Clinical Decision & Support System Market Analysis | CMI

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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).

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

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

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• 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.

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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 providers
  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.

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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.

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