Clinical Decision Support Systems Market 2021 - Emerging Trends, Industry Forecast, Segmentation and Top Technologies

Clinical decision support systems market is expected to reach USD 1,519.2 Million by 2021 from USD 856.3 Million in 2016, at a CAGR of 12.2%. Clinical decision support systems market are gaining popularity across the globe. Significant increase in the number of hospitals and healthcare facilities adopting various forms and levels of clinical decision support systems in recent times provides a significant potential for increased near-future implementation.

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Clinical decision support systems (CDSS) are strictly regulated by authorities such as FDA. Therefore, platforms introduced or in developmental phases are expected to fulfill relevant criteria set by FDA & CE Mark. In addition, competitors have to take into account non-violation of information technology and cyber laws to assure products’ integrity.

Report includes study of key players offering clinical decision support systems such as Cerner Corporation (U.S.), McKesson Corporation (U.S.), Epic Systems Corporation Inc. (U.S.), Medical Information Technology, Inc. (U.S.), Philips Healthcare (Netherlands), Allscripts Healthcare Solutions, Inc. (U.S.), Wolters Kluwer Health (U.S.), Zynx Health (U.S.), Elsevier B.V. (Netherlands), and International Business Machines (IBM) Corporation (U.S.)

3 Executive Summary

4 Premium Insights
4.1 Clinical Decision Support Systems Market Overview
4.2 Clinical Decision Support Systems Market, By Model (2018 vs 2023)
4.3 Clinical Decision Support Systems Market, By Level of Interactivity (2018 vs 2023)
4.4 Clinical Decision Support Systems Market, By Application (2018 vs 2023)
4.5 Geographic Snapshot of the Clinical Decision Support Systems Market

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Market Drivers
5.2.1.1 Government Support and Initiatives
5.2.1.2 High Prevalence of Chronic Diseases
5.2.1.3 Growing Incidence of Medication Errors
5.2.1.4 Rising Prominence and Usage of Big Data and Mhealth Tools
5.2.1.5 High Returns on Investment for CDSS Solutions
5.2.1.6 Growing Adoption of Cloud Computing in Healthcare
5.2.1.7 Partnerships Between Medical Research Groups and Clinical Decision Support Companies
5.2.1.8 Rapid Growth in the Geriatric Population
5.2.2 Restraints
5.2.2.1 Reluctance to Adopt Mobile CDSS
5.2.2.2 High Investments for It Infrastructure
5.2.2.3 Data Security Concerns Related to Cloud-Based CDSS
5.2.2.4 Lack of Interoperability
5.2.3 Market Opportunities
5.2.3.1 Emerging Markets for Healthcare It
5.2.3.2 Technological Advancements in Healthcare It Solutions
5.2.4 Market Challenges
5.2.4.1 Integration of CDSS Solutions Within Healthcare Organizations
5.2.4.2 Lack of Skilled It Professionals in the Healthcare Industry
5.2.5 US Regulatory Landscape: Clinical Decision Support Systems
5.2.5.1 Clinical Decision Support Systems and Meaningful Use Requirements

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Stakeholders in the Clinical Decision Support Systems Market Healthcare Institutions/Providers (Hospitals, Medical Groups, Physician Practices, Diagnostic Centers, Pharmacies, Ambulatory Centers, and Outpatient Clinics), Healthcare Insurance Companies/Payers, Healthcare IT Service Providers, Venture Capitalists, Government Bodies, Corporate Entities and Accountable Care Organizations.

Reluctance amongst traditional healthcare providers to adopt the solutions, requirement of high investments for supporting IT infrastructure, data security concerns related to cloud-based systems and lack of interoperability are some of the factors expected to restrain the growth of this market. On the other hand, emerging markets for healthcare IT in regions such as Asia-Pacific, Middle East, Latin America and Africa, and technological advancements in HCIT solutions offer growth opportunities for players in the market. The clinical decision support systems market is expected to be challenged by the lack of skilled IT professionals in the healthcare sector.

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Geographically, North America is expected to account for the largest share of the global clinical decision support systems market in 2016, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). The large share of the North American market is attributed to favorable initiatives and regulatory mandates, enterprises by key industry players, and rising incidence of medication errors in U.S.

The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms to garner a greater market share. Firms purchasing the report could use one or a combination of the below-mentioned five strategies for strengthening their market shares.

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