Clinical Workflow Solution Market is Anticipated to Witness Considerable Growth by 2026

16/feb/2021 13:13:03 Grand View Research Contatta l'autore

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Clinical workflow solutions assist medical and healthcare organizations in the effective and efficient management of the flow of work that includes every technology, activity, environment, and human resource in the setup. With the continued strain on the healthcare resources around the globe, which has been affected further by the COVID-19 pandemic, the use of clinical workflow solutions becomes more critical to ensure proper functioning of these institutes.

The global clinical workflow solutions market size is projected to become USD 15.2 billion by 2026, expanding at a CAGR of 12.3%, as per a report by Grand View Research, Inc. The increasing volume of patient health information on account of the growing prevalence of chronic disorders, coupled with the high demand for better quality of healthcare services by patients, is expected to fuel adoption of workflow software and services in the healthcare setup. Organizations are swiftly moving towards data-centric approaches in order to better serve the patients, while also helping in making informed and timely decisions, thus enhancing the demand for technology-driven solutions.

The interoperability and compatibility of the systems with different platforms due to their robust technology has enhanced the growth prospects for the market. Collaborative efforts by software developers along with the researchers to make healthcare information available to users are projected to contribute towards lucrative market growth over the forecast period. The current outbreak of the coronavirus pandemic has had a heavy impact on medical institutions, on a much greater extent in the United States and Western Europe. As such, organizations are teaming up with government agencies to manage areas such as patient flow, as well the scheduling of nursing and hospital staff, so as not to overburden the resources.

The clinical workflow solutions market is broadly classified on the basis of solution type and end-use. In terms of type, the market is segmented into: data integration solutions, which comprises of EMR integration and medical image integration; real-time communication solutions, consisting of nurse call alert systems and unified communication; workflow automation solutions, which includes patient flow management and nursing and staff scheduling; care collaboration solutions; and enterprise reporting & analytics solutions. With regards to end-use, the market consists of hospitals, long-term care facilities, and ambulatory care centers. Key global players include McKesson Corporation, Hill-Rom

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Further key findings from the study suggest: 

·       The continued focus on developing an integrated software solution to avoid wrong medication and thus improve the quality of care is expected to fuel the adoption of clinical workflow solutions in the coming years.

·       With regards to solution, the data integration segment held the largest share of clinical workflow solution market revenue in 2018, while the care collaboration service segment is poised to witness notable growth due to rapid adoption by caregivers.

·       The hospital segment led the market in terms of revenue in 2018, owing to supportive government policies, growing awareness, and increasing number of training programs for technological implementation

·       With the advent of cloud-based computing, organizations have found it convenient to store and retrieve critical data, which is expected to incentivize market growth in the near future

·       As per Healthcare Information and Management Systems Society (HIMSS) data from 2019, Electronic Health Records (EHR) has been adopted by more than 60% of the hospitals

·       North America dominated the clinical workflow management system market in 2018, on account of the robust healthcare infrastructure as well as presence of key market players in the region, particularly the United States

·       On the other hand, Asia Pacific is projected to witness lucrative growth in the coming years, due to factors such as supportive government initiatives to adopt eHealth services by hospitals, and continued efforts to improve healthcare infrastructure in the region

·       Key market players such as Allscripts, NextGen Healthcare, McKesson Corporation, Athenahealth, Cerner Corporation, and Koninklijke Philips N.V. are focusing on strategies such as tie-ups with healthcare organizations, as well as launch of new services, in order to gain ground over competitors

·       For example, NextGen Healthcare announced in November 2020 that it’s NextGen Enterprise solution had been selected by the Orthopedic & Sports Medicine Center in Kansas in the areas of EHR and practice management (PM)

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