[291 Pages Report] Expanding at a CAGR of 13.7%, the global clinical communication and collaboration software market is projected to reach US$ 5.7 Billion by 2032, against US$ 1.6 Billion in 2022. From 2015-21, the market displayed a CAGR of 18%. Rapid digitalization of healthcare infrastructure is expected to play a significant role in driving the market during the forecast period.
“Increasing adoption of smart technologies in the healthcare sector and the growing awareness among developing countries are projected to play important role in strengthening the global clinical communication and collaboration software market during the forecast period.”
Growing awareness regarding the availability of communication and collaboration systems across hospitals and clinics is expected to benefit the market during the forecast period. The industry is projected to expand notably due to the rising adoption of smart devices in healthcare facilities.
Attributes | Details |
---|---|
Clinical Communication and Collaboration Software Market Size (2022) | US$ 1.6 Billion |
Clinical Communication and Collaboration Software Market Forecast (2032) | US$ 5.7 Billion |
Clinical Communication and Collaboration Software Market CAGR (2022 to 2032) | 13.7% |
In June 2021, Mobile Heartbeat announced that it is launching Banyan ™, a cloud-based communication system for healthcare providers. The new platform built on Microsoft Azure will comprise a suite of modular applications purpose-built for applications across the entire healthcare enterprise, including ambulatory and hospitals.
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Cloud-based software are projected to gain significant traction during the forecast period. The rising number of remotely located teams that demand a cloud-based platform to share, communicate, and collaborate with all locations efficiently is anticipated to boost the demand for cloud-based storage. In July 2021, Vocera Communications, a renowned name in clinical communication and collaboration, introduced its new cloud-based clinical communication and collaboration solution for smartphones known as Vocera Edge. Vocera Edge allows healthcare systems to get the most out of their electronic health record (EHR) investments.
Additionally, players in the market are taking various initiatives to secure funds from the other strong entities of the industry. For instance, in July 2022, Tebra raised US$ 72 Million to scale its operating system for independent practices. It reached a valuation of more than US$ 1 Billion. Tebra was founded in November as a result of a merger between PatientPop, a provider of healthcare marketing and practice management software, and Kareo, which sells cloud-based clinical and financial software.
Other factors contributing to the market growth include increasing the healthcare budget of developing countries such as India, China, and Japan. Also, the growing implementation of collaboration tools is expected to bolster the industry expansion in the assessment period. For instance, Columbia County Health Systems implemented collaboration tools, which allow real-time conversations among geographically dispersed care teams. Attributed to such factors, the market for clinical communication and collaboration software is anticipated to expand notably in the forecast period.
Players in the market are integrating IoT with collaboration solutions to enhance operational efficiency and patient care. This is expected to offer significant opportunities to the market during the forecast period. The healthcare IoT environment configures wellness applications, smart devices, beacons, and other connected devices to assist patients and facilitate analytics.
With the application of mobile phones and Bluetooth beacons, hospitals assist patients and visitors to navigate their way in the large hospital premises. For instance, the Wayfinding application from Boston Children’s Hospital offers turn-by-turn directions for its 12-building healthcare campuses.
Another significant factor posing as a remunerative opportunity for the industry is the emergence of AI-led telemedicine services. As per WHO, AI in telemedicine is boosting innovations in various areas like telepathology, teledermatology, and teleradiology. Accredited to the aforementioned opportunities, the market is projected to expand notably in the forecast period.
High costs associated with the deployment of such devices are projected to be salient factors hampering the market growth during the forecast period. Owing to the crisis of funds, the medium, and small healthcare institutions cannot avail the benefits. Cloud storage is expensive as it demands external storage and high maintenance costs with expertise, thus, the market is projected to suffer to an extent in the forecast period.
However, the integration of AI and IoT in the services is expected to counter the hampering causes and act as a salient opportunity for the industry in the forecast period.
