Hospitals and medical centers are in the process of integrating workflows of repetitive documentation, administrative & medical staff management as well as easy access to the patient’s administrative and clinical data in all the departments. Furthermore, multi modal hospitals require sharing of data with their branch offices, in order of this usage of interoperable quality solutions are raising. An increase in demand for patient-centered care delivery and improved clinician productivity from caregivers has prominently bolstered the demand for clinical workflow systems.
The significance of clinical workflow management system has been recognized across numerous entities including private and public sectors. In addition, clinical centers are undertaking initiatives for stimulating the integration and installation of Electronic Health Record (EHR) and clinical decision support solution. This, in turn, anticipated to positively impact the market for clinical workflow solutions by inspiring hospitals to implement these services
| ATTRIBUTE | DETAILS |
| Study period | 2020-2029 |
| Base year | 2021 |
| Estimated year | 2022 |
| Forecasted year | 2022-2029 |
| Historical period | 2018-2020 |
| Unit | Value (USD Billion) |
| Segmentation | by type, by end user, by region |
| By Type |
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| By End User |
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| By Region |
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Organizations face many challenges in dealing with rapidly increasing data sources as their customer base grows and expands into new geographies and markets. Organizations are beginning to realize the benefits of fully leveraging big data and are investing in big data technologies, including clinical workflow solutions, as a result of their adoption of big data technologies. Hence, increasing demand for big data analytics is driving the growth of the clinical workflow solutions market during the forecast period.
Seeking more engaging, smooth and effective ways to improve patient outcomes and safety, healthcare companies are increasingly turning to clinical workflow solutions. This is because these solutions enable a continuous flow of real-time health data, leading to more informed care decisions and outcomes. Clinical workflow solutions offer features that help improve quality of care, coordination of care, and overall patient satisfaction while reducing the risk of medication errors and adverse drug events, and their use will continue for years to come.
The overall impact of COVID-19 on the clinical workflow solutions market remains positive. This is due to the growing demand for evidence-based workflows in healthcare. Additionally, increasing innovation in clinical workflow solutions and services, growing demand for telemedicine, and the need to maintain patient medical records are fueling the market growth. For example, when the COVID-19 pandemic began, the use of telemedicine surged as consumers and providers sought ways to access and deliver care safely. In April 2020, the overall use of telemedicine for doctor visits and outpatient care was 78 times higher than in February 2020.
The Clinical workflow solutions market is expected to grow at 12.6% CAGR from 2022 to 2029. It is expected to reach above USD 21.34 billion by 2029 from USD 7.34 billion in 2020.
North America held more than 41% of the Clinical workflow solutions market revenue share in 2021 and will witness expansion in the forecast period.
Organizations face many challenges in dealing with rapidly increasing data sources as their customer base grows and expands into new geographies and markets. Organizations are beginning to realize the benefits of fully leveraging big data and are investing in big data technologies, including clinical workflow solutions, as a result of their adoption of big data technologies.
The major key players of market 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.
North America accounted for 41% market share in 2021. This is due to increased R&D activity on healthcare solutions and increased patient admissions to hospitals, resulting in an increased amount of data being generated, driving market growth. Additionally, increasing spending on digitization of healthcare to ensure information sharing within organizations is supporting the growth of clinical workflow solutions in the region.
The clinical workflow solutions market is segmented based on By Type, By End User, and Region, Global trends and forecast.
By type, the data integration solutions segment accounted for more than 26.4% of revenue in 2021. Data integration systems are clearly preferred by healthcare providers due to the need for integration to contain increasing costs and data volumes. Hospitals and other types of caregivers are actively adopting integrated systems that allow clients to access patient information during care delivery. This droves the growth of the data integration system market in 2019. Factors such as regulatory reforms and requirements, interoperability solutions, increasing adoption of electronic medical records, and shifting focus to value-based services are boosting the growth of this segment. Care collaboration solutions have gained a lot of attention over the past few years and are expected to grow in demand during the forecast period. This is due to the increasing emphasis on patient-centered services. The increasing number of patients worldwide is also influencing market players to develop more effective and efficient solutions. Care management solutions provide effective workflow methods to improve patient care and save costs and time.
Based on end user, Hospitals will hold the largest market share of 46% for clinical workflow solutions in 2021 as the number of healthcare facilities and associated data requiring effective management and data protection is increasing. In addition, various regional government-backed initiatives to simplify and improve data processing capabilities in the healthcare sector are expected to boost the market growth of the segment. For example, according to 2019 statistics from the Healthcare Information and Management Systems Society (HIMSS), over 60% of hospitals have adopted his EHR technology. Additionally, the West Health Institute (WHI) says that increased adoption of interoperable solutions could significantly reduce healthcare costs in the United States.
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The Clinical workflow solutions market by region includes North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA).
Based on regional analysis, North America accounted for 41% market share in 2021. This is due to increased R&D activity on healthcare solutions and increased patient admissions to hospitals, resulting in an increased amount of data being generated, driving market growth. Additionally, increasing spending on digitization of healthcare to ensure information sharing within organizations is supporting the growth of clinical workflow solutions in the region. Moreover, Asia-Pacific recorded the fastest CAGR of 14% for healthcare IT solutions in the medical sector during the forecast period, owing to a significant increase in demand. In addition, government support for increasing medical tourism, implementation of e-health, high demand for quality healthcare, and improvement of healthcare infrastructure are key factors supporting the growth of the market in the region.
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