Clinical Communication and Collaboration Software Market Report 2024

This Clinical Communication And Collaboration Software market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The clinical communication and collaboration software market size has grown rapidly in recent years. It will grow from $1.64 billion in 2023 to $1.94 billion in 2024 at a compound annual growth rate (CAGR) of 18.5%. The growth during the historical period can be attributed to increased investments in healthcare IT, the adoption of mobile health (mHealth) solutions, the expansion of telemedicine and virtual care, a growing emphasis on patient-centric care, and the rising demand for secure and compliant solutions.

The clinical communication and collaboration software market size is expected to see rapid growth in the next few years. It will grow to $3.84 billion in 2028 at a compound annual growth rate (CAGR) of 18.6%. The growth during the forecast period can be attributed to the increasing adoption of smart technologies in healthcare, rising demand for cloud-based storage, the growing incidence of cancer, cardiovascular diseases, and diabetes, a heightened focus on patient-centric care, and increased healthcare spending. Key trends expected during this period include technological advancements, new product innovations, an expanding geriatric population, strategic partnerships, business expansions and acquisitions, and the integration of AI (artificial intelligence) and IoT (Internet of Things) across various areas of healthcare.

The increasing adoption of digital technologies is anticipated to drive the growth of the clinical communication and collaboration software market in the coming years. Digital technologies include electronic tools and systems that manage, store, or process data, such as computers, mobile devices, applications, cloud computing, and artificial intelligence (AI). This rise in digital technology adoption is primarily motivated by businesses’ need to enhance efficiency and maintain competitiveness, enabling them to streamline operations and improve decision-making. Digital technologies enhance clinical communication and collaboration software by facilitating instant data sharing, integrating various digital platforms, and improving patient information management, thereby allowing healthcare professionals to coordinate more effectively and enhance patient care. For instance, a report on AI activity in UK businesses, published in January 2022 by Capital Economics for the Department for Digital, Culture, Media, and Sport (DCMS), a UK government department, indicated that the adoption rate of AI is expected to increase from 15.1% in 2020 to 22.7% by 2025, resulting in an additional 267,000 businesses integrating AI into their operations. Consequently, the rising adoption of digital technologies is propelling the growth of the clinical communication and collaboration software market.

Major companies operating in the clinical communication and collaboration software market are focusing on developing platforms for patient monitoring, community care, and augmented reality to enhance real-time care delivery and improve healthcare outcomes. A platform for patient monitoring, community care, and augmented reality refers to an integrated digital solution that enables real-time health tracking, supports coordinated care across communities, and uses AR technology to enhance patient engagement and clinical workflows. For instance, in June 2024, Mitel Networks Corporation, a US-based cloud computing company that specializes in providing software solutions, launched Virtual Care and Collaboration Service (VCCS), a platform specifically designed to enhance digital healthcare services. Initially launched in seven European countries, including the UK, France, and Italy, the company plans to extend its reach globally by the end of the year. VCCS aims to streamline patient-centered care by providing secure, digital video consultations alongside integrated communication features such as voice and video calls, messaging, screen sharing, and file sharing. These tools are user-friendly and don't require additional software installations. By seamlessly integrating into existing healthcare workflows, the platform helps improve both operational efficiency and patient outcomes for providers.

In November 2023, Thoma Bravo, a US-based software investment firm acquired NextGen Healthcare Inc. for $1.8 billion. Thoma Bravo aims to accelerate NextGen's growth by leveraging its expertise in healthcare technology, particularly cloud-based solutions for ambulatory care, to drive innovation, improve operational efficiency, and expand market reach through this acquisition. NextGen Healthcare Inc. is a US-based provider of innovative, cloud-based healthcare technology solutions such as patient experience portal, patient self-scheduling, virtual visits, and online payment options.

Major companies operating in the clinical communication and collaboration software market are Microsoft Corporation, Oracle Corporation, Hillrom 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.

North America was the largest region in the clinical communication and collaboration software market in 2023. 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.

The countries covered in the clinical communication and collaboration software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Clinical communication and collaboration software encompasses technology solutions designed specifically for the healthcare sector to improve communication, collaboration, and workflow efficiency among healthcare professionals and institutions. These platforms offer features such as secure messaging, voice communication, and data sharing, all while adhering to healthcare regulations.

The primary types of this software are cloud-based and web-based. Cloud-based solutions are hosted on remote servers accessed through the internet, providing benefits such as flexibility, scalability, and lower infrastructure costs. Key functionalities of these platforms include secure messaging, medical alerts and alarms, mobile health integration, and support for various applications, including clinical workflows, administrative workflows, and services for hospitals, clinics, ambulatory settings, and long-term care facilities.

The clinical communication and collaboration software market research report is one of a series of new reports that provides clinical communication and collaboration software market statistics, including clinical communication and collaboration software industry global market size, regional shares, competitors with a clinical communication and collaboration software market share, detailed clinical communication and collaboration software market segments, market trends and opportunities, and any further data you may need to thrive in the clinical communication and collaboration software industry. This clinical communication and collaboration software market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The clinical communication and collaboration software market includes revenues earned by entities through secure messaging platforms, mobile applications, workflow optimization tools, data analytics, and reporting tools. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The clinical communication and collaboration software market consists of sales of servers and cloud infrastructure, and wearable devices. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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