Market Snapshot

Clinical Communication and Collaboration Market: By Source, End-User, Application and Region

Market Synopsis:

Global Clinical Communication and Collaboration market is valued at USD 2.1 Billion in 2021 and is projected to attain a value of USD 5.2 Billion by 2028 at a CAGR of 17.5% during the forecast period, 2022–2028. The digital revolution of the healthcare business is predicted to boost the industry's growth. Participating in the digital health ecosystem has allowed healthcare workers to take advantage of new technology and broaden their horizons in new ways. Furthermore, new data-driven technologies are pushing digitization and automation in the healthcare industry. There are a few more variables that are vital in propelling the Clinical Communication and Collaboration market forward, one of which is ongoing medication development for new applications, which is predicted to further propel the Clinical Communication and Collaboration market forward.

Most businesses have been working on the development of Clinical Communication and Collaboration for COVID-19 treatment, the impact of the COVID-19 pandemic on the Clinical Communication and Collaboration market is projected to be enormous. Because most pharmaceutical, biotechnology, and research organisations have been concentrating on the development of cell therapy-based treatment against COVID-19, the impact of COVID-19 is likely to have a beneficial impact on the studied market.

Technology Advancement

Technological advancements have made it easier for healthcare personnel to communicate and coordinate efficiently in recent years. Clinical mobility has helped relieve pressure on the healthcare system by streamlining workflows, increasing patient care, and allowing for more efficient use of scarce resources. Clinical mobility has allowed for the replacement of manual and error-prone procedures with digital solutions that have expedited operations, enhanced patient identification accuracy, and improved patient care quality. By decreasing and eliminating errors, collaboration technologies have aided in digitally capturing information and distributing it in real-time to healthcare professionals.

Due to the rising use of smart devices in hospitals, Clinical Communication and Collaboration solutions have gained popularity. Patients benefit from these devices in a variety of ways, including improved communication with care teams, easier access to medical records, and the ability to complete administrative activities on time. Handheld gadgets and cellphones specifically built for the healthcare ecosystem are used by healthcare workers. These devices prevent device fragmentation, which was a problem in the past when many clinicians used various devices for communication and collaboration, such as pagers and cellphones.

Dearth of Skilled Professionals

Despite technological advancements and product development over the last decade, the market has been hampered by a shortage of skilled workers who can operate sophisticated instruments like flow cytometers and multi-mode readers. Flow cytometers and spectrophotometers, which are technologically modern and very complicated, produce a wide range of data outputs that require skill to analyse and review. There remains, nevertheless, a global demand-supply gap for trained people.

Market Segmentation:

Global Clinical Communication and Collaboration market is segmented on the basis of Deployment into Hosted and On premise. Based on Component into Solution and Services. By End-User into Hospitals, Clinical Labs, Physicians and Others. Based on region, the Clinical Communication and Collaboration market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

North America to Continue Dominating the Clinical Communication and Collaboration Market

North America dominated the Clinical Communication and Collaboration market. The regional market is predicted to develop due to rising healthcare spending in the United States. In order to reach their digital healthcare aim, the majority of hospitals in the United States have installed clinical communication and collaboration technologies. Columbia County Health Systems, for example, has introduced collaboration systems that allow for real-time communication across geographically distributed care teams.

Over the forecast period, Asia Pacific is expected to increase at the fastest rate. The COVID-19 outbreak in Asia Pacific has resulted in a boom in the use of telemedicine platforms and applications. As a result of the COVID-19 pandemic, digital health platforms in Indonesia, Australia, and Singapore have seen a boom in uptake.

Key Players:

Key players operating in the Clinical Communication and Collaboration market are: Spok Inc.; Cerner Corporation; Hill Room Services, Inc.; Vocera Communications; and Cisco Systems Inc.

The Clinical Communication and Collaboration market is segmented as follows:

• Deployment
  • Hosted
  • On-premise

• Component
  • Solution
  • Services

• End Use
  • Hospitals
  • Clinical Labs
  • Physicians
  • Others

• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

The Clinical Communication and Collaboration market scope can be tabulated as below: