Global Clinical Decision Support System Market Valuation to Double-up in the Forthcoming Years
CDSS Market Outlook
Clinical decision support system, aka CDSS, is a highly important component in the healthcare IT spectrum. Over the years, with advancing technologies, the technology is gaining more and more traction across healthcare systems around the globe.
The flexible functionalities of such systems are playing a huge role in accelerating the popularity of the market. It is reported that in 2017, the market valuation of CDSS stood at USD 890 million and that figure is anticipated to be doubled by the end of the forecast period in 2023.
The importance of data-driven technologies in the healthcare landscape is aiding the growth of the global CDSS market. Some of the other drivers identified as potential accelerators of the market are the fast-paced expansion of the healthcare industry in the rapidly developing nations, the growing geriatric population, and the increasing patient influx.
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Market Segmentation
The global clinical decision support systems market is segmented in the following basis: by model, product, delivery mode, mode of advice, type, settings, and applications.
By product, the market divides into Integrated CDSS and Standalone CDSS. Herein, Integrated CDSS segment holds a majority of the market share and is projected to increase in the near future as well.
By model, the market includes knowledge-based CDSS and Non-Knowledge-based CDSS. Due to the high number of advantages it provides as compared non-knowledge-based CDSS, the knowledge-based CDSS segment holds a majority of the market portion.
By delivery mode, the market includes cloud-based and in-premise systems. The cloud-based segment holds a majority of the market share and is expected to garner a striking CAGR over the course of the review period.
By mode of advice, the market divides into active CDSS and passive CDSS. The active CDSS segment holds a large portion of the market with close to 75% of it coming under its umbrella. The market is expected to grow further in the future with the highest CAGR for the segment between 2018 and 2023.
By settings, the market segments into ambulatory care settings and inpatient settings. With over 70% of the total market share, Inpatient holds the dominant position in this segmentation and is expected to grow further in the forthcoming years.
By type, the market includes diagnostic clinical decision support system and therapeutic clinical decision support system. With the highest market share in this segmentation, the therapeutic CDSS segment holds the leading position herein.
By application, the market includes advanced clinical decision support system and conventional clinical support systems. The former is the dominant one of the two and is expected to garner a CAGR of 12.5% during the forecast period.
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Competitive Landscape
Some of the key players in the global clinical decision support system are Meditech, Cerner Corporation, Carestream, Elsevier B.V., Wolters Kluwer Health, Agfa-Gevaert Group, Athenahealth, Inc, Epic Systems Corporation, Allscripts, Hearst health and others.
March 5th, 2019, The UA College of Medicine and Banner Health have joined hands in order to use precision medicine and clinical decision support to curb down and prevent adverse reactions to medications.
Regional Analysis
The global geographical segmentation of the clinical decision support system market covers North America, Asia Pacific, the Middle East & Africa, Europe, and Latin America.
The North American regions holds the largest share of the global clinical decision support system market due to the presence of various key market players. The market players hold a significant role in developing and advancing the CDSS market. The increasing number of emergency situations in healthcare has prompted a growth in the demand for CDSS.
Europe holds the second-biggest portion of the market due to similar growth patterns. Some of the leading factors driving the market growth in this region are the growing healthcare expenditure, accessibility of advanced healthcare facilities, and the rising number of favorable initiatives undertaken by the government to advance the healthcare IT sector.
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