Increasing incidence of medication errors along with growing investments in order to improve the quality of care has fostered the need for clinical decision support systems. Also, several government initiatives to promote the adoption of automated healthcare solutions are likley to boost the market demand for clinical decision support system (CDSS) over the forecast period. The global clinical decision support system (CDSS) market is likely to grow from USD 929.58 million to USD 3,210.24 million by 2027, at a CAGR of 18.0% over the forecast period (2020-2027) according to QuantAlign Research.
Healthcare system has been fragmented across the globe, i.e. there are several decision makers for the treatment of an individual with particular illness. The lack of coordination among healthcare professionals and patients has negatively impacted the quality of healthcare and its cost, which led to the fragmentation of healthcare information (such as diagnosis, medical history, patient demographics, billing and administrative data). This in turn derived the need for HIT, including CDSS, and computerized physician order entry (CPOE) systems.
CDSS and their software are gaining popularity in healthcare facilities, due to innovative and advanced applications, such as, double-checking medication administration properties, drug reminders, and drug allergy alerts. These innovative and advanced applications of CDSS reduce chances of adverse drug events, and medication errors. Moreover, they improve healthcare quality, and reduce healthcare cost.
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• Software segment held the major share of the market in 2019, and the trend is expected to continue over the forecast period
• Knowledge-based CDSS segment accounted for the largest share of the market in 2019, while growing at a significant CAGR from 2020-2027
• Integrated CDSS solutions segment dominated the global market in 2019
• North America holds the largest share of the global CDSS market in 2019. However, Asia-pacific region is expected to grow at the fastest CAGR during the forecast period.
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On the basis of component, the software segment held the largest share of the global market in 2019, and the trend is expected to continue over the forecast period. CDSS software is developed to assist the clinical decision making tasks by ensuring that all medical information is accurate. There are various types of software tools used in CDSS, such as software for storage and maintenance of clinical data, statistical investigation and reporting software.
On the basis of model, CDSS are of two main types, knowledge-based CDSS and non-knowledge based CDSS. The knowledge-based CDSS uses a knowledge base, and applies rules to patient data by using an inference engine and displays results to the end users. The non-knowledge based CDSS systems rely on machine learning to analyze clinical data. The knowledge-based segment accounted for the largest share of the global market in 2019, and is expected to grow at a significant CAGR over the coming years.
On the basis of region, North America held the largest share of the global CDSS market and is projected to continue its dominance over the forecast period, owing to favorable government policies coupled with technological advancements. The massive unexplored CDSS market across the globe has created abundant opportunities for the major players to exploit its full potential. Although, there has been significant development in the developed economies of Europe and the U.S., the CDSS market is still at its nascent form, especially in the emerging economies of Asia-Pacific, CSA, and Africa. A high growth in the number of end users including hospitals, and pharmacy has been witnessed in the developing countries of these regions, which provides immense growth opportunities for the CDSS market.
Key players operating in the market include EPIC Systems Corporation; International Business Machine (IBM) Corporation; CERNER CORPORATION; Mckesson Corporation; Allscripts Healthcare Solutions, Inc; F. Hoffmann-La Roche Ltd; and Siemens Healthcare; among others.
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