By 2027, the global market for clinical decision support systems is estimated to be worth USD 1759.4 million, up from USD 1007.3 million in 2022. During the predicted period, it will grow at a CAGR of 11.8 percent.
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The COVID-19 pandemic has the potential to boost the clinical decision support system market’s growth pace. These methods are beneficial to coronavirus patients because they predict the severity of the infection, allowing healthcare providers to provide appropriate treatment. Hospitals in Wuhan used these devices to treat 299 patients with critical illnesses from December 2019 to February 2020. The approaches’ accuracy ranged from 74.4 percent to 87.5 percent. As a result, hospitals all across the world are planning to use these technologies during the COVID-19 outbreak. Demand for this sector will continue to expand even after the COVID-19 problem has been resolved, owing to its numerous advantages.
One of the key drivers driving the worldwide clinical decision support systems market is the increase in the incidence of chronic diseases year over year.
Creating awareness through digital platforms has a big positive impact on the market’s development. Furthermore, the introduction of innovative technologies in favour of end-users contributes significantly to the market’s growth rate.
The fundamental goal of the market players is to make clinical decision support systems more standard-based and open to the public. The aforementioned component is the sole driver of market demand. In addition, the worldwide clinical decision support systems market is expected to rise at a faster rate due to increased government funding in the healthcare industry.
A medication error is an unanticipated failure in the drug treatment process that can have a negative impact on patients’ health. Prescription errors, dispensing errors, storage errors, preparation errors, and administration errors are the most common preventable causes of unwanted adverse outcomes, and they pose a significant public health threat. Patients and healthcare providers will receive better care if they have access to complete and accurate EHRs that have a complete patient illness history. Such records can help doctors make better diagnoses, avoid mistakes, save time, and even shorten patient wait times. For hospitals and clinicians to provide quality treatment, CDSS and its accompanying technologies must be implemented and used successfully, which is hastening their acceptance around the world.
The CDSS market in Asia is predicted to increase due to a variety of factors, including the implementation of government policies boosting the adoption of HCIT solutions, rising government healthcare expenditure, and the availability of qualified IT experts in emerging Asian countries like China and India. Authorities in China are concentrating on revamping the country’s healthcare management sector, which is currently confronting issues such as a statewide scarcity of doctors, underfunded rural health centres, overburdened metropolis hospitals, and a confusing patient data system.
The Indian government launched the Digital India campaign in July 2015 to ensure that residents may access government services electronically by strengthening the country’s IT infrastructure and Internet connectivity. The e-health effort under the Digital India campaign will involve the integration of patient EHRs into a ‘digital locker’ that may be kept for a lifetime. The government released EMR/EHR Standards in September 2013, which were amended in December 2016. Similarly, the CDSS market in Japan is predicted to increase rapidly as the senior population grows, the incidence of lifestyle diseases rises, and strong government initiatives such as the e-Japan policy, the new IT reform plan, and the i-Japan Strategy 2015 are implemented.
The global clinical decision support systems market’s growth pace is being slowed by a scarcity of experienced technicians who can monitor real-time difficulties.
The clinical decision support systems market’s growth pace is being slowed by price fluctuations in raw materials and rising device costs. For market players, the government’s strict laws and regulations for approving innovative items for public safety are key obstacles. Lack of adequate knowledge of how the devices are used in diagnostic centres due to a lack of training programmes is another factor limiting market demand.
Data housed by the vendor is not as secure as data hosted on-premise, which is a big problem with cloud-based CDSS. Patient data is deemed confidential, and it must be kept private so that only authorised people have access to it. Legal systems, including as HIPAA’s data privacy standards, have been scrutinising patient information across countries (Health Insurance Portability and Accountability Act). Similar to the United States, the European Union has enacted the EU Data Protection Regulation, which has consequences for the protection of sensitive health data. Protected health information (PHI) on a patient cannot be moved out of the country of origin in many countries. The public cloud, like traditional IT systems, has security vulnerabilities and is thus not recommended. Despite the fact that private clouds provide greater access procedures and systems, the healthcare business is sceptical of their efficacy.
As of June 2020, over 81 percent of healthcare businesses had experienced cloud data security breaches, according to a survey done by Ermetic, a cybersecurity investigation firm. In almost 31.25 percent of healthcare businesses, user access was denied as a result of a breach. Due to the necessity for access to patient data across many departments, major data security risks develop. As a result, security flaws emerge, which hackers might exploit to get access to critical information. As a result, a number of large hospitals continue to prefer on-premise solutions to cloud-based options.
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KEY MARKET INSIGHTS:
- Based on the component, the hardware segment has the biggest market share, but the software segment is likely to grow rapidly in the next years. The growing availability of low-cost raw materials in both developed and emerging countries is a crucial factor contributing to this segment’s high market share. The services segment is predicted to grow during the forecast period.
- Clinical decision support systems are in great demand due to advances in CDSS technology, a high percentage of patient awareness, and growing healthcare IT spending in the region. In addition, in 2019, the average per capita health expenditure in the United States was approximately USD 11,072. As a result, the market’s future growth will be driven by an increase in acceptance and usage in the country.
- These initiatives could help drive the CDSS market in North America to new heights during the next few years.
- Geographically, the European CDSS market held a 32 percent share of the worldwide CDSS market in 2020 and is predicted to continue to develop at a healthy rate throughout the forecast period.
- During the projected period, Germany’s CDSS market is expected to lead the European market. The Y-O-Y surge in the incidence of chronic diseases and the baby boomer generation are driving the German CDSS industry. Growing government initiatives to reform Germany’s healthcare system should provide attractive prospects. In the German CDSS market, Siemens Healthcare is one of the most important players. Siemens Healthcare announced the acquisition of Medical is Corporation in October 2017 in order to broaden the tools available to hospitals and healthcare organisations to manage population health programmes.
- Because of the increased adoption rate of modern healthcare IT systems like as HER, the UK CDSS market is expected to be another attractive regional market in the European industry.
- The leading players in the worldwide clinical decision support systems market are Wolters Kluwer Health, Hearst Health, and Elsevier B.V. Other prominent firms include Cerner Corporation, McKesson Corporation, Epic Systems Corporation, MEDITECH, Philips Healthcare, and International Business Machines, as well as Allscripts Healthcare Solutions, Inc.
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SEGMENTS INCLUDED IN THIS REPORT:
- By Component: Hardware, Software and Services
- By Delivery Mode: Cloud-based and On-premise
- By Product: Standalone CDSS and Integrated CDSS
- By Type: Therapeutic CDSS and Diagnostic CDSS
- By Model: Knowledge-based CDSS and Non-Knowledge-based CDSS
- By User Interactivity: Active CDSS and Passive CDSS
- By Application: Conventional CDSS and Advanced CDSS
- By Setting: Inpatient Settings and Ambulatory Care Settings
- By Region: North America, Europe, APAC, Latin America, Middle East and Africa
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