The global clinical decision support systems (CDSS) market size is estimated to reach USD 791.25 million by 2024, according to a new report by Grand View Research, Inc., progressing at a CAGR of 6.7% during the forecast period. Surging demand for quality care is one of the primary factors augmenting the market. Constant lookout for reliable technology solutions by care providers is also expected to work in favor of the market. Growing interest in enhanced medical care and efficient decision-making is projected to fuel adoption of CDSS and EHR.
CDSS industry includes products that provide knowledge-based and evidence-based solutions to practitioners. Decision support in critical health situation proves to be of significant importance. Furthermore, these systems analyze patient medical records and provide a list of possible solutions from which the most appropriate is to be selected.
Easy compatibility and interoperability of systems with different platforms have enhanced growth prospects of the market. Collaborative efforts of researchers and software developers to make medical knowledge available to users are anticipated to contribute towards lucrative revenue generation over the forecast period. Furthermore, collaborations intended by market participants for availing licensed product platforms for CDSS is likely to influence the growth of the market positively.
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Further key findings from the study suggest:
Standalone CDSS accounted for the largest share of market revenue in 2016 owing to its low cost. The segment is estimated to hold approximately 36.0% of the overall market by 2024
The CDSS integrated with CPOE segment is poised experience noteworthy growth over the coming years due to rapid adoption of healthcare IT solutions by clinicians
Drug allergy alerts made the highest contribution to market revenue generation in 2016. The segment is expected to expand at a CAGR of 6.4% between 2017 and 2024
Domicile of a large number of key players and high adoption of advanced technologies are anticipated to contribute to the dominance of North America. However, Asia Pacific is estimated to witness the highest CAGR of 7.8% during the forecast period
Key players operating in this industry include Agfa healthcare; McKesson Corporation; NextGen Healthcare Information Systems; Medical Information Technology Inc; Carestream Health Inc.; AthenaHealth; Philips Healthcare; Wolters Kluwer NU; Cerner Corporation; and Siemens Healthineers. Collaboration with IT companies to develop innovative products and enhance existing platforms is likely to help key players to stay ahead in the market.
Grand View Research has segmented global clinical decision support systems (CDSS) market on the basis of product, application, delivery mode, component, and region:
Clinical Decision Support Systems Product Outlook (Revenue, USD Million, 2013 – 2024)
Integrated CPOE with CDSS
Integrated E.H.R. with CDSS
Integrated CDSS with CPOE & E.H.R.
Clinical Decision Support Systems Application Outlook (Revenue, USD Million, 2013 – 2024)
Drug allergy alerts
Drug dosing support
Clinical Decision Support Systems Delivery Mode Outlook (Revenue, USD Million, 2013 – 2024)
On Premises Delivery
Clinical Decision Support Systems Component Outlook (Revenue, USD Million, 2013 – 2024)
Clinical Decision Support Systems Regional Outlook (Revenue, USD Million, 2013 – 2024)
Middle East and Africa (MEA)
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.