Surge In Information System Adoption: A Key Driver Transforming the Clinical Decision Support Systems Market 2024

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What Is the Anticipated Growth Rate and Market Size of the Global Clinical Decision Support Systems Market?

The clinical decision support systems market has seen exceptional growth over recent years. Market size will grow from $2.81 billion in 2023 to $3.14 billion in 2024, resulting in a compound annual growth rate CAGR of 12.0%. Increased healthcare data, advancements in medical knowledge, patient safety concerns, healthcare cost pressures, and demand for evidence-based medicine have all cemented this unprecedented historic growth.

The clinical decision support systems market size is further anticipated to explode over the next few years, growing to $5.07 billion in 2028 at a compound annual growth rate CAGR of 12.7%. This forecasted growth can be seen as a result of precision medicine initiatives, value-based care models, real-time decision support, population health management, interoperability initiatives, and cybersecurity concerns.

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What Is The Primary Growth Driver Of The Clinical Decision Support Systems Market?

The significant rise in the adoption of information systems by hospitals catalyses the clinical decision support systems market growth. Information systems, consisting of software and hardware, collect, store, and process data. These systems, being increasingly adopted by healthcare facilities, promote smooth functioning and seamless clinical data flow. A prime example of this driver in action is seen in the International Data Corporation's IDC 2021 report. This U.S.-based advisory services company noted that healthcare IT spending in Asia is expected to reach USD 14.9 billion by 2022. As such, the increasing adoption of information systems by hospitals continues to stimulate clinical decision support systems market growth.

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Who Are The Key Industry Players Influencing The Clinical Decision Support Systems Market?

The clinical decision support systems market is driven by major companies such as McKesson Corporation, Siemens Healthineers AG, Koninklijke Philips N.V., GE Healthcare, Hera-MI LLC, Cerner Corporation, and Epic Systems Corporation. Other significant players include Elsevier B.V., Change Healthcare Corporation, Allscripts Healthcare Solutions Inc., Athenahealth Inc., Wolters Kluwer Health, Premier Inc., and eClinicalWorks Inc.

What Are The Emerging Trends Influencing The Clinical Decision Support Systems Market?

Technological advancements are the major trends outlining the clinical decision support systems landscape. Major companies in the market are working hard to develop innovative technological solutions to strengthen their market position. For instance, Change Healthcare, a U.S.-based healthcare technology company, launched a clinical decision support solution, InterQual, in April 2022. This solution offers evidence-based care, interactive and restructured criteria to streamline workflows, and AI-driven proactive insights, to predict the patients' need for observation or specific durations of stay.

How Is The Global Clinical Decision Support Systems Market Segmented?

The clinical decision support systems market report segments the market as follows –

1 By Component: Services, Software, Hardware

2 By Model: Knowledge-Based CDSS, Non-Knowledge CDSS

3 By Delivery Mode: On Premise, Cloud Based

4 By Application: Medical Diagnosis, Alerts And Reminders, Prescription Decision Support, Information Retrieval, Other Applications

5 By End-User: Clinics, Hospitals, Ambulatory Surgical Centers, Others End Users

Which Regions Are Pioneering The Clinical Decision Support Systems Market?

In 2023, North America was the largest region in the clinical decision support systems market, while Asia-Pacific is forecasted to be the fastest-growing region over the forecast period. The clinical decision support systems market report covers the following regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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