Market Overview

Clinical Decision Support System (CDSS) Market $1764.93 Mn Revenue at 12% CAGR Expected To Reach by 2023 | Market Research Future

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Pune, India, Aug. 08, 2018 (GLOBE NEWSWIRE) -- The Global Clinical Decision Support System (CDSS) Market size is projected to touch USD 1764.93 Mn by 2023, exhibiting a 12% CAGR from 2018 to 2023 (forecast period), according to a new report published by Market Research Future (MRFR).

Business Overview

Clinical decision support systems (CDSS) are systems designed to provide optimal support to physicians in the decision-making process. It uses patient data and previous electronic health records (EHR) to offer premium advice which can expedite the diagnosis rate and save lives of patients.

Data-driven healthcare models are rapidly replacing legacy models used in hospitals and clinics to assist doctors in patient care. This is the primary factor driving market growth over the forecast period. The rise in the geriatric populace, increase in patient pool, and developments in the healthcare sector are factors anticipated to positively impact the market.  Furthermore, supportive government policies, adoption of cloud computing, and focus on minimizing human errors can fuel CDSS adoption across hospital chains.

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Key Players

Well-known players in the market include Epic Systems Corporation, Meditech,  Athenahealth, Inc., Agfa-Gevaert Group, Wolters Kluwer Health, Allscripts, Carestream, Elsevier B.V., Cerner Corporation, and Hearst Health. Expansions and partnerships are strategies being employed by players to gain a bigger foothold in the market. Allscripts, Epic Systems, Meditech, and Cerner accounted for nearly 60% of the market in 2017. Focus on offering these solutions and services to clinics and hospitals in smaller cities can heat up the race over the forecast period.

The susceptibility of the elderly to age-related diseases such as orthopedic diseases, cancer, and others is expected to push the demand for CDSS. This is supported by a report by the World Health Organization (WHO), which states that nearly the aged population will double by 2050. The sedentary lifestyle and rise in global populace can also impact the market. The evolution of artificial intelligence and the ambit of CDSS in enhancing the operational efficiency of hospitals will bode well for the market. But concerns regarding data privacy may act as a bottleneck.

Industry Segmentation

The clinical decision support system market is segmented by component, product, model, delivery mode, mode of advice, setting, type, application, and region. Software, services, and hardware are the types of components discussed. The software segment is expected to touch a valuation of USD 982.42 Mn by 2023 owing to the need of advanced software to cater to growing consumer demand. By product type, the Clinical Decision Support System (CDSS) Market report covers integrated and standalone CDSS. The integrated CDSS segment is likely to gain a larger market share by 2023 owing to preference of a common centralized system. The access to a common database and user interface will simplify the process for support staff, enabling them to assist doctors rapidly.

Different models of CDSS include knowledge-based and non-knowledge-based. The knowledge-based CDSS segment will dominate the market owing to assisting in decision making process as compared to its counterpart. Delivery modes supported by CDSS include cloud-based and on-premise. The cloud-based segment is projected to be the best delivery mode for hosting medical data. Advantage of cloud such as low operational and capital expenditure is instrumental in its adoption rate as well as boosting segment demand.

By mode of advice, the Clinical Decision Support System (CDSS) Market is segmented into active and passive CDSS. The active CDSS segment accounted for 75% market share in 2017, with the major credit given to high adoption rate of CDSS. Inpatient and ambulatory care are two major types of settings for CDSS. The inpatient segment is set to showcase immense growth owing to the large patient pool handled by the segment. Diagnostic and therapeutic are two types of clinical decision support systems in the market. The therapeutic segment is expected to dominate the market till the end of the forecast period. Major applications comprise conventional and advanced. The advanced application segment is touted to exhibit a 12.34% CAGR over the forecast period with the hospital staff preferring it over conventional systems. Features such as protocol validation, treatment planning protocol, patient record management, population health management, and reasoning based models are expected to allure hospitals in implementing them.

Regional Data Overview

Regions discussed include North America, South America, the Middle East & Africa (MEA), Asia Pacific (APAC), and Europe. The Americas is expected to be the largest market owing to large economies of Canada and the U.S. Presence of big players has expedited product development and lowered costs of the software. The Europe market is likely to exhibit a phenomenal CAGR during the forecast period owing to patient accessibility to records, increase in healthcare budgets of nations, and supportive government initiatives to create patient awareness.

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