Clinical Decision Support Systems Market Size to Hit $6.68 Billion, Globally, by 2028 with 10.4% CAGR – Exclusive Study by The Insight Partners

New York, Feb. 27, 2023 (GLOBE NEWSWIRE) — According to The Insight Partners, “Clinical Decision Support Systems Market Size, Share, Growth, Trends, Technology and Global Forecast to 2028 – COVID-19 Impact and Global Analysis by Component (Software, Services, and Hardware), Delivery Mode (On-Premise, Cloud-Based, and Web-Based), Application (Drug-Drug Interactions, Drug Allergy Alerts, Clinical Reminders, Clinical Guidelines, and Others), and End User (Hospitals, Ambulatory Care Centers, and Diagnostic Labs)”, the global clinical decision support systems market size to grow at a CAGR of 10.4% from 2022 to 2028, it is expected to grow from USD 3.70 billion in 2022 to USD 6.68 billion by 2028.

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Global Clinical Decision Support Systems Market – Report Scope:

Global Clinical Decision Support Systems Market: Competitive Landscape and Key Developments

Cerner Corporation; Medical Information Technology, Inc.; BD; Wolters Kluwer N.V.; Baxter International Inc.; Premier; Koninklijke Philips N.V.; RELX (Elsevier); PeraHealth; and Epic Systems Corporation are key companies operating in the global clinical decision support systems market. Leading players are focusing on expanding and diversifying their market presence and clientele, thereby tapping prevailing business opportunities.

In April 2021, Change Healthcare announced the launch of a new product—”InterQual” standing as the newest version of the corporation’s flagship solution. The new product features four innovative medicare criteria elements along with a substantial amount of evidence-based content updates and enhancements, comprising new guidance intended for COVID-19 patients, addressing problems related to health, and suitable for use in telehealth.

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Global Clinical Decision Support Systems Market – Regional Insights:

North America accounts the largest share of the clinical decision support systems market, with the US being the major contributor to the regional market growth. Regulatory mandates favoring the implementation of CDSS and the presence of top competitive players in the region are the most influencing factors for the North American market to grow exponentially during the analysis period. The Office of the National Coordinator for Health IT (ONC) supports efforts to develop, adopt, implement, and evaluate the use of CDSS for improving health and decision-making. The main aim of ONC is to create a technical infrastructure that would allow health systems to share data electronically and offer complete information to the CDSS. The records help CDSS diagnose and track negative drug interactions. Further, innovative product launches by top players are further catalyzing the overall market growth. In December 2021, Change Healthcare announced the launch of “InterQual” in partnership with the American Society of Addiction Medicine (ASAM) to seamlessly integrate with the existing care management workflows to significantly reduce the time required for substance use disorder (SUD) patient assessment, increase consistency, and streamline the prior authorization process using industry standard criteria. Thus, the aforementioned factors are likely to propel the market growth during the forecast period.

Mergers, Collaborations, and Product Launches Among Top Players Offer Lucrative Global Clinical Decision Support Systems Market Opportunities:

In July 2020, Cerner Corporation announced a partnership with Holon Solutions to provide accelerated and seamless clinical decision support at the point-of-care (POC). The partnership will bring curated and patient-specific knowledge directly to provider workflow, aiming to improve patient outcomes. Such strategic moves by the top competitive players contribute for the overall market growth of clinical decision support systems.

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Technological Advancements Boosts Overall Global Clinical Decision Support Systems Market Growth during (2022-2028)

Clinical decision support systems are becoming a critical part of the healthcare information technology landscape. For example, artificial intelligence (AI) and machine learning (ML) are transforming CDSS by providing alerts with valuation to intelligence workflows and supportive practices based on relevant patient history. Further, according to the Harvard Business Publishing article in 2022, diagnostic imaging plays a central role in disease management, from prognostic workup, diagnosis, treatment, and monitoring to follow-up. Each step of imaging is conducted to determine effective clinical results, as imaging assists the phenotypic profile of a patient throughout the course of the disease. Therefore, the use of AI solutions in imaging interpretation and reporting process often results in improved workflow efficiencies. For example, cognitive factors contribute to diagnostic errors accounting for 75%; however, with the adoption of AI, the chances of error can be significantly reduced.

Global Clinical Decision Support Systems Market: Segmental Overview

Based on component, the clinical decision support systems market is segmented into software, hardware, and services. The software segment held the largest market share in 2022. Based on delivery mode, the clinical decision support systems market is segregated into as on-premise, cloud-based, and web-based. The on-premise segment held the largest share of the market in 2022. By application, the clinical decision support systems market is segmented into drug–drug interaction, drug allergy alerts, clinical reminders, clinical guidelines, and others. The drug allergy alerts segment held the largest share of the market in 2022. Based on geography, the market is primarily segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.

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With the emergence of new variants of coronavirus resulting in surging cases globally, healthcare professionals found it challenging to understand the profile of each patient and deliver the best treatment. CDSS played a critical role amid the pandemic and positively impacted its market performance due to the surging utility of digital technologies and innovative solutions for tracking infection rate, managing resources for infected people, and vaccine distribution. The influx of CDSS aided clinicians in decision-making at the point of care (POC). Additionally, with the growing need for evidence-based medicine and clinical information with tools such as “UpToDate,” enhanced healthcare was delivered to patients even in remote areas. Further, patients were able to consult doctors online for treatments through the utility of a virtual platform.

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