Report ID: SQSG45F2024 | Region: Global | Published Date: October, 2022 | Pages: 165
Global Clinical Decision Support System Market Size was valued at USD 1.43 billion in 2021. It is expected to reach a value of USD 2.41 billion by 2028, at a CAGR of 7.8% over the forecast period (2022-2028).
One of the primary factors driving the market's growth is the increasing demand for trustworthy technical solutions that are integrated into high-quality care. The market is expanding as a result of more hospitals and healthcare facilities implementing information systems, as well as beneficial global government efforts. Authorities like the FDA impose rigorous regulations on clinical decision support systems. Platforms that have been introduced or are still in the development stage must therefore meet pertinent standards stipulated by the FDA and CE Mark. Competitors must also ensure that information technology and cyber regulations are not broken in order to ensure the integrity of their products.
Initiatives have been done by CDSS vendors and groups to assist stop the epidemic. As it demonstrated how healthcare teams can stay up to date on the newest COVID information and intelligence, helping to increase the quality of the care they give, CDSS has grown into a crucial weapon in the fight against COVID-19. In individuals with a moderate to high chance of COVID-19, the Infectious Diseases Society of America recommended repeating a COVID-19 test. There was, however, little guidance as to what circumstances made a patient more or less likely to get the infection. At Massachusetts General Hospital, an infectious disease team was on duty constantly. Consequently, focused efforts resulted in the creation of a CDS tool known as COvid Risk cALculator (CORAL). The EHR has the tool integrated into it. This should have a favourable effect on market expansion. Additionally, CORAL's outpatient version was unveiled in October 2021. The only algorithm that has been included into ordinary, prospective physician workflow through an EHR CDSS is CORAL, which has maintained its exclusivity.
The COVID-19 outbreak has put medical practices of all sizes under a great deal of stress, and healthcare facilities around the world are being overrun by the large number of patients who are visiting them each day. The emergence of this pandemic has increased demand for precise diagnostic and therapeutic tools in numerous nations around the world. Clinical decision support systems have proven to be helpful in this regard because they enable healthcare professionals and organisations to monitor patients using a variety of tools, like home blood pressure monitors and pulse oximeters. In addition, the rapid global spread of this disease has led to a shortage of hospital beds and medical personnel. This has increased the need for connected medical devices for monitoring vital signs.
Additionally, due to the pandemic, there was a greater requirement for social distance between doctors and patients, which boosted the demand for CDSS solutions and a quick and accurate transmission of patient health records. Many market participants have included COVID-19-related functionality into their current EHRs, which are freely accessible to users.
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Global Clinical Decision Support System Market is segmented based on Product, Application, Delivery Mode, Component, and Region. Based on Product the market is further sub segmented into Standalone CDSS, Integrated CPOE with CDSS, Integrated E.H.R. with CDSS, Integrated CDSS with CPOE & E.H.R. Based on Application the market is further sub segmented into Drug-drug Interactions, Drug Allergy Alerts, Clinical Reminders, Clinical Guidelines, Drug Dosing Support, Others , Based on Delivery Mode the market is further sub segmented into Web-based Systems, Cloud-based Systems, On-premise Systems. Based on Component the market is further sub segmented into Hardware, Software, Services. Based on Region the market is further sub-segments into North America, Europe, Asia Pacific, Latin America, MEA.
Analysis Based on Product
Due to its simplicity and low cost, standalone CDSS held the greatest revenue share of nearly 30.0% in 2021. Its expansion has been facilitated by its simplicity of usage in clinical and hospital settings. For the whole duration of the forecast, the standalone category will continue to rule the market. Products from CDSS can be purchased independently, in conjunction with EHR or CPOE, or both.
Over the projected period, it is expected that the integrated EHR with CDSS segment will grow profitably. The multi-specialty healthcare units' growing awareness and EHR adoption is expected to have an impact on the segment's growth for integrated EHR with CDSS. When CDS systems and EHR are combined, the patient information and medical history are given to CDSS, which can then offer clinical advice and suggest treatments to the practitioner, automating the clinical workflow. To simplify processes and take advantage of current data sets, CDSS and EHRs are frequently connected. A growing number of CDSS features are being incorporated into EHR systems, which is expected to boost segment expansion.
