Press release
Clinical Decision Support System Market Status and Forecast, by Players, Types and Applications
Clinical decision support system is an administrative as well as clinical tool that helps in improving operational efficiency of healthcare practices. Hospitals and clinics are required to handle 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 an effective way to record, store, and improve access to patient information in an efficient manner. A clinical decision support system aids medical professionals and patients to streamline the workflows of medical practices and improve overall operational efficiency as well as patient care.
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Physician recommendation for updating systems with alert systems and new technological innovation by different key players are likely to accelerate the growth of the global clinical decision support system market. Technological advancements such as software integration with other electronic health records are projected to fuel the growth of the global clinical decision support system market.
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Technological Advancements in CDSS to Drive Global Market
Rise in technological advancements in CDSS, high awareness among patients, and increase in investments in healthcare IT solutions accelerate the growth of the global clinical decision support system market. A surge in group medical practices has been observed in the U.S., which is expected to fuel the growth of the cloud based clinical decision support system in the country during the forecast period.
Technological advancements in CDSS are expected to propel the clinical decision support system market in Asia Pacific, Latin America, and Middle East & Africa during the forecast period.
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Knowledge-based Systems Segment to Dominate Global Clinical Decision Support System Market
The global clinical decision support system market has been segmented based on usage based, application, mode of advice, delivery model, end-user, and region. In terms of usage based, the global clinical decision support system market has been classified into knowledge-based systems, expert laboratory information systems, and machine learning systems.
knowledge-based systems segment dominates the global market. The large share and high growth of this segment can be attributed to several beneficial functionalities of knowledge-based CDSS, such as helping clinicians with knowledge-based reasoning to make clinical decisions in the face of uncertainties. In 2020, the knowledge-based CDSS segment accounted for the largest share of 61% of the market. This segment is also estimated to register the highest CAGR of 9.2% during the forecast period.
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There has been an increase in support in the development of innovative clinical decision support systems; for instance, Boston Children's Hospital launched a clinical decision support innovation Challenge in which the winner receives rewards in the form of direct costs (around US$ 50,000), strategic project management support. and R&D software development support. Moreover, rise in collaboration of hospitals and clinics with healthcare IT firms and increasing incorporation of machine learning algorithms & AI methods will further support the CDSS Market.
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