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Clinical Decision & Support System Market Analysis | CMI

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Title: Clinical Decision & Support System Market Analysis | CMI


1
  • Coherent Market Insights
  • Market Research and Business Consulting Services
  • https//www.coherentmarketinsights.com/
  • COVID-19 Impact Tracker

2
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).

3
Figure 1. Global Clinical Decision Support System
Market Value (US Mn), by Region, 2017
4
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).

5
Figure 2. Global Clinical Decision Support System
Market Segmentation
6
  • 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.

7
  • 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.

8
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.

9
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.

10
  • Request Sample Report
  • Request Customization
  • Download PDF Brochure
  • Talk to Analyst
  • Reference https//www.coherentmarketinsights.com
    /market-insight/clinical-decision-and-support-syst
    em-market-2054

11
About Us
  • Coherent Market Insights is a global market
    intelligence and consulting organization focused
    on assisting our plethora of clients achieve
    transformational growth by helping them make
    critical business decisions.
  • What we provide
  • Customized Market Research Services
  • Industry Analysis Services
  • Business Consulting Services
  • Market Intelligence Services
  • Long term Engagement Model
  • Country Specific Analysis

12
Contact Us
  • Mr. Shah
  • Coherent Market Insights Pvt.Ltd.
  • Address 1001 4th Ave, 3200 Seattle, WA 98154,
    U.S.
  • Phone 1-206-701-6702
  • Email sales_at_coherentmarketinsights.com

13
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