The clinical communication and collaboration software market is poised for significant growth, with a projected CAGR of 13.7%. By 2032, it is anticipated to reach a staggering US$ 5.7 billion in market value. This robust expansion underscores the increasing importance of efficient communication and collaboration tools within the healthcare industry.
Healthcare professionals are increasingly turning to specialized software solutions to streamline their workflows, enhance patient care, and improve overall operational efficiency. As the global healthcare landscape continues to evolve, the clinical communication and collaboration software market is set to play a pivotal role in facilitating seamless communication, sharing critical medical information, and ultimately delivering better healthcare outcomes for patients worldwide.
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The market is driven by factors such as the increasing adoption of mobile devices, the need to improve clinical workflows, and the rising demand for efficient and timely patient care. Major players in this market include companies such as Vocera Communications, Inc., TigerConnect, Halo Health, Ascom, and PatientSafe Solutions, among others. The market is expected to continue to grow in the coming years, driven by the increasing adoption of digital technologies in healthcare and the need for improved communication and collaboration among care teams.
What are the Top Opportunities in the Global Market for Clinical Communication and Collaboration Software?
IoT and collaboration solutions are being integrated by market participants to improve operational effectiveness and patient care. During the projected period, this is anticipated to present the market with sizable potential. To help patients and enable analytics, the healthcare IoT environment configures wellness applications, smart devices, beacons, and other connected equipment.
Hospitals help patients and visitors find their way around the expansive hospital grounds by using mobile phones and Bluetooth beacons. For instance, Boston Children’s Hospital’s Wayfinding app provides turn-by-turn directions for its 12-building healthcare campuses.
Competition Analysis:
Key players in the global clinical communication and collaboration software market include:
- 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.
In June 2022, Oracle Corporation announced the acquisition of EHR vendor Cerner Corporation at US$ 28.4 Billion. The all-cash deal was concluded after Oracle’s tender offer to purchase all issued and outstanding Cerner shares for US 95% per share expired after midnight, Eastern Time, on June 06. The acquisition aims to assist overworked medical professionals with a new generation of easier-to-use digital tools that allow access to information via a hands-free voice interface to secure cloud applications.
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Clinical Communication and Collaboration Software Market Segmentation:
By Deployment:
- Hosted Clinical Communication and Collaboration Software
- On-Premise Clinical Communication and Collaboration Software
By End User:
- Clinical Communication and Collaboration Software for Hospitals
- Clinical Communication and Collaboration Software for Clinical Labs
- Clinical Communication and Collaboration Software for Physicians
- Clinical Communication and Collaboration Software for Other End Users
By Region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin American
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