Clinical Communication and Collaboration Software Market:
Attributes | Clinical Communication and Collaboration Software Market |
---|---|
CAGR (2022 to 2032) | 13.7% |
Market Value (2032) | US$ 5.7 Billion |
Growth Factor | Growing awareness regarding the availability of communication and collaboration systems across hospitals and rapid digitalization of the healthcare infrastructure is expected to boost the market during the forecast period. |
Opportunities | Integration of AI and IoT in various fields of healthcare structure is anticipated to act as a significant opportunity for market growth during the forecast period. |
Patient Positioning System:
Attributes | Patient Positioning System |
---|---|
CAGR (2022 to 2032) | 3.9% |
Market Value (2032) | US$ 1.8 Billion |
Growth Factor | Expanding geriatric population and increasing cases of cancer are projected to play a significant role in driving the market during the forecast period. |
Opportunities | The emergence of an AI-based patient positioning system for analyzing and comparing the imaging workflow is projected to act as a salient opportunity for market expansion in the forecast period. |
Patient Registry Software Market:
Attributes | Patient Registry Software Market |
---|---|
CAGR (2022 to 2032) | 8.8% |
Market Value (2032) | US$ 4.4 Billion |
Growth Factor | With the growing cases of cancer, cardiovascular, and diabetes, there has been a notable rise in demand for EHRs, which will impact the market positively in the coming time. |
Opportunities | The emergence of cloud-based opportunities is projected to widen the market scope during the forecast period. |
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As per the analysis, the hosted segment is anticipated to secure maximum traction while expanding at a CAGR of 11.7% during the forecast period. In 2015-21, the segment displayed a CAGR of 16%.
Benefits offered by the hosted deployment such as potential cost savings, enhanced security and privacy, and superior flexibility and scalability are expected to be key factors driving the expansion of the segment during the forecast period.
According to the study, the hospital segment is projected to dominate the market during the forecast period. The segment is expected to record a CAGR of 11.7%, while the growth rate during 2015-21 was 16.1%.
Hospitals realized the importance of contactless communication and collaborations after the advent of COVID-19. Organizations have started to offer collaboration solutions to enterprises providing free-of-cost COVID-19 therapies. For instance, Microsoft Corporation offered the UK National Health Service staff to use Microsoft Teams to communicate seamlessly with their teammates.
As per the analysis, North America is projected to dominate the market during the forecast period. The U.S is predicted to make the maximum contribution to the regional market. By the end of 2032, the U.S is expected to hold a value worth US$ 1.9 Billion while showcasing a CAGR of 13%.
A maximum of hospitals in the United States have implemented clinical communication and collaboration solutions, which is expected to benefit the market during the forecast period. Also, growing investment among players is anticipated to benefit the industry in the assessment period. For instance, in January 2022, Vista Equity Partners invested US$ 300 Million in healthcare communication software company TigerConnect. Such factors are expected to benefit the U.S market in the forecast period.
According to the analysis, the Chinese clinical communication and collaboration software market is anticipated to record the highest CAGR of 12.9% during the forecast period.
The growth of the market can be attributed to the increasing healthcare expenditure in the country and the growing popularity of modern healthcare methods. A mobile telehealth system (MTS) was launched during COVID-19 in various Chinese hospitals. The MTS could overcome the problem to reach the patient and access the information stored. Further, in 2020, health expenditure in China equaled about 7.1 % of the GDP, against 6.67% in the previous year. Attributed to such factors, the market in China is anticipated to grow significantly in the forecast period.
Cedar, AlayCare, Forward Health, NexHealth, Luma Health, Weave, Pager, Vytalize Health, Hint Health, Memora Health, and Tendo Systems, among others, are some of the emerging entities that are expected to make a significant contribution to the market during the forecast period.
Key players in the global clinical communication and collaboration software market include AGINITY Global Inc., Avaya Inc., Cerner Corporation, Cisco Systems, Inc., and Halo Health.
Report Attributes | Details |
---|---|
Growth Rate | 13.7% CAGR from 2022 to 2032 |
Market Value for 2022 | US$ 1.6 Billion |
Market Value for 2032 | US$ 5.7 Billion |
Base Year for Estimation | 2021 |
Historical Data | 2015 to 2021 |
Forecast Period | 2022 to 2032 |
Quantitative Units | US$ Million for Value |
Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
Segments Covered | Deployment, End Use, Region |
Regions Covered | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, France, UK, Italy, BENELUX, Nordics, China, Japan, South Korea, GCC, South Africa, Turkey |
Key Companies Profiled | AGINITY Global Inc.; Avaya Inc.; Cerner Corporation; Cisco Systems, Inc.; Halo Health; Hill Room Services Inc.; Intel Corporation; Microsoft Corporation; NEC Corporation; Spok Inc.; Plantronics Inc. |
Report Customization & Pricing | Available upon Request |
The global clinical communication and collaboration software market is expected to expand at a CAGR of 13.7% during the forecast period
By 2022, Future Market Insights expects the clinical communication and collaboration market to reach US$ 1.6 Billion
The clinical communication and collaboration software market is expected to secure US$ 5.7 Billion by 2032
Hospitals are expected to dominate the global clinical communication and collaboration software market, registering a CAGR of 11.7%
The U.S is expected to dominate the global clinical communication and collaboration software market at a CAGR of 13%.
