Clinical Decision Support Systems (CDSS) Market Forecast to Grow at 9.8% till 2020

2024-04-14 06:58:55 Health and Fitness

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Clinical Decision Support Systems (CDSS) is a system that is integrated into the patient?s electronic flow sheets designed to assist the physicians during clinical decision making. CDSS comprises of either of a program that correlates the knowledge base of patient?s data and provide relevant information to the clinician or non-knowledge base, where the concept of machine learning is utilized. CDSS significantly reduces the medical errors that lead to higher number of deaths as compared to the deaths caused by breast cancer, AIDS or car accidents.

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The CDSS covers a wide range of tools to augment healthcare which include Alerts and reminders, Diagnostic assistance, Documentation forms, Order creation facilitators, Protocol support, Image Recognition and Interpretation, Prescription decision support, Information retrieval, Therapy Critiquing and Planning and more. This report on CDSS market analyses various applications and covers the market demand with respective regions.

Overall, CDSS market is analyzed along various parameters such as
? Device
? Decision making mechanism
? Application
? Timing of use and
? Geography.

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As per IndustryARC analysis, the global CDSS market recorded revenue of $3.5 billion in 2014, and is estimated to grow at a CAGR of 9.8% during 2015 ? 2020. The high growth rate in this market is due to favorable government initiatives to control healthcare expenditures, demand for seamless integration with patient workflow, proper documentation and reliability.

Globally, Americas is estimated to continue holding the majority share of CDSS market, due to increased adoption of these technologies and increased government support. With respect to the global market, the US itself holds 28% of the entire CDSS market share due to presence of numerous companies operating in this space and huge R&D investments. Europe is the second major market followed by APAC, together accounting for around 49% of the global CDSS market of 2014. Other factors affecting the growth of the market include skilled healthcare information technology professionals, risk of data breaching, demand to reduce medical errors and many others.

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The major players operating in the global CDSS market include Epic Systems Corporation (U.S.), McKesson Corporation (U.S.), Alere Inc. (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Wolters Kluwers NV (Netherlands) and many more. Companies like Cerner Corporation, Elsevier B.V., and Meditech, Inc are also the prominent players in this market. As per IndustryARC analysis there is more number of knowledge based CDSS software manufacturers compared to non-knowledge based CDSS technology developers. With the growing demand to reduce medication errors and the huge cost associated with it, the healthcare providers are increasingly showing interest in the CDSS adoption.

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