Valued at USD 1.2 billion in 2019, the global clinical decision support system (CDSS) market is predicted to reach USD 2.5 billion by 2025, witnessing a CAGR of 13.6% during the forecast period (2020–2025). Increasing adoption of information systems by the healthcare organizations and satisfactory initiatives taken by several government bodies worldwide are accelerating the growth of the global market. Due to government support & initiatives, quality care and precision medicine & usages of big data and mhealth applications, excellent returns on investment, and increasing adoption of cloud computing in healthcare are also driving the growth of the global CDSS market.
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Some of the other key factors driving the growth of the industry are the technological advancements in healthcare IT solutions, mounting importance, and usage of big data and mhealth tools, and escalating partnerships between medical research groups and clinical decision support companies.
Some of the major factors hampering the growth of the clinical decision support system market are the data security issues, disinclination to accept mobile CDSS, huge investment for information technology infrastructure, and lack of interoperability. In addition, the lack of skilled professionals, and the integration of CDSS solutions within healthcare organizations are also having a negative impact on the growth of the market.
Asia-Pacific market is predicted to witness fastest growth in the global clinical decision support system market during the forecast period, as the region comprises a large population base. Furthermore, the increasing number of chronic disease patients, and increasing chance of medication errors are also supporting the growth of the Asia-Pacific clinical decision support system industry.
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In the recent years, numerous clinical decision support system market players have looked at an investing capital to develop technologically advanced systems as an effective strategic move to augment their revenue and get an edge over other companies offering these systems.
The major players in the global clinical decision support system market are Wolters Kluwer Health, Cerner Corporation, Philips Healthcare, IBM Corporation, Hearst Health, Epic Systems Corporation, Allscripts Healthcare Solutions, Inc., Mckesson Corporation, and MEDITECH.
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