Global Clinical Workflow Solutions Market - 2022-2029
The global clinical workflow solutions market size was valued at US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).
Clinical workflow solutions are tools that help doctors or surgeons, nurses or other staff, and patients better coordinate by supporting improved workflows and assisting clinics and hospitals in collaborating. Surveillance and analytics are also employed for effective workflow monitoring. Through the integration of clinical workflow solutions, all departments in the hospital can operate in harmony and cooperation to provide patients with proper safety and care. These solutions would benefit both patients and employees due to increased flexibility for process optimization, increased transparency, data cross-matching, a positive experience, and varying degrees of compensation.
The market is being driven by various factors, including a rise in the number of patients as chronic diseases become more prevalent, numerous government initiatives for healthcare information technology, and the growing desire to reduce healthcare costs.
Increasing prevalence of obesity will drive the market growth
The global market is being driven primarily by a significant increase in cardiometabolic risk factors among the general population. In line with this, the prevalence of hypertension, diabetes, dyslipidemia, metabolic syndrome, and obesity is increasing due to a combination of variables such as sedentary lifestyles, changing dietary patterns, and stressful work schedules. This has resulted in a large increase in medical services, facilitating market expansion. The rising aging of the population and the development of chronic diseases have required the demand for high-quality healthcare services and pharmaceuticals. Furthermore, multi-modal hospitals' high demand for clinical workflow solutions, expanding use of EHR and other HCIT solutions, and rising desire for improved clinician productivity and patient-centered treatment are major factors driving market expansion.
Furthermore, the Clinical Workflow Market is being fueled by increased government initiatives to implement healthcare information technology and an increase in the number of patients suffering from chronic diseases. Furthermore, rising needs have lowered healthcare prices, a crucial driver driving the industry forward. Furthermore, the growing number of patients necessitates the management of large amounts of data and records, which Clinical Workflow may help with. These factors are likely to boost the Clinical Workflow Solutions market.
Interoperability issues are most likely to hamper the market growth
When faced with limited interoperability, hospitals typically establish license interfaces to import and export data from internal and external sources, such as the hospital's EHR, labs, admission/discharge/transfer, medical equipment, and outside laboratories. A single hospital may thus use a few dozen interfaces, whereas a major health system with multiple locations may require hundreds or even thousands of interfaces.Moreover, the scarcity of skilled employees is a major roadblock to hospital IT system installation. As the number of healthcare IT efforts expands, healthcare organizations and vendors find it difficult to attract qualified individuals. In developing and affluent countries like the United States and Europe, demand for healthcare IT expertise is currently far outpacing supply. As a result, a scarcity of qualified specialists poses a significant barrier to industry expansion
COVID-19 Impact Analysis
The COVID-19 outbreak is a global health issue wreaking devastation on communities, industries, and people's lives. COVID's immediate and direct impact has resulted in the death of millions of people and a considerable increase in healthcare costs. Medical monitoring and safety reporting are critical because various potential treatments were tried before vaccine development and are now being used to treat the coronavirus-induced infection. As a result, the demand for clinical workflow solutions has increased and is expected to increase more soon. New potential Corona virus therapeutics identified with a combined virtual and experimental screening strategy and chosen from a library of nearly 4000 approved drugs were studied for structural similarity against a library of nearly 4000 approved drugs with hydroxychloroquine (HCQ) as a reference drug in a study published in the American Chemical Society Pharmacology and Translational Science, 2020. Zuclopenthixol, nebivolol, and amodiaquine were offered as prospective clinical trial candidates against the early stage of SARS-CoV-2 infection, as well as remdesivir and favipiravir therapies as potential adjuvants in COVID-19 treatment. The demand for clinical workflow solutions has increased due to the rising number of clinical studies due to the repurposing of various drugs.
The data integration solutions segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)
The data integration solutions sub-segment led the market in product type segmentation in 2020. The substantial proportion of this sub-segment was mostly due to the increased demand for proper administration and storage solutions capable of managing the growing volume of medical records. Increasing government incentives to enhance healthcare digitalization and the need to limit healthcare costs are also contributing to industry expansion.
North America region holds the largest market share of the global clinical workflow solutions market
North America will be the top revenue producer in the global clinical workflow solutions market. The rising frequency of chronic diseases in the United States has led to an increase in hospital admissions. The development of massive amounts of data and the growing need to manage that data have increased the demand for clinical workflow solutions in North America. Furthermore, the rapidly rising geriatric population in the United States is predicted to put additional strain on the country's healthcare systems, driving the expansion of the clinical workflow solutions market in North America. For instance, according to statistics published by EHR intelligence in August 2018, the regional government has committed USD 38 billion to healthcare facilities since 2011 to install EHR systems through the Meaningful Use (MU) program in Medicaid and Medicare. Advanced healthcare infrastructure is expected to drive the growth of the Clinical Workflow Solutions market in North America.
The clinical workflow solutions market is a highly competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Allscripts Healthcare Solutions, ASCOM, CISCO, GE Healthcare, Hill Rom Holdings Inc, Athena Health, Cocera, Philips, Mckesson Corporation, Cerner Corporation, among others.
The key players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the clinical workflow solutions market globally. For instance, in September 2018, Google and the American Medical Association (AMA) cooperated to launch the AMA health care interoperability and innovation challenge. Initiatives like these are expected to boost demand for clinical workflow solutions during the projected period.
Hill-Rom Holdings Inc
Hill-Rom Holdings Inc is a medical technology firm that provides patient support systems, surgical solutions, and equipment for front-line care. Its main goods and services are patient mobility solutions, specialty frames and surfaces, non-invasive treatment products and surfaces, patient monitoring and diagnostics products, respiratory health products, and surgical devices used in operating rooms. Hillrom's products are available for acute care hospitals, long-term care facilities, and home healthcare agencies. The company is also moving forward with clinical initiatives to provide tools for creating a safe environment for patients and employees, measuring and treating pressure injuries, and preventing falls.
NaviCare Nurse Call: NaviCare Nurse Call includes a graphical touch screen patient station, allowing caregivers to speak with patients more quickly, decrease steps in their routine, and undertake more patient care tasks at the bedside.
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Global Clinical Workflow Solutions Market- By Type
Real Time Communication Solutions
Nurse Call Alert Systems
Data Integration Solutions
Medical Image Integrations
Electronic Health Record
Workflow Automation Solutions
Nursing and Staff Scheduling Solutions
Patient Flow Management Solutions
Enterprise Reporting and Analytics Solutions
Care Collaboration Solutions
Perinatal Care Management
Global Clinical Workflow Solutions Market- By End User
Ambulatory Care Facilities
Long-term care facilities
Global Clinical Workflow Solutions Market- By Region
Middle East & Africa
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