New York, NY -- (SBWire) -- 04/23/2021 --The global Clinical Communication and Collaboration Market is expected to reach a market size of USD 5,029.8 Million by 2027, and register a significantly high revenue growth rate over the next seven years, according to a latest report by Reports and Data. Growing demand for clinical communication and collaboration solutions can be attributed to increasing digitization of healthcare system infrastructure globally. Digitization in healthcare systems enable easy maintenance of patient medical records and history. A patient's medical history is vital in emergency situations and unavailability of a physical copy can lead to conflicting medication or treatment, thereby resulting in potential medical complications. Digitization helps to keep doctors informed about the medical history of a patient whenever required, as well as aids in maintaining consistent communication between various specialist to collaboratively diagnose a specific medical condition.
The COVID-19 impact
Clinical communication and collaboration solutions witnessed substantial rise in demand during the COVID-19 pandemic, owing to challenges associated with managing COVID-19 patients and sharing of real-time resources with several other healthcare facilities, along with maintaining coordination healthcare systems and hospitals that compete with each other. Clinical communication and collaboration solutions enable healthcare systems more efficiently collaborate with each other to provide enhanced care to patients and communities.
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Further key findings in the report
Among the offering segments, the service segment revenue is expected to register a faster growth rate over the forecast period, owing to easy availability of prevailing communication systems and growing requirement to leverage advantages of collaboration and communication services to engage in and offer better healthcare practices.
Among the mode of deployment segment, revenue from the hosted segment is expected to register a faster rate over the forecast period, owing to advantages such as sharing of data across various healthcare systems and healthcare personnel using cloud networking, especially when all systems are using the same network. Furthermore, hosted deployment allows for easy scalability of data storage and traffic based on requirement, such as during flu season when more attention from healthcare providers is required.
The North America clinical communication and collaboration market accounted for comparatively higher revenue share in the global market in 2019/ This can be attributed to high integration of advanced digital technologies in healthcare organizations and increasing investments in digital healthcare infrastructure in countries in the region. Also, robust presence of leading clinical communication and collaboration solution providers and related companies in the region is driving market growth.
Key market players include Cisco Systems Inc., Microsoft Corporation, Plantronics Inc., Halo Health, Intel Corporation, Cerner Corporation, AGNITY, NEC Corporation, Hill-Rom Services, and Avaya Inc.
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For the purpose of this report, Reports and Data has segmented the global clinical communication and collaboration market on the basis of offering, mode of deployment, end-use, and region:
Offering Outlook (Revenue, USD Million; 2017-2027)
Solution
Service
Mode of Deployment Outlook (Revenue, USD Million; 2017-2027)
On-Premises
Hosted
End-Use Outlook (Revenue, USD Million; 2017-2027)
Hospitals
Clinics
Medical Laboratories
Others
Regional Outlook (Revenue in USD Billion; 2017–2027)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
TOC -
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Clinical Communication and Collaboration Market Segmentation & Impact Analysis
4.1. Clinical Communication and Collaboration Market Material Segmentation Analysis
4.2. Industrial Outlook
…………….
Chapter 9. Competitive Landscape
9.1. Market Revenue Share By Manufacturers
9.2. Manufacturing Cost Breakdown Analysis
9.3. Mergers & Acquisitions
9.4. Market positioning
9.5. Strategy Benchmarking
9.6. Vendor Landscape
Chapter 10. Company Profiles
10.1. Cisco Systems Inc.
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Technology Insights
10.1.4. Strategic Initiatives
10.2. Microsoft Corporation
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Technology Insights
10.2.4. Strategic Initiatives
10.3. Plantronics Inc.
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Technology Insights
10.3.4. Strategic Initiatives
10.4. Halo Health
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Technology Insights
10.4.4. Strategic Initiatives
10.5. Intel Corporation
10.5.1. Company Overview
10.5.2. Financial Performance
10.5.3. Technology Insights
10.5.4. Strategic Initiatives
Continued……….
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The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the Clinical Communication and Collaboration market and its competitive landscape.
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Clinical Communication and Collaboration Market Size, Share and Growth Analysis with Leading Players - Cisco Systems Inc., Microsoft Corporation, Plantronics Inc.
Growing digitization of healthcare systems infrastructure in developed and developing countries is a significant factor influencing growth of the market.