Clinical Decision and Support System Market Forecasts from 2018 to 2026 - Leading Players are Cerner Corporation, Allscripts Healthcare Solutions, Inc., IBM Watson Health, GE Healthcare
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Clinical decision support system provide different benefits such as reduction in clinical error and adverse events, improved quality of healthcare service, increased efficiency and reduction in overall healthcare cost. Clinical decision support system is one of emerging healthcare technology designed to improve clinical decision making, this system could address the problem of clinical information burden faced by healthcare providers in routine decision making. Clinical decision support system provides a platform for integrating evidence-based knowledge into care delivery that improves clinical outcome.
The global clinical decision support system market size was valued at US$ 767.4 million in 2017, and is expected to witness a CAGR of 11.69 % over the forecast period (2018 – 2026).
Major driver for growth of the clinical decision support system market is various benefits offered by the CDSS in both inpatient settings, ambulatory settings, and clinics. Medical error is one of the significant contributor to cause of death worldwide. According to data published by Centre for Disease Control and Prevention (CDC), 2013, more than 150,000 deaths are reported annually in the U.S. due to medical error (ADR, wrong diagnosis, prescription error)
According to World Health Organization (WHO) report, in 2017, medication error costs US$ 42 billion annually worldwide. An estimated 43 million patient safety incidence occur annually and around 1 in 10 patient get harmed due to medication error while receiving healthcare. These incidence of medication error could be addressed with use of CDSS. Increasing prevalence of chronic disease is another driver for wide adoption of CDSS. According to WHO Factsheet, around 73% of global deaths are expected to be from chronic disease by 2020.
Increasing chronic disease prevalence worldwide to propel growth of the clinical decision support system market
Increasing prevalence of the chronic disease such as cancer, diabetes, and cardiovascular disease worldwide is propelling demand for its accurate diagnosis, treatment plan, and continuous care. According to the data published by American Heart Association, in 2016, annual cost of cardiovascular disease and stroke in 2011 – 2012 was US$ 193.1 billion in medical care and about US$ 123 billion in lost productivity from premature death. This cost can be reduced by adopting clinical decision support system, which could prevent and control major risk factors for CVD such as hypertension, hypercholesterolemia, and diabetes.
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Key players operating in the clinical decision support system market include Cerner Corporation, Allscripts Healthcare Solutions, Inc., IBM Watson Health, GE Healthcare, Change Healthcare, Zynx Health, Carestream Health Inc., First Databank, Inc., NextGen Healthcare Information Systems, Agfa Healthcare, Medical Information Technology Inc., Athena Health, Wolters Kluwer NU, Siemens Healthineers, and Philips Healthcare.
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