Market Snapshot:
Healthcare Industry is heavily regulated and poses unique challenges for healthcare marketers with the advancement in technology in Healthcare; there is a need for solutions that can efficiently provide patient care and safety. A Clinical Workflow Solution refers to the delivery of clinical services thereby enhancing patient care and safety. This service effectively addresses patient safety in order to address the increasing management and storage solutions for rising medical records. Increasing deployment of patient flow management solutions among hospitals and HCIT (Health care IT expert) are driving the Global Clinical Workflow solutions market.
Segment Analysis
AMA Research have segmented the market of Global Clinical Workflow Solution market by Type, Application and Region. On the basis of Type, Data Integration are dominating the market in the year 2020
On the basis of geography, the market of Clinical Workflow Solution has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020.
Market Trend
Increasing patient population and rising awareness of clinical workflow solutions among emerging countries.
Market Drivers
Increasing need to limit restricted healthcare costs, Rising patient’s volume due to the high occurrence of chronic diseases and Government initiatives for the adoption of Health care IT expert (HCIT) who provides consultancy, training and project implementation in Healthcare and Healthcare Informatics.
Opportunities
Low doctor to patient’s ratio leading to high dependency on HCIT solutions and emerging strategies for health care services in the market.
Restraints
- The need of high initial investments in IT infrastructure
- Issues related to different information technology systems and software applications to communicate, exchange data, and use the information that has been exchanged.
In addition to the aforementioned factor, Increasing need to limit restricted healthcare costs
is expected to propel the growth of the market over the forecast period.
Competitive Landscape
The market is fragmented by the global key players who are tapping into innovative ways to leverage the latest technology without risking compliance and also the implementation of government initiatives to adopt HCIT solutions is a favorable step for these market players. The players are also focusing on increasing their presence in the high-growth markets through both organic as well as inorganic growth strategies such as product launches, acquisitions, partnerships, agreements, collaborations, and expansions.
The key Players profiled in the study are Hill-Rom Holdings, Inc. (United States), Ascom Holding AG (Switzerland), GE Healthcare (United States), Koninklijke Philips N.V (Netherlands), Cisco Systems, Inc. (United States), Stanley Black & Decker, Inc. (United States), Cerner Corp. (United States) and Infor, Inc. (United States). A lot of United States players are profiled in the research study indicating a strong market dependence.