The Clinical Decision Support Systems (CDSS) market witnesses a continual rise in its size, mainly due to the spurting growth in the healthcare industry. The ever-increasing population is boosting healthcare operations, prompting the need for effective treatment and care. Moreover, rising numbers of care facilities worldwide define the growing landscape of the CDSS market.
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Furthermore, versatile CDSS functionalities, such as efficient data management, faster decision-making, and high workflow efficiency of CDS systems, escalate the market growth to furthered height. According to Market Research Future (MRFR), the valuation of global clinical decision support systems (CDSS) market had reached USD 890 MN in 2017. The market valuation is further expected to appreciate at a phenomenal CAGR during the forecast period (2018 – 2023).
Additionally, factors such as the massive demand for CDSS in hospitals and growth in the healthcare IT sectors worldwide foster the market growth, providing client-specific software solutions. Furthermore, the availability of user-friendly software solutions pushes the CDSS market, improving care-giving facilities’ operations and the performance of healthcare professionals.
Conversely, high costs of CDS software are expected to act as a major growth impeding factor for the market. Nevertheless, the efficiency & efficacy of CDS software that enhances overall operation management in hospitals & clinical settings would support market growth during the review period.
Clinical Decision Support Systems Market – Segments
The report is segmented into three dynamics: –
By Mode of Delivery : Cloud-based, On-premise, and others.
By End-user : Hospitals, Clinics, Laboratories, and others.
By Regions : Americas, Europe, Asia Pacific, and Rest-of-the-World.
Clinical Decision Support Systems Market – Geographical Analysis
North America holds a significant share in the global clinical decision support systems market. The largest market share attributes to increasing digital advances in medical technology. Besides, factors such as the presence of several notable players, healthcare IT companies, and well-established healthcare facilities in the region drive the market growth. Additionally, extensive uptake of CDS systems across rising numbers of hospitals propels the regional market growth.
Also, the well-spread awareness for the importance of electronic medical records (EMR), alongside the increasing demand for user-friendly systems to manage clinical operations act as significant tailwinds for the CDSS market in the region. The clinical decision support systems market in North America is estimated to retain its leading position in the global market throughout the review period.
Europe stands second in the global clinical decision support systems market. The market is driven by the vast demand for CDS systems across the growing number of clinical settings in the region. Moreover, the resurging economy plays a causal role in substantiating the market growth, increasing per capita healthcare expenses, and the number of healthcare facilities in the region.
Simultaneously, factors such as the increasing R&D expenses, funding to increase numbers of specialty services offered by numerous healthcare providers, foster the growth of the regional market. The European clinical decision support systems market is projected to account for a substantial market share during the forecast period.
The clinical decision support systems market in the Asia Pacific region is growing rapidly. Factors such as the rapidly growing healthcare sector and increasing usages of CDS systems for patient management, appointment scheduling, and medical billing, push the regional market growth. Also, the rapidly improving economy in the region defines the growing landscape of the market, increasing the penetration of healthcare technologies. The APAC CDSS market, with its untapped regions, offers immense growth opportunities to the market players.
Clinical Decision Support Systems Market – Competitive Analysis
The CDSS market appears highly competitive and fragmented, with several well-established players and new entrants churning the competition. To gain a larger competitive share, industry players adopt various strategies, such as mergers & acquisitions, collaborations, expansion, and technology launch. They make substantial R&D investments to develop a cost-effective product portfolio and to launch new software.
They strive to build state-of-the-art facilities to develop software and possess strong sales & distribution network, which can position them well in the market. Focusing on inbound lead generation, marketers look for ROI-oriented strategies that can pay off quickly.
Players active in the global CDSS market include Meditech, Epic Systems Corporation, Athenahealth, Inc, Allscripts, Carestream, Agfa-Gevaert Group, Elsevier B.V., Hearst health, and Wolters Kluwer Health, among others.
Industry/ Innovation /Related News:
April 09, 2020 —- a leading provider of advanced clinical decision support Technology Company in the US – EvidenceCare, announced the release of a free Web solution to help clinicians in the trenches diagnose and treat COVID-19. The system would be available to hospital systems, emergency room providers, urgent care companies, and telehealth providers, interfacing with patients globally.
The company has taken this decision in response to the novel coronavirus pandemic. Also, the company has initiated to gather a consortium of healthcare industry experts from leading health systems, evidence-based content vendors, and medical societies to deliver effective COVID-19 clinical pathways rapidly.
The EvidenceCare delivery mechanism would be a free, simpler version of the EHR-integrated EvidenceCare clinical decision support system (CDSS) traditionally deployed. The solution would support COVID-19 clinical care in conjunction with any EHR by delivering current, evidence-based pathways to caregivers worldwide.
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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