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Clinical Decision & Support System Market Analysis | CMI

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Clinical Decision & Support System Market Analysis | CMI

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. CLINICAL DECISION & SUPPORT SYSTEM MARKET ANALYSIS • Clinical Decision and Support System Market- by Products (Stand Alone CDSS and Integrated CDSS), by Component (Hardware, Software and Services), by Mode of Delivery (On Premise CDSS and Cloud based CDSS), by Application (Diagnosis Support, Prescription Support, Clinical Alert and Clinical Guideline and Others), by End User (Hospitals, Ambulatory Centers, Clinics and Others ), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018 - 2026 • The global clinical decision support system market size was valued at US$ 767.4 million in 2017, and is expected to witness a CAGR of 11.69 % over the forecast period (2018 – 2026).

  3. Figure 1. Global Clinical Decision Support System Market Value (US$ Mn), by Region, 2017

  4. Market Drivers • Various benefits provided by the CDSS to drive growth of the Clinical Decision Support System Market • According to report by Healthcare Information and Management Systems Society in 2011, Clinical decision support system has been proved to be helpful in reducing number of days at hospitals, reduction in hospital readmissions, preventing the incidence of medical error, and adverse events due to clinical decision. Advantages offered by clinical decision support system are expected to increase its adoption among end users, which in turn is driving growth for the clinical decision support system market. • Developed economy such as the U.S. invests US$ 10,000 per person annually, according to data given by the Organization of Economic Cooperation and Development in 2017. Significant cost is incurred due to various medical errors and adverse drug events. According to study published in the BMJ, in 2016, more than 250,000 people die annually due to medical errors in the U.S. Significant number of deaths and extra cost on hospital stay can be saved by integrating CDSS in the healthcare provider infrastructure. • Legislations such as Act Health Information Technology for Economic and Clinical Health Act (HITECH), 2009 has compelled the adoption and meaningful use of clinical decision support systems and other health IT platforms by 2015. Failing to implement this resulted in reduction in Medicare reimbursements in the following year (after 2015).

  5. Figure 2. Global Clinical Decision Support System Market Segmentation

  6. Increasing chronic disease prevalence worldwide to propel growth of the clinical decision support system market • Increasing prevalence of the chronic disease such as cancer, diabetes, and cardiovascular disease worldwide is propelling demand for its accurate diagnosis, treatment plan, and continuous care. According to the data published by American Heart Association, in 2016, annual cost of cardiovascular disease and stroke in 2011 – 2012 was US$ 193.1 billion in medical care and about US$ 123 billion in lost productivity from premature death. This cost can be reduced by adopting clinical decision support system, which could prevent and control major risk factors for CVD such as hypertension, hypercholesterolemia, and diabetes.

  7. Key players are launching new products, which is expected to propel growth of the clinical decision support system market. In February 2018, the US Food and Drug Administration (FDA) granted marketing clearance for Viz.AI's Contact application. It is first Artificial Intelligence-based Clinical Decision Support (CDS) solution approved in the U.S. Integration of the Electronic Health Record(EHR), Computerized Physician Order Entry(CPOE) into CDSS by key players are expected to increase the adoption of the CDSS system, in turn driving growth of the clinical decision support system market. Furthermore, key players are entering into licensing deals with leading hospitals and healthcare groups to expand their consumer base and improve revenue prospects.

  8. Market Restraints • However, CDSS system has few limitation in its operation, which may hinder growth of the clinical decision support system market. • CDSS must integrate with a healthcare provider’s clinical workflow, which is often complex task. Incorporating large amounts of data into existing systems places significant strain on application and infrastructure maintenance • Few clinical decision support systems ,which are stand-alone lack facility for integration with EHR system, which may lead to repetition of task • Updating development in clinical data on regular basis from ongoing clinical research and medical trials is challenging, as vast number of research and medical trials are being published every day.

  9. Key Players • Key players operating in the clinical decision support system market include Cerner Corporation, Allscripts Healthcare Solutions, Inc., IBM Watson Health, GE Healthcare, Change Healthcare, Zynx Health, Carestream Health Inc., First Databank, Inc., NextGen Healthcare Information Systems, Agfa Healthcare, Medical Information Technology Inc., Athena Health, Wolters Kluwer NU, Siemens Healthineers, and Philips Healthcare.

  10. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst • Reference : https://www.coherentmarketinsights.com/market-insight/clinical-decision-and-support-system-market-2054

  11. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  12. Contact Us Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

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