Clinical Workflow Solutions Market | Business Overview
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.
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 solutions offered by the company are put forward through its Cerner Millennium and HealtheIntent platform, which helps Cerner to extend its offerings to a broad customer base. The acquisition of Siemens Health Services on February 2015 is one of the major strategic developments which helped the company to expand its product offerings and market presence. The company focuses on enhancing its market share by expanding its solution footprint with existing clients. Cerner also aims to enhance its core solutions and develop new solutions and services. The company also focuses on strengthening its footprints in the non-US markets by enhancing its offerings.
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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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