The global clinical workflow solutions market is projected to reach USD 12.1 billion by 2023 from USD 6.8 billion in 2018, at a CAGR of 12.4%.
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The growth of this market is mainly driven by the increase in need to curtail healthcare costs and the increasing patient volume due to the rising prevalence of chronic diseases. Also, the advantages of clinical workflow solutions in enhancing patient care and safety along with the government initiatives for HCIT adoption are escalating the market growth.
Key Market Players in Clinical Workflow Solutions Market
The prominent players in the global clinical workflow solutions market are Hill-Rom Holdings, Inc. (US), Ascom Holding AG (Switzerland), GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Cisco Systems, Inc. (US), Stanley Black & Decker, Inc. (US), Cerner Corporation (US), Infor, Inc. (US), Allscripts Healthcare Solutions, Inc. (US), and McKesson Corporation (US).
The clinical workflow solutions market in the Latin America is expected to grow at the highest CAGR during the forecast period. The increasing government initiatives for eHealth, subsequent improvements in the healthcare infrastructure in emerging LATAM countries, rising medical tourism, and growing demand for quality healthcare are factors driving the growth of the Latin America clinical workflow solutions market.
Also, 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.
Recent Developments
In 2018, Infor launched the Healthcare Enterprise Analytics solution and the Infor Cloverleaf Integration Suite 6.2 version.
In 2016 Cerner opened a Healthe center at the Cerner Center in Bangalore, India, which helped the company enter the Indian market and also expand its geographic reach.
In 2016, Infor, Adobe, and Topline collaborated to form the H3 Solution, which includes AEM from Adobe, Cloverleaf from Infor, and Codeable LanguageTM from Topline Healthcare.
In 2015, Cerner acquired the assets of Siemens Health Services, with an aim to expand its market share, enhance its R&D capabilities, and enter into new markets.
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