Clinical decision support systems are versatile, which has spurred adoption among healthcare organizations. The rise in the number of hospitals, surging cases of medical emergency, and the rise in geriatric population are key factors boosting the growth of the market.
Clinical Decision Support Systems are computerized systems, which are designed to provide deep-diving insights to healthcare professionals to aid in numerous decision-making activities. Such systems include a variable cast of devices and vary according to the nature of the diseases being treated. In recent years, clinical decision support systems have become a valuable guidance tool for the healthcare industry.
The Clinical Decision Support System (CDSS) Market, as per Market Research Future (MRFR), in its latest report, is likely to expand at CAGR of 12% to reach a valuation of USD 1.76 Bn by the end of the assessment period of 2018-2023.
However, such systems run the risk of data breach, which can be disruptive to the growth of the market. Meanwhile, the market is likely to benefit from the shift of the healthcare sector towards data-driven technologies, and the advent of healthcare technologies such as healthcare AI, EMRs, and other healthcare technologies.
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Product launches and investment in R&D are a few of the important strategies employed by the top players in the global market to facilitate growth.
Hearst Health, Allscripts, Agfa-Gevaert Group, Wolters Kluwer Health, Athenahealth, Inc, Elsevier B.V., Meditech, Cerner Corporation, Epic Systems Corporation, and Carestream are the key players in the clinical decision support system market.
The global clinical decision support systems market has been segmented based on component, product type, model, delivery mode, mode of advice, setting, type, and application.
By component, the clinical decision support systems market has been segmented into software, hardware, and services. The software segment held the largest share of the market and stood at USD 493.43 Mn in 2017. The software segment is anticipated to reach USD 982.42 Mn by the end of 2023.
By product, the clinical decision support systems market has been segmented into integrated and standalone variants. The integrated CDSS segment accounts for the larger share of the global market and is anticipated to capture the highest CAGR as well. Integrated CDSS allows healthcare professionals to share a common interface and database, thus, simplifying processes.
By model, the clinical decision support systems market has been segmented into knowledge-based and non-knowledge-based CDSS. The knowledge-based CDSS segment has the upper hand in the market. These systems aid in decision making in uncertain conditions and are easy to access.
By delivery mode, the clinical decision support systems market has been segmented into cloud and on-premise.
By mode of advice, the clinical decision support systems market has been segmented into active and passive. With almost 75% share of the market, the active CDSS segment is domineering the global market.
By setting, the clinical decision support systems market has been segmented into inpatient settings and ambulatory care. The inpatient setting segment accounts for the majority share of 70% of the global market.
By type, the clinical decision support systems market has been segmented into therapeutic and diagnostic CDSS.
By application, the clinical decision support systems market has been segmented into advanced and conventional CDSS.
- Medical Devices Companies
- Research and Development (R&D) Companies
- Government Research Institutes
- Academic Institutes and Universities
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Region-wise, the clinical decision support market has been segmented into North America, Asia Pacific (APAC), the Middle East & Africa (MEA), Latin America, and Europe.
North America holds the largest share of the global clinical decision support systems market. The existence of major key players in the region gives leverage over others. Moreover, the advanced state of healthcare in the region and high expenditure on healthcare are furthering the growth of the market.
Europe accounts for an advantageous share of the global market and is likely to exhibit rapid growth over the forecast period. Government initiative undertaken to improve the healthcare sector, accessibility of advanced healthcare facilities, and increasing healthcare expenditure is some of the factors driving the growth of the Europe market.
Relentless strides made by the government of the emerging economies of APAC towards the modernization of the healthcare sector is likely to fuel the growth of the APAC market.
Market Growth Factor Analysis
5.1 Porter’s Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry
5.2 Investment Opportunity Analysis
5.3 Value Chain Analysis
…To be Continued
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