The clinical communication and collaboration market was valued at USD 1.33 billion in 2019. The market is projected to expand at a CAGR of 17.9% during the forecast period, 2021 – 2028. The growth of the market is attributed to digital revolution in the healthcare sector.
Clinical communication and collaboration are a safe messaging platform that integrates with clinical systems to improve workflow for nurses, physicians, and other team members through desktop or smartphone applications. These applications have benefits for patients, such as the ability to connect with the care team effectively and gain access to medical records.
Market Trends, Drivers, Restraints, and Opportunities:
- Involvement in digital health network has benefited healthcare professionals to grow in new directions and develop new technologies.
- New technologies are encouraging digitization and automation across the healthcare sector. This in turn, is increasing the demand for CC&C.
- Alliance tools have helped in digitally capturing the information and transferring the data in real time to healthcare staff by minimizing the errors. This factor is estimated to expand the CC&C market.
- Clinical communication and collaboration systems have gained importance, due to rising usage of smart devices in healthcare centers.
- Efforts are being made in Artificial intelligence (AI)-led telemedicine services to improve healthcare services.
- AI-led telemedicine is used to reduce the waiting time in hospitals and find specialists quickly for telemedicine patients.
Market Segment Insights:
The solution segment held more than 60% share of the total revenue in 2019
Based on components, the clinical communication and collaboration market is bifurcated into solution and service. The clinical communication and collaboration systems collect information of patient data, bed management systems, and telemetry by location for immediate response during critical situations. Moreover, in COVID-19 situation, organizations such as Cerner Corporation have developed certain updates that inform providers when a patient is at risk. Solution providers are merging IoT with alliance solutions to enhance patient care and operational efficiency. IoT in healthcare sector uses applications such as wearables, smart devices, and beacons to help patients follow their care programs. With the help of Bluetooth beacons and mobile phones, clinics help patients and visitors to find their way in large campuses.
The on-premise segment held around 54% share of the total revenue in 2019
On the basis of deployments, the clinical communication and collaboration market is segregated as cloud-based and on-premise. The on-premise segment is anticipated to hold a major share of the total revenue. Hospitals have developed IT infrastructure to meet rising demand for data. At the beginning, healthcare organizations were not ready to opt for cloud-based deployment and were in the favor of the on-premise segment. But the demand for the on-premise segment is estimated to decline during the forecast period, attributed to high maintenance costs.
The hospital segment held a major share of more than 50% of the total revenue share in 2019
In terms of end-users, the clinical communication and collaboration market is fragmented as hospitals, clinics, and others. The hospital segment is expected to expand at a rapid pace during the forecast period. Rising COVID-19 cases have made hospitals realize the importance of contactless communication and collaboration. For instance, Microsoft Corporation has offered the UK, National Health Service (NHS) staff to use Microsoft and communicate efficiently and quickly.
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