Clinical Decision Support Systems Market is Growing Adoption of Big Data & Health IT Tools Propels the Market Growth

The global clinical decision support systems market is segmented on the basis of component, delivery mode, application, end-user. Based on the component the market is classified as software, services, and hardware. On the basis of delivery mode, the market is divided into on-premise, cloud-based, and web-based. On the basis of application, the market is categorized as drug-drug interactions, drug allergy alerts, clinical reminders, clinical guidelines, and others. And on the basis of end-user, the market is segmented as hospitals, ambulatory care centers, and diagnostic labs.

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The key players influencing the market are:

Cerner Corporation
Medical Information Technology, Inc.
BD
Wolters Kluwer N.V.
Baxter International Inc.
Premier
Koninklijke Philips N.V.
RELX (Elseiver)
PeraHealth
Epic Systems Corporation

The market for clinical decision support systems is expected to grow significantly due to factors such as rising pressure on healthcare institutions to provide quality health at reduced costs, rising prevalence of chronic diseases, growing adoption of big data & health IT tools, number of initiatives taken by governments, rising developments in the fields of healthcare IT, rising number of hospitals. However, the growth of the market is restrained by a factor such as concerns regarding data privacy.

According to a new market research study titled 'Clinical Decision Support Systems Market to 2027 - Global Analysis and Forecasts by Component, Delivery Mode, Application, End User and Geography. The global clinical decision support systems market is expected to reach US$ 5,983.38 Mn in 2027 from US$ 2,772.60 Mn in 2018. The market is estimated to grow with a CAGR of 9.2% from 2019-2027. The report highlights the trends prevalent in the global clinical decision support systems market and the factors driving the market along with those that act as challenges to its growth.

Market Insights

Rise in the Number of Partnerships and Collaborations in the Market

The clinical decision support systems have been witnessing rapid acceptance by healthcare providers as well as patients during recent years, owing to the benefits being offered by it. In support, there have been various significant collaborations and partnerships in the market, which have fueled the growth of the clinical decision support systems market. The market has been marked mainly by the presence of big and small players; however, during recent years, large companies have begun to take an interest in this space.

According to the reports published by Mercom Capital Group in October 2019, the global digital health VC funding has reached to USD 7.2 billion, increased by 42%, the CDSS received USD 514 million. This funding has boosted the global CDSS companies and medical research startups where they can invest in new innovative solutions. Advancements in the CDSS system will help healthcare providers to provide better care and treatment to their patients.

Rising Developments in The Fields of Healthcare IT

The rising investments in the field of healthcare IT is driving the growth of clinical decision support systems market. Rising investments in healthcare IT infrastructure is enabling the physicians to provide better care to their patients at affordable prices. The decision support system platforms such as CSDSS could become one of the most adopted user interfaces for the healthcare IT community. Some experts also claimed that it could replace the electronic health record (EHR) system in the future.

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