that aresupporting the growth of the market.
Moreover,rising government initiatives for the adoption of healthcare informationtechnology and a rising number of patients suffering from chronic diseases arefueling the growth of the Clinical Workflow Market. Furthermore, increasingneeds have curtailed healthcare costs is a major factor that accelerating thegrowth of the market. In addition, an increasing number of patients creates theneed to manage wide data and records that can be overcome by usage of ClinicalWorkflow.
However,the requirement of a well-developed IT infrastructure, the high level ofinvestment, and the effective coordination to develop an interoperable platformfor the utilization of data are the factors hindering the market growth.Nevertheless, growing telehealth and remote patient monitoring markets cancreate a lucrative growth opportunity for the global clinical workflow market.
GlobalClinical Workflow Market Segmentation Analysis:
TheGlobal Clinical Workflow Market is Segmented on the basis of Type, Application,And Geography.
• Workflow Automation Solutions
• Care Collaboration Solutions
• Real-time Communication Solutions
• Data Integration Solutions
• Others
Based on Type, the market is segmented into Workflow AutomationSolutions, Care Collaboration Solutions, Real-time Communication Solutions,Data Integration Solutions, Others. The data integration segment is furthersub-segmented into EMR integration solutions and Medical image integrationsolutions. Data integration solutions accounted for the largest market share in2019. The rising demand for EMR integration solutions and Medical imageintegration solutions can be attributed to the increasing demand for usingmedical records and integrating them across hospital departments has been oneof the major drivers for data integration solutions. Growth in this market isfurther driven by the implementation of government initiatives supporting theadoption of HCIT solutions, the advantages of clinical workflow solutions inenhancing patient care and safety, and increasing patient volume due to theCOVID-19 pandemic.
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ClinicalWorkflow Market, By Application
•Hospitals
• Long-term care facilities
• Ambulatory Care Centers
Basedon Application, the market is bifurcated into Hospitals, Long-term carefacilities, Ambulatory Care Centers. Hospitals accounted for the largest marketshare in 2019 is projected to grow at a CAGR of 14.21% during the forecastperiod. As the healthcare industry is moving to a more integrated and collaborativecare delivery and payment model, the demand for the clinical workflow isexpected to grow at an exponential rate over the forecast period. Factors suchas the increasing need to streamline administrative tasks, secure clinicalinformation, and improve access to information; increasing need for earlydetection and intervention for reducing the risk of acute complications; andrising focus on reducing treatment costs are driving the growth of thisapplication segment.
ClinicalWorkflow Market, By Geography
•North America
• Europe
• Asia Pacific
• Rest of the World
Onthe basis of regional analysis, the Global Clinical Workflow Market isclassified into North America, Europe, Asia Pacific and Rest of the world.North America is expected to hold the largest market share of the ClinicalWorkflow Market over the forecast period followed by Europe. The presence ofkey players such as Hill-Rom Holdings, Inc., Cisco Systems, Inc., GEHealthcare, Infor, Inc., and Allscripts Healthcare Solutions, Inc. in North Americanis one of the major factors anticipated to drive the growth of the market.Further, the drastic rise in healthcare expenditure, high demand to achievebetter health outputs at lower costs and the availability of a well-developedinfrastructure is propelling the market for clinical workflow solutions in theregion.
KeyPlayers In Clinical Workflow Market
The“Global Clinical Workflow Market” study report will provide a valuable insightwith an emphasis on the global market. The major players in the marketare Hill-RomHoldings, Inc. (US), Ascom Holding AG (Switzerland), Koninklijke Philips N.V.(Netherlands), Cerner Corporation (US), Cisco Systems, Inc. (US), Stanley Black& Decker, Inc. (US), GE Healthcare (US), Epic Systems Corporation (US),Infor, Inc. (US), Allscripts Healthcare Solutions, Inc. (US), Spok, Inc. (US),Vocera Communications, Inc. (US), Capsule Technologies, Inc. (US), AMETEK, Inc.(US), NextGen Healthcare (US), Azure Healthcare Limited (Australia). Thecompetitive landscape section also includes key development strategies, marketshare, and market ranking analysis of the above-mentioned players globally.
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