Number of pages: 100 | Report Format: PDF | Published date: March 10, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
According to the deep-dive market assessment study by Growth Plus Reports, the global clinical decision support systems market was valued at US$ 5.8 billion in 2023 and is expected to register a revenue CAGR of 9.8% to reach US$ 13.4 billion by 2031.
Clinical Decision Support Systems (CDSS) Market Fundamentals
A clinical decision support system (CDSS) is designed to improve healthcare delivery by supplementing medical choices with targeted clinical knowledge, patient information, and other health data. A traditional CDSS is made up of software intended to directly aid clinical decision-making, in which the characteristics of an individual patient are matched to a computerized clinical knowledge base. Patient-specific assessments or recommendations are then presented to the clinician for decision-making. CDSS are primarily employed at the point of care nowadays, allowing clinicians to combine their knowledge with information or suggestions offered by the CDSS. Yet, CDSS are increasingly being developed with the potential of using data and observations that would otherwise be unavailable or unintelligible to humans.
CDSSs have been classified based on intervention timing and whether they are delivered actively or passively. CDSS are typically divided into two types: knowledge-based and non-knowledge-based. Rules (IF-THEN statements) are established in knowledge-based systems. The system retrieves data to evaluate the rule and provides an action or output. Evidence from the literature, practice, or patients can be used to develop rules. Non-knowledge-based CDSS still requires a data source, but the decision is based on artificial intelligence (AI), machine learning (ML), or statistical pattern recognition rather than expert medical knowledge.
Clinical Decision Support Systems (CDSS) Market Dynamics
The increased desire for reducing healthcare costs, the need for improved quality of treatment, and technical improvements in healthcare IT in hospitals are the primary drivers expected to drive the clinical decision support systems (CDSS) market. Furthermore, according to the Organization for Economic Cooperation and Development (OECD) Survey Report, the average per capita health expenditure in 2021 will be around US$ 7,382.6 in Germany, US$ 7,064.8 in Norway, and US$ 6,262.3 in Sweden. As a result, the high healthcare expenditure is likely to contribute to market revenue growth. The hybrid optimization learning algorithm exhibited accuracy, sensitivity, and specificity measures, according to a Science Direct study published in November 2022. The findings demonstrated that the proposed model was highly appropriate for diagnosing social anxiety disorder and was consistent with the findings of other studies. Such CDSS efficiency is likely to contribute to market revenue growth.
The growing geriatric population is likely to contribute to market revenue growth. According to the WHO projections published in October 2022, the population aged 60 and above would reach 1.4 billion in 2030 and 2.1 billion by 2050. According to a 2022 report by the UN, the proportion of the population aged 65 and more is expected to climb from 10% in 2022 to 16% in 2050. The senior population, prone to developing chronic diseases and requiring regular health checks and treatments for disease prevention, is predicted to increase demand for advanced CDSSs, fueling market expansion.
Clinical Decision Support Systems (CDSS) Market Ecosystem
The global clinical decision support systems market has been analyzed from five perspectives: product, application, delivery mode, component, and region.
Clinical Decision Support Systems Market by Product
Based on product, the global clinical decision support systems market is segmented into standalone CDSS, integrated CPOE with CDSS, integrated EHR with CDSS, and integrated CDSS with CPOE & EHR.
The standalone CDSS segment is likely to dominate the market during the forecast period. The segment will continue to grow during the projected period since it is simple to employ in various hospital and clinical settings. There is greater use of CDSS and systems, which increase clinical care efficiency and save time while obtaining information about the patient’s history. When a standalone CDSS system is combined with electronic health records, it produces better results; this integrated segment is predicted to increase rapidly during the forecast period. The demand for this system is rising in multi-specialty healthcare centers due to greater awareness of its benefits.
Clinical Decision Support Systems Market by Application
Based on application, the global clinical decision support systems market is segmented into drug-drug interactions, drug allergy alerts, clinical reminders, clinical guidelines, drug dosing support, and others.
The drug allergy segment is likely to dominate the market during the forecast period as many people are sensitive to specific pharmaceuticals. The growing importance of systems that may deliver allergy alerts is an enormously essential benefit of such systems. There is an upsurge in medication allergies among patients. When medications are recommended to a certain patient, the dispensing and administering the drug may result in undesirable consequences, further complicating the matter. Extreme caution must be exercised when providing these medications to a specific patient.
