Dubai, UAE, Feb. 15, 2023 (GLOBE NEWSWIRE) -- Global Clinical Decision Support (CDS) Market:
In the last few years, the global Clinical Decision Support (CDS) Market experienced a significant growth in revenue, which can be attributed to a variety of factors, including the fact that it provides physicians, patients, and staff with person-specific information and expertise. The market is poised to benefit from the increasing global demand for advanced algorithms and service-specific architecture, which provide systematic and interactive interfaces to address the growing prevalence of chronic diseases.
Furthermore, the major factor driving the market's expansion is the increased demand for trustworthy technology solutions that are integrated into high-quality care. The market is expanding due to the increasing usage of information systems by hospitals and healthcare organizations, as well as beneficial global government initiatives.
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Data management, analytics, and storage platforms are being improved and optimized as a result of the quick developments in biotechnology and bioinformatics which further bolsters the market growth. The market is expected to experience a significant number of innovations as a result of rising R&D programs supported by significant corporate investments. Integration of interoperability and cloud computing platforms into various systems would further drive efficient operation and seamless data flow, accelerating the adoption of CDS.
Key Report Insights:
- Global Clinical Decision Support (CDS) market is expected to grow at a CAGR of 11.6% from 2022-2030, reaching $2.9 billion by 2030.
- The growth in the CDS market is driven by the rising demand for person-specific information and expertise, the increasing usage of information systems by hospitals and healthcare organizations, and beneficial government initiatives.
- The standalone segment of the CDS market held the highest market share of over 31% in 2021, while the integrated segment is expected to exhibit profitable growth through 2030.
- The cloud-based segment is anticipated to dominate the global clinical decision support market share due to the rising cost of healthcare and the growing adoption of cloud computing.
- The CDS market is expected to experience innovations due to rising R&D programs supported by significant corporate investments, and the integration of interoperability and cloud computing platforms into various systems would drive efficient operation and seamless data flow, accelerating the adoption of CDS.
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The Global Clinical Decision Support (CDS) Market is segmented as follows:
By Component
- Hardware
- Software
- Services
By Product
- Integrated
- Standalone
Standalone Segment Captured over 31% of Global Clinical Decision Support Revenue Share
The standalone segment of the clinical decision support market held the highest market share of over 31% in 2021 due to its wide adoption, low cost, and simplicity. The highest share is attributable to the ease of usage in clinical and hospital settings, and the segment is anticipated to maintain its market dominance throughout the forecast period. Products from CDS can be purchased independently, in conjunction with computerized provider order entry (CPOE), the electronic health record (EHR), or both.
However, due to increased awareness and deployment of EHR by the multi-specialty healthcare sector, the integrated segment is expected to exhibit profitable growth through 2030 influencing the clinical decision support market share integrated with EHR. These systems give CDS access to the patient database and medical history so that it can automate the clinical workflow by offering clinical solutions and prescription recommendations to the practitioner. To improve workflows and utilize current data sets, CDS, and EHRs are frequently connected. A growing number of CDS features are being incorporated into EHR systems, which is anticipated to boost segment growth.
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By Application
- Alerts and Reminders
- Medical Diagnosis
- Information Retrieval
- Others
By End-User
- Hospitals
- Ambulatory Surgery Centers
- Clinics
By Delivery Mode
- Web-based
- Cloud-based
- On-premises
Cloud-Based Segment to Dominate Global Clinical Decision Support Market Share
The primary drivers fueling the growth of the cloud-based market segment are the rising cost of healthcare and the growing adoption of cloud computing. Governments across the European Union are launching programs to encourage the use of information technology in healthcare.
For instance, the UK government started a project in February 2021 to adopt a completely linked, cloud-driven healthcare system. As part of this program, more than two million National Health Service (NHS) mailboxes were transferred to Microsoft's Azure Cloud. This is likely to facilitate easier and more effective communication among staff members working for various NHS organizations and departments, as well as increase access to information. The market is further anticipated to grow as a result of the increased use of healthcare information technology (HCIT) and change management services in the UK.
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Competitive Landscape of the Global Clinical Decision Support Market
The landscape for the global clinical decision support industry is competitive, with key players such as Athenahealth, Oracle, Siemens, General Electric Company, Change Healthcare, and many more. These players engage in product releases, developments, acquisitions, and collaborations to surpass one another in the marketplace. For instance, DHIndia announced a collaboration with EHRC at IIITB and Healthelife to create a CDSS for the screening of COVID-19 in May 2020. In addition, a basic triage application for front-line physicians was created as part of the agreement.
- Athenahealth
- Oracle
- Siemens
- General Electric Company
- Change Healthcare
- Wolters Kluwer N.V
- McKesson Corporation
- IBM Corporation
- Allscripts Healthcare
- LLC
- NextGen Healthcare Inc
- Koninklijke Philips N.V. (Royal Philips)
- Agfa-Gevaert Group
North America to Capture over 45% of the Clinical Decision Support Market
With nearly 45% of the global market's revenue in 2021, North America has dominated the clinical decision support (CDS) market due to the rising demand for healthcare IT solutions. This dominance can be attributed to the growing need in the medical industry for healthcare IT solutions. The expansion of the market in this region is also being fueled by quick technology development and the rising relevance of offering high-quality healthcare services.
For instance, in April 2021, Change Healthcare released InterQual, the most recent iteration of its clinical decision support system. It features four new Medicare criteria modules as well as numerous changes and additions to its evidence-based content, including new recommendations for treating COVID-19 patients, addressing social determinants of health, and effectively leveraging telemedicine.
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Key Points from TOC:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. COVID-19 Impact On Clinical Decision Support (CDS) Market
Chapter 5. Global Clinical Decision Support (CDS) Market Overview, By Product, 2017 - 2030 (USD Million)
Chapter 6. Global Clinical Decision Support (CDS) Market Overview, By Application, 2017 - 2030 (USD Million)
Chapter 7. Global Clinical Decision Support (CDS) Market Overview, By Component, 2017 - 2030 (USD Million)
Chapter 8. Global Clinical Decision Support (CDS) Market Overview, By Delivery Mode, 2017 - 2030 (USD Million)
Chapter 9. Global Clinical Decision Support (CDS) Market Overview, By End-User, 2017 - 2030 (USD Million)
Chapter 10. Global Clinical Decision Support (CDS) Market Overview, By Geography, 2017 - 2030 (USD Million)
………Continued
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