Global Clinical Decision Support Systems (CDSS) Market to Grow at a CAGR of 8.3% from 2019-2028
Global Clinical Decision Support Systems Market Forecast, 2019 -2028
The Global Clinical Decision Support Systems Market Report projects the market to grow at a significant CAGR of 8.3% during the forecast period from 2019 to 2028. The market has evolved dramatically with a rising number of deaths due to medical errors, changing reimbursement models, and healthcare delivery framework. These changes have fueled the level of investments in the clinical decision support systems. However, the major contributors to these changes remain rising healthcare costs and rapidly increasing rate of hospital readmissions. To combat these adverse events, healthcare organizations are more focused toward achieving evidence-based clinical outcomes with the help of CDS systems which generate alerts to prevent any misdiagnosis during any medical process.
Despite the benefits, the clinical decision support systems are experiencing a low adoption rate because of challenges pertaining to their implementation.CDSS tools are perceived by physicians as a threat to their professional autonomy.
In addition to this, physicians do not appreciate the idea of overreliance on a device rather than their years of medical expertise.
Expert Quote on the Global Clinical Decision Support Systems Market
“Clinical decision support systems market is largely going to be driven by the urgent need to reduce global healthcare costs and rising number of deaths due to preventable medical errors. In terms of model used to develop a CDSS, knowledge-based systems are leading the market with 85% market share. Healthcare providers such as hospitals and physician groups are the largest end users for clinical decision support systems. The integration of CDSS with EMR systems is gaining more popularity in recent years and is dominating the product segment of the CDSS market.”
Scope of the Market Intelligence on Global Clinical Decision Support Systems Market
The purpose of this study is to gain a holistic view of the global clinical decision support systems market in terms of various influencing factors such as regional adoption trends, technological advancements, and pricing patterns.
The scope of this report constitutes of an in-depth study of the global clinical decision support systems market, including a thorough analysis of the products across different regions.The market has been chiefly segmented into product type, model, user interactivity, application, and region.
The report presents the reader with an opportunity to unlock comprehensive insights with respect to the market and helps in forming well-informed strategic decisions. The research uncovers some of the substantial parameters that must be taken into consideration before entering the market.
Global Clinical Decision Support Systems Market Segmentation
The Global Clinical Decision Support Systems Market can be segmented on the basis of “product type”, “model”, “user-interactivity”, “application”, and “region”.The integrated CDSS (decision support tools integrated with EHR of CPOE systems) is the leading product segment in the market which accounted for 42% of the overall CDSS market in 2018.
The market for the integrated system is expected to grow at a faster rate because of the extensive demand for solutions with interoperability and data sharing capabilities. On the other hand, the standalone segment is expected to grow at a slower rate as compared to the integrated systems due to their inability to be integrated with the clinical workflow of healthcare organizations.
In 2018, North America was estimated to be largest market for CDSS, with a revenue generation of $955.7 million in 2018. However, it is expected to witness a slow growth during the forecast period due to the consolidation of market in North America, especially in the U.S. The Asia-Pacific CDSS market is expected to grow at the highest CAGR during the forecast period, 2019-2028 due to improving IT infrastructure in the region and rising incidences of chronic diseases.
Furthermore, a plethora of opportunities is presented from emerging economies such as India and China.For example, China is struggling to deal with the problems associated with cataract faced by the aging population.
The nation currently accounts for 18% (approximately 5 million) of the global population suffering from blindness, thus providing the key players an opportunity to work closely with local partners such as Bringspring Meehealth and Medicom to develop dual language decision support systems which could be adopted easily by the clinics in China.
Key Companies in the Clinical Decision Support Systems Market
Some of the major key players in the global clinical decision support systems market include Cerner Corporation, McKesson Corporation, Allscripts Healthcare Solutions, Inc., The National Decision Support Company, Zynx Health, VisualDx, FirstDataBank, Elsevier B.V, and IBM Corporation (through acquisition of Truven Health Analytics).
Key Questions Answered in the Report: • What are the major market drivers, challenges and opportunities in the global clinical decision support systems market and their case studies? • What is the Total Addressable Market (TAM), Segmental Addressable Market (SAM) and the potential market opportunity of the global clinical decision support systems market? • What is the market share of the leading segments and sub-segments of the global clinical decision support systems market in 2018 and 2028? • What did the CDSS market evolve and what are the factors that necessitated its evolution? • How will each segment of the clinical decision support systems market grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2028? • What are the consumer preferences in terms of adoption of clinical decision support systems during the forecast period? • What are the key developmental strategies implemented by the key players to stand out in this market? • What is the preferred model used for building clinical decision support systems and how will this segment grow over during the forecast period? • How will the most preferred mode of software delivery grow during the forecast period? • Which application segment will be the highest revenue generator in this industry during the forecast period? • What is the scope of clinical decision support systems market in the emerging countries during the forecast period?
Countries Covered • North America • U.S. • Canada • Europe • Germany • France • U.K. • Russia • Asia-Pacific • China • Japan • India • Australia • South Korea • Rest-of-Asia-Pacific • New Zealand • Singapore • Malaysia • Rest-of-the-World • Brazil • Middle East
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