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Clinical Decision Support System Market: Usage Based in Clinical Decision Support System is to Fuel Global Market Expansion

11-09-2018 12:16 PM CET | Health & Medicine

Press release from: Transparency Market Research

Clinical Decision Support System Market: Usage Based

The global clinical decision support system market is rising with rule based expert system, funding from societies for improving point of care, and increasing primary healthcare support across the globe is expected to drive the growth of market. The global clinical decision support system market was valued over US$ 523.8 Mn in 2016 and is projected to witness cumulative annual growth rate (CAGR) of over 11% from 2017 to 2025 to surpass the value of US$ 1,318.4 Mn by 2025. The global market is witnessing relatively higher growth owing to increasing digitization of medical practices, high healthcare IT budgets and rise in demand for chair time optimization in developed markets.

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Clinical decision support system is an administrative as well as clinical tool that helps in improving operational efficiency of healthcare practices. The hospitals and clinics are required to handle with the large volume of patient information both administrative as well as clinical information. In order to handle the large volume of data, medical professionals and front office staff are always in search of effective way to record, store and improve the access to patient information in efficient manner. The clinical decision support system aids the medical professionals and patients to streamline the workflows of medical practices and thus to improve overall operational efficiency as well as patient care. Physician recommendation for updating systems with alert systems and new technological innovation by different key players can also accelerate the growth in clinical decision support system market. These factors collectively projected to drive the demand for global clinical decision support system in near future. Also, the technological advancements such as software integration facilities with other electronic health records is estimated to fuel the expansion of clinical decision support system market.

The global clinical decision support system market is broadly segmented into four categories based on usage based, by application, by mode of advice, by delivery model, by end-user and by region. In terms of delivery model, the global market is categorized into on premise, web based and cloud based clinical decision support system. The market for on premise clinical decision support system accounted for key share (in terms of revenue) in global market in 2016, the cloud based clinical decision support system is estimated to grow at exponential growth rate during the forecast period and the segment is estimated to report significant gain in its market share by the end of 2025. The cloud based clinical decision support system offers the several advantages over on premise and web based clinical decision support system and thus, cloud based clinical decision support system is increasingly gaining popularity among physicians, especially among group dental practice management offices and clinics. By mode of advice, the global clinical decision support system market has been segmented into active clinical decision support system and passive clinical decision support system. Passive CDSS segment is anticipated to be the most attractive market due to advantages such as providing valid and reliable information, saving user’s time, integrating system recommendation alerts. However, increased voluntary disclosures and reducing intensity of lenders by the users are anticipated to boost the active CDSS segment from 2017 to 2025.

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In terms of application, the global clinical decision support system is segmented into drug databases, care plans, diagnostic decision support, disease reference, others. The drug database and diagnostic decision segment is dominated the global market and is likely to maintain its dominance by the end of 2025 with marginal increase in its market share. Increasing adoption of digital platforms by the younger population for appointment scheduling, creating alert system by physicians & nurses, value added features provided by the patient management and billing applications such as paperless patient data recording and storage, e-billing and insurance claiming etc. has led to prominent share of the segment in global market. Based on usage based, the clinical decision support system market is segmented as knowledge-based systems, expert laboratory information system, and machine learning systems. The knowledge-based systems segment dominated the global clinical decision support system market accounting for the highest share in 2016 as these usage based systems are mostly utilized due to rising incidences of various diseases resulting from medication errors. The knowledge-based systems segment is also expected to register the fastest growth rate during the forecast period due to growing need of integrate healthcare IT solutions in hospitals, clinics and others. Also, improved quality of care and clinical outcomes, and some favorable government initiatives is expected to propel the knowledge-based systems segment growth rate during forecast period. By end-user, the global market has been segmented into dental clinics and hospitals.

Geographically, the global clinical decision support system market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America dominated the global market and is projected to lose its market share by the end of 2025. North America dominated the global clinical decision support system market in 2016 due to factors such as technologically advanced research and treatment platforms for diagnosis of chronic diseases, presence of a large number of reimbursement policies, rise in Canadian healthcare infrastructure, and increase in development of IT healthcare organizations in North America. Moreover, increase in the group medical practices has been observed in the United States which projected to fuel the expansion of cloud based clinical decision support system in the United States during the forecast period. Asia Pacific region is projected to be fastest growing region in global clinical decision support system market during the forecast period. In Asia Pacific region, China dominated the clinical decision support system market whereas India is estimated to grow at exponential CAGR during the forecast period.

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The companies like Allscripts Healthcare Solutions, Inc., First Databank, Inc., Truven Health Analytics, Cerner, Philips Healthcare, Siemens Healthcare etc. accounted for the major share in global clinical decision support system market in 2016. The Allscripts Healthcare Solutions, Inc., company has the higher share due to increasing adoption of IT in healthcare sector which is expected to drive clinical decision support system market in the forecast period. Other global players operating in the market include Optum, Inc. (UnitedHealth Group), GE Healthcare, and Epic Systems Corporation Inc. Companies are adopting the strategy acquisition and collaboration with parallel companies to improve and strengthen its geographic presence in international market.

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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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