Fort Collins, Colorado, Feb. 02, 2024 (GLOBE NEWSWIRE) -- The Clinical Workflow Solutions Market was valued at USD 10.4 Billion in 2022 and is anticipated to reach USD 32.7 Billion by 2032 at a CAGR of 12.2%.
The demand for high-quality healthcare systems has been fueled by various factors, such as the increasing initiatives taken by public and private organizations, the standardization of clinical workflow in developed countries like the U.S., and the need to provide clinicians with remote access to data insights and scalability.
Hospitals are incorporating technology-based frameworks to improve their healthcare facilities and cater to the growing demands of both patients and clinicians. This trend is expected to drive the market's growth during the forecast period. The COVID-19 pandemic presented significant challenges to healthcare providers, highlighting the need for remote access to data insights and efficient clinical processes.
The demand for systems that manage clinical workflows is expected to increase due to government initiatives. The Clinical Research, Resilience, Recovery, and Growth (RRG) program, which spans the U.K., to implement "The Future of U.K. Clinical Research Delivery: 2021 to 2022 Implementation Plan." This plan includes measures that aim to enhance the U.K.'s capacity and capability to conduct clinical research by digitizing the delivery of clinical research and speeding up the process of ethical approval and study setup. These initiatives are expected to promote research, encourage funding, boost economic growth, tackle health inequalities, and improve overall health outcomes throughout the U.K., thus expanding the market over the forecast period.
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Segmentation Overview:
The global clinical workflow solutions market has been segmented into product, end-user, and region. The demand for Data Integrations is increasing in the medical sector as it helps collect and analyze patient information from various sources. Hospitals need a robust system to ensure hassle-free service provision to patients with telehealth services and remote patient monitoring systems. Due to growing government data collection, maintenance, and protection regulations, a workflow solution system is necessary.
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Clinical Workflow Solutions Market Report Highlights:
- The global clinical workflow solutions market growth is anticipated at a CAGR of 12.2% by 2032.
- Clinical workflow solutions allow real-time health data to monitor and improve care decisions and outcomes. They help enhance the quality of care, coordination, and patient satisfaction while reducing medication errors. Advancements in IT offer various options like mobile devices, remote monitoring, and EHRs, providing significant opportunities for clinical workflow solution vendors. These solutions also enable patients to monitor their vital signs remotely at home and send the data to a nurse or physician.
- The clinical workflow solutions market in North America, particularly in the United States, is significant. This is because of the region's quick adoption of advanced tools and technologies to improve patient services and optimize operations. The growing number of patient admissions and surgeries, especially among the elderly, generates a large volume of data, leading to a high demand for systems that can manage data and provide faster patient services.
- Some prominent players in the clinical workflow solutions market report include Ascom Holdings Inc., Cisco Systems Inc., GE Healthcare, McKesson Corporation, Getinge AB, Koninklijke Philips N.V., Veradigm Inc., Spok Holdings Inc., NextGen Healthcare, Hill-Rom Holdings Inc., and others.
Industry Trends and Insights:
- Ascom and its consortium partners have been awarded EU funding for their European research project, which focuses on developing a "Smart and Silent ICU."
- Cisco is set to acquire Splunk, which will help organizations operate more securely and become more resilient in a world increasingly powered by artificial intelligence.
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Clinical Workflow Solutions Market Segmentation:
By Product: Data Integration, Real-time Communication Solutions, Workflow Automation Solutions, Care Collaboration Solutions, Enterprise Reporting and Analytics Solutions, and Others
By End-user: Hospitals, Long-term Care Facilities, and Ambulatory Care Centers
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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