“Clinical decision support systems market is projected to grow at a CAGR of 11.8%.”
The clinical decision support systems market is expected to reach USD 1,752.0 million by 2023 from USD 1,001.9 million in 2018, at a CAGR of 11.8%. Growth in the market is primarily driven by the government support and initiatives to drive adoption of HCIT solutions in healthcare, rising incidence of medication errors, rising prominence and usage of big data and mhealth tools, growing adoption of cloud computing in healthcare and partnerships between medical research groups & clinical decision support companies. However, reluctance to adopt mobile CDSS, high investments for IT infrastructure, data security concerns related to cloud-based CDSS, and lack of interoperability is likely to restrain the market to certain extent.
“Conventional CDSS to dominate the market, by application in 2017”
On the basis of application, the market has been segmented into conventional and advanced CDSS. In 2017, the conventional CDSS segment commanded the largest share of the global CDSS market. However, the advanced CDSS segment is estimated to grow at the highest rate in the forecast period. This is owing to these systems performing additional functions such as population health management, financial decision support, assisting clinicians in real-time evidence-based decision making, treatment planning, and protocol validation.
“Integrated CDSS segment is projected to grow at the highest CAGR during the forecast period.”
Based on product, the clinical decision support systems (CDSS) market is segmented into integrated CDSS and standalone CDSS. Of these, the integrated CDSS segment accounted for the largest market share in 2017. The large share of this segment is majorly attributed to the growing deployments of integrated CDSS. Integrated CDSS are widely used by healthcare providers as they improve the quality of care and health outcomes and reduce medication errors. While using integrated solutions, users can easily switch from one type of application to another without exiting the program.
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“Asia Pacific to witness the highest growth during the forecast period.”
Geographically, North America is expected to account for the largest share of the global clinical decision support systems market in 2017, followed by Europe, Asia Pacific, and the Rest of the World (RoW). However, Asia Pacific is expected to grow at the highest CAGR during the forecast period of 2018–2023. Factors such as the presence of a large patient population demanding better healthcare at lower costs, economic growth, implementation of favorable government policies, increasing spending on IT infrastructure by healthcare providers, and growing focus of various market players on emerging Asian countries are driving the growth of the market in this region.
Break of primary participants was as mentioned below:
By Company Type: Tier 1: 50%, Tier 2: 42%, Tier 3: 8%
By Designation: Director Level: 39%, C-Level: 29%, Others: 32%
By Region: North America: 32%, Europe: 24%, APAC: 26%, RoW: 18%
The report includes the study of key players offering clinical decision support systems such as Cerner Corporation (US), McKesson Corporation (US), Epic Systems Corporation Inc. (US), Medical Information Technology, Inc. (US), Philips Healthcare (Netherlands), Allscripts Healthcare Solutions, Inc. (US), Wolters Kluwer Health (US), Hearst Health (US), Elsevier B.V. (Netherlands), and International Business Machines (IBM) Corporation (US).
Research Coverage:
The report segments the global clinical decision support systems market on the basis of component, delivery mode, product, type, model, level of interactivity, application, settings, and region, with analysis and forecasts to 2023. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
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Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms to garner a greater market share. Firms purchasing the report could use one or a combination of the below-mentioned five strategies for strengthening their market shares.
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