Leveraging Clinical Decision Support Systems Industry for Better Healthcare Outcomes An InDepth
The Global Clinical Decision Support System Market size was USD 4.48 Billion in 2021 and is expected to register a revenue CAGR of 10.3% during the forecast period, according to latest analysis by Emergen Research. Rapid integration of technologies, such as Artificial Intelligence (AI) with healthcare services, is driving market revenue growth.
An array of AI-enabled clinical decision support systems has been launched, which is expected to drive revenue growth of the market during the forecast period. For instance, in October 2021, the Government of Hong Kong launched an HER-equipped application called Medicare e-Health App, which enhanced patient healthcare with increased accuracy. In addition, increasing demand for innovative and reliable technical platforms in the healthcare sector along with increased adoption rate is driving market revenue growth. According to Office of National Coordinator for Health Information Technology (ONC), U.S., there has been an increase in adoption rate of Electronic Health Record (EHR)-equipped clinical decision support system platforms in various fields of the healthcare industry, such as general acute care, psychiatry, rehabilitation, acute long-term care, from 2019 to 2021 at a rate of 68%, 54%, 46%, 45% respectively. Furthermore, increased interest in automated medical solutions and smart decision-making platforms is a major factor driving market revenue growth.
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Key Players operating in the industry are:
McKesson Corporation, Siemens Healthcare GmbH, Allscripts Healthcare, LLC, NXGN Management LLC., Athenahealth, Inc., Koninklijke Philips N.V., Agfa-Gevaert Group, Wolters Kluwer N.V., Oracle, Medical Information Technology, Inc., Carestream Health, and General Electric.
Following the inception of COVID-19, there has been a significant surge in number of patients. The healthcare industry has experienced a rise in pressure owing to a significant rise in number of patients visiting them on a daily basis. In addition, outbreak of COVID-19 pandemic has generated an increased demand for automated diagnosis and treatment devices that can provide highly precise diagnosis and medical guidelines. COVID-19 pandemic has resulted in a notable shortage of hospital beds, which is a significant factor for driving market expansion of connected biomedical apparatuses for systematic monitoring of vital signs. Moreover, COVID-19 outbreak has also mandated social distancing and quarantine for several interval of time.
Some Key Highlights From the Report
- The standalone clinical decision supporting system segment accounted for largest share in 2021. Rapid advancements in information technology and their integration in healthcare system is major factor driving revenue growth of this segment. In addition, high adoption rate attributed to its low cost is also driving revenue growth of this segment.
- The drug allergy alerts segment accounted for largest revenue share in 2021. This can be attributed to increasing burden of allergies due to drugs, which are highly patient-specific. Prior to administration or dispensing of a drug inside a patient, a systematic assessment of the drug that is suitable for patient must be analyzed. Automated, AI-equipped clinical decision support system devices can notify healthcare professionals, which drug can be allergenic to a particular patient and thus enhance quality of patient care system.
- The web-based system segment accounted for a significant revenue share in 2021. Increased accessibility to a repository of various records and data is driving revenue growth of this segment.
- The North America accounted for largest revenue share in 2021. Increasing geriatric population in this region is a key factor driving market revenue growth in this region. According to U.S. Census Bureau, there are over 54 million elderly populations in 2021. It is expected that geriatric population will cross 85 million in 2050.
- On 10 May 2021, General Electric Company launched Xeleris V. It is a novel processing and review solution that ensures secured access for health professionals to a plethora of data related to nuclear medicine. It is equipped with AI-based features that simplify and enhances workflows. This allows development of personalized precision nuclear medicines, thereby facilitating market penetration.
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Emergen Research has segmented the global clinical decision support devices market based on type, application, delivery mode, and region:
- Type Outlook (Revenue, USD Billion; 2019-2030)
- Standalone CDSS
- Integrated CPOE with CDSS
- Integrated EHR with CDSS
- Application Outlook (Revenue, USD Billion; 2019-2030)
- Drug Allergy Alerts
- Clinical Guidelines
- Drug-Drug Interactions
- Clinical Reminders
- Delivery Mode Outlook (Revenue, USD Billion; 2019-2030)
- Web-Based Systems
- Cloud-Based Systems
- On-Premises Systems
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Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Radical Features of the Clinical Decision Support System Market Report:
- The report encompasses Clinical Decision Support System market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements
- An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently
- Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies
- Supply chain analysis along with technological advancements offered in the report
- The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Clinical Decision Support System industry
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