Clinical Decision Support System Market Size, Share, Growth, Demand and Forecast in Coming Years


Posted February 6, 2019 by vynzresearch

The global clinical decision support system market is predicted to grow at 13.6% CAGR during the forecast period with the market size reaching USD 2.0 billion by 2024.

 
Different types of products such as integrated and standalone are majorly contributing to the clinical decision support system market size. The market has witnessed significant demand for integrated over the last few years due to escalating implementations of integrated CDSS.

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Market Segmentation

1) Insight by Component
This segment is divided into innumerable subdivision. However, following are the major dominant ones:
• Software
• Hardware
• Services

Software hold the largest share in the clinical decision support system market, globally. Repeated characteristic of services such as consulting, installation, training and development, software upgrades, and maintenance led to the fastest growth of the services segment during the historical period, which is also predicted to continue during the forecast period.

2) Insight by Type
The market can be segmented into two types:
• Conventional
• Advanced

Of all, the advanced category is predicted to witness the higher CAGR during the forecast period due to healthcare organizations endeavoring to upgrade CDSS systems which execute functions such as protocol validation, population health management, health economics management, and treatment planning.

3) Insight by Product
On the basis of product, the market is divided into two types:
• Integrated
• Standalone

Of all, the integrated category is predicted to witness the higher CAGR during the forecast period.

4) Insight by Model
On the basis of model, the market is divided into two types:
• Knowledge-Based
• Non-Knowledge Based

Of all models, knowledge-based category accounted the larger share and predicted to witness the higher growth during the forecast period in the clinical decision support system market, due to various advantageous functionalities, such as helping clinicians to make clinical decisions in the case of doubts.

5) Insight by Delivery Mode
On the basis of delivery mode, the market is divided into three types:
• Web-Based
• Cloud-Based
• On-Premise

Of all, the clinical decision support system market size for cloud-based is expected to grow at the fastest rate during the forecast period, globally, due to its affordability, scalability, and affordability, and the lower capital expenses and operational costs.

6) Insight by Application
This segment is divided into innumerable subdivision. However, following are the major dominant ones:

• Drug Dosing Support
• Drug Allergy Alert
• Drug-Drug Interaction
• Clinical Reminder
• Clinical Guideline
• Others

Of all, the clinical decision support system market size for a clinical reminder is expected to grow at the fastest rate during the forecast period, globally.

Industry Dynamics

1) Growth Drivers
Factors that have been acting as the driving factors for the growth of this industry are:
i. The mounting occurrence of chronic diseases
ii. Budding implementation of cloud computing in healthcare
iii. Expanding the geriatric population
iv. Escalating government support and initiatives
v. The mounting occurrence of medication errors
vi. High returns on investment for CDSS solutions

2) Challenges
The major challenges faced by the key players in this industry are:
i. Data security issues
ii. Disinclination to accept mobile CDSS
iii. Huge investment for information technology infrastructure
iv. Lack of interoperability

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Geographic Overview
• Asia Pacific — Japan, China, India, Australia, South Korea, and Rest of Asia-Pacific
• North America — US, Canada, and Mexico
• Europe — UK, Germany, France, Italy, Spain, Russia, and Rest of Europe
• Rest of the World – Brazil, South Africa, Saudi Arabia, U.A.E., and Others

Geographically, North America is the largest clinical decision support system market as the region occurrence of medication errors is increasing, and the mounting requirement for quality healthcare delivery. In addition, regulatory mandates, escalating healthcare IT expenditure, technological advancements in healthcare IT solutions, and mounting occurrence of chronic diseases are also fueling the growth of the North American clinical decision support system market.

Competitive Insight

The Key players in the global clinical decision support system market are Wolters Kluwer Health, Cerner Corporation, Philips Healthcare, IBM Corporation, Hearst Health, Epic Systems Corporation, Allscripts Healthcare Solutions, Inc., Mckesson Corporation, and MEDITECH.
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Last Updated February 6, 2019