The U.K the clinical communication and collaboration software market is anticipated to secure US$ 232 Million by 2032
China is expected to be a significant contributor, registering a 12.9% CAGR until 2032
1. Executive Summary 1.1. Global Market Outlook 1.2. Summary of Statistics 1.3. Key Market Characteristics & Attributes 1.4. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Risks and Trends Assessment 3.1. Risk Assessment 3.1.1. COVID-19 Crisis and Impact on Clinical Communication and Collaboration Software Demand 3.1.2. COVID-19 Impact Benchmark with Previous Crisis 3.1.3. Impact on Market Value (US$ Mn) 3.1.4. Assessment by Key Countries 3.1.5. Assessment by Key Market Segments 3.1.6. Action Points and Recommendation for Suppliers 3.2. Key Trends Impacting the Market 3.3. Formulation and Product Development Trends 4. Market Background and Foundation Data Points 4.1. Global Protective Coatings Market (US$ Mn) 4.2. Clinical Communication and Collaboration Software Market Opportunity Assessment (US$ Mn) 4.2.1. Total Available Market 4.2.2. Serviceable Addressable Market 4.2.3. Serviceable Obtainable Market 4.3. Market Scenario Forecast 4.3.1. Demand in optimistic Scenario 4.3.2. Demand in Likely Scenario 4.3.3. Demand in Conservative Scenario 4.4. Investment Feasibility Analysis 4.4.1. Investment in Established Markets 4.4.1.1. In Short Term 4.4.1.2. In Long Term 4.4.2. Investment in Emerging Markets 4.4.2.1. In Short Term 4.4.2.2. In Long Term 4.5. Forecast Factors - Relevance & Impact 4.5.1. Top Companies Historical Growth 4.5.2. Global Protective Coatings Market Growth 4.5.3. Clinical Communication and Collaboration Software Adoption Rate, By Country 4.6. Market Dynamics 4.6.1. Market Driving Factors and Impact Assessment 4.6.2. Prominent Market Challenges and Impact Assessment 4.6.3. Clinical Communication and Collaboration Software Market Opportunities 4.6.4. Prominent Trends in the Global Market & Their Impact Assessment 5. Key Success Factors 5.1. Manufacturers’ Focus on Low Penetration High Growth Markets 5.2. Banking on with Segments High Incremental Opportunity 5.3. Peer Benchmarking 6. Global Clinical Communication and Collaboration Software Market Demand Analysis 2015-2021 and Forecast, 2022-2032 6.1. Historical Market Analysis, 2015-2021 6.2. Current and Future Market Projections, 2022-2032 6.3. Y-o-Y Growth Trend Analysis 7. Global Clinical Communication and Collaboration Software Market Value Analysis 2015-2021 and Forecast, 2022-2032 7.1. Historical Market Value (US$ Mn) Analysis, 2015-2021 7.2. Current and Future Market Value (US$ Mn) Projections, 2022-2032 7.2.1. Y-o-Y Growth Trend Analysis 7.2.2. Absolute $ Opportunity Analysis 8. Global Clinical Communication and Collaboration Software Market Analysis 2015-2021 and Forecast 2022-2032, By Deployment 8.1. Introduction / Key Findings 8.2. Historical Market Size (US$ Mn) Analysis By Deployment, 2015-2021 8.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Deployment, 2022-2032 8.3.1. Hosted 8.3.2. On-Premise 8.4. Market Attractiveness Analysis By Deployment 9. Global Clinical Communication and Collaboration Software Market Analysis 2015-2021 and Forecast 2022-2032, By End-use 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ Mn) Analysis By End-use, 2015-2021 9.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By End-use, 2022-2032 9.3.1. Hospitals 9.3.2. Clinical Labs 9.3.3. Physicians 9.3.4. Others 9.4. Market Attractiveness Analysis By End-use 10. Global Clinical Communication and Collaboration Software Market Analysis 2015-2021 and Forecast 2022-2032, By Region 10.1. Introduction 10.2. Historical Market Size (US$ Mn) Analysis By Region, 2015-2021 10.3. Current Market Size (US$ Mn) & Analysis and Forecast By Region, 2022-2032 10.3.1. North America 10.3.2. Latin America 10.3.3. Europe 10.3.4. Asia Pacific 10.3.5. Middle East and Africa (MEA) 10.4. Market Attractiveness Analysis By Region 11. North America Clinical Communication and Collaboration Software Market Analysis 2015-2021 and Forecast 2022-2032 11.1. Introduction 11.2. Pricing Analysis 11.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 11.