|
$ 1.8 Billion Clinical Decision Support Systems (CDSS) Markets - Global Forecast to 2025: Rising Prominence and Usage of Big Data and mHealth Tools
Saturday, January 23, 2021
DUBLIN, Jan. 15, 2021 /PRNewswire/ -- The "Global Clinical Decision Support Systems (CDSS) Market by Component (Services, Software), Delivery Mode, Product, Application, Model (Knowledge-based), Type (Therapeutic, Diagnostic), Interactivity (Active, Passive), Patient Care Setting and Region - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
The global clinical decision support system market is expected to reach USD 1.8 billion by 2025 from an estimated USD 1.2 billion in 2020 at a CAGR of 9.1% during the forecast period.
This report studies the clinical decision support system s market based on product, application, delivery mode, model, type, interactivity, settings. component and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth.
It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions and respective countries.
The key factors propelling the growth of this market are the implementation of government regulations and initiatives to promote the adoption of HIT solutions, increasing adoption of CDSS-enabled EHRs, increasing number of collaborations and partnerships between stakeholders, growing incidence of medication errors, and the rising prominence of mHealth and big data tools.
However, the high investment requirements for the implementation of CDSS and the lack of interoperability and data security concerns are expected to restrain the growth of this market during the forecast period.
Integrated CDSS is widely used by healthcare providers as it improves the quality of care
On the basis of product, the clinical decision support systems market is segmented into integrated CDSS and standalone CDSS. In 2019, the integrated CDSS segment accounted for the largest share of 70.4% of the market. This segment is projected to reach USD 1,384.8 million by 2025 from USD 859.2 million in 2020, at a CAGR of 10.0%. The large share of this segment can be attributed to the high and growing deployment of integrated CDSS.
Knowledge-based CDSS can provide reasoning in the face of uncertainties which is often required of CDSS solutions
On the basis of the system model, the market is segmented into knowledge-based CDSS and non-knowledge-based CDSS. In 2019, the knowledge-based CDSS segment accounted for the largest share of ~59% of the market. This segment is also estimated to register the highest CAGR of 10.2% during the forecast period.
The large share and high growth of this segment can be attributed to the several beneficial functionalities of knowledge-based CDSS, such as helping clinicians with knowledge-based reasoning to make clinical decisions in the face of uncertainties. These systems can also be integrated into clinical workflows and are less prone to errors as compared to non-knowledge-based systems.
Asia Pacific to witness significant growth from 2020 to 2025
Geographically, the clinical decision support systems market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World. The market in the APAC is expected to grow at the highest CAGR over the next five years. Factors such as the presence of a large geriatric population, improved government legislation, high burden of chronic diseases, and the growing focus of various market players on emerging Asian countries are expected to drive the growth of the CDSS market in Asia.
Some of the major market players in the clinical decision support systems market are Cerner (US), Epic (US), MEDITECH (US), Wolters Kluwer Health (Netherlands), Zynx Health (US), Elsevier B.V. (Netherlands), IBM Watson Health (US), Allscripts Healthcare Solutions (US), NextGen Healthcare (US), and Siemens Healthineers (Germany).
Market Dynamics
Drivers
-- Implementation of Government Regulations and Initiatives to Promote the
Adoption of HIT Solutions
-- Increasing Adoption of CDSS-Enabled EHRs
-- Rising Number of Collaborations and Partnerships Between Stakeholders
-- Growing Incidence of Medication Errors
-- Rising Prominence and Usage of Big Data and mHealth Tools
Restraints
-- Data Security Concerns Related to Cloud-Based CDSS
-- Lack of Interoperability
Opportunities
-- Emerging Asian Countries
-- Technological Advancements and Social Media Integration
Challenges
-- Requirement of High Investments in Infrastructure for Implementing CDSS
-- Dearth of Skilled IT Professionals in the Healthcare Industry
Impact of COVID-19 on the Clinical Decision Support Systems Market
Ecosystem Analysis
Technology Analysis
Companies Mentioned
-- Allscripts Healthcare Solutions
-- athenahealth, Inc.
-- Cerner
-- Change Healthcare
-- CureMD
-- eClinicalWorks
-- Elsevier B.V. (A Division of RELX Group)
-- Epic Systems
-- ESCBO Health (A Division of ESCBO Industries, Inc.)
-- GE Healthcare
-- Hera-MI
-- IBM Watson Health
-- Medical Algorithms Company
-- MEDITECH
-- MTBC
-- NextGen Healthcare
-- Philips Healthcare (A Subsidiary of Royal Philips Electronics)
-- RAMPMedical
-- Siemens Healthineers
-- Wolters Kluwer Health
-- Zynx Health
For more information about this report visit https://www.researchandmarkets.com/r/b4zjlx
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
View original content:http://www.prnewswire.com/news-releases/-1-8-billion-clinical-decision-support-systems-cdss-markets---global-forecast-to-2025-rising-prominence-and-usage-of-big-data-and-mhealth-tools-301209215.html
SOURCE Research and Markets
|
|
|
|
|
|
 |
Weekly Recap: 12 Press Releases You Might Have Missed | Apr 26, 2024
|
|
AUO Forges Ahead with Business Diversification, Revealing High-value Cross-domain Solutions for Retail, Education and Healthcare | Apr 26, 2024
|
|
Veeva Launches AI Partner Program | Apr 26, 2024
|
|
AI and Machine Learning in Business Market to Reach $190.5 Billion, Globally, by 2032 at 32% CAGR: Allied Market Research | Apr 26, 2024
|
|
Sapiens Launches IntegrateAI, the Second Release in its DecisionAI Portfolio | Apr 26, 2024
|
|
Weekly Recap: 14 Press Releases You Might Have Missed | Apr 26, 2024
|
|
Conversational AI Market worth $49.9 billion by 2030 - Exclusive Report by MarketsandMarkets(TM) | Apr 26, 2024
|
|
Nuvo Enhances Credit Application Software with Equifax Commercial Credit Information | Apr 26, 2024
|
|
New Eagle Expands US Headquarters and Opens New Global Offices | Apr 26, 2024
|
|
RepTrak Announces 2024 Global RepTrak® 100 Report | Apr 26, 2024
|
|
|
|
