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Clinical Workflow Solutions Market Report 2024 - Clinical Workflow Solutions Market Opportunities And Statistics
Clinical Workflow Solutions Market
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According to The Business Research Company's, The clinical workflow solutions market size has grown rapidly in recent years. It will grow from $9.49 billion in 2023 to $11.02 billion in 2024 at a compound annual growth rate (CAGR) of 16.1%. The growth in the historic period can be attributed to growth in healthcare digitalization, electronic health records (ehr), increasing regulatory compliance, increased need for efficiency and productivity, and increased healthcare integration.
The clinical workflow solutions market size is expected to see rapid growth in the next few years. It will grow to $18.82 billion in 2028 at a compound annual growth rate (CAGR) of 14.3%. The growth in the forecast period can be attributed to increasing interoperability and data exchange, telehealth and remote care, value-based care models, growing demand for population health management, and increasing adoption of precision medicine. Major trends in the forecast period include artificial intelligence (ai) in healthcare, technological advancements, innovative solutions, strategic collaborations, and healthcare integration solutions.
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Market Drivers and Trends:
The rising prevalence of diseases is expected to propel the growth of the clinical workflow solutions market going forward. Disease is defined as a condition that impairs the normal functioning of the human body and is manifested by distinct signs and symptoms. Clinical workflows help patients suffering from various diseases by improving the functionality of the healthcare system and offering better healthcare system experiences. For instance, in 2021, according to the International Diabetes Federation, a Belgium-based organization, approximately 537 million adults (20-79 years) were living with diabetes, and the total number of people living with diabetes has been projected to rise to 643 million by 2030 and 783 million by 2045. Therefore, the rising prevalence of diseases is driving the clinical workflow solutions industry.
Rapid technological advancements are a key trend that is gaining popularity in the clinical workflow solutions market. Major companies operating in the market are engaging in technological advancements such as the use of conversational AI in clinical workflow automation along with machine learning to sustain their position in the market. For instance, in May 2022, Mindray, a Chinese medical instrument manufacturer, launched the M-connect IT solution in a hospital in Haryana, India. The new offering is helpful in optimizing clinical workflow and ensuring patient safety. It also features M-Connect IT platform, which helps to digitally connect ICU patients with their doctors.
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Major Key Players of the Market:
Allscripts Healthcare Solutions Inc., Ascom Holding AG, Cerner Corporation, Cisco Systems Inc., GE Healthcare, Hill-Rom Holdings Inc., Infor Inc., Koninklijke Philips NV, Mckesson Corporation, Stanley Black and Decker Inc., NXGN Management LLC, Spok Inc., AMETEK Inc., Vocera Communications Inc., Capsule Technologies Inc., Veradigm Inc., NEXTGEN HEALTHCARE INC., Baxter International Inc., Atenahealth Inc., athenahealth Inc., STANLEY Healthcare, AZURE HEALTHCARE, Gestalt Diagnostics LLC, Xoran Technologies LLC, PatientKeeper, Smart Data Solutions, Inpeco designs lab automation systems, Aiforia Technologies Oyj, Checkit plc, EmOpti, Healthcare Control Systems, Keena Healthcare Technology, Laurel Bridge Software Inc., Medtronic plc, Siemens Healthineers, Becton, Dickinson and Company
Clinical Workflow Solutions Market 2024 Key Insights:
• The clinical workflow solutions market size is expected to see rapid growth in the next few years. It will grow to $18.82 billion in 2028 at a compound annual growth rate (CAGR) of 14.3%.
• Surging Disease Prevalence Drives Clinical Workflow Solutions Market Growth
• Rapid Technological Advancements Drive Clinical Workflow Solutions Market
• North America was the largest region in the clinical workflow solutions market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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