PUBLISHER: SkyQuest | PRODUCT CODE: 1270749
PUBLISHER: SkyQuest | PRODUCT CODE: 1270749
Global Clinical Decision Support System Market size was valued at USD 4.48 billion in 2021 and is poised to grow from USD 4.86 billion in 2022 to USD 10.7 billion by 2030, growing at a CAGR of 10.4% in the forecast period (2023-2030).
The increasing demand for trustworthy technology solutions that are integrated into high-quality care is one of the key reasons driving the market's expansion. As more hospitals and healthcare facilities deploy information systems, as well as helpful worldwide government activities, the industry is expanding. Clinical decision support systems are subject to stringent constraints imposed by authorities such as the FDA. Platforms that have been introduced or are currently in the development stage must therefore meet relevant FDA and CE Mark specifications. In order to maintain the integrity of their products, competitors must also ensure that information technology and cyber regulations are not broken.
CDSS companies and groups have taken steps to help curb the epidemic. CDSS has grown into a critical weapon in the fight against COVID-19, demonstrating how healthcare teams can stay up to current on the most recent COVID information and intelligence, hence improving the quality of treatment they provide. The Infectious Diseases Society of America advised repeating a COVID-19 test in people with a moderate to high risk. There was, however, no information on what factors made a patient more or less prone to contract the infection. An infectious disease team was always on duty at Massachusetts General Hospital. As a result, concentrated efforts led in the development of a CDS instrument known as COvid Risk cALculator (CORAL). The tool is embedded into the EHR. This should have a positive impact on market expansion. CORAL's outpatient version will be available in October 2021. CORAL is the first algorithm that has been integrated into ordinary, prospective physician workflow via an EHR CDSS and has retained its exclusivity.
The COVID-19 outbreak has put a strain on medical practises of all sizes, and healthcare facilities around the world are being overrun by the high number of people who attend them every day. The onset of this pandemic has increased need for precise diagnostic and therapeutic technologies in a number of countries worldwide. Clinical decision support systems have been shown to be useful in this regard since they allow healthcare professionals and organisations to monitor patients using a variety of equipment such as home blood pressure monitors and pulse oximeters. Furthermore, the disease's rapid global spread has resulted in a shortage of hospital beds and medical workers. This has boosted the demand for networked medical equipment for vital sign monitoring.
Furthermore, because of the pandemic, there was a larger need for social distance between doctors and patients, which increased demand for CDSS solutions and the timely and accurate transmission of patient health records. Many market participants have built COVID-19-related functionality into their existing EHRs, which are freely available to users.
Top-down and bottom-up approaches were used to estimate and validate the size of global Clinical Decision Support System Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to get the final quantitative and qualitative data.
Segments covered in this report
Global Clinical Decision Support System Market is segmented based on Product, Application, Delivery Mode, Component, and Region. Based on Product the Clinical Decision Support System Market is further sub segmented into Standalone CDSS, Integrated CPOE with CDSS, Integrated E.H.R. with CDSS, Integrated CDSS with CPOE & E.H.R. Based on Application the Clinical Decision Support System Market is further sub segmented into Drug-drug Interactions, Drug Allergy Alerts, Clinical Reminders, Clinical Guidelines, Drug Dosing Support, Others , Based on Delivery Mode the Clinical Decision Support System Market is further sub segmented into Web-based Systems, Cloud-based Systems, On-premise Systems. Based on Component the Clinical Decision Support System Market is further sub segmented into Hardware, Software, Services. Based on Region the Clinical Decision Support System Market is further sub-segments into North America, Europe, Asia Pacific, Latin America, MEA.
Driver
The health ministers of the European Union agreed to collaborate to establish an eHealth common area in 2021, allowing for the free flow of electronic health records throughout the continent. The declaration also calls for eHealth to be included as a crucial component of the Europe 2021 agenda. Such policies/initiatives are projected to raise demand for and adoption of EHR, which will have an impact on CDSS adoption in key worldwide markets.
Restraints
Due to healthcare resources' aversion to installing and running clinical decision support systems, the worldwide clinical decision support systems market is projected to face growth obstacles.
Due to higher software installation and post-sale maintenance costs, the global market for clinical decision support systems is likely to face considerable growth limitations.
Market Trends
Partnerships between CDSS suppliers and hospitals have grown dramatically in the recent few years. The government's acknowledgment and initiatives to support the implementation of CDSS and EHR systems are projected to drive up demand even further. Integration with electronic health records (EHR) improves clinical care efficacy by reducing the amount of time spent seeking for a patient's medical history and records. Furthermore, the United States Government's Health and Medicare Acts have approved CDSS, financially rewarding CDS integration into EHRs (Electronic Health Records). In 2021, a CDSS was available in approximately 41% of American hospitals with an EHR, and a cutting-edge CDS was available in 40.2% of American hospitals. Furthermore, firms collaborate to develop and provide software that is up to date with the most recent data.