The Global Clinical Decision Support Systems Market was valued at USD 1.1 billion in 2020, and it is expected to reach USD 2.0 billion by 2027, with a CAGR of 8.9%, during the forecast period.
The global clinical decision support systems market is primarily driven by execution of stringent government regulations and initiatives to promote the adoption of Healthcare Information Technology (HIT) solutions. Other Important factors propelling the market growth include rising adoption of CDSS-enabled EHRs, an increasing number of partnerships and collaborations between stakeholders, and the escalating occurrences of errors during medical treatments. Moreover, expanding prominence and usage of big data and mHealth tools is also promoting the market growth in the forecast period. However, factors such as data security concerns related to cloud-based CDSS and lack of interoperability in clinical decision support systems (CDSS) are hampering the market growth during the forecast period.
The report also provides an in-depth analysis of market trends, financial analysis, segmentation analysis, company profiles and much more. The global clinical decision support system market is segmented into product, delivery mode, system model, component, application, and geography. On the basis of product, the Standalone CDSS segment is anticipated to hold the largest of market in 2021. Standalone CDSS is widely adopted owing to its simplicity and low cost thus maintaining its dominance over forecast period. Based on delivery mode, the cloud delivery segment is projected to contribute more during the forecast period.
Report also covers analysis of some of the key players including Cerner Corporation, Agfa Healthcare, Allscripts Healthcare Solutions, Inc., Optum, Inc., Meditech, Epic Systems Corporation Inc., McKesson Corporatio, First Databank, Inc., GE Healthcare, and Siemens Healthcare among others. These players have significantly adopted varied developmental strategies covered on our reports. The report also covers numerous market trends and upcoming opportunities in the near future.
Clinical decision support systems market Key Findings:
- During this COVID 19 epidemic, CDSS had a great importance as it can help medical institutions, professionals and physicians to make various clinical decisions using the prior experience, knowledge, data and suggestions provided by CDSS.
- On the basis of system model, knowledge based segment accounted more than 50% of market share in 2020 attributing to its several beneficiary functionalities, such as helping physicians with knowledge based reasoning to take clinical decisions.
- Based on regions, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The North America region captured a significant portion of the global clinical decision support systems market in 2020. Determinants such as the huge geriatric population, enhanced government enactment, a high risk of chronic diseases, and an increasing focus on numerous market participants in emerging North American countries are anticipated to drive the growth of the CDSS market in North America.
Clinical decision support systems market Recent News:
- In February 2019, Tenet Healthcare Corporation and Cerner announced an extension for their long time agreement. Both the companies would continue working with each other in order to make information systems in Tenet’s hospitals more efficient and reliable. This would help to connect patient information and would help both physicians and patients with a unified experience.
- In October 2017, Siemens Healthineers announced its successful acquisition over Medicalis Corporation, San Francisco. This acquisition extended the tools it can provide hospitals and healthcare systems that address population health initiatives and switch to value-based treatments.
The Global Clinical Decision Support Systems Market Segmentation:
By Product Type
- Standalone CDSS
- Integrated CDSS
By Delivery Mode
- Cloud Delivery
- On Premises Delivery
By System Model
- Knowledge based
- Non-Knowledge based
- Advanced CDSS
- Conventional CDSS
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
The key players operating in the Clinical decision support systems market are:
- Cerner Corporation
- Agfa Healthcare
- Allscripts Healthcare Solutions, Inc.
- Optum, Inc.
- Epic Systems Corporation Inc.
- McKesson Corporatio
- First Databank, Inc.
- GE Healthcare
- Siemens Healthcare
- Wolters Kluwer Health
- NextGen Healthcare Information Systems
- Truven Health Analytics
- Philips Healthcare
- IBM Watson Health
- Elsevier B.V.