Clinical Decision Support Systems Market Size Is Predicted To Attain Around $791.25 Million By 2024: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, the global clinical decision support systems (CDSS) market will reach USD 791.25 million by 2024. Growing requirement for precision medicine and treatment among patients at hospitals and other healthcare centers is anticipated to propel demand for CDSS.

According to a report by Grand View Research, Inc., global clinical decision support systems (CDSS) market is anticipated to value USD 791.25 million by 2024. Growing requirement for precision medicine and treatment among patients at hospitals and other healthcare centers is anticipated to propel demand for CDSS. Such advanced systems are likely to support practitioners in offering enhance medical care and efficient decision-making in terms of drugs and treatment.

Growing adoption of advanced information systems by healthcare institutes coupled with favorable initiatives taken by governments globally can fuel market growth. CDSS are expected to be regulated by authorities such as food and drug administration (FDA). Hence, platforms introduced or in development phase are likely to fulfill criteria set by FDA. Continual advancements in field of bioinformatics and biotechnology can encourage improvement & optimization in data storage, management, and analytics platforms. This, in turn, can surge demand for CDSS. High demand for decision support based on factual evidence and real-time knowledge in developing regions can influence growth of market over the forecast period (2013 to 2024). 

Full Research Report On Clinical Decision Support Systems (CDSS) Market Analysis: https://www.grandviewresearch.com/industry-analysis/clinical-decision-support-system-market

Europe CDSS Market, By Application, 2013 - 2024 (USD Million)

The clinical decision support systems market can be segregated on the basis of product, application, delivery, component, and region. Based on product, the market can be categorized into integrated CPOE with CDSS, integrated E.H.R. with CDSS, integrated CDSS with CPOE & E.H.R., and standalone CDSS.

 Based on application, the market can be classified into drug-drug interactions, drug allergy alerts, clinical reminders, clinical guidelines, drug dosing support, others. CDSS can provide results that predict drug interaction and patient’s response, administered with particular dosage. This, in turn, can support practitioner to make appropriate decision for treatment. When the system is entered with patient’s history and medical records, it can provide list of possible medication and support practitioners.

In addition, it can offer list of possible drug allergies related to particular drug or combination of drugs being prescribed. Moreover, it can also deliver list of possible drug-drug interactions that can alert regarding possible reactions for combination of drugs being prescribed. This, in turn, can prevent side effects or adverse drug reactions.

Based on delivery, the market can be segmented into cloud delivery, web delivery, and on premises delivery. In 2016, on-premise segment dominated the market and accounted for largest market share attributed to rising information safety issues and privacy. It is expected to grow at similar pace during the forecast period.

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Global CDSS market revenue, by delivery mode, 2016 (%)

Similarly, cloud delivery segment is likely to contribute well to growth of market over the forecast period attributed to increasing volume of medical data available. Continual innovations are likely to support collection of medical data. Food and drug administration (FDA) approvals for combination of treatment of complicated health conditions such as neurodegeneration and cancer are likely to increase in past years. Storage and handling of data on large scale can be tough for individual systems. Hence, cloud delivery is likely to play significant role in managing huge data and witness high demand in coming years.

Based on component, the market can be separated into hardware, software, and services. Services segment is estimated to witness significant growth over the forecast period. Frequent upgradations of software and knowledge base available for use can fuel growth. In addition, high cost associated with premium access to latest and accurate data can generate substantial revenue for this segment.

Regional segmentation includes Europe, North America, Asia Pacific, Latin America, and Middle East & Africa. In 2016, North America dominated the market and accounted for largest market share. High demand for healthcare information technology solutions in medical sector is expected to influence growth of market. In addition, increasing emphasis on quality healthcare services coupled with continual technological advancements can fuel market growth in the region.

On the contrary, Asia Pacific is predicted to grow fast during the forecast period attributed to rising investments in healthcare sector in countries such as India, China, Australia, and Singapore. The market is expected to grow at CAGR of 8% in this region over next few years.

Some of the leading companies offering clinical decision support systems are Philips Healthcare, Agfa Healthcare; McKesson Corporation; NextGen Healthcare Information Systems, and Siemens Healthineers.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com

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