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(Medical-NewsWire.com, January 17, 2020 ) Meticulous Research® – leading global market research company is conducting a research study on Clinical Decision Support Systems Market to understand its growth and opportunity perspective for next 5 years.
High incidences of medical errors fueled demand of global clinical decision support systems
Medication errors are one of the most common causes of death and disability across the globe. According to FDA, 1.3 million people get affected by medication errors annually in the U.S. According to a study of John Hopkins University, in 2016, 10% of all deaths were due to medication errors and medical error was the third largest cause of death in the U.S. Similarly, in 2017, British Medical Journal published that medical errors and health-care related adverse events accounts for 8% to 12% of hospitalizations across the European Union countries. CDSS enable healthcare providers to make the best clinical decisions based on current circumstances, helping in prevention of medication errors and adverse event. Thus, increasing incidences of medical errors will lead the adoption of CDSS solution which in turn is expected to drive the market growth..
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Previous Key Findings of Global CDSS Market Study:
Services Segment Dominates the Clinical Decision Support Systems Market
Services segment accounted for the largest market share over software and hardware in 2018, owing to frequent need of services for the installation, operation, and maintenance of clinical decision support systems. However, software segment is expected to register fastest growth in near future.
Integrated CDSS segment Dominates the Global Clinical Decision Support Systems Market, By Product
In 2018, integrated CDSS solutions commanded the largest share as compared to standalone CDSS. This segment is also expected to witness fastest growth as these systems provide clinicians and decision-makers with a robust database to support evidence-based clinical decision-making.
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Cloud-based Systems to Register the Fastest CAGR
On the basis of delivery model, CDSS Market is segmented into on-premise and cloud-based CDSS. On-premise CDSS commanded the largest share in 2018. However, cloud-based CDSS is expected to register the highest CAGR during the forecast period owing to greater flexibility, easy scalability, and low capital expenses and operational cost incurred in this model.
North America Dominates the Global Clinical Decision Support Systems Market
North America commanded the largest share in 2018, followed by Europe, Asia-Pacific and Rest of the World (RoW). The largest share of North America is attributed to regulatory mandates for value-based care, rising incidence of medication errors, need to curb increasing healthcare expenditure, and significant presence of health IT players in the region.
The major players operating in the Clinical Decision Support Systems Market are Wolters Kluwer Health (U.S.), Hearst Health (U.S.), Elsevier B.V. (The Netherlands), Cerner Corporation (U.S.), McKesson Corporation (U.S.), Epic Systems Corporation (U.S.), MEDITECH (U.S.), Philips Healthcare (The Netherlands), International Business Machines (IBM) (U.S.), and Allscripts Healthcare Solutions, Inc. (U.S.).
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In last few years, CDSS has become more popular among healthcare organizations and its adoption is increasing exponentially across the globe. In order to cater unmet needs of healthcare professionals and improve healthcare delivery, CDSS vendors are focusing on development of next-gen CDSS. In addition, penetration of artificial intelligence and machine learning are underlined as a key trend in clinical decision support tools and CDSS vendors are working to incorporate it to transform and revolutionize diagnostics in pathology, radiology, and imaging areas.
Key questions answered in the report:
How does the penetration of clinical decision support systems in conventional application differ from the advanced application?
Which are the high growth market segments in terms of component, product, type, model, delivery mode, application, level of interactivity, settings, and regions/countries?
What are the key trends in the adoption of CDSS services market?
How does the penetration of CDS system service differs from other components of the system?
What strategies should new companies looking to enter this market to compete effectively?
What are the major drivers, restrains, challenges, and opportunities in the clinical decision support systems market?
Who are the major players in various countries and what share of the market do they hold?
What are the geographical trends and high growth regions/ countries?
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