Clinical Workflow Solutions Market Size to Amass US$ 16.99 Bn by 2027

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Precedence Research’s latest report on the global clinical workflow solutions market provides an analysis for the period of 2016 to 2027, wherein, 2020 is the base year, 2016 and before is historical data, and 2020 to 2027 is the forecast period.

The global clinical workflow solutions market size was valued at US$ 6.57 Billion in 2019 and is projected to reach US$ 16.99 Billion by 2027, rising at a market growth (CAGR) of 12.6% during the forecast period.

Precedence Research provides an in-depth analysis of market size, share analysis, Industry growth, market valuation, market dynamics which includes drivers, restraints, opportunities, trends, challenges, market segmentation, competitive landscape, regional and country breakdowns, and strategies for clinical workflow solutions market. The study reviews the global industry by-products or services offered, downstream fields, end using customers, historic data figures regarding revenue and sales, market context, and more.

The report comprises a detailed value chain analysis, which provides a comprehensive view of this market. The Porter’s Five Forces model for the global market has also been included to help understand the competitive landscape. The study covers market attractiveness analysis, wherein resin types are benchmarked based on their market value, growth rate, and general attractiveness.

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Clinical workflow is an interaction between surgeon or physician, health records, patients, nurses or other staff, and third-party applications. Poor integration in workflow may hamper the clinical workflow by making it more essential for clinicians to use same data for multiple applications along with logging into various systems for finding the appropriate information that helps in making crucial clinical decisions. Clinical workflow solution vendors experience high pressure from consumers to introduce seamless and effective solutions that can process more in less time.

Growth Factors

Healthcare service providers constantly face challenges to provide good quality healthcare. Diminishing resources, aging population, and budget constraints are some of the key factors that propel the demand for quality care. In the wake of same, hospitals and medical centers are prominently adopting technology-driven solutions to handle the patient’s information and other workflows more efficiently and effectively. Rapid technological advancement that enables easy adoption as well as reduces complexities in the workflow drives the adoption rate of these solutions at a rapid pace. Furthermore, implementation of cloud-based computing platform to upgrade the clinical database management anticipated to bolster the market growth in the coming years.

Regional Snapshots

In 2019, North America led the global clinical workflow solutions market owing to the increasing geriatric population and rising admission of patients in the hospitals primarily raising the volume of data entry. Furthermore, government initiatives related to the interoperability, effective usage of Electronic Health Record (EHR), and prime focus on patient care fuel the market growth for clinical workflow solutions in the region. For instance, in August 2018, as per the data published by EHR intelligence, the regional government invested USD 38 Billion in healthcare facilities for installing EHR systems through Meaningful Use (MU) program in Medicaid and Medicare since 2011.

On the other hand, the Asia Pacific region predicted to be the fastest growing region in the global clinical workflow solutions market. The region observed a prominent rise in the demand for healthcare IT solutions especially in the medical sector owing to increasing investment from developing countries. Furthermore, favorable initiatives undertaken by the government for improving healthcare infrastructure, rising medical tourism, implementation of eHealth, and the presence of quality healthcare are the key factors that drive the market growth in the region.

Report Highlights

In 2019, North America led the global market due to increasing number of R&D activities on healthcare solutions along with rising number of patient admissions in the hospitals
The Asia Pacific registered the fastest CAGR over the forecast period owing to prominent surge in the demand for healthcare IT solutions in the medical sector
Data integration systems are prominently preferred by the healthcare service providers due to need for integration to curb the rising costs and increasing data volumes.
Care collaboration solution have gained significant traction in the past few years and expected to exhibit escalating demand during the forecast period due to the increased emphasis on the patient-centric services
By end-use segment, hospitals occupied the maximum market share in 2019 due to rising number of healthcare facilities and associated data that require privacy
Ambulatory care centers predicted to register the highest growth over the analysis period due to spike in the out-patient admissions in health centers and integration of IT solutions

Key Players & Strategies

Some of the key market players that captured the maximum revenue share in the clinical workflow solutions market include Hill-Rom Holdings, Inc.; McKesson Corporation; Cisco; NextGen Healthcare Information Systems; Philips Healthcare; AthenaHealth; GE Healthcare Allscripts; Cerner Corporation; and Koninklijke Philips N.V. These players offer licensed software or solutions to the hospitals or healthcare service providers that expected to propel the adoption of clinical workflow solutions.

Significant investment by the key industry participants for developing advanced systems for healthcare management is the key contributor towards the market growth. Further, strategic alliances and development of new products, including their promotional activities, mergers, and partnership agreements are very crucial in maintaining high competition rivalry among the industry players.

In addition, major market players are collaborating with government associations for innovating clinical workflow solutions. For instance, in September 2018, Google and the American Medical Association (AMA) collaborated together to introduce AMA health care interoperability and innovation challenge. Initiatives like these anticipated to foster the demand for clinical workflow solutions over the forecast period.

Some of the key players operating in the market are Cerner Corporation, Allscripts Healthcare Solutions, Inc., NXGN Management, LLC, Koninklijke Philips N.V., McKesson Corporation, Hill-Rom Services Inc., General Electric, Cisco, Stanly Healthcare, ASCOM, Vocera Communications, and athenahealth, Inc. among others.

Segments Covered in the Report:

Market Segment

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

Regional Segment

  • North America (United States, Canada)
  • Europe (Germany, France, UK,  Italy, Russia, and Rest of Europe)
  • Asia-Pacific (China, Japan, India, Southeast Asia, Korea, and Rest of Asia Pacific)
  • Latin America (Brazil and the Rest of Latin America)
  • The Middle East and Africa (GCC, North Africa, South Africa, and Rest of the Middle East & Africa)

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