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Global Clinical Decision Support Systems Market to Grow at a CAGR of 9.8% During 2022-2027, Aided by the Exponential Increase in Medical Knowledge

According to a new report by EMR titled, ‘Global Clinical Decision Support Systems Market Report and Forecast 2022-2027’, the market attained a value of about USD 1.5 billion in 2021. The market is further expected to grow at a CAGR of 9.8% in the forecast period of 2022-2027 to reach a value of nearly USD 2.63 billion by 2027.

The clinical decision support systems market is being propelled by the exponential increase in medical knowledge. The increasing demand for clinical decision support systems that can integrate with existing workflows while reducing alert fatigue is fuelling the market growth. With the growing popularity of wearables, clinical decision support systems are increasingly deployed as a real-world data collector for complex and heterogeneous health-related data to support personalised and accurate decisions for patients and healthcare providers. The surging penetration of smart devices and technologies like telehealth or telemonitoring is also propelling the demand for clinical decision support systems.

 

Advancements in clinical decision support solutions by significant companies are driving the clinical decision support systems market growth. In March 2020, IBM Watson Health (NYSE: IBM) announced a strategic collaboration with EBSCO Information Services (EBSCO). The collaboration was aimed at enhancing clinical decision support (CDS) and operations for health systems and healthcare providers. Under the collaboration, the companies would combine their solution suites, DynaMed and IBM Micromedex with Watson into a high-value and single solution called ‘DynaMed and Micromedex with Watson’.

 

The combined solution would be designed to integrate disease and drug content into a single source to provide evidence-based insights to support clinical decisions. The solution would be designed to provide clinicians with direct access to disease updates and direct content at the point of care to aid in clinical decision-making. It would also deliver innovation and value to healthcare organisations, facilitating rapid access to high-quality medical evidence vital for healthcare providers.

 

Market Analysis by Model, Delivery Mode, Component, Product, Application, End Use, and Region:

  • The clinical decision support systems market, on the basis of model, can be divided into knowledge-based CDSS and non-knowledge CDSS.
  • Based on delivery mode, the market can be divided into on-premise and cloud-based.
  • The major components of clinical decision support systems include software, hardware, and services.
  • By product, the market is divided into integrated CDSS and standalone CDSS.
  • On the basis of application, the market is segmented into clinical drug information, disease and condition management, and clinical informatics and surveillance, among others.
  • The major end uses of clinical decision support systems are clinics, hospitals, and ambulatory surgical centres, among others
  • The regional markets for clinical decision support systems include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Key Findings of the Report:

  • The rising adoption of information systems by healthcare institutions and hospitals is bolstering the clinical decision support systems market growth.
  • The market for clinical decision support systems is being driven by advancements in bioinformatics and biotechnology, which, in turn, is leading to optimisation in management, data storage, and analytics platforms.
  • The integration of cloud computing in clinical decision support systems is positively impacting the market growth.
  • The growing implementation of clinical decision support systems to enhance decision-making in various clinical activities is augmenting the market.

 

Key Offerings of the Report: 

  • The EMR report gives an overview of the global clinical decision support systems market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the models, delivery mode, components, products, applications, end uses, and major regions of clinical decision support systems.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

 

The major players in the global clinical decision support systems market are Cerner Corporation, IBM Corporation, Koninklijke Philips N.V., Wolters Kluwer N.V., and Zynx Health, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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