Clinical Decision Support Systems (CDSS) Market Scenario
Market Research Future (MRFR) asserts that the clinical decision support systems (CDSS) market is likely to expand at a robust CAGR during the forecast period (2018-2023) owing to the increasing importance of data-driven technologies. Clinical decision support systems are referred to as computerized systems which are used to generate actionable insights into patient’s condition so that successful decisions can be made by the primary physicians based on solid information. It is considered a crucial element of the healthcare IT spectrum and is gaining traction across the world. The deployment of CDSS enables faster decision-making, higher workflow efficiency, and managing data in patient care. It is a clinical as well as an administrative tool which helps to improve the operational efficiency of the healthcare practices.
Clinical Decision Support Systems (CDSS) Market Potential and Pitfalls
With the accelerating importance of data-driven technologies in the healthcare sector, the global market for CDSS is estimated to flourish throughout the assessment period. The increased patient influx, the rapid expansion of the healthcare sector, especially in the fast-developing nations, and rising geriatric population across the world are further estimated to contribute to the global market. The increasing demand for quality care along with the integrated, reliable technical solutions are considered some of the key trends flourishing the Clinical Decision Support Systems (CDSS) Market Growth. Also, the growing adoption of information systems by the healthcare institutes and hospitals along with the favorable initiatives embraced by the governments across the world are also estimated to contribute to the market growth.
As CDSS are strictly regulated by certain authorities like the FDA, therefore, platforms introduced are anticipated to fulfill certain criteria set by FDA & CE Mark. Competitors also have to consider the non-violation of cyber laws and information technology in order to assure the integrity of the products. Rapid advancements in the field of bioinformatics and biotechnology are further encouraging optimizations and improvements in data storage, analytics platform, and management. The integration of interoperability and cloud computing platforms in several systems will enable a seamless flow of data and smooth functioning, which is sure to rev up the adoption of CDSS throughout the appraisal period.
On the contrary, these decision-making tools are witnessing low adoption due to the challenges faced during the implementation. Moreover, physicians do not appreciate to over-rely on a device and prefer to rely on their expertise gained over the years. Also, the lack of integration with existing patient information systems coupled with the perceived disruption of a clinical workflow are some of the top barriers considered to vitiate the market growth in the coming years.
Clinical Decision Support Systems (CDSS) Market: Segmental Analysis
The global clinical decision support systems (CDSS) market has been segmented on the basis of component, product, model, delivery mode, advice, setting, type, and application.
By mode of component, the global clinical decision support systems (CDSS) market has been segmented into hardware, software, and services. Among these, the services segment is considered to occupy the largest market share owing to the recurring nature of such services including installation, training & development, consulting, software upgrades, and maintenance.
By mode of product, the global clinical decision support systems (CDSS) market has been segmented into integrated and standalone variants.
By mode of model, the global clinical decision support systems (CDSS) market has been segmented into non-knowledge-based and knowledge-based CDSS.
By mode of delivery mode, the global clinical decision support systems (CDSS) market has been segmented into on-premise and cloud. Among these, the cloud-based systems are likely to witness the highest CAGR owing to the lower capital expenses coupled with the operational costs incurred in this model besides flexibility, scalability, and affordability.
By mode of advice, the global clinical decision support systems (CDSS) market has been segmented into active and passive.
By mode of setting, the global clinical decision support systems (CDSS) market has been segmented into ambulatory care and inpatient settings.
By mode of type, the global clinical decision support systems (CDSS) market has been segmented into diagnostic and therapeutic CDSS.
By mode of application, the global clinical decision support systems (CDSS) market has been segmented into conventional and advanced CDSS.
Clinical Decision Support Systems (CDSS) Market Regional Insights
Geographically, the clinical decision support systems (CDSS) market span across regions namely, Europe, North America, Asia Pacific, South America, and the Middle East & Africa.
Among all the regions, the North American region is considered to dominate the global CDSS market and is likely to retain its dominance in the coming years. The growth is credited to the advanced state of the healthcare industry in this region. The North American region has witnessed technological advancements in the healthcare sector due to the presence of several key players in this region which has resulted in the availability of advanced models of CDSS across the globe. Moreover, with the increasing expenditure on healthcare, the market is considered to flourish.
The European region is predicted to be a major player owing to the technological advancement of the healthcare sector in this region. On the other hand, the Asia Pacific region is presumed to create giant strides in the coming years. The growth is credited to the steady growth of the healthcare sector coupled with the efforts made by the government in order to bring about technological advancements in this sector.
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Clinical Decision Support Systems (CDSS) Industry Updates
February 07, 2019: An information analytics business who specializes in health and science, Elsevier will exhibit their clinical decision support and patient engagement solutions at the Healthcare Information and Management Systems Society 2019 annual meeting in Orlando.
Clinical Decision Support Systems (CDSS) Market Competitive Dashboard
The prominent players operating the global clinical decision support systems market are Cerner Corporation, Carestream, Agfa-Gevaert Group, Meditech, Epic Systems Corporation, Elsevier B.V., Allscripts, Athenahealth Inc, and Hearst health and Wolters Kluwer Health.