Report Scope & Overview:
The Clinical Decision Support Systems Market Size was valued at USD 5.08 billion in 2022 and is expected to reach USD 11.04 billion by 2030, and grow at a CAGR of 10.2% over the forecast period 2023-2030.
One of the important factors driving market expansion is the growing need for high-quality care and integrated, dependable technical solutions. Hospitals and healthcare institutions are increasingly adopting information technology, and various governments throughout the world are taking positive steps to boost the sector. The FDA, for example, regulates clinical decision support systems quite carefully. As a result, platforms that have been released or in the development phase must meet FDA and CE Mark requirements. In addition, competitors must ensure that information technology and cyber regulations are not broken in order to ensure the integrity of their products.
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MARKET DYNAMICS:
DRIVERS
Medication errors are becoming more common.
Hospitals are becoming more numerous.
Data-driven technologies are becoming increasingly popular.
The number of emergency department (ED) visits is decreasing.
RESTRAINTS
Data Privacy Threat
Implementation Costs Are Exorbitant
OPPORTUNITIES
Healthcare Information Technology Advancements
Asian countries in transition
IMPACT OF COVID-19
Medical practices of all sizes are under tremendous strain as a result of the COVID-19 pandemic, and healthcare facilities around the world have been overburdened by the high number of patients who see them on a regular basis. In various nations around the world, the onset of this epidemic has fueled demand for effective detection and treatment equipment. Clinical decision support systems have proven to be quite useful in this area, as they allow healthcare personnel to monitor patients using non-invasive digitally connected equipment like home blood pressure monitors and pulse oximeters. Furthermore, due to the disease's rapid spread around the world, hospital wards and healthcare staff are in limited supply. The need for linked medical devices for vital sign monitoring has risen as a result.
The COVID-19 epidemic has also raised the requirement for social distancing between physicians and patients, driving demand for distant patient monitoring and telemedicine solutions, as well as the necessity for accurate and rapid patient health record interchange. Several market companies have included COVID-19-related functionality into their existing EHRs, which are being made available to consumers for free.
The demand for EMR and EHR solutions to manage sophisticated patient data has expanded as patient volumes have grown. As a result, hospitals are focusing more on enhancing their capabilities by connecting multiple hospital systems with EHRs.
By product:
Due to its low cost and simplicity, standalone CDSS had the highest revenue share in 2021. Its popularity is due to its ease of usage in hospitals and therapeutic settings. All throughout projected period, the solitary category will continue to dominate the market. CDSS items can be utilized autonomously or related to an Electronic Health Records (EHR) or CPOE, or both.
By Application:
Drug allergy notifications accounted for approximately 25.0% of total revenue. Because many people are allergic to certain pharmaceuticals, it is critical to have systems in place that provide allergy alerts. The prevalence of allergies, particularly medication allergies, is increasing. A medical error can occur during the process of prescribing, dispensing, or administering a prescription, and it can have serious consequences, such as giving medication to a patient who has a documented allergy to that substance.
By Component
The services segment accounted for almost 41.0% of total revenue. This is due to regular programe upgrades and the knowledge base available for use. The support of parts and their adornments is one of CDSS's administrations. It incorporates equipment and programming overhauls, as well as admittance to an information data set that covers the latest leap forwards and medications.
By Delivery
The on-premise systems category accounted for nearly 41.0% of total sales. Due to tremendous advancement in information technology, cloud-based systems represented the second-largest revenue share in 2021, with potential applications in the healthcare industry. The expansion of this segment is fueled by factors such as reliability and cost-effectiveness.
KEY MARKET SEGMENTATION:
By Product
Standalone CDSS
Integrated E.H.R. with CDSS
Integrated CPOE with CDSS
Integrated CDSS with CPOE & E.H.R.
