A recent market intelligence report that is published by Data Insights Partner on the global Clinical Decision Support System Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Clinical Decision Support System Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Clinical Decision Support System Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Clinical Decision Support System Market is offered. In accordance with the report, the global Clinical Decision Support System Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:
Clinical Decision Support System is a system of health-based information technology. It is designed to provide assistance in health-related decision-making tasks by physicians, and healthcare staffs, officials and professionals. Robert Hayward of Centre for Health Evidence defines clinical decision support system as “Clinical decision support systems link health observations with health knowledge to influence health choices by clinicians for improved health care”. A significant segment of artificial intelligence in medicine is clinical decision support systems.
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The rising cases of medication error and the drive to lower such cases owing to its negative impact on the patients is driving the growth of this market. Some common preventable errors include mistakes in administration, preparation, storage, transportation and prescription of medicines. The necessity to keep track of patient’s health history for better treatment, error emission, timeliness, reduction in the patient’s waiting hours and to obtain quality care is driving the widespread application of CDSS and its market.
The supportive measures undertaken by the governments of various nations is powering the growth of this market. The Food and Drug Administration keeps strict vigilance on the implementation and various aspects of clinical decision support system. For example, the announcement of market clearance for the contact application of Viz.AL by FDA in 2018. These factors positively affect this market.
The rapid advancement in Bioinformatics and biotechnology and its application in medical science is boosting the growth of this market. further, the association of a range of interoperability platforms with cloud computing is fueling the growth of this market.
The soaring proportion of aging population and their sufferance from geriatric diseases coupled with the trending emergency visits especially in the pandemic times is fueling the growth of the clinical decision support system market.
The establishment of clinical decision support system in the healthcare sector is a costly affair which is a bottleneck for the growth of this market.
The unwillingness attitude towards the adoption of mobile clinical decision support system is hindering the growth of this market.
The lack of security and privacy of sensitive health related date is threatening the growth of this market. A study of the cybersecurity investigation company, Ermetic shows that 81% of the total healthcare organizations have witnessed security breaches in cloud data within 18 months accounted till June 2020. Rising cases of cybercrime and hackings is retarding the growth of this market.
The thriving healthcare sector coupled with the increasing implementation of information technology in this sector is a great scope to kickstart operation in this market.
Further, the policies aimed towards digitalization especially in the emerging economies like India and China is a great opportunity for this market.
The surging number of health-conscious consumers and their craze for better treatment and quality care equivalent to the expenditure on health incurred by them is a bankable opportunity to this market.
At present, North America dominates the CDSS market and is expected to hang on to its domination in the forecast period owing to the integration of information technology and healthcare facilities in this region. The Europe region is estimated to be the second largest region holding significant market growth of around 8.0% in the forecast period. The Asia Pacific region is projected to be the fastest growing region registering a CAGR of around 12.9%. This progress can be traced back to the policies aimed at the achievement of digitalization, the favorable policies and the government’s support towards the development of clinical decision support system market and the soaring health-conscious population.
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This market intelligence report on the global Clinical Decision Support System Market encompasses market segments based on product type, delivery mode, model, component, application, level of interactivity, settings, type, and country.
By Product Type the global Clinical Decision Support System Market has been divided into:
q Integrated CDSS
q Standalone CDSS
By Delivery Mode the global Clinical Decision Support System Market has been divided into:
q On Premise
By Model the global Clinical Decision Support System Market has been divided into:
q Non-Knowledge based
By Component the global Clinical Decision Support System Market has been divided into:
By Application the global Clinical Decision Support System Market has been divided into:
q Conventional CDSS
q Advanced CDSS
By Level of Interactivity the global Clinical Decision Support System Market has been divided into:
q Passive CDSS
q Active CDSS
By Settings the global Clinical Decision Support System Market has been divided into:
q Ambulatory Care Settings
q In Patient
By Type the global Clinical Decision Support System Market has been divided into:
By country/region, the global Clinical Decision Support System Market has been divided into:
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
q Allscripts Healthcare Solutions
q Siemens Healthineers
q Zynx Health
q NextGen Healthcare
q IBM Watson Health
q Change Healthcare
q Koninklijke Philips N.V.
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Clinical Decision Support System Market related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Few Recent Developments
In October 2017, Siemens Healtineers acquired Medicalis Corporation. The acquisition was aimed at expanding the tools provided to healthcare systems and hospitals to assists health initiatives of the population and provide value-based care.
In August 2017, Allscripts announced the acquisition of the Enterprise Information Solutions, Health System IT Business and hospitals of McKesson Corporation for USD 185 million through a cash transaction.
Ø This study offers comprehensive yet detailed analysis of the Clinical Decision Support System Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Clinical Decision Support System Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Clinical Decision Support System caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Clinical Decision Support System Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
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v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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