Global Clinical Communication and Collaboration Market Size To Exceed USD 7.24 Billion By 2033 | CAGR Of 12.65%
The Global Clinical Communication and Collaboration Market Size was Valued at USD 2.20 Billion in 2023 and the Worldwide Clinical Communication and Collaboration Market Size is Expected to Reach USD 7.24 Billion by 2033, according to a research report published by Spherical Insights & Consulting. Companies covered: Cisco Systems, Inc., Avaya LLC, Oracle, NEC Corporation, Microsoft Corporation, Intel Corporation, Vocera Communications, Plantronics, Inc., Intel Corporation, TNS Inc. (AGNITY Inc.), Halo Health Systems, Baxter International (Hillrom), Spok Holdings Inc., TigerConnect, JCT Healthcare Pty Ltd., Ascom Holding AG, Others, Cisco Systems, Inc., Avaya LLC, Oracle, NEC Corporation, Microsoft Corporation, Intel Corporation, Vocera Communications, Plantronics, Inc., Intel Corporation, TNS Inc. (AGNITY Inc.), Halo Health Systems, Baxter International (Hillrom), Spok Holdings Inc., Tige
New York, United States , May 15, 2024 (GLOBE NEWSWIRE) -- The Global Clinical Communication and Collaboration Market Size is to Grow from USD 2.20 Billion in 2023 to USD 7.24 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 12.65% during projected period.
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Clinical communication and collaboration (CC&C) are secure messaging solutions that integrate with clinical systems to strengthen the workflow for physicians, nurses, and other care team members via smartphone or desktop applications. The evolution of healthcare communication with secure messaging solutions focuses on texting in a HIPAA-compliance manner. As healthcare systems become increasingly complex with rising concerns about the security threats and cyberattacks of standard methods of communication like electronic health records, providers must continuously strive to improve communication and collaboration. The investment in a clinical communication and collaboration (CC&C) platform is one of the most effective ways to break down barriers within healthcare. It can also help reduce costs, improve revenue, and enhance patient and provider satisfaction. The rising emphasis on strengthening patient care and safety is driving the market demand for clinical communication and collaboration. Further, technological advancement and the growing need for real-time communication and secure messaging are also responsible for driving the global clinical communication and collaboration market. On the contrary, the regulatory compliance complexity and lack of standardized communication protocols and interoperability are restraining the market growth.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Clinical Communication and Collaboration Market Size, Share, and COVID-19 Impact Analysis, By Component (Solution and Services), By Deployment (Hosted and On-Premise), By End-Use (Hospitals, Clinical Labs, Physicians, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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*The solution segment is anticipated to hold the largest market share through the forecast period.*
Based on component, the global clinical communication and collaboration market is segmented into solution and services. Among these, the solution segment is anticipated to hold the largest market share through the forecast period. The solution segment of clinical communication and collaboration provides immediate responses during crisis management.
*The on-premise segment dominates the market with the largest revenue share through the forecast period.*
Based on deployment, the global clinical communication and collaboration market is segmented into hosted and on-premise. Among these, the on-premise segment dominates the market with the largest revenue share through the forecast period. The on-premise software provides greater control and security within the organization’s premises and permits more integration and customization with additional systems as per the requirement of the company. It is convenient and cost-effective deployment for larger organizations that have invested in IT infrastructure.
*The hospital segment dominates the market with the largest revenue share through the forecast period.*
Based on the end-use, the global clinical communication and collaboration market is segmented into hospitals, clinical labs, physicians, and others. Among these, the hospital segment dominates the market with the largest revenue share through the forecast period. The rising need for efficient communication and coordination in the hospital augments the market growth for clinical communication and collaboration. The rising technological advancement and smartphone penetration have the growing application of clinical communication and collaboration for the accessibility and availability of patient health information and treatment schedules to all legitimate stakeholders and systems.
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*North America dominates the market with the largest market share over the forecast period.*
North America dominates the market with the largest market share over the forecast period. In US, there is growing healthcare spending for implementing clinical communication and collaboration in hospitals. For instance, the implementation of the collaboration tool Columbia County Health System provides a real-time conversation. Further, the presence of significant key players is also responsible for enhancing the market growth in the region.
Asia-Pacific region is expected to grow the fastest during the forecast period. The rising use of telemedicine platforms during the COVID outbreak has driven market growth in the region. The growing use of telemedicine platforms on a large scale with the support of the government fuels the market demand for clinical communication and collaboration. Factors like the growing population, rising disposable income, and improving economic scenario will drive the growth of the market in the region
*Competitive Analysis:*
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global clinical communication and collaboration market are Cisco Systems, Inc., Avaya LLC, Oracle, NEC Corporation, Microsoft Corporation, Intel Corporation, Vocera Communications, Plantronics, Inc., Intel Corporation, TNS Inc. (AGNITY Inc.), Halo Health Systems, Baxter International (Hillrom), Spok Holdings Inc., TigerConnect, JCT Healthcare Pty Ltd., Ascom Holding AG, and Other Key Players.
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*Recent Developments*
· *In August 2023, *TigerConnect announced its physician scheduling solutions’s inclusion on the KLAS Research list of validated vendors in their physician scheduling category. TigerConnect is the healthcare’s most trusted clinical collaboration platform.
*Market Segment*
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global clinical communication and collaboration market based on the below-mentioned segments:
*Global Clinical Communication and Collaboration Market, Component Analysis*
· Solution
· Services
*Global Clinical Communication and Collaboration Market, Deployment Analysis*
· Hosted
· On-Premise
*Global Clinical Communication and Collaboration Market, End-Use Analysis*
· Hospitals
· Clinical Labs
· Physicians
· Others
*Global Clinical Communication and Collaboration Market, Regional Analysis*
· *North America*
· US
· Canada
· Mexico
· *Europe*
· Germany
· Uk
· France
· Italy
· Spain
· Russia
· Rest of Europe
· *Asia Pacific*
· China
· Japan
· India
· South Korea
· Australia
· Rest of Asia Pacific
· *South America*
· Brazil
· Argentina
· Rest of South America
· *Middle East & Africa*
· UAE
· Saudi Arabia
· Qatar
· South Africa
· Rest of Middle East & Africa
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