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 11.4.1. By Country 11.4.1.1. U.S. 11.4.1.2. Canada 11.4.1.3. Rest of North America 11.4.2. By Deployment 11.4.3. By End-use 11.5. Market Attractiveness Analysis 11.5.1. By Country 11.5.2. By Deployment 11.5.3. By End-use 12. Latin America Clinical Communication and Collaboration Software Market Analysis 2015-2021 and Forecast 2022-2032 12.1. Introduction 12.2. Pricing Analysis 12.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 12.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 12.4.1. By Country 12.4.1.1. Brazil 12.4.1.2. Mexico 12.4.1.3. Rest of Latin America 12.4.2. By Deployment 12.4.3. By End-use 12.5. Market Attractiveness Analysis 12.5.1. By Country 12.5.2. By Deployment 12.5.3. By End-use 13. Europe Clinical Communication and Collaboration Software Market Analysis 2015-2021 and Forecast 2022-2032 13.1. Introduction 13.2. Pricing Analysis 13.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 13.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 13.4.1. By Country 13.4.1.1. Germany 13.4.1.2. France 13.4.1.3. U.K. 13.4.1.4. Italy 13.4.1.5. Benelux 13.4.1.6. Nordic Countries 13.4.1.7. Rest of Europe 13.4.2. By Deployment 13.4.3. By End-use 13.5. Market Attractiveness Analysis 13.5.1. By Country 13.5.2. By Deployment 13.5.3. By End-use 14. Asia Pacific Clinical Communication and Collaboration Software Market Analysis 2015-2021 and Forecast 2022-2032 14.1. Introduction 14.2. Pricing Analysis 14.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 14.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 14.4.1. By Country 14.4.1.1. China 14.4.1.2. Japan 14.4.1.3. South Korea 14.4.1.4. Rest of Asia Pacific 14.4.2. By Deployment 14.4.3. By End-use 14.5. Market Attractiveness Analysis 14.5.1. By Country 14.5.2. By Deployment 14.5.3. By End-use 15. Middle East and Africa Clinical Communication and Collaboration Software Market Analysis 2015-2021 and Forecast 2022-2032 15.1. Introduction 15.2. Pricing Analysis 15.3. Historical Market Value (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 15.4. Market Value (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 15.4.1. By Country 15.4.1.1. GCC Countries 15.4.1.2. South Africa 15.4.1.3. Turkey 15.4.1.4. Rest of Middle East and Africa 15.4.2. By Deployment 15.4.3. By End-use 15.5. Market Attractiveness Analysis 15.5.1. By Country 15.5.2. By Deployment 15.5.3. By End-use 16. Key Countries Clinical Communication and Collaboration Software Market Analysis 2015-2021 and Forecast 2022-2032 16.1. Introduction 16.1.1. Market Value Proportion Analysis, By Key Countries 16.1.2. Global Vs. Country Growth Comparison 16.2. US Clinical Communication and Collaboration Software Market Analysis 16.2.1. Value Proportion Analysis by Market Taxonomy 16.2.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.2.2.1. By Deployment 16.2.2.2. By End-use 16.3. Canada Clinical Communication and Collaboration Software Market Analysis 16.3.1. Value Proportion Analysis by Market Taxonomy 16.3.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.3.2.1. By Deployment 16.3.2.2. By End-use 16.4. Mexico Clinical Communication and Collaboration Software Market Analysis 16.4.1. Value Proportion Analysis by Market Taxonomy 16.4.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.4.2.1. By Deployment 16.4.2.2. By End-use 16.5. Brazil Clinical Communication and Collaboration Software Market Analysis 16.5.1. Value Proportion Analysis by Market Taxonomy 16.5.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.5.2.1. By Deployment 16.5.2.2. By End-use 16.6. Germany Clinical Communication and Collaboration Software Market Analysis 16.6.1. Value Proportion Analysis by Market Taxonomy 16.6.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.6.2.1. By Deployment 16.6.2.2. By End-use 16.7. France Clinical Communication and Collaboration Software Market Analysis 16.7.1. Value Proportion Analysis by Market Taxonomy 16.7.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.7.2.1. By Deployment 16.7.2.2. By End-use 16.8. Italy Clinical Communication and Collaboration Software Market Analysis 16.8.1. Value Proportion Analysis by Market Taxonomy 16.8.