Albany, NY -- (SBWire) -- 11/19/2018 --Clinical Decision Support System Market: Snapshot
The global clinical decision support system market is rising with rule based expert system, funding from societies for improving point of care, and increasing primary healthcare support across the globe is expected to drive the growth of market. The global clinical decision support system market was valued over US$ 523.8 Mn in 2016 and is projected to witness cumulative annual growth rate (CAGR) of over 11% from 2017 to 2025 to surpass the value of US$ 1,318.4 Mn by 2025. The global market is witnessing relatively higher growth owing to increasing digitization of medical practices, high healthcare IT budgets and rise in demand for chair time optimization in developed markets.
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Clinical decision support system is an administrative as well as clinical tool that helps in improving operational efficiency of healthcare practices. The hospitals and clinics are required to handle with the large volume of patient information both administrative as well as clinical information. In order to handle the large volume of data, medical professionals and front office staff are always in search of effective way to record, store and improve the access to patient information in efficient manner. The clinical decision support system aids the medical professionals and patients to streamline the workflows of medical practices and thus to improve overall operational efficiency as well as patient care. Physician recommendation for updating systems with alert systems and new technological innovation by different key players can also accelerate the growth in clinical decision support system market. These factors collectively projected to drive the demand for global clinical decision support system in near future. Also, the technological advancements such as software integration facilities with other electronic health records is estimated to fuel the expansion of clinical decision support system market.
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Clinical Decision Support System Market: Segment outlook
The global clinical decision support system market is broadly segmented into four categories based on usage based, by application, by mode of advice, by delivery model, by end-user and by region. In terms of delivery model, the global market is categorized into on premise, web based and cloud based clinical decision support system. The market for on premise clinical decision support system accounted for key share (in terms of revenue) in global market in 2016, the cloud based clinical decision support system is estimated to grow at exponential growth rate during the forecast period and the segment is estimated to report significant gain in its market share by the end of 2025. The cloud based clinical decision support system offers the several advantages over on premise and web based clinical decision support system and thus, cloud based clinical decision support system is increasingly gaining popularity among physicians, especially among group dental practice management offices and clinics. By mode of advice, the global clinical decision support system market has been segmented into active clinical decision support system and passive clinical decision support system. Passive CDSS segment is anticipated to be the most attractive market due to advantages such as providing valid and reliable information, saving user's time, integrating system recommendation alerts. However, increased voluntary disclosures and reducing intensity of lenders by the users are anticipated to boost the active CDSS segment from 2017 to 2025.
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In terms of application, the global clinical decision support system is segmented into drug databases, care plans, diagnostic decision support, disease reference, others. The drug database and diagnostic decision segment is dominated the global market and is likely to maintain its dominance by the end of 2025 with marginal increase in its market share. Increasing adoption of digital platforms by the younger population for appointment scheduling, creating alert system by physicians & nurses, value added features provided by the patient management and billing applications such as paperless patient data recording and storage, e-billing and insurance claiming etc. has led to prominent share of the segment in global market. Based on usage based, the clinical decision support system market is segmented as knowledge-based systems, expert laboratory information system, and machine learning systems. The knowledge-based systems segment dominated the global clinical decision support system market accounting for the highest share in 2016 as these usage based systems are mostly utilized due to rising incidences of various diseases resulting from medication errors. The knowledge-based systems segment is also expected to register the fastest growth rate during the forecast period due to growing need of integrate healthcare IT solutions in hospitals, clinics and others. Also, improved quality of care and clinical outcomes, and some favorable government initiatives is expected to propel the knowledge-based systems segment growth rate during forecast period. By end-user, the global market has been segmented into dental clinics and hospitals.
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Global Clinical Decision Support System Market Expected to Reach USD 1.3 Billion Globally in 2025