Medical Health & Life Science Research News

Clinical decision support systems market worth 1,752.0 million USD by 2023 examined in new market research report

Medical Market Research

According to a new market research report "Clinical Decision Support Systems Market by Component (Services, Software), Delivery Mode, Product, Application, Model (Knowledge-based), Type (Therapeutic, Diagnostic), Interactivity (Active, Passive), Patient Care Setting - Global Forecasts to 2023", published by MarketsandMarkets™, the market is expected to reach USD 1,752.0 Million by 2023 from USD 1,001.9 Million in 2018, at a CAGR of 11.8%. The key factors driving the growth of this market include the government support & initiatives, growing incidence of medication errors, rising prominence & usage of big data and m-health tools, high returns on investment for CDSS solutions, and growing adoption of cloud computing in healthcare.

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Services segment to dominate the CDSS Market, by component in 2017 

By component, CDSS Market is segmented into services, software, and hardware. The services segment accounted for the largest share of the global CDSS Market, by component, in 2017.

The largest share of this segment can be attributed to the recurring nature of services such as training and development, installation, software upgrades, consulting, and maintenance. However, due to the need for periodic software upgradation, the software segment is expected to witness the highest growth during the forecast period.

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By delivery mode, cloud-based systems to register the highest CAGR during the forecast period 

On the basis of delivery mode, the CDSS Market is segmented into on-premise and cloud-based systems. Cloud-based CDSS segment is expected to register the highest CAGR of the global CDSS Market during the forecast period.

The high growth of the segment can be attributed to the comparatively lower capital expenses and operational costs incurred in this model, alongside its scalability, flexibility, and affordability.

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By product, integrated CDSS to dominate the market in 2017 

On the basis of delivery mode, the CDSS Market is segmented into integrated and standalone systems. Integrated CDSS segment accounted for the largest share of the CDSS Market, by product, in 2017 and also witness the highest growth during the forecast period.

The large share and high growth of the segment can be attributed to the growing deployments of integrated CDSS.

North America to dominate the market in 2017 

Geographically, the global CDSS Market is divided into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America accounted for the largest share in 2017 owing to factors such as regulatory mandates, the prevalence of chronic diseases, rising incidence of medication errors, and increasing HCIT expenditure.

North America is followed by Europe and Asia Pacific. The Asia Pacific market is relatively nascent; however, it is projected to be the fastest growing market during the forecast period.

Cerner Corporation (US), McKesson Corporation (US), Epic Systems Corporation Inc. (US), Medical Information Technology, Inc.

(US), Philips Healthcare (Netherlands), Allscripts Healthcare Solutions, Inc. (US), Wolters Kluwer Health (US), Hearst Health (US), Elsevier B.V.

(Netherlands), and International Business Machines (IBM) Corporation (US) are the key players in the global CDSS Market.

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