Clinical Communication and Collaboration Marketwas valued USD 2.1 Billion in 2021 and is projected to reach USD 5.2 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 17.5% during 2022-2028. Clinical Communication and Collaboration programs have gained momentum due to the increasing use of smart devices in hospitals. These devices bring significant benefits to patients, including the ability to communicate effectively with care groups, gain better access to medical records, and the ability to complete complex administrative tasks.
Digital transformation in the healthcare sector is expected to give impetus to the growth of the Clinical Communication and Collaboration industry. Participating in the digital health system has allowed healthcare professionals to benefit from new technologies and to grow in new ways. In addition, new data-driven technologies promote digitalization and promote automation across the healthcare sector. Cloud-based storage options offer a more flexible environment at a reduced cost than deployment, which attracts covered organizations. A growing number of remote teams need a cloud-based platform to share and connect across non-seamless environments that are expected to further the partial growth over the next few years. As this software also allows healthcare professionals to access interactive tools on their smartphones, enabling them to access remote platforms has led to increased adoption of cloud-based software. In addition, hosted delivery allows for easy measurement of data storage and traffic based on a schedule, such as the flu season when additional attention is needed from healthcare providers.
Human interaction in healthcare involves the interaction between health care professionals and patients and the lack of direct communication between them increases the risk of errors in clinical services delivered to patients. Sometimes, patients may face problems such as the healthcare service provided by inexperienced industry professionals easily through such technical forums. Also, because of such problems, confidential medical information can also be leaked using a faulty electronic system. This issue is a major challenge for end-users as to whether they should use Clinical Communication and Collaboration solutions in their programs or not.
The global market for Clinical Communication and Collaboration is divided based on content type into text, video, and voice. Based on the end-user, the market is divided into clinical labs, hospitals, doctors, hotels, retail, correctional facilities, and others. On a component basis, the market is divided into hardware, software, and services. The hardware component consists of mobile, pager, access points, and others. Software components include secure messaging, workflow management, user management, among others. While services like support maintenance, integration, and training are included in the component. Among the providers, revenue for the service component is expected to record rapid growth during the forecast period, due to the easy availability of existing communication systems and the growing need to maximize the benefits of collaborating with communication services to engage and provide better healthcare systems.
Clinical Communication and Collaboration Market has been studied in North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Among these, North America held the largest share of revenue while Asia Pacific is predicted to have the highest CAGR during the forecast period. This is due to the rising adaptability of technological advancements in developed and developing nations. The increasing health risks with the growing population in the region also drive market growth.
Major players in the Global Clinical Communication and Collaboration Market include - Spok Inc.; Cerner Corporation; Hill Room Services, Inc.; Vocera Communications; and Cisco Systems Inc.