|
Clinical Communication & Collaboration Market Worth $4.8 billion | MarketsandMarkets(TM)
Wednesday, April 17, 2024
CHICAGO , April 9, 2024 /PRNewswire/ -- Clinical Communication & Collaboration Market in terms of revenue was estimated to be worth $2.6 billion in 2024 and is poised to reach $4.8 billion by 2029, growing at a CAGR of 13.2% from 2024 to 2029 according to a new report by MarketsandMarkets(TM).
https://mma.prnewswire.com/media/2297424/MarketsandMarkets_Logo.jpg
The growth in the clinical communication and collaboration market is driven by high prevalence of chronic diseases, rising prominence of big data and mHelath tools, and stringent regulatory requirements and industry standards. Moreover, transition towards value-based care and population health management further increases the significance of clinical communication and collaboration solutions. Thus, the the growing emphasis on interoperability and data exchange within healthcare ecosystems is expected to drive the integration of clinical communication and collaboration market during the forecast period.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=118830286
Browse in-depth TOC on "Clinical Communication & Collaboration Market"
240 - Tables
50 - Figures
320 - Pages
Clinical Communication & Collaboration Market Scope:
Report Coverage
Details
Market Revenue in 2024
$2.6 billion
Estimated Value by 2029
$4.8 billion
Growth Rate Poised to grow at a CAGR of 13.2%
Market Size Available
for
2022-2029
Forecast Period
2024-2029
Forecast Units
Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Platform, Component, Deployment, Application, and End user
Geographies Covered North America, Europe, Asia Pacific, Latin America, and Middle East
Africa
Report Highlights Updated financial information /product portfolio of players
Key Market Opportunities
Growing opportunities in emerging markets
Key Market Drivers Advantages of clinical communication solutions in enhancing patient
care and safety
Software segment accounted for the largest share of the global Clinical Communication and Collaboration market in 2023.
On the basis component, the Clinical Communication and Collaboration market is segmented into hardware, software and services segment. The software segment accounted for the largest share of the component segment in 2023. The software segment comprises of clinical alerting & notification, physician & nurse scheduling systems, telehealth platform, collaborative care platforms. The clinical alerting & notification segment held the largest market share in the software segment. These systems plays a pivotal role in enhancing patient safety, as it reduces response times, and improves clinical decision-making. Moreover, the increasing focus on care coordination and continuity across healthcare settings has propelled the demand for robust clinical alerting and notification solutions. Owing to the many benefits of the software solutions, several healthcare providers are increasingly adopting these solutions for smooth workflows and enhanced quality care.
By application, physician communication segment accounted for the largest market share in 2023.
Based on application, the Clinical Communication and Collaboration market is segmented into lab & radiology communication, nurse communication, patient communication & emergency alerts, physician communication. The physician communication segment held the largest market in 2023 due to its pivotal role in facilitating effective care delivery, and enhancing care coordination. Moreover, the unique communication needs of physicians, including the requirement for secure and confidential communication channels, further highlights the importance of dedicated physician communication solutions within the clinical communication and collaboration market. These solutions offer encrypted messaging, secure voice and video calling, and other advanced features tailored to the specific requirements of healthcare providers, enabling them to communicate effectively while adhering to stringent privacy and security regulations.
Hospitals & clinics are largest end users of the Clinical Communication and Collaboration market
Based on end users, the Clinical Communication and Collaboration market is segmented into hospitals & clinics, ambulatory surgical centers, long-term care facilities, nursing centers and other end-users which includes maternity care centers & fertility centers, and trauma and emergency care centers. The hospitals & clinics held the largest share among the end-users in 2023. From emergency departments and operating rooms to inpatient units and outpatient clinics, healthcare providers in hospitals and clinics rely heavily on effective communication channels to coordinate care plans, consult with colleagues, and ensure continuity of care for patients. As healthcare organizations continue to prioritize communication solutions that enhances care coordination, streamlines workflows, and support remote care delivery, hospitals and clinics are poised to remain key drivers of innovation and growth in the clinical communication and collaboration market.
North America dominates the global Clinical Communication and Collaboration market.
The Clinical Communication and Collaboration market is segmented into five major regional segments, namely, North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2023, North America accounted for the largest share of the Clinical Communication and Collaboration market. This region's dominance is due to highly developed healthcare infrastructure characterized by advanced technology adoption, robust regulatory frameworks, and a strong emphasis on patient-centric care delivery. Moreover, the presence of key market players such as Avaya LLC (US), Oracle (US), Cisco Systems, Inc. (US), Microsoft Corporation (US) among others are a key factor contributing to the growth of the region.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=118830286
Clinical Communication & Collaboration Market Dynamics:
Drivers:
1. Advantages of clinical communication solutions in enhancing patient care
and safety
Restraints:
1. High investments required to build IT infrastructure
Opportunities:
1. Growing opportunities in emerging markets
Challenge:
1. Data security issues
Key Market Players of Clinical Communication & Collaboration Industry:
Prominent players in the Clinical Communication and Collaboration market include Avaya LLC (US), Oracle (US), Cisco Systems, Inc. (US), Microsoft Corporation (US), Baxter International (Hillrom) (US), symplr (US), NEC Corporation (Japan), Spok Inc. (US), Vocera Communications (Stryker) (US), Ascom Holding AG (Switzerland), Everbridge (US), Hidden Brains InfoTech. (India), Imprivata, Inc. (US), CommuniCare Technology, Inc. d/b/a Pulsara (US), Mobile Heartbeat (C-HCA, Inc.) (US), OnPage. (US), HARRIS ONPOINT (US), Jive Software, LLC (US), TigerConnect (US), JCT Healthcare Pty Ltd. (Australia), Amplion (US), AndorHealth (US), PerfectServe, Inc. (US), QliqSOFT, Inc. (US), and Connexall, GlobeStar Systems Inc. (Canada).
