Clinical Decision Support Systems Market worth $1.8 billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Dec. 9, 2020 /PRNewswire/ -- According to the new market research report "Clinical Decision Support Systems Market by Component (Services, Software), Delivery Mode, Product, Application, Model (Knowledge-based), Type (Therapeutic, Diagnostic), Interactivity (Active, Passive), Patient Care Setting - Global Forecast to 2025", published by MarketsandMarkets™, the Global CDSS Market size 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.
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The Growth in this market can be attributed to factors such as the implementation of government regulations and initiatives to promote the adoption of HIT solutions, increasing adoption of CDSS-enabled EHRs, an 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.
The clinical decision support systems market includes Tier I and II vendors like Wolters Kluwer Health (Netherlands), Zynx Health (US), Elsevier B.V. (Netherlands), among others. The companies have a large market spread across various countries in North America, Europe, Asia Pacific, and the Rest of the World. The global COVID-19 outbreak has positively impacted the business to a certain extent. Sales in developed country is rising as the solution provides informed decision support to ensure accurate diagnosis. It is yet to gain some momentum in developing countries due to its high cost and lack of infrastructure in these countries. But, the market will grow at a significant CAGR of 9.1% between 2020-2025.
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
Based on the system model, the CDSS 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 than non-knowledge-based systems.
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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 prominent players operating in the clinical decision support system market include 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).
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