Global Clinical Decision Support Systems (CDSS) Market to 2025 with Impacts of COVID-19 Insights Print E-mail
By GLOBE NEWSWIRE   
Wednesday, 13 January 2021 05:33

Dublin, Jan. 13, 2021 (GLOBE NEWSWIRE)

Dublin, Jan. 13, 2021 (GLOBE NEWSWIRE) -- The "Global Clinical Decision Support Systems (CDSS) Market by Component (Services, Software), Delivery Mode, Product, Application, Model (Knowledge-based), Type (Therapeutic, Diagnostic), Interactivity (Active, Passive), Patient Care Setting and Region - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global clinical decision support system market is expected to reach USD 1.8 billion by 2025 from an estimated USD 1.2 billion in 2020 at a CAGR of 9.1% during the forecast period.

This report studies the clinical decision support system s market based on product, application, delivery mode, model, type, interactivity, settings. component and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth.

It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions and respective countries.

The key factors propelling the growth of this market are the implementation of government regulations and initiatives to promote the adoption of HIT solutions, increasing adoption of CDSS-enabled EHRs, increasing number of collaborations and partnerships between stakeholders, growing incidence of medication errors, and the rising prominence of mHealth and big data tools.

However, the high investment requirements for the implementation of CDSS and the lack of interoperability and data security concerns are expected to restrain the growth of this market during the forecast period.

Integrated CDSS is widely used by healthcare providers as it improves the quality of care

On the basis of product, the clinical decision support systems market is segmented into integrated CDSS and standalone CDSS. In 2019, the integrated CDSS segment accounted for the largest share of 70.4% of the market. This segment is projected to reach USD 1,384.8 million by 2025 from USD 859.2 million in 2020, at a CAGR of 10.0%. The large share of this segment can be attributed to the high and growing deployment of integrated CDSS.

Knowledge-based CDSS can provide reasoning in the face of uncertainties which is often required of CDSS solutions

On the basis of the system model, the market is segmented into knowledge-based CDSS and non-knowledge-based CDSS. In 2019, the knowledge-based CDSS segment accounted for the largest share of ~59% of the market. This segment is also estimated to register the highest CAGR of 10.2% during the forecast period.

The large share and high growth of this segment can be attributed to the several beneficial functionalities of knowledge-based CDSS, such as helping clinicians with knowledge-based reasoning to make clinical decisions in the face of uncertainties. These systems can also be integrated into clinical workflows and are less prone to errors as compared to non-knowledge-based systems.

Asia Pacific to witness significant growth from 2020 to 2025

Geographically, the clinical decision support systems market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World. The market in the APAC is expected to grow at the highest CAGR over the next five years. Factors such as the presence of a large geriatric population, improved government legislation, high burden of chronic diseases, and the growing focus of various market players on emerging Asian countries are expected to drive the growth of the CDSS market in Asia.

Some of the major market players in the clinical decision support systems market are Cerner (US), Epic (US), MEDITECH (US), Wolters Kluwer Health (Netherlands), Zynx Health (US), Elsevier B.V. (Netherlands), IBM Watson Health (US), Allscripts Healthcare Solutions (US), NextGen Healthcare (US), and Siemens Healthineers (Germany).

Market Dynamics

Drivers

  • Implementation of Government Regulations and Initiatives to Promote the Adoption of HIT Solutions
  • Increasing Adoption of CDSS-Enabled EHRs
  • Rising Number of Collaborations and Partnerships Between Stakeholders
  • Growing Incidence of Medication Errors
  • Rising Prominence and Usage of Big Data and mHealth Tools

Restraints

  • Data Security Concerns Related to Cloud-Based CDSS
  • Lack of Interoperability

Opportunities

  • Emerging Asian Countries
  • Technological Advancements and Social Media Integration

Challenges

  • Requirement of High Investments in Infrastructure for Implementing CDSS
  • Dearth of Skilled IT Professionals in the Healthcare Industry

Impact of COVID-19 on the Clinical Decision Support Systems Market

Ecosystem Analysis

Technology Analysis

Companies Mentioned

  • Allscripts Healthcare Solutions
  • athenahealth, Inc.
  • Cerner
  • Change Healthcare
  • CureMD
  • eClinicalWorks
  • Elsevier B.V. (A Division of RELX Group)
  • Epic Systems
  • ESCBO Health (A Division of ESCBO Industries, Inc.)
  • GE Healthcare
  • Hera-MI
  • IBM Watson Health
  • Medical Algorithms Company
  • MEDITECH
  • MTBC
  • NextGen Healthcare
  • Philips Healthcare (A Subsidiary of Royal Philips Electronics)
  • RAMPMedical
  • Siemens Healthineers
  • Wolters Kluwer Health
  • Zynx Health

For more information about this report visit https://www.researchandmarkets.com/r/toxr1s

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.


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