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.8.2.1. By Deployment 16.8.2.2. By End-use 16.9. BENELUX Clinical Communication and Collaboration Software Market Analysis 16.9.1. Value Proportion Analysis by Market Taxonomy 16.9.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.9.2.1. By Deployment 16.9.2.2. By End-use 16.10. UK Clinical Communication and Collaboration Software Market Analysis 16.10.1. Value Proportion Analysis by Market Taxonomy 16.10.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.10.2.1. By Deployment 16.10.2.2. By End-use 16.11. Nordic Countries Clinical Communication and Collaboration Software Market Analysis 16.11.1. Value Proportion Analysis by Market Taxonomy 16.11.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.11.2.1. By Deployment 16.11.2.2. By End-use 16.12. China Clinical Communication and Collaboration Software Market Analysis 16.12.1. Value Proportion Analysis by Market Taxonomy 16.12.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.12.2.1. By Deployment 16.12.2.2. By End-use 16.13. Japan Clinical Communication and Collaboration Software Market Analysis 16.13.1. Value Proportion Analysis by Market Taxonomy 16.13.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.13.2.1. By Deployment 16.13.2.2. By End-use 16.14. South Korea Clinical Communication and Collaboration Software Market Analysis 16.14.1. Value Proportion Analysis by Market Taxonomy 16.14.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.14.2.1. By Deployment 16.14.2.2. By End-use 16.15. GCC Countries Clinical Communication and Collaboration Software Market Analysis 16.15.1. Value Proportion Analysis by Market Taxonomy 16.15.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.15.2.1. By Deployment 16.15.2.2. By End-use 16.16. South Africa Clinical Communication and Collaboration Software Market Analysis 16.16.1. Value Proportion Analysis by Market Taxonomy 16.16.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.16.2.1. By Deployment 16.16.2.2. By End-use 16.17. Turkey Clinical Communication and Collaboration Software Market Analysis 16.17.1. Value Proportion Analysis by Market Taxonomy 16.17.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 16.17.2.1. By Deployment 16.17.2.2. By End-use 16.17.3. Competition Landscape and Player Concentration in the Country 17. Market Structure Analysis 17.1. Market Analysis by Tier of Companies 17.2. Market Concentration 17.3. Market Share Analysis of Top Players 17.4. Market Presence Analysis 17.4.1. By Regional footprint of Players 17.4.2. Product footprint by Players 18. Competition Analysis 18.1. Competition Dashboard 18.2. Competition Benchmarking 18.3. Competition Deep Dive 18.3.1. AGINITY Global Inc. 18.3.1.1. Overview 18.3.1.2. Product Portfolio 18.3.1.3. Sales Footprint 18.3.1.4. Strategy Overview 18.3.2. Avaya Inc. 18.3.2.1. Overview 18.3.2.2. Product Portfolio 18.3.2.3. Sales Footprint 18.3.2.4. Strategy Overview 18.3.3. Cerner Corporation 18.3.3.1. Overview 18.3.3.2. Product Portfolio 18.3.3.3. Sales Footprint 18.3.3.4. Strategy Overview 18.3.4. Cisco Systems, Inc. 18.3.4.1. Overview 18.3.4.2. Product Portfolio 18.3.4.3. Sales Footprint 18.3.4.4. Strategy Overview 18.3.5. Halo Health 18.3.5.1. Overview 18.3.5.2. Product Portfolio 18.3.5.3. Sales Footprint 18.3.5.4. Strategy Overview 18.3.6. Hill Room Services Inc. 18.3.6.1. Overview 18.3.6.2. Product Portfolio 18.3.6.3. Sales Footprint 18.3.6.4. Strategy Overview 18.3.7. Intel Corporation 18.3.7.1. Overview 18.3.7.2. Product Portfolio 18.3.7.3. Sales Footprint 18.3.7.4. Strategy Overview 18.3.8. Microsoft Corporation 18.3.8.1. Overview 18.3.8.2. Product Portfolio 18.3.8.3. Sales Footprint 18.3.8.4. Strategy Overview 18.3.9. NEC Corporation 18.3.9.1. Overview 18.3.9.2. Product Portfolio 18.3.9.3. Sales Footprint 18.3.9.4. Strategy Overview 18.3.10. Spok Inc. 18.3.10.1. Overview 18.3.10.2. Product Portfolio 18.3.10.3. Sales Footprint 18.3.10.4. Strategy Overview 18.3.11. Plantronics, Inc 18.3.11.1. Overview 18.3.11.2. Product Portfolio 18.3.11.3. Sales Footprint 18.3.11.4. Strategy Overview 19. Assumptions and Acronyms Used 20. Research Methodology
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