Global Clinical Workflow Solutions Market Analysis Report 2023: A $24.37 Billion Market by 2030 - AI-Assisted Technology Redefining Healthcare with Error Reduction and Decision Support
The global clinical workflow solutions market size is estimated to reach USD 24.37 billion by 2030, growing at a CAGR of 12.4%
Clinical process automation is on the rise, with a particularly significant impact seen in developed nations like the U.S. Healthcare is witnessing a transformation propelled by initiatives from both public and commercial organizations.
The demand for scalable healthcare systems is further fueled by the necessity to provide clinicians with remote access to critical data insights. Notably, a survey conducted in March 2023 revealed that over 30% of U.S. hospitals, health systems, and transplant centers have already integrated Clinical Workflow Automation (CWA), and this figure is expected to soar to 61% by 2024.
Moreover, almost half of the organizations implementing CWA aim to extend its application to more clinical settings by 2023. This growth trajectory is driven by the misconception among some respondents that their existing Electronic Health Record (EHR) vendors or basic software programs can deliver CWA functionalities. The adoption of CWA is poised to continue expanding as public awareness and understanding of its capabilities increase.
The healthcare sector, especially healthcare providers, has encountered significant challenges during the COVID-19 pandemic, underlining the critical need for remote access to data insights and efficient clinical processes. Consequently, companies are expanding their horizons and pursuing strategic acquisitions to diversify and align their product portfolios.
For example, Fortive's USD 1.4 billion acquisition of Provation in December 2021 enhances its position in vital workflow solutions for hospitals and ambulatory surgical centers, aligning with the Advanced Healthcare Solutions (AHS) segment.
To maintain a competitive edge, market players are actively investing in the development and introduction of innovative products. bioMerieux's launch of MAESTRIA in February 2023 is a notable example. MAESTRIA, a state-of-the-art middleware solution for clinical microbiology laboratories, streamlines daily operations and enhances operational efficiency by managing workflow tasks.
This strategic move underscores the commitment of market competitors to deliver comprehensive, innovative solutions that meet the evolving needs of clinical laboratories.
Additionally, the market is witnessing growth driven by the increasing demand for AI-assisted technology, renowned for error reduction and clinical decision support.
This trend is expected to persist with the introduction and adoption of further AI-assisted technologies. For instance, ConcertAI's TeraRecon unveiled TeraRecon Neuro in October 2022, an AI-assisted clinical workflow solution designed to address time-critical neurovascular emergencies for the entire care team.
Based on type, the data integration solutions category dominated the market with a share of 26.53% in 2022. Owing to the increasing amounts of data and the demand for integrated solutions to lower escalating costs, healthcare providers have chosen data integration technologies
Based on end-use, the hospitals segment led the market with a revenue share of 44.9% in 2022. This is attributed to the extensive use of clinical workflow solutions in hospitals and the increased number of healthcare institutions requiring efficient data management and privacy protection
The North America region dominated the market with a revenue share of 41.84% in 2022. The increasing R&D activities and hospital patient admission lead to a high volume of data generated and increasing government initiatives regarding the effective usage of interoperability provide the market with the largest revenue contribution
Several companies are actively collaborating to promote innovation in workflow solutions. For instance, Innovaccer and Roche announced a collaboration to provide clinical decision support and workflow solutions in September 2021. Such collaborations are critical in driving the market acceptance and development of efficient workflow solutions
Company Profiles
Veradigm Inc. (formerly Allscripts Healthcare Solutions, Inc.)
Cerner Corporation (acquired by Oracle Corporation)
NXGN Management, LLC
McKesson Corporation
Koninklijke Philips N.V.
Cisco Systems, Inc.
Getinge AB.Cisco
Vocera Communications, Inc.
Spok Inc.
AMETEK, Inc.
Key Topics Covered:
Chapter 1. Methodology and Scope 1.1. Information Procurement 1.2. Information or Data Analysis 1.3. Market Scope & Segment Definition 1.4. Market Model
Chapter 3. Market Variables, Trends, & Scope 3.1. Market Lineage Outlook 3.1.1. Parent Market Outlook 3.1.2. Related/Ancillary Market Outlook 3.2. Market Dynamics 3.2.1. Market Driver Analysis 3.2.1.1. Increasing patient volume due to the rising prevalence of diseases 3.2.1.2. Increasing government initiatives for the adoption of clinical workflow solutions 3.2.2. Market Restraint Analysis 3.2.2.1. Data privacy and security concerns 3.2.2.2. High cost of Clinical workflow management systems 3.3. Industry Analysis Tools 3.3.1. Porter's Five Forces Analysis 3.3.2. PESTEL Analysis 3.3.3. COVID-19 Impact Analysis
Chapter 4. Type Business Analysis 4.1. Clinical Workflow Solutions Market: Type Movement Analysis 4.2. Data integration solution 4.2.1. Data integration solution Market, 2018 - 2030 (USD Million) 4.2.2. EMR integration solutions Market, 2018 - 2030 (USD Million) 4.2.3. Medical Image Integration Solutions/imaging workflow solutions Market, 2018 - 2030 (USD Million) 4.3. Real time communication solution 4.3.1. Real time communication solution Market, 2018 - 2030 (USD Million) 4.3.2. Nurse Call Alert Systems Market, 2018 - 2030 (USD Million) 4.3.3. Unified Communication Solutions Market, 2018 - 2030 (USD Million) 4.4. Workflow automation solution 4.4.1. Workflow automation solution Market, 2018 - 2030 (USD Million) 4.4.2. Patient Flow Management Solutions Market, 2018 - 2030 (USD Million) 4.4.3. Nursing & Staff Scheduling Solutions Market, 2018 - 2030 (USD Million) 4.5. Care collaboration solution 4.5.1. Care collaboration solution Market, 2018 - 2030 (USD Million) 4.5.2. Medication Administration Solutions Market, 2018 - 2030 (USD Million) 4.5.3. Perinatal Care Management Solutions Market, 2018 - 2030 (USD Million) 4.5.4. Rounding Solutions Market, 2018 - 2030 (USD Million) 4.5.5. Other Care Collaboration Solutions Market, 2018 - 2030 (USD Million) 4.6. Enterprise reporting and analytics solution 4.6.1. Enterprise reporting and analytics solution market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 5. End-Use Business Analysis 5.1. Clinical Workflow Solutions Market: End-Use Movement Analysis 5.2. Hospitals 5.3. Long-term care facilities 5.4. Ambulatory care centers
Chapter 6. Regional Business Analysis 6.1. Clinical Workflow Solutions Market Share By Region, 2022 & 2030
Chapter 7. Competitive Landscape 7.1. Company Categorization 7.2. Strategy Mapping 7.3. Company Market Share Analysis, 2022
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