How Has the Clinical Communication And Collaboration Software Market Evolved Historically and What is its Current Size?
The clinical communication and collaboration software market has seen considerable growth due to a variety of factors.
• The market size for clinical communication and collaboration software has expanded quickly in recent times. It is projected to increase from $1.94 billion in 2024 to $2.3 billion in 2025, reflecting a compound annual growth rate (CAGR) of 18.9%.
The historical period's growth can be linked to increased investments in healthcare IT, wider acceptance of mobile health (mHealth) services, advancement in telemedicine and virtual care, a greater emphasis on patient-oriented care, and the need for reliable and regulation-compliant solutions.
What is the Forecasted Market Size and CAGR for the Clinical Communication And Collaboration Software Market?
The clinical communication and collaboration software market is expected to maintain its strong growth trajectory in upcoming years.
• Predictions suggest a swift expansion of the clinical communication and collaboration software market size in the forthcoming years. This growth is estimated to reach $4.55 billion in 2029, escalating at a compound annual growth rate (CAGR) of 18.5%.
The projected growth during the forecast period is a consequence of factors like the escalating adoption of intelligent technologies in the healthcare industry, the rising demand for cloud-storage, the increasing incidences of illnesses like cancer, cardiovascular diseases, and diabetes, a mounting focus on patient-oriented care, and elevated healthcare expenditure. The forecast period is set to witness key trends such as technological revolutions, innovation in new products, a burgeoning older population, strategic collaborations, business expansion and acquisitions, as well as the incorporation of AI (Artificial Intelligence) and IoT (Internet of Things) into diverse healthcare infrastructures.
What Key Factors and Trends Are Driving The Growth Clinical Communication And Collaboration Software Market?
The increasing embrace of digital tools is anticipated to drive the expansion of the clinical communication and collaboration software industries. These digital tools consist of electronic systems and instruments that handle, save, or process information, including mobile apps, computers, cloud technology, and artificial intelligence (AI). The surge in the use of digital technology is primarily attributed to the necessity for firms to enhance productivity and remain competitive, making it possible for them to streamline operations and make more informed decisions. The use of digital technologies enhances clinical communication and collaboration software by facilitating instantaneous data exchange, merging numerous digital platforms, and advancing patient data management, which supports healthcare providers in coordinating better and improving patient care. For instance, as stated in an AI report by Capital Economics for the UK's Department for Digital, Culture, Media, and Sport (DCMS) on AI activities in UK firms, the rate of digital adoption escalated from 15.1% in 2020 to 22.7% by 2025. This has led to an additional 267,000 businesses integrating AI into their operations. As such, the escalating adoption of digital tools is fuelling the expansion of the clinical communication and collaboration software industry.
What Are The Market Segments In The Clinical Communication And Collaboration Software Market?
The clinical communication and collaboration softwaremarket covered in this report is segmented –
1) By Type: Cloud Based, Web Based
2) By Functionality: Secure Messaging, Medical Alerts And Alarms, Mobile Health Integration
3) By Application: Clinical Workflows, Administrative Workflows
4) By End User: Hospitals, Clinics And Ambulatory Settings, Long-Term Care Facilities
Subsegments:
1) By Cloud Based: SaaS (Software as a Service) Solutions, Cloud Messaging Platforms, Cloud Storage and File Sharing Solutions
2) By Web Based: Web-Based Communication Portals, Online Collaboration Tools, Web-Based Telemedicine Platforms
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How Are New Trends Impacting The Size Of The Clinical Communication And Collaboration Software Market?
Leading firms in the clinical communication and collaboration software marketplace are honing in on creating platforms geared towards patient monitoring, community health care, and augmented reality to amplify real-time care and optimise health results. A platform that incorporates patient monitoring, community care, and augmented reality is a cohesive digital solution designed to facilitate real-time health surveillance, promote coordinated care within communities, and leverage AR technology to boost patient interaction and clinical processes. For example, in June 2024, Mitel Networks Corporation, an American cloud computing organisation known for its software solution offerings, introduced the Virtual Care and Collaboration Service (VCCS) platform, aiming to improve digital healthcare services. Initially launched in seven European nations, including the UK, France, and Italy, the company is set to expand its operation worldwide by the year-end. The goal of VCCS is to simplify patient-focused care by offering secure, digital video consultations along with built-in communication features like voice and video calls, messaging, screen sharing, and file sharing. These facilities are designed to be user-friendly and do not necessitate any additional software installations. The platform aims to enhance both the operational efficiency and patient outcomes by blending effortlessly into the existing healthcare processes.
Who Are the Key Players In The Clinical Communication And Collaboration Software Market?
Major companies operating in the clinical communication and collaboration software market are:
• Microsoft Corporation
• Oracle Corporation
• Hill-Rom Holdings Inc.
• Everbridge Inc.
• Ascom Holding AG
• Vocera Communications Inc.
• Spok Holdings Inc.
• Imprivata Inc.
• Symplr
• PerfectServe Inc.
• QliqSOFT Inc.
• Voalte Inc.
• Agnity Inc.
• Telmediq Inc.
• AMTELCO
• PatientSafe Solutions Inc.
• OnPage Corporation
• TigerConnect Inc.
• NHSmail
• Pulsara Inc.
• Mobile Heartbeat Inc.
What Are The Regional Insights Into The Clinical Communication And Collaboration Software Market?
North America was the largest region in the clinical communication and collaboration software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the clinical communication and collaboration software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
