Global Clinical Decision Support System Market to Surpass US$ 1.5 Billion by 2026 - Coherent Market Insights

The global clinical decision 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) was valued at US$ 767.4 million in 2017, and is projected to exhibit a CAGR of 11.69% over the forecast period (2018 – 2026).

Clinical decision support is a process for enhancing health-related decisions and actions with structured clinical knowledge and patient information to improve health and healthcare delivery. Various stakeholder in information exchange are physicians, nurses, patients, and others involved in patient care delivery. Clinical support system delivers clinical knowledge, guideline based inputs, and intelligently processed actionable patient data (e.g. Drug interaction events for specific patient in past which would be shown at CDSS handled by physician). Furthermore, it provides data and order entry facilities, reference information, clinical alerts, and others. Increasing incidences of medication errors and hospital readmission due to inadequate health outcome are expected to promote wide adoption of the clinical decision support system. According to World Health Organization (WHO) report, in 2017, medication error cost around US$ 42 billion annually worldwide. An estimated 43 million patient safety incidence occurs annually. According to the Agency for Healthcare Research and Quality’s (AHRQ) Healthcare Cost and Utilization Project in 2011, around 3.3 million adult hospital readmissions were reported within 30-day in the U.S. due to all-causes(e.g. Heart attack, Heart failure, Pneumonia and Chronic obstructive pulmonary disease etc.) and it inculcated cost of around US$ 41.3 billion. Clinical decision support systems is expected to witness significant growth in developed economies such as North America and Europe. Healthcare legislations such as Protecting Access to Medicare Act (PAMA), which was passed in 2014 and took effect from 2017, PAMA pleads for EHR based Incentive Reimbursement Program by applying principle of ‘Meaningful Use’. For instance, under this law, providers of radiology services will be required to offer CDSS to ordering physicians. The law says that the physicians who provide diagnostic interpretation will be paid only for those claims that confirm a certified CDSS was used.

New product launches, collaborations, and acquisitions by key players are expected to drive growth of the clinical decision support system market

Key players are launching innovative products in the endoscopy market in order to maintain leading position in market. These new products could be easily integrated with Electronic Health Record (EHR), Computerized Physician Order Entry (CPOE) system thereby avoiding duplication of work. New systems has cloud-based support system that allows CDSS to get updated continuously for new clinical data, evidence and other information to help in prescription, diagnosis thereby providing quality health care. In 2017, Change Healthcare launched the new version of InterQual clinical decision support system, which consist of Medicare Procedures (U.S. State insurance) with efficient set of criteria, review, and other features that better help decision-making. For instance, this system Centers for Medicare & Medicaid Service’s geometric mean length of stay data that provide target length of stay for Medicare beneficiary. It has more automation and knowledge-based search features and large drug registry.

Browse 31 Market Data Tables and 35 Figures spread through 177 Pages and in-depth TOC on “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)

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Market players are undergoing strategic collaborations and leveraging each other’s strength to offer innovative product. In July 2018, Cerner and Lumeris, announced a 10-year strategic collaborations to provide solutions to eliminate inefficiencies in the current health care system. Through this collaborations two companies would launch product named Maestro Advantage. This new product would provide actionable data and insights with healthcare provider workflows, combining existing investment in digitized data and processes. Maestro Advantage would help physician to effectively assess risk and create interventions and better maximize outcomes for patients In June 2018, Allscripts and MedAware, which is Israeli patient safety solutions announced that both companies are developing medication-related decision support at the point of care. Through this collaborations, Allscripts' dbMotion solution would be having point of care intervention solution of MedAware. This intervention use Artificial Intelligence to monitor a patient's medications and clinical records, which could reduce medication-related risks (adverse drug events or a patient's risk of developing opioid dependency)

Key Takeaways of the Clinical Decision and Support System Market:

• The global clinical decision support system market is expected to exhibit a CAGR of 11.69% over the forecast period, owing to increasing awareness regarding benefits of CDSS, increasing incidence of medical error, hospital readmissions, and adverse drug event
• Among product type, integrated clinical decision support system segment is expected to hold dominant position in the market, as electronic health record and computerized physician order entry are majorly updated for integrating with CDSS to provide better clinical judgment, and provide benefit of synergy. Among component, service segment is expected to dominate the market, as cloud-based services are expected to witness significant growth. Among mode of delivery, cloud-based system segment is expected to dominate the market, owing to increasing adoption of cloud based health IT solutions by healthcare provider
• Among end users, hospitals segment holds dominant position in market, as increasing complex data base with specialized need of care for each patient and vast database generated in the process demands for comprehensive and evidence based input to provide quality care to patients.
• North America is expected to be the dominant region in the clinical decision support system market, followed by Europe. The U.S. invests major amount over healthcare in the world, and it is focused to provide value-based care, which could be attended effectively by implementing CDSS. Value based care involves providers to be paid based on patient health outcomes which means providers are rewarded if patients improve their health, reduce the effects and incidence of chronic disease. CDSS would be important in this value based care ecosystem. Key players are also launching new products into market, which is expected to propel growth of market in the region.
• 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.