Clinical Decision Support Systems Market

Global CDSS Market Size (2022 to 2027)

As per our report, the global clinical decision support systems market size is expected to reach USD 1759.4 million by 2027 and USD 1007.3 million in 2022. It is sprinting a CAGR of 11.8% during the forecast period.

Clinical decision support systems give special assistance to the healthcare professionals and physicians where it is designed with the healthcare IT systems. These are very helpful in diagnosing the disease accurately and improves decision-making. The accurate diagnosing decision will help healthcare professionals to provide appropriate treatment procedures. 

The average per capita healthcare expenditure was estimated at USD 10,586 in 2018, according to the Organization for Economic Co-operation and Development (OECD) survey report. 

MARKET DRIVERS:

Y-O-Y growth in the incidence of chronic diseases is one of the primary forces accelerating the global clinical decision support systems market growth.

Creating awareness through digital platforms is significantly influencing the development of the market towards positive. Besides, the launch of innovative technologies in favor of the end-users is also crediting the growth rate of the market extensively.

The market players' primary aim is to make the clinical decision support systems more standard-based and publicly available. The aforementioned factor is solely prompting the demand of the market. Also, rising support from the government organization through funds in the healthcare sector propels the growth rate of the global clinical decision support systems market. 

MARKET RESTRAINTS:

The shortage of skilled technicians in monitoring real-time issues slowly hinders the growth rate of the global clinical decision support systems market.

Fluctuations in the price of raw materials and the increasing cost of the devices are degrading the clinical decision support systems market's growth rate. The government's stringent rules and regulations to approve innovative products for public safety are major challenging factors for market players. Lack of complete knowledge over the devices' usage in diagnostic centers due to fewer training programs is also an attribute restraining the market's demand. 

Impact of COVID-19 on the global clinical decision support system market:

COVID-19 pandemic is playing a potential role in improving the clinical decision support system market's growth rate. These systems are beneficial for the patients with the coronavirus as they predict the risk of severity so that the healthcare professional can treat accordingly. From December 2019 to February 2020, hospitals in Wuhan have treated 299 patients with critical illness by using these devices. These systems performed with an accuracy range of 74.4% to 87.5%. So, hospitals across the world are broadly approaching installing these systems during the COVID-19 outbreak. The demand for this market is to propel even after the COVID-19 crisis due to its significant advantages. 

REPORT COVERAGE:

This market research report on the global CDSS market has been segmented and sub-segmented into the following categories and analyzed market size and forecast until 2025.

Clinical Decision Support Systems Market - By Component:

• Hardware
• Software
• Services

By Component, the hardware segment leads with the dominant shares, whereas the software segment has a significant growth rate in the coming years. The primary factor contributing to this segment's highest shares is the growing availability of raw materials in developed and developing countries at an affordable price. The services segment is to have growth opportunities in the forecast period.

Clinical Decision Support Systems Market - By Delivery Mode:

• Cloud-based
• On-premise

The cloud-based category is ruling with the most significant shares of the market by adopting big data technologies. On-premise has a sustainable growth rate during the period. A rise in the demand to launch a new product is fuelling the market's growth rate.

Clinical Decision Support Systems Market - By Product:

• Standalone CDSS
• Integrated CDSS

The standalone CDSS segment has continuously grown over the past few years and is esteemed to continue in the coming years. Adopting the latest technologies and prevalence for the manufacturing of new healthcare products is enhancing the market's demand. The Integrated CDSS segment is to highest CAGR in the foreseen years.

Clinical Decision Support Systems Market - By Type:

• Therapeutic CDSS
• Diagnostic CDSS

The Diagnostic CDSS segment is gaining traction over the shares in the period 2020-2025. Increasing incidences of chronic diseases and prevalence for early detection are fuelling the market's growth rate. Therapeutic CDSS is holding the second position in leading the highest shares of the market.

Clinical Decision Support Systems Market - By Model:

• Knowledge-based CDSS
• Non-Knowledge-based CDSS

The Knowledge-based CDSS category is ruling the largest shares of the market owing to government initiatives in creating awareness even in the rural areas. THE non-knowledge-based CDSS segment is having the highest CAGR in recent years.

Clinical Decision Support Systems Market - By User Interactivity:

• Active CDSS
• Passive CDSS

The Active CDSS segment dominates the market's growth rate with the ongoing research activities on developing new techniques. Passive CDSS is next to active CDSS in holding the dominant shares.

Clinical Decision Support Systems Market - By Application:

• Conventional CDSS
• Advanced CDSS

Conventional CDSS is ruling with the market's significant shares from the past years, whereas Advanced CDSS is thriving to hold the largest shares in the coming years. Growing awareness through digital advertisements and rising demand to elevate proper treatment procedures enhance the market's need.

Clinical Decision Support Systems Market - By Setting:

• Inpatient Settings
• Ambulatory Care Settings

Ambulatory care services lead with the highest shares of the market by increasing incidences of emergency cases. Installations of new ambulance techniques propel the quality treatment before reaching the hospital, saving a life. Inpatient settings are projected to grow at the highest CAGR in the forecast period due to increasing COVID-19 cases.

Clinical Decision Support Systems Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

Regionally, the North American CDSS market ruled the global with dominant shares in 2019. Constant economic growth in developed and developing countries is a significant factor ascribed to bolster the market demand in this region. The rapidly increasing demand for point of care testing accelerates the clinical decision support systems market's growth rate.

Europe is positioned second in leading with the most significant shares of the market by rising various health disorders. COVID-19 pandemic has impacted the growth of the market towards positive in this region. The launch of innovative techniques with the latest technology is boosting up the growth rate of the market.

Asia Pacific is expected to hit the highest CAGR in the near future due to a growing number of geriatric people. Increasing the patient pool with COVID-19 disease is also a critical factor in the growth of the clinical decision support system market. India is the one contributing to the most significant shares of the market. The growing prevalence of the use of these devices in hospitals to check the severity of COVID-19 patients significantly influences the demand of the market. China is next in leading the highest shares of the market.

Latin America and the Middle East, and Africa continue the same growth rate in the forecast period. Growing support from both public and private organizations through investments is likely to leverage the market's demand.

NOTABLE COMPANIES IN THE MARKET:

Companies dominating the global clinical decision support systems market analyzed in this report are Wolters Kluwer Health (USA), Hearst Health (USA), and Elsevier B.V. (Netherlands) are the leading players in the market. Other key players include Cerner Corporation (USA), McKesson Corporation (USA), Epic Systems Corporation (USA), MEDITECH (USA), Philips Healthcare (Netherlands), and International Business Machines (IBM) (USA), and Allscripts Healthcare Solutions, Inc. (USA).

RECENT MARKET HAPPENINGS:

• On January 17, 2018, Elsevier, a specialized business company in science and health, acquired Via Oncology to provide CDSS for the oncology sector. Via Oncology is a Pennsylvania-based company which is providing quality cancer care management for many years.
• In 2016, the launch of IntelliSpace Console Critical Care was announced by Royal Philips. The device helps to enhance the workflow of the patients in the intensive care unit. It ensures promoting quality treatment services through patient monitoring and tracking of metrics.