A recent report published by Infinium Global Research on clinical decision support system market provides in-depth analysis of segments and sub-segments in the global as well as regional clinical decision support system market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional clinical decision support system market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts and dollar values of global clinical decision support system market. According to the report, the global clinical decision support system market is projected to grow at a CAGR of 11.04% over the forecast period of 2020-2026.

Market Insight

Clinical decision support systems represent a change in outlook in healthcare sector. They minimize analytical errors by notifying the physician of potentially harmful drug interactions, and their diagnostic procedures have been shown to enable diagnoses that are more accurate. There are a wide variety of uses for CDSS in clinical practice such as assisting with patient-related decision making, determining optimal treatment strategies for individual patients, supporting general health policies and estimating treatment outcomes under circumstances where methods like randomized trials are either impossible or infeasible. Besides that, growing demand for advanced healthcare information systems and growing investments by healthcare IT players are expected to drive the demand for clinical decision support systems.

The outbreak of the COVID-19 crisis has globally strained medical resources and caused significant mortality. The COVID-19 pandemic has exposed critical gaps in diagnostic testing and population-level surveillance. Analysts at Infinium Global Research predict that the market for the global clinical decision support system is unlikely to be impacted due to the outbreak of the pandemic although the outbreak of the COVID-19 has strained medical resources and caused significant mortality for severely and critically ill patients. Presently, the lack of availability of validated monograms and the machine-learning model to predict severity risk and triage of affected patients is limited in developing economies. However, the pandemic has created an increased need for employing CDSS for risk assessment of patients preferably in a quantitative, non-subjective way as it is extremely important for patient management and medical resource allocation, due to which CDSS is expected to gain lucrative growth prospects in the forecast period.  In recent years, several developed and developing countries have witnessed rapid growth in the prevalence of chronic diseases along with a rise in the geriatric population. Moreover, this rise in the disease population will increase the use of computerized clinical decision support systems to improve chronic disease management and the processes of chronic care to increase hospital efficiency. The major factor such as technological advancement in software integration facilities with other electronic medical record systems and rising prominence and usage of big data and mhealth tools are expected to fuel the growth of the clinical decision support system market. However, the high cost of installing CDSS solutions will hamper market growth. Apart from that, lack of Interoperability, high maintenance, and service expenses hinders the growth of the clinical decision support market. Moreover, the emergences of cloud computing and substantial growth in the number of hospitals and healthcare facilities adopting several forms of clinical decision support systems in recent times are some of the factors that provide significant growth opportunities for the clinical decision support system market in near future. Moreover, the increasing government initiative, to reform the healthcare sector is likely to provide new opportunities for the market in upcoming years.

Among the geographies, the North America region dominates the global clinical decision support system market owing to increasing investment from healthcare IT players and early adoption by healthcare services providers. Furthermore, Europe is expected to hold a significant share in the global clinical decision support system market due to the availability of advanced technologies across the region. The global clinical decision support system market in the Asia Pacific region is projected to witness the fastest growth owing to the rising number of chronic diseases and rapidly increasing population. Latin America and Middle East & Africa are likely to expand at a healthy pace in the coming years owing to the rising emphasis on technological advancements in the healthcare process is likely to boost demand for the clinical decision support system market in the region

Segment Covered

The report on global clinical decision support system market covers segments such as system, mode of advice, application, delivery model, and end-user. On the basis of system, the sub-markets include knowledge-based systems, expert laboratory information system, and machine learning systems. On the basis of mode of advice, the sub-markets include passive CDSS, and active CDSS. On the basis of application, the sub-markets include drug databases, care plans, diagnostic decision support, disease reference, and other applications. On the basis of delivery model, the sub-markets include on-premise, web based, and cloud based. On the basis of end-user, the sub-markets include hospitals, diagnostic centers, clinics, retail pharmacy, and others end-user.

Companies Profiled:

The report provides profiles of the companies in the market such as Siemens Healthineers AG, Koninklijke Philips N.V., Wolters Kluwer N.V., Cerner Corporation, Abbott Laboratories, GE Healthcare, OptumHealth LLC, Allscripts Healthcare Solutions Inc., First Databank Inc., and IBM Watson Health.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of clinical decision support system market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.