Clinical Decision Support Systems Market by IBM, Allscripts Healthcare Solutions, Agfa Healthcare, NextGen Healthcare Information Systems, Carestream Health Inc., Athena Health and Siemens Healthineers Forecasts Till 2023

Clinical Decision Support Systems Market Segments

The market for clinical decision support systems is segmented on the basis of product, component, model, mode of advice, delivery mode, and setting. The component segment of the market is segmented into software, services, and hardware. On the basis of products, the market is divided into integrated CDSS and standalone CDSS. The model based segmentation of the market is divided into non-knowledge-based CDSS and knowledge-based CDSS. As per the delivery mode, the market is segmented into cloud-based CDSS and on-premise CDSS. On basis of mode of advice, the market is segmented into active CDSS and passive CDSS. On the basis of setting, the market is segmented into ambulatory care settings and inpatient settings.

The basis of segmentation the region segment comprises of Europe, Americas, Asia Pacific, and the Middle East and Africa. The American region is divided into North America and South America. Further, the North American region is segmented into two main countries, such as Canada and the U.S. Moreover, the European region is segmented into Western Europe and Eastern Europe.

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Global Clinical Decision Support Systems Market – Overview

Analysis of data in clinical setups to make sensitive and extremely critical decisions after considering all aspects of a given situation is becoming increasingly common. Market intensive reports associated with the healthcare industry among others recently have been made accessible by Market Research Future which issues reports on this industry. The market is expected to grow at a CAGR of 11.5 percent approximately during the forecast period.

The need for technical and reliable solutions has increased the need and dependence on clinical decision support systems. The focus on clinical decision support systems to deliver value-based care has increased the adoptions rate in the market. The impact of decision making in high risk setups is benefited from the implementation of decision support systems which can deliver fact based results in the market. The ability to automatically adhere to clinical guidelines and condition-specific order sets is an added benefit of the market creating increased demand levels. The utility offered by the market is expected to boost the expansion of the market in the forecast period.

Global Competitive Analysis

Portfolio development is being significantly endorsed by market competitors to achieve high growth rates. Localization is among of the more preferred trends for growing the market portion of the competitors in the market. The odds for growing revenue inflow in the business are likely to multiply through the forecast period. Costs involved in targeting potential customers are expected to be reasonable to be conducive to the expansion of the market. Aspects of the market related to pricing power and profit margins are expected to contribute in a major way to the revenue attractiveness of the market. The ability to withstand their competitive edge is one of the key factors fuelling their efforts in this period. The room for development in the market seems to be promising through the forecast period. The ripple effects of the market’s growth have altered the competitive backdrop of the market. The key trends and players have established a positive tone for development.

Carestream Health Inc., Meditech, Cerner, NextGen Healthcare Information Systems, Epic Systems, Philips Healthcare, Elsevier B.V., Wolters Kluwer Health, IBM, Hearst Health, Mckesson, Agfa Healthcare, Allscripts Healthcare Solutions, Athena Health and Siemens Healthineers are among the foremost contenders in the market.

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Detailed Regional Analysis

The Americas region holds the major share of the clinical decision support systems market since 2017. The large market share in this region is primarily owing to many factors such as growing chronic diseases, government initiatives, and rising adoption of healthcare IT by healthcare providers. The growing inclination towards healthcare IT to offer effective care and growing government initiatives are the main reasons for America’s majority market share of the global clinical decision support systems market. Furthermore, with the rising patient population, the incidence of medication errors has developed in the past decade. The use of big data and mHealth tools is expected to to reduce the error margin and increase the development of the clinical decision support systems market in the North American region.

The European region is another major region in the market and is likely to hold a strong share in the clinical decision support systems market globally during the forecast period. The European market is anticipated to develop at a robust growth rate during the forecast period due to the accessibility of progressive treatment facilities, intensifying initiatives by the government to rise healthcare adoption, and increasing healthcare expenditure along with the mounting need for improved healthcare infrastructure. The region of Asia Pacific is anticipated to have a stable growth rate during the forecast period. The rising importance of chronic diseases management has been one of the main factors prompting the growth of the market in the region. China is estimated to be among the fastest growing countries in the region due to the growing population and raising awareness about health and accessibility to new treatment methods. However, healthcare agencies in the APAC region are spending considerably less on IT initiatives when associated with their counterparts in the European and North American region. In countries such as India and China, the government funding for healthcare IT initiatives is inadequate, and there is little government initiative regarding HIT initiatives. This underinvestment in healthcare IT in the region is hindering the development of the clinical decision support systems market in the Asia Pacific region.

The Middle East and African region are projected to show the least growth in the market owing to some key factors such as restricted adoption of healthcare IT and limited accessibility to treatment facilities. In the Middle East region, the United Arab Emirates is the biggest market due to the growth of the healthcare industry and rising availability of specialty care centers.

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