Clinical Decision Support Systems Market By Product (Standalone CDSS, Integrated CDSS), By Delivery Mode (Cloud Delivery, On Premises Delivery), By System Model (Knowledge Based, Non-Knowledge Based), By Component, By Application, and by Region (North America, Europe, Asia Pacific, Latin America, MEA) - Global Forecasts 2021 to 2027

Market Overview:

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 (2021-2027).

Computerized clinical decision support systems, abbreviated as CDSS, is a health data technology used to enhance healthcare experiences and delivery by assisting in critical medical decision making to clinicians with the usage of varied data such as patient information, targeted clinical data, records, and other health related information. CDSS benefits clinicians in their complex decision makings. CDSS was first used in the year 1980s, since then it has gone through tremendous technological evolution. They are now-a-days regulated with computerised data systems and through electronic medical records.

Some of the primary growth factors responsible to propel the clinical decision support systems market include, rising geriatric population, advancements in technology, and growing incidences of errors during medical treatments. Hospitals, clinics, and other healthcare organizations are moving towards frequent adoption of CDSS enabled EHRs and that have resulted as a boom in the clinical decision support system industry. Additionally, Governmental bodies of developing and developed nations are taking initiatives to promote the more adoption of Healthcare IT solutions and have made stringent rules and regulations supporting the same. However, factors such as data security concerns related to cloud-based CDSS, and lack of interoperability is anticipated to hamper the CDSS market in the forecast period.

The Global Clinical Decision Support Systems Industry Segmentation:

By Product Type

• Standalone CDSS
• Integrated CDSS

By Delivery Mode

• Cloud Delivery
• On Premises Delivery

By System Model

• Knowledge based
• Non-Knowledge based

By Component

• Services
• Software
• Hardware

By Application

• Advanced CDSS
• Conventional CDSS

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Based on Product, the standalone CDSS type segment is expanding at a growth at the highest rate during the period 2021-2027.

Amongst the product type in CDSS market the Standalone product type segment is anticipated to hold the largest market share in the forecast period. The Dominance is accounted to its simplicity and easy to adopt nature. The standalone systems are additionally of low cost making them easier for even small healthcare organisation to acquire, thus making it popular and most frequently adopted CDSS.

Based on the component, the Services segment was accounted for largest chunk in the overall Clinical Decision Support Systems market size.

In the Year 2020, the services segment accounted the largest market share and also anticipated to grow with highest CAGR during the forecast period. The Hardware segment includes the computers and all electronic devices used to run the software, the software component is responsible to perform data analysis and provide decision support to the clinicians while services involved maintenance. The CDSS services segmental growth is accounted to the need and demand for timely upgradations of the technologies and thus augmenting the segment.

Based on regions, the market for clinical decision support systems in North America accounted for the largest share in 2020, followed by Asia Pacific and Europe.

Geographically, the North American region was accounted to be the largest market in 2020 and is expected to continue its dominance in the forecast period. This dominance is majorly owing to the high demand for healthcare information technology solutions in healthcare sector in North America.  The focus on rapid technological advances and quality medical services contributes to the growth of the region.

The report also provides in-depth analysis of clinical decision support systems market dynamics such as drivers, restraints opportunities and challenges.

Drivers

1. Growing Geriatric Population
2. Government Regulations And Initiatives To Promote The Adoption Of HIT Solutions
3. Increased Adoption Of CDSS-Enabled EHRs
4. Rising Number Of Partnerships and Collaborations between Stakeholders
5. Increasing Incidence Of Errors During medical Treatments
6. Growing Prominence and Usage Of Big Data And mHealth Tools

Restraints

1. Lack Of Interoperability
2. Data Security Concerns Related To Cloud-Based CDSS

Opportunities

1. Emerging Asian Countries
2. Technological Advancements And Social Media Integration

Challenges

1. Requirement Of High Investments In Infrastructure For Implementing CDSS
2. Dearth Of Skilled IT Professionals In The Healthcare Industry

COVID-19 Impact on the Clinical Decision Support Systems Market Analysis

The impact of COVID-19 has greatly affected the market of the Clinical Decision Support Systems industry. The pandemic has emerged as a threat to human lives as well as to economy creating pressure on millions of people and their business. Healthcare organizations are already struggling to cope up with this pandemic situation, right from sourcing rapid diagnosing kits to sufficient PPE kits for workers. However, clinical decision support systems CDSS can be very beneficial in this situation. The CDSS ensures the digitally connected non-invasive devices and remote patient monitoring.

Moreover, the COVID-19 epidemic has mandated the necessity for a sense of social distance between healthcare professionals and patients, thus surging the demand for telemedicine and remote patient monitoring solutions and precise and up-to-date patient health records. Several players in this market have introduced COVID 19 related features into their existing EHRs and are offering them free of charge to their users.

The report also provides in-depth analysis of key trends in Clinical Decision Support Systems market

• The necessity for remote and digitally connected non- invasive devices such as pulse oximeters and home blood pressure monitors
• The increasing number of medication treatment errors
• The rising trend of implementing of CDSS- enabled ERHs in healthcare organizations

The report also provides in-depth analysis of recent news developments and investments

1. In October 2019, market leader MEDITECH launched the Depression Screening and Suicide Prevention Toolkit. The toolkit is developed, implementing Expanse technology and connecting content to clients and medical staff. Toolkit to help clinicians identify patients at risk for suicide and undiagnosed depression.
2. In October 2018, Mayo Clinics have completed and have gone live with implementations of system wide EHR implementation project in all Mayo healthcare campus locations in Jacksonville, Florida and Scottsdale, Arizona. The Implementations done are worth USD 1.5 billion.
3. In February 2018, Wolters Kluwer Health launched a well guided clinical decision making solution device named ‘Up-to-date Advanced’, with dynamic and interactive algorithms in the U.S.
4. In October 2017, Allscripts announced that it has successfully acquired hospital and health system IT business of McKesson Corporation, known as the Enterprise Information Solutions (EIS) business. This acquisition will benefit Allscripts to expand its client base in the U.S. along with its solution portfolio.

Clinical Decision Support Systems Market Company Profiles and Competitive Intelligence

The key players operating in the market are:

1. Cerner Corporation
2. Agfa Healthcare
3. Allscripts Healthcare Solutions, Inc.
4. Optum, Inc.
5. Meditech
6. Epic Systems Corporation Inc.
7. McKesson Corporation
8. First Databank, Inc.
9. GE Healthcare
10. Siemens Healthcare
11. Wolters Kluwer Health
12. NextGen Healthcare Information Systems
13. Truven Health Analytics
14. Philips Healthcare
15. IBM Watson Health
16. Elsevier B.V.

The unique insights provided by this report also include the following:

1. In-depth value chain analysis
2. Opportunity mapping
3. Sector snapshot
4. Key Players Positioning Matrix
5. Regulatory scenario
6. Strategies Adopted-Benchmarking Heat Map
7. Market trends
8. Covid-19 impact analysis
9. Product comparison
10. Pre & Post COVID 19 impact on Clinical Decision Support Systems Market
11. Competitive Landscape

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