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Clinical Decision Support Systems (CDSS) Market worth $2.5 billion | MarketsandMarkets

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Clinical Decision Support Systems (CDSS) Market worth $2.5 billion | MarketsandMarkets

March 13
18:10 2024
Clinical Decision Support Systems (CDSS) Market worth $2.5 billion | MarketsandMarkets
Clinical Decision Support Systems play a pivotal role in modern healthcare by enhancing decision-making, patient safety, and overall efficiency while contributing to cost reduction and improved patient outcomes.
The Clinical Decision Support Systems (CDSS) industry is poised for remarkable growth in the near future. With rapid advancements in artificial intelligence and machine learning, CDSS is set to revolutionize healthcare by providing healthcare professionals with invaluable tools for data-driven decision-making.

Clinical Decision Support Systems (CDSS) Market in terms of revenue was estimated to be worth $1.7 billion in 2023 and is poised to reach $2.5 billion by 2028, growing at a CAGR of 7.5% from 2023 to 2028 according to a new report by MarketsandMarkets™.

According to article published in BMJ Health & Care Informatics 2019 stated, in the US Clinical Decision Support Systems (CDSS), particularly in the categories of basic preventive reminders and drug interaction alerts, are commonly utilized, with usage ranging from 68% to 100% in primary care practices that rely solely on Electronic Medical Records (EMR) or Electronic Health Records (EHR) systems. Learn about clinical decision support systems industry trends, technology analysis, regulatory analysis, key stakeholders and buying criteria and key conferences & events in this report.

Growth in this market is majorly driven by the implementation of government regulations, expanding incidence of medication errors, and the development of mHealth and big data tools. However, huge investment needs for the implementation of clinical decision support systems are factors expected to restrain the growth of this market during the forecast period.

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“The On-premise CDSS segment is estimated to account for the largest share of the Clinical decision support systems market in 2023”

By delivery mode, the clinical decision support systems market is divided on-premise and cloud-based modes. In 2023, the on-premise CDSS segment is estimated to account for the largest share of the clinical decision support systems market. These solutions have a lower risk of data breach and allow buyers to decide when to implement a software upgrade (ensuring time to test the software and train employees on new features).

“Knowledge-based CDSS segment accounted for the largest share of the global Clinical decision support systems market, by model”

By model, the clinical decision support systems market is divided into knowledge-based CDSS and non-knowledge-based CDSS. The knowledge based CDSS segment accounted for the largest share of the market in 2022. This segment is also estimated to witness high growth during the forecast period primarily due to the increasing demand for evidence-based & personalized medicine and the rising incidence of chronic disorders.

“The Active CDSS segment is expected to grow with the highest CAGR  during the forecast period”

By interactivity level, the clinical decision support systems market can be divided into active CDSS and passive CDSS. In 2022, the active CDSS segment accounted for the largest share of the market in 2021 and is projected to grow at the highest CAGR during the forecast period. Robust government initiatives to promote clinical IT solutions, such as EHR, CDSS, and CPOE, and the growing pressure to curtail healthcare costs serve to support the growth of this market segment

Asia Pacific to witness the highest growth during the forecast period.

In 2022, North America accounted for the largest share of the global clinical decision support systems followed by Europe, Asia Pacific, and Rest of the World. During forecast period, Asia Pacific to witness high growth rate, owing to the factors such as the growing burden of chronic diseases, and the rising focus of various market players on emerging Asian countries are expected to drive the growth of the CDSS market in this region.

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Clinical Decision Support Systems (CDSS) Market Dynamics:

Drivers:

  1. Implementation of government regulations & initiatives to promote the adoption of HCIT solutions

Restraints:

  1. Data security concerns related to cloud-based CDSS

Opportunities:

  1. The growth potential of emerging markets

Challenge:

  1. Requirement of high investments for the implementation of CDSS infrastructure

Key Market Players:

Prominent players in this market are Wolters Kluwer N.V. (Netherlands), Oracle (US), Merative (US), Change Healthcare (US), Veradigm Inc. (US), athenahealth (US), Epic Systems Corporation (US), Elsevier B.V. (Netherlands), Zynx Health (US), Koninklijke Philips N.V. (Netherlands), Medical Information Technology, Inc. (US), NextGen Healthcare, Inc. (US), CureMD Healthcare (US), Siemens Healthineers (Germany), EBSCO Information Services (US), GE HealthCare (US), eClinicalWorks (US), The Medical Algorithms Company (UK), RAMPmedical (Germany), Hera-MI (France), CareCloud, Inc. (US), VisualDx (US), Premier, Inc. (US), First Databank, Inc. (US), and Strata Decision Technology (US).

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