According to MarkNtel Advisors’ research report “Global Clinical Decision Support System Market Analysis, 2020”, the Global Clinical Decision Support System market is anticipated to grow at a CAGR of around 11.2% during 2020-25. The snowballing need for reduction in human errors and a mounting need for reducing the healthcare expenditure and augmenting chronic disease prevalence among the population are the key factors for the growth of clinical decision support systems which is anticipated to escalate during the forecast period. However, the dearth of skilled labor would act as a restraint in the growth of the market through 2025.
Inpatient Settings Exhibited the Highest Growth
The inpatient settings segment garnered the largest market share in the global CDSS market in 2019. The major market share of this segment can be credited to the large volumes of patient data that need to be seized and analyzed in inpatient settings, owing to the amplified adoption of integrated healthcare IT modules including clinical decision support solutions.
Awareness Among Individuals in North America is Spurring the Demand for CDSS
The technological advancements taking place in the North America region along with high awareness among patients and emanating investments in the healthcare industry are catalysing the regional market growth. Agency for Healthcare Research and Quality (AHRQ) introduced an initiative to implement the findings of patient records through the clinical decision support system. The goal of the initiative was to accentuate the movement of evidence into practice through CDS and to make CDS more shareable, standards-based, and publicly available. Such initiatives would catalyze the demand during the forecast period as revealed by the MarkNtel Advisors’ research report “Global Clinical Decision Support System Market Analysis, 2020”.
Service Segment Exhibited a Positive Growth
Based on component, the services segment accounted for the largest market share in 2019 due to the growing need for installations, operations, and maintenance of clinical decision support systems. The services are recurring in nature and indispensable part of CDSS market.
Active CDSS Segment Captured the Lion’s Share
Based on the level of interactivity, the active segment has witnessed robust growth in 2019 on account of its excessive usage by healthcare providers and vigorous government initiatives to promote clinical IT solutions such as EHR, CDSS, and CPOE and the enlarging pressure to curb healthcare expenses serve to support the growth of this segment.
According to MarkNtel Advisors’, the key players with a considerable market share in the Global Clinical Decision Support System market include Cerner, Epic System, Philips Healthcare, IBM, AllScripts, Meditech, McKensson, Wolter Kluwer Health, Hearst Health, Elservier B.V, etc.
“Global Clinical Decision Support System Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Clinical Decision Support System providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
1. By Component (Hardware, Software, Services),
2. By Product (Integrated CDSS, Standalone CDSS, Integrated CDSS with CPOE and EHR),
3. By Type (Therapeutic Clinical Decision Support System, Diagnostic Clinical Decision System),
4. By Model (Knowledge Based CDSS, Non-Knowledge Based CDSS),
5. By Delivery Mode (On-Premise CDSS, Cloud-Based CDSS, Web Based CDSS),
6. By Level of Interactivity (Active CDSS, Passive CDSS),
7. By setting (Inpatient Setting, Ambulatory Settings),
8. By Country (US, Canada, Mexico, Brazil, Argentina, UK, Germany, Italy, Spain, China, India, Japan, South Korea, Australia, UAE, Saudi Arabia),
9. By Company (Cerner, Epic System, Philips Healthcare, IBM, AllScripts, Meditech, McKensson, Wolter Kluwer Health, Hearst Health, Elservier B.V, etc.)
Key questions answered in the study:
1. What are the current and future trends of the Clinical Decision Support System industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Clinical Decision Support System industry?
5. What are the customer orientation, purchase behavior, and expectations from the Clinical Decision Support System firms across various regions?