Clinical workflow solutions Market Expected to Reach $29.3 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Clinical workflow solutions Market," The Clinical Workflow Solutions Market Size was valued at $9.6 billion in 2021, and is estimated to reach $29.3 billion by 2031, growing at a CAGR of 11.8% from 2022 to 2031. 

Clinical Workflow focuses on how processes are carried out in both administrative and operational manner, with the ultimate goal of streamlining the process and providing patients with the best health experience possible. Clinical Workflow aims to improve the functionality of the healthcare system. It essentially depicts a chain of connected activities that occur in a therapeutic setting, carried out by various professionals at various levels, either simultaneously or sequentially, all with the same end in mind. Clinical workflow entails having a predictable pattern, minimizing errors & problems, and having the ability to retrieve the patient's clinical history in a practical & optimal manner.

The key factors that drive the Clinical Workflow Solutions Market Growth are rise in the prevalence of cancer and chronic diseases. Moreover, the surge in geriatric population, the increase in adoption of technologically advanced clinical workflow solutions, and the rise in investments in R&D propel the growth of the clinical workflow solution market. For instance, in January 2022, Wolters Kluwer Health launched Ovid Synthesis, a new suite of applications to power highly effective evidence-based workflows in the healthcare setting that complement Ovid’s premium medical content. The first Ovid Synthesis module, Clinical Evidence Manager, is a cloud-based workflow management solution that offers healthcare organizations a unique, centralized dashboard view of all quality improvement (QI) research projects for easier tracking and collaboration among teams to ensure new clinical practice improvements are based on the latest medical evidence.

However, the mandate of a well-developed IT infrastructure, high investments and optimum coordination to develop an interoperable platform for the utilization of data are the factors hindering the growth in the market. Furthermore, low doctor-to-patient ratio would result into the integration of healthcare IT solutions which would create an opportunity to the target market.

On the basis of product, the clinical workflow solution market is segmented into data integration, real-time communication solution, workflow automation solution, care collaboration solution and enterprise reporting and analytics solution. In 2021, the data integration segment accounted for the largest Clinical Workflow Solutions Market Share. The dominance of this segment can be attributed to the rise in the prevalence of chronic and autoimmune disorders and increase in adoption of artificial intelligence-based data integration solutions by pharma companies to collect data for better understanding of drug performance and differentiation at multiple level to generate hypothesis or comparison about that particular therapy or drug propels the growth of the market.

On the basis of delivery mode, the market is segmented into cloud based and on-premise, the cloud-based segment exhibited the highest growth in 2021, and is anticipated to lead during the forecast period, owing to the fact that cloud-based solutions offer healthcare providers the agility to modify their care delivery models, and share information with more flexibility. Moreover, cloud adoption helps provide a scalable infrastructure that allows healthcare organizations to scale their IT deployments up or down according to care delivery needs are the key factors that drives the growth of market in upcoming years.

By end, user the Clinical Workflow Solutions Industry is segmented into hospitals, long-term care facilities, and ambulatory care centers, the hospital segment exhibited the highest growth in 2021, and is anticipated to lead during the forecast period, owing to the rise in the prevalence of the chronic disease across the world has increased the demand of clinical workflow solution in hospitals to track, store, and easily access patients’ medical records are the key factors which drive the growth of the market in the upcoming year.

North America accounted for a majority of the clinical workflow solution market share in 2021 and is anticipated to remain dominant during the forecast period owing to the high adoption of technologically advanced medical devices to provide a real-time communication system, data integration facilities, increase in the healthcare expenditure, and presence of major key players in the country & the strategies they adopt to provide workflow automation solutions.

Asia-Pacific was the second largest contributor to the market in 2021, and is expected to register the fastest CAGR during the forecast period. The market growth in Asia-Pacific is supplemented by the growing demand for patient care & monitoring software devices, healthcare reforms, highly populated countries along with high birth rate, and high prevalence of chronic diseases. In addition, the increasing patient awareness and presence of high unmet needs in these nations, especially in countries such as India and China, are expected to further drive the market growth.

The key players that operate in the clinical workflow solution market are Allscripts Healthcare LLC, Ascom Holding AG, CISCO, Epic System Corporation, General Electric Company, Infor Inc, Koninklijke Philips N.V., McKesson Corporation, NGXN Management LLC, and Oracle Corporation.