PUBLISHER: The Business Research Company | PRODUCT CODE: 1754838
PUBLISHER: The Business Research Company | PRODUCT CODE: 1754838
Clinical decision support systems (CDSS) are computer-based tools designed to assist healthcare professionals in making informed clinical decisions by analyzing patient data and providing evidence-based recommendations. These systems are utilized by a wide range of healthcare providers, including physicians, nurses, and allied health professionals, to enhance patient care across various medical settings.
The clinical decision support systems market consists of revenues generated by entities (organizations, sole traders, and partnerships) involved in the development and implementation of these systems. Clinical decision support systems (CDSS) are computer-based programs designed to enhance healthcare delivery by providing clinicians with evidence-based knowledge and patient-specific information at the point of care.
The global clinical decision support systems market was valued at $1,684.93 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 13.00%.
Rising Demand For Personalized Medicine
During the historic period, the rising demand for personalized medicine supported the growth of the clinical decision support systems market. Personalized medicine utilizes genomic data to tailor treatments, and clinical decision support systems (CDSS) enhance this by integrating genetic test results with clinical guidelines. AI-driven CDSS analyzes patient data to predict treatment responses, enabling physicians to select the most effective therapies. This data-driven approach improves precision, ensuring treatments are personalized rather than standardized. For example, in October 2022, the Personalized Medicine Coalition, a US-based organization that represents scientists, patients and providers, promoting the understanding and adoption of personalized medicine to benefit patients and the healthcare system, estimated that more than 75,000 genetic testing products and 300 personalized medicines are on the market for people with multiple types of cancers, genetic rare diseases and a range of chronic and infectious diseases. Additionally, in 2022, according to the Personalized Medicine Coalition (PMC), a US-based company that advocates for personalized medicine, personalized medicines will account for 34% of new drug approvals by the US Food and Drug Administration in 2022 and have accounted for at least 25% of approvals in each of the previous eight years. Therefore, the rising demand for personalized medicine drove the growth of the clinical decision support systems market.
Strategic Partnerships Driving Innovation In Clinical Decision Support Systems
Major companies operating in the clinical decision support systems market are adopting a strategic partnerships approach to develop advanced clinical solutions. Strategic partnerships help clinical decision support systems companies by combining resources and expertise, enhancing research and development capabilities, expanding market reach, and accelerating commercialization, ultimately driving innovation and growth in the clinical decision support systems industry. For instance, in October 2024, Nordic Consulting Partners, Inc., a US-based healthcare consulting firm specializing in EHR implementation, partnered with BeeKeeperAI, Inc., a US-based healthcare AI company focused on privacy-preserving AI solutions to accelerate AI-driven clinical decision support at the point of care by enabling secure, privacy-preserving access to real-world healthcare data. This collaboration leverages BeeKeeperAI's confidential computing technology and Nordic's deep expertise in healthcare IT and EHR integration to facilitate the development and deployment of AI models without compromising patient privacy. The partnership aims to enhance clinical workflows, improve diagnostic accuracy, and drive better patient outcomes while ensuring compliance with stringent data security regulations.
The global clinical decision support systems market is highly concentrated, with large players operating in the market. The top ten competitors in the market made up to 76.23% of the total market in 2023.
Clinical Decision Support System Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global clinical decision support System market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for clinical decision support clinical decision support? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The clinical decision support market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider clinical decision support system market; and compares it with other markets.