The clinical guideline segment is also expected to increase profitably throughout the projection period. This system provides guidelines for the diagnosis and treatment of a specific disease. These guidelines assist a practitioner in retrieving data for the patient’s treatment and also place guidelines they must follow during the treatment course, which aids in providing quality services to the patients.
Clinical Decision Support Systems Market by Delivery Mode
Based on delivery mode, the global clinical decision support systems market is segmented into web delivery, cloud delivery, and on-premises delivery.
The on-premises delivery segment is likely to dominate the market during the forecast period. A trained user of this software and the access ability supplied by these systems when put up in the business fuel market expansion.
The loud-based delivery segment accounts for the second-highest revenue share. Cloud-based delivery solutions are finding application in the healthcare sector due to information technology and innovation advances. These systems are both economical and dependable. Cloud providers assist practitioners in deploying and managing software to offer end users services. As data saved on the web is easily accessible through numerous devices, the web delivery segment is predicted to develop during the projection period. Web-based technologies allow precise diagnosis of a variety of medical disorders.
Clinical Decision Support Systems Market by Component
Based on component, the global clinical decision support systems market is segmented into hardware, software, and services.
The services segment is likely to account for the largest revenue share of the market during the forecast period. This is because software and the knowledge base are updated regularly. CDSS services include the upkeep of components and their accessories. It comprises hardware and software upgrades and a knowledge database with the most recent breakthroughs and drugs.
The software segment is expected to develop rapidly during the forecast period. When used with CPOE and EHR software, CDSS provides increased decision assistance by producing personalized and patient-specific findings. Throughout the forecast years, the market is expected to be driven by novel advancements in technical support and software interoperability.
Clinical Decision Support Systems Market by Region
Based on region, the global clinical decision support systems market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The North America region will likely dominate the market during the forecast period. Technological advancements drive the clinical decision support systems market in North America in CDSS, together with increasing patient awareness and rising investments in healthcare IT solutions in the region. Further contributing to expanding the industry in the United States is increased government financing in North America for healthcare support. According to the Congressional Budget Office 2021, federal funding for the National Institute of Health (NIH) has totaled more than US$ 700 billion during the last few decades. Furthermore, the increasingly advanced product launches by various market participants in this region are likely to contribute to the market’s revenue growth. For instance, during the August 2021 HIMSS Global Conference and Exhibition in Las Vegas, First Databank, Inc debuted the FDB CDS Analytics. The technology makes it simple for healthcare provider organizations to discover, monitor, and personalize clinical decision support in their electronic health record.
Asia Pacific is expected to be the fastest-growing regional market for CDSS. This can be ascribed to increased healthcare investment in nations such as Australia, China, India, and Japan. Due to increased R&D expenditure by governments of important economies to increase the penetration of information technology in the medical field, the Asia Pacific market has great potential. Furthermore, the growing geriatric population is expected to be a major driver of the regional market. A significant rise in the number of patients and growth in the demand for AI-enabled automated devices are driving market revenue growth for clinical decision support systems in this region.
Rapid growth in the number of IT companies is expected to aid in market revenue growth. In November 2021, Elsevier collaborated with Gramin Health Care to initiate an Al-enabled platform called ClinicalPath Prinamry Care India. It is a clinical decision support device that provides automated clinical guidelines in the antenatal care sector to provide personalized care to mothers with complex pregnancy conditions. Furthermore, it also provides automated medical prescriptions and videos to frontline medical workers in the maternal and infant health sector.
Clinical Decision Support Systems (CDSS) Market Competitive Landscape
The prominent market players in the global clinical decision support systems market include:
Clinical Decision Support Systems (CDSS) Market Strategic Developments
Asia Pacific is the key growth region in the global clinical decision support systems market.
The prime driving factors include technological advancements in healthcare IT in hospitals and increasing demand to reduce healthcare expenditure.
Numerous international, regional, and local competitors populate the clinical decision support systems market. Nonetheless, some big global companies dominate the market due to their brand image and market reach. The market is very fragmented and competitive.
The clinical decision support systems market is estimated to reach US$ 13.4 billion by 2031.
The global clinical decision support systems market is expected to register a revenue CAGR of 9.8% during the forecast period.
*Insights on financial performance are subject to the availability of information in the public domain