As per our report, the global clinical decision support systems market is expected to reach USD 1,752.0 million for 2025 of USD 901.0 million in 2020. 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 procedure.
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
Rising incidences of chronic diseases is undoubtedly a significant factor in the market growth to the extent. 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 clinical decision support systems market's growth rate.
MARKET RESTRAINTS
However, the shortage of skilled technicians in monitoring real-time issues is slowly hindering the market's growth rate. 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 less training programs is also an attribute restraining the market's demand.
Impact of COVID-19 on 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 has treated 299 patients with critical illness by using these devices. These systems performed with an accuracy range of 74.4% to 87.5%. So, the hospitals across the world are broadly approaching installing these systems during the time of 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:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2019 to 2025 |
|
Base Year |
2019 |
|
Forecast Period |
2020 to 2025 |
|
Segments Covered |
By Component, Delivery Mode, Product, Type, Model, User Intractability, Application, Setting, Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
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:
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 the 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:
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:
The standalone CDSS segment has continuously grown from the past few years and is esteemed to continue in the coming years. Adopting the latest technologies and prevalence for the manufacturing of new products in healthcare 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:
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:
The Knowledge-based CDSS category is ruling the largest shares of the market by 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:
The Active CDSS segment dominates the market's growth rate with the on-going 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 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 need of the market.
Clinical Decision Support Systems Market - By Setting:
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:
Regionally, the North America 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. Also, 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 for the market. The growing prevalence of the use of these devices in the hospitals to check the severity of COVID-19 patients is significantly influencing 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 DEVELOPMENTS:
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.
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Component
5.1.1 Introduction
5.1.2 Hardware
5.1.3 Software
5.1.4 Services
5.1.5 Y-o-Y Growth Analysis, By Product
5.1.6 Market Attractiveness Analysis, By Product
5.1.7 Market Share Analysis, By Product
5.2 Delivery Mode
5.2.1 Introduction
5.2.2 Cloud-based
5.2.3 On-Premise
5.2.4 Y-o-Y Growth Analysis, By Delivery Mode
5.2.5 Market Attractiveness Analysis, By Delivery Mode
5.2.76 Market Share Analysis, By Delivery Mode
5.3 Product
5.3.1 Introduction
5.3.2 Standalone CDSS
5.3.3 Integrated CDSS
5.3.4 Y-o-Y Growth Analysis, By Product
5.3.5 Market Attractiveness Analysis, By Product
5.3.6 Market Share Analysis, By Product
5.4 Type
5.4.1 Introduction
5.4.2 Therapeutic CDSS
5.4.3 Diagnostic CDSS
5.4.4 Y-o-Y Growth Analysis, By Type
5.4.5 Market Attractiveness Analysis, By Type
5.4.6 Market Share Analysis, By Type
5.5 Model
5.5.1 Introduction
5.5.2 Knowledge-based CDSS
5.5.3 Non-Knowledged-based CDSS
5.5.4 Y-o-Y Growth Analysis, By Model
5.5.5 Market Attractiveness Analysis, By Model
5.5.6 Market Share Analysis, By Model
5.6 User Interactivity
5.6.1 Introduction
5.6.2 Active CDSS
5.6.3 Passive CDSS
5.6.4 Y-o-Y Growth Analysis, By User Interactivity
5.6.5 Market Attractiveness Analysis, By User Interactivity
5.6.6 Market Share Analysis, By User Interactivity
5.7 Application
5.7.1 Conventional CDSS
5.7.2 Advanced CDSS
5.7.4 Y-o-Y Growth Analysis, By Setting
5.7.5 Market Attractiveness Analysis, By Setting
5.7.6 Market Share Analysis, By Setting
5.8 Setting
5.8.1 Introduction
5.8.2 Inpatient Settings
5.8.3 Ambulatory Care Settings
5.8.4 Y-o-Y Growth Analysis, By Setting
5.8.5 Market Attractiveness Analysis, By Setting
5.8.6 Market Share Analysis, By Setting
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Component
6.1.3.3 By Delivery Mode
6.1.3.4 By Type
6.1.3.5 By Model
6.1.9.6 By User Interactivity
6.1.9.7 By Application
6.1.9.8 By Setting
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Component
6.1.4.3 By Delivery Mode
6.1.4.4 By Type
6.1.4.5 By Model
6.1.4.6 By User Interactivity
6.1.4.7 By Application
6.1.4.8 By Setting
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Component
6.1.5.3 By Delivery Mode
6.1.5.4 By Type
6.1.5.5 By Model
6.1.5.6 By User Interactivity
6.1.5.7 By Application
6.1.5.8 By Setting
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Athersys
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Wolters Kluwer Health
8.3 Hearst Health
8.4 Elsevier B.V.
8.5 Cerner Corporation
8.6 McKesson Corporation
8.7 Epic Systems Corporation
8.8 MEDITECH
8.9 Philips Healthcare
8.10 International Business Machines (IBM)
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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