Market Research Report
Clinical Workflow Solutions Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||850167|
|Published||Content info||111 Pages
Delivery time: 2-3 business days
|Clinical Workflow Solutions Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: February 1, 2019||Content info: 111 Pages||
The global clinical workflow solutions market was valued at USD 7.23 billion in 2018, and is estimated to be valued at approximately USD 14 billion in 2024, witnessing a CAGR of 11.6%. Factors that are driving the market growth include the increase in demand to curtail healthcare costs and the increasing patient volume, due to the rising prevalence of chronic diseases. Additionally, the implementation of clinical workflow solutions enhances patient care and safety, and along with the government initiatives for HCIT adoption, are driving the growth of the market.
Clinical workflow solutions refer to software solutions that assist in enhancing diagnostic confidence, by combining imaging silos, streamlining workflows, and enabling collaboration. Additionally, these worflow solutions also assist in the monitoring of workflow through analytics and surveillance reporting.
Data Integration Solutions Led the Product Segment in 2018
Based on the product type segment, the largest share of the market in 2018 was led by the data integration solutions sub-segment. The large share of this sub-segment was primarily due to the rising demand for proper management and storage solutions that are capable of managing the increasing volume of medical records. Additionally, increasing government incentives to increase digitization in healthcare and the necessity to contain healthcare costs are contributing toward the market growth.
The South American Region is Expected to Register the Highest CAGR
Increasing government initiatives for eHealth, subsequent improvements in the healthcare infrastructure, rising medical tourism, and increasing demand for quality healthcare in emerging countries, are the factors driving the growth of the South American clinical workflow solutions market. The population growth and efforts to improve the quality of care, implementation of favorable government initiatives, strategies to digitalize the country in every sector by using IT infrastructure, and the increasing awareness about the benefits of clinical workflow solutions are driving the growth of this regional segment.
The clinical workflow solutions market is highly competitive and consists of large players with an international presence. The majority of the players are based out of the United States, while a handful of other leading players are based out of Europe.