Advancements in IT have provided an ever-expanding array of options like advanced broadband networks, mobile devices and networks, remote patient monitoring, high-definition video conferencing, and EHRs. This has generated significant opportunities for clinical workflow solution vendors. With the help of these integration solutions, the use of peripheral medical devices has enabled patients to remotely monitor their vital signs, such as blood pressure, weight, glucose levels, ECG, and body temperature, at home (with the data automatically being sent to a nurse or physician).
The Clinical
Workflow Solutions Market is
projected to reach USD 18.1 billion by 2025 from USD 9.1 billion in 2020, at a
CAGR of 14.8% during the forecast period.
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Market
Segmentation: -
Based
on products, the clinical workflow solutions market is segmented into workflow
automation solutions, care collaboration solutions, real-time communication
solutions, data integration solutions, and enterprise reporting and analytics
solutions. The data integration segment is estimated to account for the largest
market share in 2019. The large share of this segment can be attributed to the
increasing demand for using medical records and integrating them across
hospital departments has been one of the major drivers for data integration
solutions.
Based
on end users, the clinical workflow solutions market is segmented into
hospitals, long-term care facilities, and ambulatory care facilities. The
hospital segment is estimated to account for the largest market share in 2019.
Market
Drivers:
1 Advantages of clinical workflow solutions in
enhancing patient care and safety
2 Government initiatives for HCIT adoption
3 Growing adoption of EHRs and other HCIT solutions
4 Increasing patient volume due to the rising prevalence of chronic diseases and
COVID-19
5 Rising need to curtail healthcare costs
Regional
Analysis: -
North
America is expected to account for the largest share of the clinical workflow
solutions market in 2019, followed by Europe. The dominance of the North
American region can be attributed to the growing healthcare IT spending,
developed infrastructure, evolving regulations for better healthcare outcomes,
and the presence of major market players in the region.
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Top
Key Players: -
The
prominent players in the clinical workflow solutions market are are Hill-Rom
Holdings, Inc. (US), Ascom Holding AG (Switzerland), GE Healthcare (US),
Koninklijke Philips N.V. (Netherlands), Cisco Systems, Inc. (US), Stanley Black
& Decker, Inc. (US), Cerner Corporation (US), Infor, Inc. (US), Allscripts
Healthcare Solutions, Inc. (US), and McKesson Corporation (US).
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