Clinical Decision Support Systems/CDSS Market Size, Share Revenue to Grow At 9.8% CAGR Through 2027

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New York, United States: The Report on Clinical Decision Support Systems/CDSS Market by Decisive Markets Insights was released in the middle of Covid -19 after a thorough analysis of the top players and primary interviews with key industry figures. A market study from Clinical Decision Support Systems/CDSS Market examines the market size, segmentation, future trends, growth rate, drivers and challenges, as well as the sales channels and distributors.

The global Clinical Decision Support Systems/CDSS market garnered revenue around USD 1.4 Billion in 2020 and projected to reach USD 2.1 Billion in 2027, with at a compound annual growth rate (CAGR) of 9.8% throughout the estimate period from 2020 to 2027.

Overview of Clinical Decision Support Systems/CDSS Market Study

Clinical Decision Support Systems/CDSS market study conducted by Nova One Advisor is intended at helping stakeholders get a comprehensive overview of potential challenges and undiscovered opportunities. The report offers exclusive insights to help companies and their customers to make informed decision to sustain growth through the assessment period.

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.

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Growth Factors:

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.

Clinical decision support system Market Dynamics
Drivers: Growing incidence of medication error
A medication error is an unintended failure in the drug treatment process that has the potential to adversely affect the health of patients. Mistakes in the prescribing, dispensing, storing, preparation, and administration of medicine are the most common preventable causes of undesired adverse events and present a major public health burden. Proper care is assured when patients and healthcare providers are given access to complete and accurate EHRs that provide a comprehensive patient illness history. Such records can improve diagnoses, prevent errors, save time, and even decrease waiting periods for patients. To achieve quality care, the implementation and successful utilization of CDSS and its complementary systems are mandatory for hospitals and physicians, which is accelerating their adoption across the globe.

Restrains: Data security concerns related to cloud based CDSS
A major concern with cloud based CDSS is that data hosted by the vendor is not as secure as its on-premise counterpart. Patient information is considered sensitive, and a high degree of privacy needs to be maintained so that this information is accessible to authorized users only. Patient information across countries has been under the scanner of legal frameworks, such as the data privacy requirements legislated through HIPAA (Health Insurance Portability and Accountability Act). Similarly, the European Union has the EU Data Protection Regulation in place with implications for the protection of sensitive health data. In many countries, a patient’s protected health information (PHI) cannot be moved out of the country of origin. Public cloud faces the same security issues as traditional IT systems and is therefore not preferred. Although private clouds offer more access protocols and systems, the healthcare industry is not assured of its effectiveness.

According to a study conducted by Ermetic, a cybersecurity investigation company, nearly 81% of healthcare organizations have experienced cloud data security breaches in the last 18 months, as of June 2020. Around 31.25% of healthcare organizations experienced breaches where user access was denied. Major concerns related to data security also arise owing to the need for access to patient data through multiple departments. This, in turn, creates security gaps, which can be exploited by hackers to gain access to sensitive information. Thus, several large hospitals still prefer on-premise solutions over cloud-based solutions.

Opportunities: Emerging Asian countries
A number of factors, such as the implementation of government initiatives supporting the adoption of HCIT solutions, rising government healthcare expenditure, and the presence of skilled IT experts in emerging Asian countries, such as China and India, are expected to support the growth of the CDSS market in Asia. Technological advancements are playing a key role as authorities in China are focusing on reforming the country’s healthcare management sector, which is currently facing challenges such as chaotic patient data, underfunded rural health centres, overburdened city hospitals, and a nationwide shortage of doctors.

The Indian government started the Digital India campaign in July 2015 to ensure that government services are made available to citizens electronically by improving IT infrastructure and improving Internet connectivity in the country. Under the Digital India campaign, the e-health initiative will involve the integration of patient EHRs in a ‘digital locker’ that can be maintained over a lifetime. In this regard, the government issued EMR/EHR Standards in September 2013, which were further revised in December 2016. Similarly, the CDSS market in Japan is expected to grow significantly owing to the rising geriatric population, growing incidence of lifestyle diseases, and strong government initiatives such as the e-Japan policy, the new IT reform strategy, and i-Japan Strategy 2015.

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.

Rising need to control the cost of healthcare to drive the demand for CDSS in ambulatory care settings
Based on the level of interactivity, the CDSS market can be segmented into active CDSS and passive CDSS. The active CDSS segment accounted for the largest share of 58.9% of the market in 2019 and is also projected to grow at the highest CAGR during the forecast period.

Asia Pacific to witness significant growth from 2020 to 2025
Geographically, the clinical decision support system s 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.

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COVID-19 Impact on Clinical Decision Support Systems/CDSS Sales

Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Clinical Decision Support Systems/CDSS market.

Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.

Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.

Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Clinical Decision Support Systems/CDSS market 2021 onwards. This trend will however continue through the course of the report’s assessment period

Key Players:

This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Clinical Decision Support Systems/CDSS market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.

Some of the prominent players in the Clinical Decision Support Systems/CDSS market include: 

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).

This report delivers market breakdown and its revenue, consumption, production analysis and projections by categorizing it depending on parameters such as type, application/end-user, and region. This research report delivers the analysis and prognosis of revenue, production, price, market share and growth trend for different products such as:

By Product
  • Integrated CDSS
  • Standalone CDSS
By Delivery Mode
  • On Premise
  • Cloud based
By Model
  • Knowledge based
  • Non-Knowledge based
By Type
  • Therapeutic
  • Diagnostic
By Component
  • Services
  • Software
  • Hardware
By Application
  • Advanced CDSS
  • Conventional CDSS
By Level Of Interactivity
  • Active CDSS
  • Passive CDSS
By Settings
  • In Patient
  • Ambulatory care settings

Why Buy this Report?

The purpose of Nova one advisor’s Clinical Decision Support Systems/CDSS market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

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