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Wilmington, Delaware, United States, May 25, 2023 (GLOBE NEWSWIRE) — The global clinical decision support system market was valued at US$ 1.2 Bn in 2022 and is projected to record a CAGR of 8.8% from 2022 to 2031 to reach US$ 2.3 Bn by 2031.
Rapid incorporation of machine learning and artificial intelligence (AI) tools/techniques in clinical diagnosis decision support systems (DDSS) of diseases is likely to create significant growth opportunities in the clinical decision support system industry. According to recent market trends, usage of non-knowledge based CDSS in precision radiology has been increasing for the last few years.
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The clinical decision support system market is expected to expand at a rapid pace due to supportive government initiatives to incentivize rapid development and implementation of EHR-integrated clinical decision support technologies in several areas of patient care. Surge in demand for these technologies in emerging applications, such as emergency medicine and for diagnosis and monitoring of allergic diseases, is anticipated to provide lucrative business opportunities in the near future. For instance, rise in utilization of CDSS to improve adherence to evidence-based medicine in the management of allergic diseases.
Key Findings of Study
- Considerable Adoption of Knowledge-based CDSS: Based on usage, the knowledge-based clinical decision support system segment is projected to expand at a steady pace in the next few years. The segment accounted for the leading market share of 61% in 2020. Rapid increase in utilization of rule-based approaches in clinical decision making has been fueling the segment for the last few years. Extensive usage of CDSS in diagnostic support is likely to accelerate adoption of knowledge-based system. For instance, application of knowledge-based CDSS among radiologists is expected to augment the market value.
- Rise in Demand for Cloud-based CDD: Rapid increase in deployment of cloud-based clinical decision support system is likely to generate significant revenue opportunities for companies in the market. Surge in preference for cloud-based deployment of CDSS is majorly due to the need to ensure the privacy and security of medical data/patient data. Moreover, healthcare providers are benefitting from anytime and anywhere, secure access to clinical as well as non-clinical data at the point of care. Cloud computing enables easy storage and access to these data at low cost. Rise in demand for smart CDSS in the management of chronic diseases, such as diabetes, is anticipated to propel the cloud-based delivery model segment of the market in the near future.
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- Rapid development in computerized clinical support technology with consistent focus on improving patient care is one of the key drivers of the clinical decision support system market. Growing awareness about functions and benefits of CDSS among healthcare professionals and patients is expected to broaden the market outlook in the next few years.
- Rise in collection of patient data through electronic health records (EHR) in real-time and computerized provider order entry (CPOE) systems has led to rapid evolution of the clinical decision support system (CDSS) market. Steady rise in adoption of EHR in several countries around the globe is a significant factor driving the clinical decision support system market development.
Regional Growth Dynamics
North America is likely to constitute the leading market share of 40% of the total market by 2031. The market (regional) is estimated to reach US$ 892.66 Mn by the end of 2031. The U.S. is the major market in the region. Considerable R&D activities in diagnostic and prognostic platforms for chronic diseases are expected to fuel the market in the U.S. Significant investment in healthcare IT solutions and rise in use cases of AI in medicine are expected to boost the market size in North America. Rise in initiatives by the government in the U.S. to endorse EHR adoption is likely to accelerate the demand for CDSS in hospitals and clinics. Leading players are focused on expansion of their presence in the region, which is likely to augment market development in the next few years.
Prominent companies in the clinical decision support system market are
- Allscripts Healthcare Solutions Inc.
- First Databank Inc.
- Truven Health Analytics
- Philips Healthcare
- Siemens Healthcare
- GE Healthcare
- Epic Systems Corporation
- Optum Inc.
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Clinical Decision Support System Market Segmentation
- Knowledge-based Systems
- Expert Laboratory Information Systems
- Machine Learning Systems
Mode of Advice
- Passive CDSS
- Active CDSS
- Drug Databases
- Care Plans
- Diagnostic Decision Support
- Disease Preference
- Diagnostic Centers
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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