“Global CDSS Market is anticipated to grow on account of rising number of chronic diseases, technological advancements in order to reduce medical errors and hospital re-admission rates”, says Visiongain report
05 September 2019
Visiongain has launched a new pharma report Clinical Decision Support Systems (CDSS) Market Report: By Component (Services, Software, Hardware), by Product (Integrated CDSS, Standalone CDSS), by Type (Therapeutic CDSS, Diagnostic CDSS), by Model (Knowledge-Based CDSS Model, Non-Knowledge-Based CDSS Model), by Delivery Model (On-Premise CDSS, Cloud-Based CDSS), by Application (Conventional CDSS, Advanced CDSS), by Level of Interactivity (Active CDSS, Passive CDSS), by Setting (Inpatient Settings, Ambulatory Care Settings).
Global CDSS Market is anticipated to grow on account of rising number of chronic diseases, technological advancements in order to reduce medical errors and hospital re-admission rates. The global CDSS market is anticipated to grow at a lucrative CAGR of 10.3% and anticipated to reach USD 3.63 Billion by 2029.
Clinical Decision Support (CDS) offers understanding and person-specific data, intelligently filtered or submitted at suitable moments to clinicians, employees, patients or other people to improve health and health care. CDS includes a range of instruments for enhancing clinical workflow decision-making. These instruments include computerized reminders and alerts to patients and care providers, clinical guidelines, patient data reports and summaries, templates for paperwork, diagnostic help, and context-specific reference information, among others.
There is extensive concern over the healthcare costs and health risks from inappropriate use of expensive medical imaging. In response, CDSS have been designed to notify health care providers regarding ordered diagnostic scan which is inconsistent with current professional guidelines.
In the year 2014, Medicare spent more than USD 4 billion on high-cost diagnostic imaging, including magnetic resonance imaging and computed tomography scans, out of which around 30% of diagnostic imaging is unnecessary. Medical professionals and payers are worried about the health hazards and health care expenses of using such high-cost scans inappropriately. With health care expenditure accounting for nearly one-fifth of the U.S. economy and an even greater share of the budgets of the government industry, policymakers are interested in lowering health care expenditure that offers patients with minimal value. Reflecting worries about improper scanning, Medicare will no longer be able reimburse suppliers for costly scans starting in January 2020 unless they are ordered using a qualifying CDSS.
North America holds majority of market share owing to driving factors such as regulatory mandates, rising medication errors, growing prevalence of chronic diseases, growing healthcare expenditure among others. Asia Pacific region is expected to experience the highest growth in terms of CAGR over the forecast period owing to growing demand from India, Japan and China. Growing government support in these regions is anticipated to offer lucrative opportunities for CDSS manufacturers. For instance, Chinese government has collaborated with Elsevier and Wolters Kluwer to improve the overall quality of care and help physicians in evidence based decision making
Currently, key players are forming various strategies such as acquisitions, mergers, partnerships, collaborations and launching new products in order to strengthen their position in the global CDSS market. Companies are also expanding their R&D, distribution, and management facilities in order to expand their business and to hold a competitive edge in the market.
The comprehensive market report features companies such as Allscripts Healthcare Solutions, Athenahealth, Inc., Autonomy Corporation plc, Carestream Health, Cerner Corporation, EBSCO Industries, Inc., Elsevier, Epic Systems Corp., Evidera/ Archimedes Inc, FirstDataBank, GE Healthcare, GIDEON Informatics, Inc., Hearst health, IBM, Koninklijke Philips N.V., McKesson Corporation, NextGen Healthcare Information Systems, NXGN Management, LLC, Optum, Inc. (UnitedHealth Group), Philips Healthcare (A Subsidiary of Royal Philips Electronics), Siemens Healthcare Private Limited, The National Decision Support Company, Truven Health Analytics, VisualDx, Wolters Kluwer and Zynx Health among other prominent players.
Also the research study offers market estimation and forecast for the period ranging 2019–2029 for global markets such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific and MEA along with regional sub-markets as U.S., Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Benelux, Russia, Poland, India, Japan, China, Australia, ASEAN, GCC, South Africa and North Africa.
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