Clinical Decision Support Systems Market Growth & Trends
The global clinical decision support systems market size is anticipated to reach USD 10.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 10.6% from 2023 to 2030. Surging demand for quality care is one of the primary factors augmenting the market. Constant lookout for reliable technology solutions by care providers is also expected to work in favor of the market. The growing interest in enhanced medical care and efficient decision-making is projected to fuel the adoption of clinical decision support systems (CDSS) and EHR.
To manage the COVID-19 pandemic, many initiatives are being undertaken by government and community organizations to support the current healthcare system. These comprise front-line clinics by state governments, volunteer panels of doctors, and many private telemedicine applications. CDSS is playing a vital role during the pandemic, by helping physicians make effective choices at the point of care. As a result, market players are capitalizing on this opportunity to address the problem and provide support to front-line doctors.
For instance, in May 2021, DHIndia announced a collaboration with EHRC@IIITB & Healthelife to develop CDSS for COVID-19 screening. This collaboration also included the formation of a minimal triage application for front-line clinicians.
Decision support in critical health situations proves to be significant. Furthermore, these systems analyze patient medical records and provide a list of possible solutions from which the most appropriate is to be selected. Easy compatibility and interoperability of systems with different platforms have enhanced the growth prospects of the market. Collaborative efforts of researchers and software developers to make medical knowledge available to users are anticipated to contribute to lucrative revenue generation during the forecast period.
CDSS is currently being used in a variety of healthcare operations, including diagnosis, drug prescription, and clinical studies. According to the NCBI in 2020, clinical and diagnostic coding, procedure and test ordering, and patient triage are all supported by CDSS. Developed algorithms can provide a refined list of diagnostic codes to help clinicians choose the most appropriate one. A CDSS was created to overcome the inaccuracy of ICD-9 admission coding in emergency departments (EDs) (ICD is the International Statistical Classification of Diseases, standardized codes used to represent diseases and diagnoses).
CDSS helps ED physicians to identify diagnostic admission codes more quickly. Furthermore, the significance of CDSS has been recognized across several healthcare entities, including public & private healthcare sectors. Also, healthcare organizations are launching programs to promote EHR & CDSS installation and integration, which is projected to have a favorable impact on the market by encouraging hospitals and healthcare groups to use such systems.
Request a free sample copy or view report summary:
Clinical Decision Support Systems Market Report
Report Attribute Details
Market size value in 2023 — USD 5.3 billion
Revenue forecast in 2030 — USD 10.7 billion
Growth rate — CAGR of 10.6% from 2023 to 2030
Base year for estimation — 2022
Actual estimates/Historical data — 2017–2021
Forecast period — 2023–2030
Clinical Decision Support Systems Market Report Highlights
- Standalone CDSS accounted for the largest share of market revenue in 2022 owing to its low cost. The segment is estimated to hold approximately 30.0% of the overall market by 2030
- The CDSS integrated with EHR segment is poised to experience noteworthy growth in the coming years due to the rapid adoption of healthcare IT solutions by clinicians
- Drug allergy alerts made the highest contribution to market revenue generation in 2022 owing to the rising burden of allergies
- In terms of revenue, the on-premises segment dominated the overall industry with a share of over 43.0% in 2022, owing to its high adoption rate by healthcare organizations
- CDSS software segment is poised for lucrative growth during the forecast period owing to novel innovations for technical support and interoperability of the CDSS software
- Domicile of a large number of key players and high adoption rate of advanced technologies are anticipated to contribute to the dominance of the North American region in the coming years. However, Asia Pacific is estimated to witness the highest CAGR of 13.5% during the forecast period
- Market players are involved in strategic initiatives such as new product launches, product innovations, acquisitions, and partnerships to gain a competitive edge over each other
- For instance, in October 2021, DreaMed Diabetes AI Ltd. proclaimed that it had received FDA Clearance for its Type 2 Diabetes AI-based CDSS, thereby enhancing its offerings
Question: What's the magnitude of the clinical decision support systems market? Answer: The clinical decision support systems market was quantified at approximately USD 4.9 billion in 2022 and is predicted to ascend to around USD 5.3 billion in 2023. Question: How is the clinical decision support systems market set to evolve? Answer: The global clinical decision support systems market is on track for evolution with a compound annual growth rate of 10.6% from 2023 to 2030. This trajectory aims to position the market's value at USD 10.7 billion by 2030.
