Research Reports
Clinical Decision Support System (CDSS) Market Size To Reach USD 2.41 Billion By 2027 – Reports and Data
The high prevalence of chronic diseases is one of the significant factors influencing the market growth. The global clinical decision support system (CDSS) market is expected to reach USD 2.41 Billion by 2027, according to a new report by Reports and Data. The increasing incidences of chronic diseases across different parts of the globe would impact the…
The post Clinical Decision Support System (CDSS) Market Size To Reach USD 2.41 Billion By 2027 – Reports and Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.
The high prevalence of chronic diseases is one of the significant factors influencing the market growth.
The global clinical decision support system (CDSS) market is expected to reach USD 2.41 Billion by 2027, according to a new report by Reports and Data. The increasing incidences of chronic diseases across different parts of the globe would impact the clinical decision support system (CDSS) market positively. The increasing instances of chronic disorder would lead to an increased number of patients entering the hospitals, which would increase the amount of data at the hospitals’ end. Thus, a precise and error-free tool for handling the data would be an inevitable need, where CDSS would come into play. For instance, Machine learning has operated a CDS device at the University of Pennsylvania that reduces the time for sepsis diagnosis by 12 hours, which could be the difference between life and death for many people. For research, the algorithm used data from more than 160,000 patients and was validated on a survey of another 10,000 people.
The role of government plays an important in bringing any new system or technology in the culture of the healthcare industry. A clinical decision support system is an expensive phenomenon, hence an initial stage of the launch of this system, the financial support, and awareness spread by the government would play an essential role in this industry. This would ultimately improve the healthcare condition of the respective country. For instance, initiated in November 2015, China’s 13th Five-Year Plan (FYP) focused on transforming the healthcare services in the region. State spending on healthcare in China increased from 15% in 1999 to 30% in 2013, and out-of-pocket expenditures dropped from 60% to 34%. In China, IT is being used to revolutionize hospitals, drug development, and delivery. In China, the use of mobile health technology (mHealth) is growing to boost communication with rural/remote areas.
However, the cost of implementing a clinical decision support system is not pocket friendly for all hospital and clinical centers and may hamper the market growth in the upcoming years. Such systems ‘ servicing and software upgrading costs can sometimes be more than the real product size.
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COVID-19 Impact
The clinical decision support system aids clinicians in diagnosing and treating COVID-19. It is of immense importance to hospital systems, emergency care companies, emergency room providers, and telehealth service providers dynamically coming across COVID-19 patients all across the globe. CDSS helps to associate of healthcare industry experts from major health systems, medical societies, and evidence-based content vendors, among others, to swiftly provide effective clinical pathways for COVID-19. These pathways assist in streamlining the service provider’s workflow by organizing clinical documentation with each collaboration and offering the most current diagnosis and appropriate treatment information obtainable based on the patient’s showing symptoms, comorbidity, and severity.
Further key findings from the report suggest
- By component, services contributed to the largest market share of over 60.0% in 2019 and are likely to grow at a rate of 9.1% in the forecast period. The market dominance of services is attributed to the offering of services, comprising consulting, training, ad maintenance, among others, on a continuous basis to the end-users such as hospitals and clinics.
- By product, integrated CDSS held a larger market share in 2019 and is estimated to observe a faster growth rate of 10.2% in the forecast period, owing to the widespread demand for clinical decision support system solutions with functionalities to collaborate and exchange information amongst themselves.
- By level of interactivity, passive CDSS is anticipated to grow at a faster rate of 11.0% in the forecast period, as a passive CDSS offers referential links to evidence-based content and resources. The hospitals and clinics, among other end-users, deploy these links to make decisions (for example, for evidence-based guidelines, drug libraries, agency policies, and bibliographic searches, among others).
- By application, drug databases dominated the market in 2019 and are likely to grow at the fastest rate of 10.6% during the forecast period. Rising prevalence of allergies especially, drug allergies, is driving the demand for a clinical decision support system for recommending, dispensing, or administering a drug to reduce the medication error that may occur and lead to adverse consequences.
- North America held the largest market share in 2019 and is projected to grow at a rate of 8.5% in the forecast period. The market dominance of the region is owing to rising advancement in technology, high awareness among patients, and increasing focus on providing better healthcare services, among others.
- Key participants include Cerner Corporation, Epic Systems Corporation, Zynx Health, Allscripts Healthcare Solutions Inc., IBM, McKesson Corporation, Siemens Healthineers, Meditech, Philips Healthcare, and Wolters Kluwer Health, among others.
- In November 2019, Allscripts Healthcare Solutions entered into a partnership with San Gorgonio Memorial Hospital, which has chosen its electronic health record (EHR) suite SunriseTM Community Care built particularly for community hospitals.
- In October 2019, Zynx Health launched an innovative tool known as Import Manager, which delivers efficient import of data from Cerner EHRs systems to Zynx Health’s knowledge management solution.
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For the purpose of this report, Reports and Data have segmented the global clinical decision support system (CDSS) market on the basis of component, product, type, mode of delivery, level of interactivity, setting outlook, usage, application, end-use, and region:
Component Outlook (Revenue, USD Million; 2017-2027)
- Services
- Hardware
- Software
Product Outlook (Revenue, USD Million; 2017-2027)
- Integrated CDSS
- Standalone CDSS
Type Outlook (Revenue, USD Million; 2017-2027)
- Therapeutic CDSS
- Diagnostic CDSS
Mode of Delivery Outlook (Revenue, USD Million; 2017-2027)
- On-Premise CDSS
- Web-Based CDSS
- Cloud-Based CDSS
Level of Interactivity Outlook (Revenue, USD Million; 2017-2027)
- Active CDSS
- Passive CDSS
Setting Outlook (Revenue, USD Million; 2017-2027)
- Inpatient
- Ambulatory Care
Usage Outlook (Revenue, USD Million; 2017-2027)
- Knowledge-Based
- Expert Laboratory Information System
- Machine Learning Systems
Application Outlook (Revenue, USD Million; 2017-2027)
- Drug Databases
- Care Plans
- Diagnostic Decision Support
- Disease Reference
- Others
End-use Outlook (Revenue, USD Million; 2017-2027)
- Hospitals
- Diagnostic Centers
- Clinics
- Retail Pharmacies
- Others
Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- MEA
Key Questions Answered by the Report:
- What are the key growth driving and restraining factors of the Clinical Decision Support System (CDSS) market?
- What are key opportunities and growth prospects of the Clinical Decision Support System (CDSS) industry is expected to witness over the forecast period?
- Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
- Which region is expected to dominate the market growth over the forecast period?
- Which segments are expected to register lucrative growth over the forecast period?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?
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The post Clinical Decision Support System (CDSS) Market Size To Reach USD 2.41 Billion By 2027 – Reports and Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.
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