According to the new market research report by IndustryARC titled “Clinical Decision Support System Market By Mode (Active CDSS, Passive CDSS); Decision Mechanism (Knowledge and Non-Knowledge Based); By Applications, Timing of Use and Geography - Analysis and
Forecast (2018-2023)”, the market is driven by the healthcare initiatives of the government.
Americas dominates the Clinical Decision Support Systems Market
Americas holds a major share in the Clinical Decision Support Systems Market. It is expected to reach $534.03 million by 2023 at a CAGR of 9.6%. USA is the largest market for CDSS and is expected to reach $267.8 million at a CAGR of 7.8%. This is followed by Europe and Asia Pacific. In America, the growth of the market can be attributed to the expansion of the healthcare informatics market in countries like US and Canada. The government in US has begun implementing digitalization of medical records in hospitals by enforcing laws such as the American Recovery and Reinvestment Act (2009) and Health Information Technology for Economic and Clinical Health Act (HITECH). These factors drive the adoption of health information technology systems, thereby enabling hospitals to digitalize the records by integrating Electronic Health Records or Electronic Medical Records. The increasing adoption of digital records drives the growth of clinical decision system management.
Selected Analysis done in the full Report:
Alerts and reminders are activated in the background during patient and data entry. They prepare real time information for the decision makers to update a patient’s status, augment a decision, and to prevent a negative action. They even provide notification of errors to the new patient data entered by the user to warn of any hazardous potential of the new medication. The reminders provide key information to the providers without the requirement of immediate action on the issue. The real time reminders can be sent to the clinician through pages, email, and printed messages placed in the patient charts.
Standalone devices account for the majority of the revenue in the Clinical Decision Support Systems Market. This segment is expected to reach $685.8 million at a CAGR of 8.5%. Data entry integrated system will experience a growth of $401.4 million at 11.5%.
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Excerpts on Market Growth Factors
• The clinical decision support systems can reduce the medical errors by helping the decision makers in improving the overall health of the patient. This factor drives the growth of the Clinical Decision Support Systems Market.
• Healthcare initiatives undertaken by the government, enhance the demand for clinical decision support systems. E.g. Health Information Technology for Economic and Clinical
Health (HITECH) act.
• CDSS enhances the quality and efficiency of the patient workflow. It helps in evidence based decision making with the help of the algorithm based software and needs frequent software updates. Proper integration along with user friendliness and ease of operation enhances the growth of clinical decision support systems.
• CDSS can maintain a patient’s health related data such as medical prescriptions, diagnostic test reports, physician referral orders and patient disease history. The technique helps physicians to access the latest scientific research data when an unintended decision taken by the clinician may endanger the health of the patient.
Key players of the Clinical Decision Support Systems Market
Epic Systems Corporation, McKesson Corporation, Alere Inc., Allscripts Healthcare
Solutions, Inc. and Wolters Kluwer N.V are the key players of the Clinical Decision Support Systems Market. Alere Inc. is a healthcare company which manufactures diagnostic devices and provides other services. It has its operations in 25 countries including Japan, Portugal, Australia, and Germany. Wolters Kluwer Health, headquartered in Philadelphia, delivers data to health professionals and institutions from the field of medicine, pharmacy, and nursing. McKesson Corporation operates in two business segments, namely Distribution Solutions and Technology Solutions. The McKesson Technology Solutions segment includes McKesson Health Solutions, which includes clinical decision solutions.
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