Increasing number of patient footfalls in healthcare facilities and rising need for a systematic support system are driving market revenue growth
The global Clinical Decision Support System (CDSS) market size is expected to reach USD 2,562.9 Million in 2028 and register a revenue CAGR of 8.6% over the forecast period, according to the latest report by Reports and Data. Rising demand for precise and error-free tools for handling huge data of patients is driving market revenue growth. Increasing prevalence of chronic diseases across the globe is resulting in rising number of patient footfall in hospitals, which is expected to result in increase in data volume generated by the hospitals. For instance, researchers at the University of Pennsylvania use a machine learning tool to predict patients at highest risk for developing severe sepsis in just 12 hours. This new tool can monitor hundreds of key variables in real-time by taking data from more than 160,000 patients.
Adoption of cloud computing in the healthcare sector is also driving market growth. Increasing usage of healthcare IoT devices and need to document and analyze large volumes of data to deliver both personal and population health management services require cloud computing from business and technology perspectives. Cloud computing also facilitates application of technologies such as Big Data analytics, cognitive computing, mobile collaboration, and information exchange which accelerates delivery of advanced healthcare solutions. Governments of various countries across the globe also play an important role in implementing any new system or technology in the healthcare industry. CDSS is expensive and thus financial support and awareness spread by governments of various countries is expected to support revenue growth of the market.
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The rapid adoption of AI, ML, and IoT and robust data management processes has made the hospitals and clinical settings smarter. New technologies and solutions have improved the normal medical processes such as clinical diagnosis, treatment, diseases management, and monitoring patient recovery after discharge. Rapid digitalization and increasing adoption of virtual care and telemedicine is further expected to positively impact the revenue growth of the market going ahead.
Emergence of new healthcare and telemedicine startups, increasing number of collaborations among healthcare facilities and research institutions, and rising focus on patient engagement solutions has further fueled revenue growth of the market. Key companies are forming strategic alliances and collaborative ventures such as mergers and acquisitions, joint ventures, partnerships, manufacturing and licensing agreements, and product launches among others.
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Leading Players Analyzed in the Report:
Cerner Corporation, Epic Systems Corporation, Zynx Health, Allscripts Healthcare Solutions Inc., IBM, McKesson Corporation, Siemens Healthineers, Meditech, Philips Healthcare, and Wolters Kluwer Health
Furthermore, to offer a better understanding of the competitive landscape, an extensive SWOT analysis and Porter’s Five Forces analysis are included in the report. Along with this, feasibility analysis and investment return analysis are also covered in the report.
The report further discusses in detail the regional spread of the global Clinical Decision Support System (CDSS) market along with analysis of production and consumption patterns, import/export analysis, supply and demand ratio, market share and size based on volume and value, trends and demands, revenue share, and presence of the key players of the market.
Key Regions Studied in the Report:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Segmentation based on Types:
Component Outlook (Revenue, USD Million; 2018–2028)
- Services
- Hardware
- Software
Product Outlook (Revenue, USD Million; 2018–2028)
- Integrated CDSS
- Standalone CDSS
Type Outlook (Revenue, USD Million; 2018–2028)
- Therapeutic CDSS
- Diagnostic CDSS
Mode of Delivery Outlook (Revenue, USD Million; 2018–2028)
- On-Premises CDSS
- Web-Based CDSS
- Cloud-Based CDSS
Level of Interactivity Outlook (Revenue, USD Million; 2018–2028)
- Active CDSS
- Passive CDSS
Setting Outlook (Revenue, USD Million; 2018–2028)
- Inpatient
- Ambulatory Care
Usage Outlook (Revenue, USD Million; 2018–2028)
- Knowledge-Based
- Expert Laboratory Information System
- Machine Learning Systems
Application Outlook (Revenue, USD Million; 2018–2028)
- Drug Databases
- Care Plans
- Diagnostic Decision Support
- Disease Reference
- Others
End-use Outlook (Revenue, USD Million; 2018–2028)
- Hospitals
- Diagnostic Centers
- Clinics
- Retail Pharmacies
- Others
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