Analysis Based on Application
In 2021, drug allergy alerts accounted for the greatest revenue portion (25.0%). Many people have allergies to particular medications, therefore it's critical to have systems that deliver allergy alerts. Drug allergies, as a subset of allergies, are becoming more prevalent. A medication error may occur during the prescribing, dispensing, or administration of a drug and may have negative consequences, such as the administration of medication to a patient who has a known drug allergy.
Over the projection period, the clinical guidelines segment is expected to increase profitably. The CDS system provides recommendations for both diagnosis and treatment. It pulls information from the knowledge base and uses it for treatment, giving the practitioner practical recommendations to follow throughout the duration of the treatment. This raises the standard of care.
Analysis Based on Component
In 2021, the services sector had the highest revenue share at nearly 40.0%. This is as a result of regular programme updates and the usable knowledge base. The upkeep of parts and their accessories falls under the category of CDSS services. It offers a knowledge database with the newest inventions and drugs, as well as hardware and software upgrades.
Over the projected period, it is expected that the software segment will grow profitably. The CDSS software offers improved decision assistance by producing tailored and unique outcomes for the given patient when used in connection with software for CPOE and EHRs. Over the course of the forecast period, new developments in technical support and software compatibility are predicted to drive the market.
Analysis Based on Delivery mode
In terms of revenue share, the on-premise systems market accounted for more than 40.0% in 2021. In 2021, cloud-based solutions had the second-highest revenue share because of major information technology advancements that could find use in the healthcare industry. Major drivers of this segment's growth include cost effectiveness and dependability. Platform as a Service (PaaS), which develops an operating system to run the software, Infrastructure as a Service (IaaS), which uses virtual technology to create a user interface to provide the services, and Software as a Service (SaaS), which is the most crucial component of the cloud provider as it enables them to run, install, and manage software to provide services to the end user, are the three main services provided under cloud computing.
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A large portion of the global market for clinical decision support systems is expected to be dominated by North America due to the region's higher adoption of clinical decision systems by healthcare organisations. In addition, the introduction of new technologies to integrate existing data handling systems, such as EHR and clinical decision systems, are providing patients with predictive scenarios, which are responsible for better patient experience and treatment.
Due to the region's rapidly expanding patient population and growing demand for software assistance in managing this expanding patient population, Asia Pacific has enormous potential for growth of the world's clinical decision support systems. Additionally, it is expected that increased cooperation between healthcare organisations and information technology firms for the development of new systems will accelerate the growth of clinical decision support systems globally in the Asia Pacific region.
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The market is indeed not overly highly competitive. The market has been distinguished by the presence of prominent participants as well as other clinical decision support system suppliers. To gain a competitive advantage over one another, these players engage in new product launches, product innovations, acquisitions, and partnerships.
For instance, Change Healthcare unveiled InterQual 2021 in April 2021, the most recent iteration of the company's premier CDS solution. This update includes a significant amount of evidence-based content updates and enhancements, including new COVID-19 patient guidance, discussion of social determinants of health, and appropriate use of telehealth. It also includes four novel Medicare criteria elements. Additionally, DHIndia announced a collaboration with [email protected] & HealtheLife to create a CDSS for the screening of COVID-19 in May 2021. A front-line doctor's simple triage application was also created as part of the agreement. In the market for clinical decision support systems (CDSS), some significant companies are
Top Player’s Company Profiles
The growth of partnerships between CDSS providers and hospitals has significantly increased during the last few years. The demand is expected to rise even more as a result of government recognition and activities to promote the deployment of CDSS and EHR systems. By lowering the amount of time spent looking up a patient's medical history and records, integration with electronic health records (EHR) increases the effectiveness of clinical care. Additionally, the Health and Medicare Acts of the United States Government have approved CDSS, financially rewarding CDS integration into EHRs (Electronic Health Records). A CDSS was present in approximately 41% of American hospitals with an EHR in 2021, and a cutting-edge CDS was available in 40.2% of American hospitals in 2021. Additionally, businesses collaborate to create and offer software that is updated with the most recent data.
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According to our analysis, the standalone CDSS dominated the global Clinical Decision support System Market in 2021 and is expected to maintain its dominance throughout the forecast period. In 2021, the North America dominated the global Clinical Decision support System Market owing to the region's highly aware and economically stable population.
|Market size value in 2028||USD 2.41 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Clinical Decision Support System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Clinical Decision Support System Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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