Clinical Decision Support Systems Market Size is set to showcase appreciable gains from 2021 to 2027 owing to rapidly growing geriatric population across the world. The increased obligation for enhanced quality of care along with reduced medication prescription errors and healthcare expenditure has led to higher technological enhancements across healthcare IT in hospitals. Rising number of government initiatives and swelling adoption of CDSS-enabled EHRs are other factors expected to fuel the market progression.
A clinical decision support system is typically an application that analyzes data for assisting healthcare providers with enhanced decision-making and patient care. However, soaring investment requirements and rising data security concerns may pose a challenge to the market expansion.
Based on system model, industry revenue from the knowledge-based segment will rise with surging favorable government initiatives and the swelling need for improved clinical outcomes. These systems are increasingly preferred over their non-knowledge-based counterparts, as they are less prone to errors given their integration into clinical workflows. The rules in these systems can be made with the help of practice-based, literature-based, or patient-directed evidence. Rising usage to assist clinicians in making clinical decisions during uncertainties will aid the segment growth.
With respect to components, the demand for clinical decision support software is poised to rise considerably with surging requirement for effective decision making by clinicians through data analysis and support. For instance, in October 2020, Servier Group's e-health business unit, partnered with CureMatch to launch Bionov™, their self-certified and CE-marked clinical decision support software to offer personalized single drug and combined drug treatment options to healthcare professionals.
Cloud-based segment will substantially expand with surging healthcare expenditure. These solutions are easy to operate on remote servers and do need a large storage space or computational power. Rising acceptance of cloud computing technologies will favor the market dynamics.
Asia Pacific clinical decision support systems market will gain traction through 2027 due to the fast-growing geriatric population and higher incursion of digitalization in healthcare sector. The soaring prevalence of chronic diseases has made way for the increasing number of government legislations. Rising obligation for improved medical diagnostic facilities and robust presence of numerous market competitors in the region will drive market growth.
The industry share in North America will be led by the surging rate of patient awareness along with the presence of flexible healthcare policies and sophisticated infrastructure. Spiraling government support and higher technological advancements have resulted in an increasing number of investments in healthcare IT solutions. The growing research activities to offer improved decision-making in healthcare will also play an ideal role in the market demand.
Global market participants are constantly taking up persistent efforts, like new product launches and technological advancements to expand their device portfolio. They are also working on partnership-oriented strategies, to generate increased revenue sales.
For instance, in March 2020, IBM Watson Health teamed up with EBSCO Information Services (EBSCO) to launch an integrated clinical decision support solution suite, DynaMed and Micromedex with Watson, to offer enhanced clinical decision support and operations to healthcare providers and health systems.
Some other leading business players include McKesson Corporation, Epic Systems Corporation Inc., Athenahealth, Inc., Zynx Health Incorporated (Hearst Business Media Corporation), Allscripts, Agfa-Gevaert Group (IG Farben), Wolters Kluwer, Hearst Communications Inc., Elsevier (RELX, RELX Group plc), Koninklijke Philips N.V., Medical Information Technology, Inc., Cerner Corporation, and VisualDx.
The coronavirus outbreak acted as a significant propeller to industry considering the higher necessity of treatment devices and an accurate diagnosis. The thriving patient volumes along with growing obligation for effective monitoring of patients by healthcare providers have given rise to multiple growth opportunities to the market players. In December 2020, Zynx Health, considerably expanded and updated its publicly accessible COVID-19 clinical decision support present on its website, zynxhealth.com. This includes guidance on diagnostic testing, transmission-based precautions, admission/discharge criteria, therapy, and supportive care.
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