By Application type
Clinical Reminders
Drug-drug Interactions
Clinical Guidelines
Drug Allergy Alerts
Drug Dosing Support
Others
By Delivery Type
Cloud-based Systems
Web-based Systems
On-premise Systems
By Component type
Software
Hardware
Services
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REGIONAL ANALYSIS
North America, Europe, Asia Pacific (APAC), and the Rest of the World are the segments of the clinical decision support system market. Over the next five years, the market in APAC is predicted to develop at the fastest rate. The CDSS market in Asia is predicted to increase due to factors such as the presence of a large ageing population, improved government laws, a high burden of chronic diseases, and the increasing focus of key industry players on emerging Asian countries.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
KEY PLAYERS:
Some of the major key players are as follows: IBM Corporation, Allscripts Healthcare, LLC, Koninklijke Philips N.V. (Royal Philips), McKesson Corporation, NextGen Healthcare Inc., Cerner Corporation, Siemens Healthineers GmbH, Wolters Kluwer N.V., athenahealth, Inc., Agfa-Gevaert Group, and other players.
Koninklijke Philips N.V-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 5.08 Billion |
| Market Size by 2030 | US$ 11.04 Billion |
| CAGR | CAGR of 10.2% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product (Standalone CDSS, Integrated E.H.R. with CDSS, Integrated CPOE with CDSS, Integrated CDSS with CPOE & E.H.R.) • By Application type (Clinical Reminders, Drug-drug Interactions, Clinical Guidelines, Drug Allergy Alerts, Drug Dosing Support, Others) • By Delivery Type (Cloud-based Systems, Web-based Systems, On-premise Systems) • By Component type (Software, Hardware, Services) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | IBM Corporation, Allscripts Healthcare, LLC, Koninklijke Philips N.V. (Royal Philips), McKesson Corporation, NextGen Healthcare Inc., Cerner Corporation, Siemens Healthineers GmbH, Wolters Kluwer N.V., athenahealth, Inc., Agfa-Gevaert Group, and other players. |
| DRIVERS | • Medication errors are becoming more common. • Hospitals are becoming more numerous. • Data-driven technologies are becoming increasingly popular. |
| RESTRAINTS | • Data Privacy Threat • Implementation Costs Are Exorbitant |
Ans:- The Clinical Decision Support Systems Market Size was valued at USD 5.08 billion in 2022.
Ans:- The Clinical Decision Support Systems market is growing at a CAGR of 10.2% over the forecast period 2023-2030.
Over the next five years, the market in APAC is predicted to develop at the fastest rate. The CDSS market in Asia is predicted to increase.
Medication errors are becoming more common, Hospitals are becoming more numerous, and Data-driven technologies are becoming increasingly popular all propelling the Clinical Decision Support Systems market forward.
Data Privacy Threat, Implementation Costs Are Exorbitant are the main restraints of the Clinical Decision Support Systems market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Clinical Decision Support Systems Market Segmentation, By Product
8.1 Standalone CDSS
8.2 Integrated E.H.R. with CDSS
8.3 Integrated CPOE with CDSS
8.4 Integrated CDSS with CPOE & E.H.R.
9. Clinical Decision Support Systems Market Segmentation, By Application type
9.1 Clinical Reminders
9.2 Drug-drug Interactions
9.3 Clinical Guidelines
9.4 Drug Allergy Alerts
9.5 Drug Dosing Support
9.6 Others
10. Clinical Decision Support Systems Market Segmentation, By Delivery Type
10.1 Cloud-based Systems
10.2 Web-based Systems
10.3 On-premise Systems
11. Clinical Decision Support Systems Market Segmentation, By Component type
11.1 Software
11.2 Hardware
11.3Services
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13. Company Profiles
13.1 IBM Corporation
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Allscripts Healthcare, LLC
13.3 Koninklijke Philips N.V. (Royal Philips)
13.4 McKesson Corporation
13.5 NextGen Healthcare Inc.
13.6 Cerner Corporation
13.7 Siemens Healthineers GmbH
13.8 Wolters Kluwer N.V.
13.9 thenahealth, Inc.
13.10 Agfa-Gevaert Group.
14. Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share Analysis
14.3 Recent Developments
15. Conclusion
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