Clinical Communication and Collaboration Market – Key Growth Factors and Industry Analysis 2017-2025

An introduction to the global clinical communication and collaboration market

Clinical communication and collaboration solutions are primarily used to coordinate activities among physicians, nurses, clinicians and other healthcare staff. A growing dependency on IT in the healthcare sector has led to the adoption of clinical communication and collaboration solutions in hospitals, clinics, and other healthcare facilities across the world. Need to address communication inefficiencies in healthcare organizations, advancement in IT systems and healthcare technologies, and adoption of next generation alarm management platforms are major factors driving revenue growth of the global clinical communication and collaboration market. The global clinical communication and collaboration market is expected to witness significant growth during the forecast period.

This growth is attributed to an increasing number of enterprises providing a wide range of clinical communication and collaboration solutions. Moreover, increasing participation and initiatives undertaken by the governments of various countries to adopt these solutions for digitalization of the healthcare industry is increasing the adoption of clinical communication and collaboration solutions across the globe. However high cost and lack of technical knowledge is anticipated to restrain market revenue growth over the forecast period.

Key players are introducing technologically advanced sensors and automation systems that can be deployed in gadgets used for communication to maximize the operational efficiency of clinical and healthcare staff. Partnerships with hospitals, clinical labs, and other medical institutions is expected to remain as the key strategy of leading players operating in the global clinical communication and collaboration market to increase their sales growth. Long-term contracts with business partners helps increase business revenue and new innovation strategy enabling vendors to reach new potential customers in emerging markets.

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A brief overview of the content type segment in the global clinical communication and collaboration market

Text: This segment elaborates the communication performed at a clinical level using ‘text’ as a medium of communication.

Video: This segment includes the communication performed at a clinical level using ‘video’ as a medium of communication. Engaging video content is used at clinics, labs, and hospitals.

Voice: This segment includes the communication performed at a clinical level using ‘voice’ as a medium of communication.

Text to remain top content type during the forecast period

The global clinical communication and collaboration market is classified on the basis of content type into text, video, and voice. Persistence Market Research projections indicate that the text segment will lead the global market in terms of value share during both the years 2017 and 2025, with an estimated market share in excess of 40% held over the forecast period. In terms of value, the text segment is anticipated to increase 3.3X between 2017 and 2025. In 2016, the text segment was valued at US$ 97.5 Mn and is expected to witness steady growth in terms of revenue throughout the forecast period. Revenue contribution from the text segment is anticipated to expand at a CAGR of 16.3% during the forecast period.

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Revenue generation from the video segment is expected to increase at a high CAGR over the forecast period. In terms of value, the video segment is anticipated to increase 3.8X between 2017 and 2025. The video segment is expected to register high Y-o-Y growth rates throughout the forecast period. In terms of value, this segment is expected to expand at a CAGR of 18.4% during the forecast period. Revenue from the voice segment is expected to increase from US$ 84.0 Mn in 2017 to US$ 286.8 Mn by 2025 end, representing a relatively high CAGR of 16.8% from 2017 to 2025. In terms of value, the voice segment is anticipated to increase 3.4X between 2017 and 2025.

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