Breakdown of supply-side primary interviews, by company type, designation, and region:
-- By Company Type: Tier 1 (40%), Tier 2 (35%), and Tier 3 (25%)
-- By Designation: C-level (35%), Director-level (45%), and Others (20%)
-- By Region: North America (55%), Europe (20%), Asia Pacific (15%), Latin
America (5%) and Middle East Africa (5%)
Recent Developments of Clinical Communication & Collaboration Industry:
-- In September 2023, Microsoft Corporation (US) collaborated with Mercy
(US) to enable clinicians to revolutionize patient care through the use
of generative AI.
-- In August 2023, TeleVox (US) partnered with Oracle (US) to enhance its
patient engagement solutions, leveraging OCI's platform for improved
communication in healthcare. As part of the Oracle PartnerNetwork (OPN),
TeleVox on OCI delivers advanced capabilities for healthcare practices.
-- In April 2023, Mobile Heartbeat (US) partnered with Akkadian Labs, LLC.
(US) a leading developer of unified communications (UC) provisioning
automation solutions. With this partnership, Mobile Heartbeat and
Akkadian Labs aim to empower healthcare organizations with enhanced
communication and collaboration capabilities, ultimately improving
patient care outcomes.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=118830286
Clinical Communication & Collaboration Market - Key Benefits of Buying the Report:
This report studies the Clinical Communication and Collaboration market based on components, application, end user, and region. The report also analyses factors (such as drivers, opportunities and challenges) affecting market growth. It evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. The report also studies micro markets with respect to their growth trends, prospects, and contributions to the total Clinical Communication and Collaboration market. The report forecasts the revenue of the market segments with respect to five major regions.
Reasons to Buy the Report
This report also includes
-- Analysis of key drivers ( Advantages of clinical communication solutions
in enhancing patient care and safety, high prevalence of chronic
diseases, growing geriatric population, need for cost-containment in
healthcare delivery, rising prominence of big data and mHelath tools),
restrains (lack of interoperability, high investment required to build
infrastructure), challenges (lack of knowledge among traditional
healthcare providers, data security issues), opportunities (rising
demand for HCIT globally, growing adoption of EHR) are contributing the
growth of the Clinical Communication and Collaboration market.
-- Product Development/Innovation: Detailed insights on upcoming trends,
research & development activities, and new software launches in the
Clinical Communication and Collaboration market.
-- Market Development: Comprehensive information on the lucrative emerging
markets, components, application, end-user, and region.
-- Market Diversification: Exhaustive information about the software
portfolios, growing geographies, recent developments, investments in the
Clinical Communication and Collaboration market.
-- Competitive Assessment: In-depth assessment of market shares, growth
strategies, product offerings, company evaluation quadrant, and
capabilities of leading players in the global Clinical Communication and
Collaboration Market.
Related Reports:
Clinical Trials Market - Global Forecasts to 2028
Mass Spectrometry Market - Global Forecasts to 2028
Biobanking Market - Global Forecasts to 2028
Life Science Instrumentation Market - Global Forecasts to 2028
eClinical Solutions Market - Global Forecasts to 2027
About MarketsandMarkets(TM):
MarketsandMarkets(TM) has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets(TM) is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore(TM) (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets(TM).com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets(TM) INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/clinical-communication-collaboration-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/clinical-communication-collaboration.asp
Logo: https://mma.prnewswire.com/media/2297424/MarketsandMarkets_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/clinical-communication--collaboration-market-worth-4-8-billion--marketsandmarkets-302110826.html
SOURCE MarketsandMarkets
|
|
|
|
|
|
 |
Weekly Recap: 12 Press Releases You Might Have Missed | Jul 26, 2024
|
|
Risk Management Software Market size is set to grow by USD 11.05 billion from 2024-2028, Increase in data and security breaches among enterprises boost the market, Technavio | Jul 26, 2024
|
|
Digital Health Market size is set to grow by USD 1.06 billion from 2024-2028, Increase in the number of M and A activities in the market boost the market, Technavio | Jul 26, 2024
|
|
Simulation And Analysis Software Market size is set to grow by USD 10.92 billion from 2024-2028, Growing demand for simulation and analysis software boost the market, Technavio | Jul 26, 2024
|
|
Vijil Emerges from Stealth with Seed Funding from Mayfield and Gradient Ventures to Help Enterprises Build Generative AI Agents That They Can Trust | Jul 26, 2024
|
|
Smart Healthcare Market size is set to grow by USD 115.39 billion from 2023-2027, Growing demand for remote health monitoring to boost the market growth, Technavio | Jul 26, 2024
|
|
Purism Announcing MiMi Robot Crowdfunding Campaign | Jul 26, 2024
|
|
Data Center Market size is set to grow by USD 434.8 billionn from 2024-2028, Rise in adoption of multi-cloud and network upgrades to support 5G to boost the market growth, Technavio | Jul 26, 2024
|
|
Virtual Internet Announces Virtual 5G Express for Microsoft | Jul 26, 2024
|
|
Raynet is positioned as a Leader in the 2024 SPARK MatrixTM for Unified Endpoint Management (UEM) by Quadrant Knowledge Solutions | Jul 26, 2024
|
|
|
|
