Status : Published Published On : Apr, 2020 Report Code : VRHC1100 Industry : Healthcare Available Format : Page : 147

Global Clinical Decision Support System Market – Analysis and Forecast (2019-2025)

Industry Insights by Component (Software, Hardware, Services), by Type (Conventional, Advanced), by Product (Integrated, Standalone), by Model (Knowledge-Based, Non-Knowledge-Based), Delivery Mode (Web-Based, On-Premise, Cloud-Based), by Application (Drug Dosing Support, Drug Allergy Alert, Drug-Drug Interaction, Clinical Guideline, Clinical Reminder, Others)

Industry Overview

Valued at USD 1.2 billion in 2019, the global clinical decision support system (CDSS) market is predicted to reach USD 2.5 billion by 2025, witnessing a CAGR of 13.6% during the forecast period (2020–2025). Increasing adoption of information systems by the healthcare organizations and satisfactory initiatives taken by several government bodies worldwide are accelerating the growth of the global market. Due to government support & initiatives, quality care and precision medicine & usages of big data and mhealth applications, excellent returns on investment, and increasing adoption of cloud computing in healthcare are also driving the growth of the global CDSS market.

Clinical Decision Support System Market Highlights

Clinical decision support system refers to software that is designed to influence clinician decision making about individual patients at the point in time. Growing demand for quality care and integrated reliable technical solutions is one of the major trends witnessed in the market. Different types of products such as integrated and standalone are majorly contributing to the clinical decision support system market size.

Market Segmentation

Insight by Component

On the basis of component, the global clinical decision support system market is classified into three types; software, hardware, and services, of which software holds the largest share in the clinical decision support system market, globally. Repeated characteristics of services such as consulting, installation, training and development, software upgrades, and maintenance led to the fastest growth of the services segment during the historical period, which is also predicted to continue during the forecast period.

Insight by Type

During the forecast period, advanced category, on the basis of type, would witness faster growth in the global clinical decision support system market, due to healthcare organizations endeavoring to upgrade CDSS systems which execute functions such as protocol validation, population health management, health economics management, and treatment planning. Moreover, of all types, conventional category accounted the larger share in the clinical decision support system market.

Insight by Product

In the coming years, the integrated category, on the basis of product, is projected to witness highest global clinical decision support system market CAGR. However, among all products, integrated category dominated the global clinical decision support system market in 2019, due to escalating implementations of integrated CDSS. Due to increasing acceptance of EHR by large and medium healthcare organizations are poised to influence share of clinical decision support system integrated with EHR.

Insight by Model

On the basis of the model, the global clinical decision support system market is bifurcated into knowledge-based, and non-knowledge-based. Between these, knowledge-based category accounted the larger share in the market in 2019 and is also predicted to witness higher growth during the forecast period in the global clinical decision support system market, due to various advantageous functionalities, such as helping clinicians to make clinical decisions in the case of doubts. These systems can also be integrated into clinical workflows and are less prone to errors as compared to non-knowledge-based systems.

Insight by Delivery Mode

On the basis of the delivery mode, the market is bifurcated into web-based, on-premise, and cloud-based. Between these, the clinical decision support system market size for cloud-based is expected to grow at a faster rate during the forecast period, globally, due to its affordability, scalability, and affordability, and the lower capital expenses and operational costs. In addition, of all delivery modes, web-based accounted for the largest share of the market.

Insight by Application

On the basis of the application, the market is categorized into drug dosing support, drug allergy alert, drug-drug interaction, clinical guideline, clinical reminder, and others. Of all, the clinical decision support system market size for a clinical reminder is expected to grow at the fastest rate during the forecast period, globally. In addition, of all applications, drug allergy alert accounted for the largest share of the market.

Industry Dynamics

Growth Drivers

The key drivers driving the growth of the global clinical decision support system market are the rising occurrence of chronic diseases, budding implementation of cloud computing in healthcare, rising aging population, increasing government support and initiatives, the increasing chance of medication errors, and high returns on investment for CDSS solutions.

Some of the other key factors driving the growth of the industry are the technological advancements in healthcare IT solutions, mounting importance, and usage of big data and mhealth tools, and escalating partnerships between medical research groups and clinical decision support companies.

In 2017, global digital health funding increased by 42% to USD 7.2 billion, of which CDSS received USD 514 million. Such funding helps CDSS companies and medical research groups to invest and partner to provide new innovative solutions. Such partnerships help develop CDSS tools enabling healthcare providers and their patients to make the best decision based on specific circumstances. For instance, in September 2017, Mayo Clinic (US) partnered with the National Decision Support Company (NDSC) (US) to develop a CDS tool “CareSelect Lab” comprising recommendations for lab test ordering. This tool is an extension of NDSC’s capabilities to deliver EHR-integrated guidelines and brings together the industry standard for EHR-delivered guidance with the more than 1,500 best-practice care models—authored, curated and maintained by Mayo Clinic. In September 2017, Mayo Clinic also partnered with Epic Systems (US) to offer its secure, web-based symptom assessment tool “Ask Mayo Clinic” through “Epic MyChart,” assisting patients in managing their own care. Such partnerships offer potential growth opportunities for market players, which is also likely to drive the adoption of CDSS solutions.

Challenges

Some of the major factors hampering the growth of the clinical decision support system market are the data security issues, disinclination to accept mobile CDSS, huge investment for information technology infrastructure, and lack of interoperability. In addition, the lack of skilled professionals, and the integration of CDSS solutions within healthcare organizations are also having a negative impact on the growth of the market.

Geographic Overview

Geographically, North America was the largest clinical decision support system market in 2019, as in the region, occurrence of medication errors is increasing, and the increasing requirement for quality healthcare delivery. In addition, the key factors driving the growth of the North American market are regulatory mandates, growing healthcare IT expenditure, technological advancements in healthcare IT solutions, and rising occurrence of chronic diseases.

Asia-Pacific market is predicted to witness fastest growth in the global clinical decision support system market during the forecast period, as the region comprises a large population base. Furthermore, the increasing number of chronic disease patients, and increasing chance of medication errors are also supporting the growth of the Asia-Pacific clinical decision support system industry.

Competitive Insight

In the recent years, numerous clinical decision support system market players have looked at an investing capital to develop technologically advanced systems as an effective strategic move to augment their revenue and get an edge over other companies offering these systems.

The major players in the global clinical decision support system market are Wolters Kluwer Health, Cerner Corporation, Philips Healthcare, IBM Corporation, Hearst Health, Epic Systems Corporation, Allscripts Healthcare Solutions, Inc., Mckesson Corporation, and MEDITECH.

Primary Research

VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry includes, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behaviour.

Clinical Decision Support System Market Size

Source: VynZ Research

Clinical Decision Support System Market Size

Source: VynZ Research

Frequently Asked Questions

The global clinical decision support system (CDSS) market was valued at USD 1.2 billion in 2019.
On the basis of type, conventional category accounted the larger share in the clinical decision support system market.
The global clinical decision support system (CDSS) market is predicted to reach USD 2.5 billion by 2025, witnessing a CAGR of 13.6% during the forecast period (2020�2025).
Some of the major factors hampering the growth of the clinical decision support system market are the data security issues, disinclination to accept mobile CDSS, huge investment for information technology infrastructure, and lack of interoperability.
North America was the largest clinical decision support system market in 2019.

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle
Clinical Decision Support System Market