The Advanced Clinical Decision Support Platforms market was valued at $496.4 million in 2021 and is estimated to reach $1,175.0 million by 2031, exhibiting a CAGR of 9.0% from 2022 to 2031. Advanced clinical decision support platforms or computerized clinical decision support systems (CDSS) represent a paradigm shift in healthcare sector. CDSS are used to augment clinicians in their complex decision-making processes. It is a type of system that offers health information technology to doctors, staff, patients, and other individuals with knowledge and person-specific information that are intelligently filtered or provided at the right moment to enhance health and health care. Clinical decision support systems are core component of electronic health records. These tools can alert the physician about potential errors, remind them to provide preventive care, help them to make diagnosis, and assist with treatment.
The growth of advanced clinical decision support platforms market is driven by technological advancement in the development of different clinical decision support systems and increase in number of various strategies adopted such as product launch and product approval by the key market players. In addition, rise in government initiatives for promoting digital healthcare boosts the market growth. Governments across the world are increasingly taking steps to promote digital health and the use of advanced clinical decision support systems. Thus, this factor is attributed to drive the demand for advanced clinical decision support systems and fuel the growth of market.
Moreover, there is rise in the prevalence of chronic diseases such as diabetes, cancer, and cardiovascular diseases, which drives the demand for advanced clinical decision support systems, as these systems help healthcare professionals to provide better care for such conditions. Clinical decision support systems (CDSSs) can help clinicians to assess cardiovascular disease (CVD) risk & manage CVD risk factors by providing tailored assessments and treatment recommendations based on individual patient data. As Cardiovascular disease is the term for all types of diseases that affect the heart or blood vessels, including coronary heart disease, which can cause heart attacks, stroke, congenital heart defects, therefore, clinical decision support system can also be useful in treatment of coronary heart disease.
Thus, rise in prevalence of coronary heart disease fosters the demand for advanced clinical decision support system by physicians and fuels the growth of market. For instance, according to report shared by Center for Disease Control and Prevention (CDC), it was reported that, coronary heart disease is the most common type of heart disease, killing 382,820 people in the U.S. in 2020. Moreover, in 2020, about 2 in 10 deaths from coronary artery disease (CAD) were in adults less than 65 years old.
Clinical decision support systems are often integrated into telemedicine clinical practice. Thus, rise in usage of telemedicine platform by physician contributes to the growth of market. For instance, according to Centers for Disease Control and Prevention (CDC) in December 2022, it was reported that, from 2019 to 2021, the use of telemedicine technology increased for office-based physicians from 15.4% to 85.9%. In both 2019 and 2021, the use of telemedicine technology was higher among primary care physicians and medical specialty physicians On the other hand, high cost of electronic health record systems and cyber security issues associated with advanced clinical decision support platforms are some factors that are anticipated to restrain the growth of the advanced clinical decision support platforms market.
The advanced clinical decision support platforms market is segmented into type, model, setting, and region. By type, the market is bifurcated into therapeutic and diagnostic. The diagnostic segment is further bifurcated into hospitals and ambulatory care. Therapeutic segment is further subdivided into hospitals and ambulatory care. By model, the market is divided into knowledge based and non-knowledge based. By setting, the market is classified into hospital and ambulatory care.
Region-wise; the market is analyzed across North America (U.S., Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, and rest of Asia Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA). Some of the major companies that operate in the global advanced clinical decision support platforms market include Siemens Healthineers, Wolters Kluwer, Zynx Health, Oracle Corporation, IBM Watson Health, NextGen Healthcare Inc., Veradigm Inc., Meditech, Epic Systems Corporation, and Elsevier B.V.
The growth of advanced clinical decision support platforms market is driven by technological advancement in the development of different clinical decision support systems and increase in number of various strategies adopted such as product launch and product approval by the key market players. In addition, rise in government initiatives for promoting digital healthcare boosts the market growth. Governments across the world are increasingly taking steps to promote digital health and the use of advanced clinical decision support systems. Thus, this factor is attributed to drive the demand for advanced clinical decision support systems and fuel the growth of market.
Moreover, there is rise in the prevalence of chronic diseases such as diabetes, cancer, and cardiovascular diseases, which drives the demand for advanced clinical decision support systems, as these systems help healthcare professionals to provide better care for such conditions. Clinical decision support systems (CDSSs) can help clinicians to assess cardiovascular disease (CVD) risk & manage CVD risk factors by providing tailored assessments and treatment recommendations based on individual patient data. As Cardiovascular disease is the term for all types of diseases that affect the heart or blood vessels, including coronary heart disease, which can cause heart attacks, stroke, congenital heart defects, therefore, clinical decision support system can also be useful in treatment of coronary heart disease.
Thus, rise in prevalence of coronary heart disease fosters the demand for advanced clinical decision support system by physicians and fuels the growth of market. For instance, according to report shared by Center for Disease Control and Prevention (CDC), it was reported that, coronary heart disease is the most common type of heart disease, killing 382,820 people in the U.S. in 2020. Moreover, in 2020, about 2 in 10 deaths from coronary artery disease (CAD) were in adults less than 65 years old.
Clinical decision support systems are often integrated into telemedicine clinical practice. Thus, rise in usage of telemedicine platform by physician contributes to the growth of market. For instance, according to Centers for Disease Control and Prevention (CDC) in December 2022, it was reported that, from 2019 to 2021, the use of telemedicine technology increased for office-based physicians from 15.4% to 85.9%. In both 2019 and 2021, the use of telemedicine technology was higher among primary care physicians and medical specialty physicians On the other hand, high cost of electronic health record systems and cyber security issues associated with advanced clinical decision support platforms are some factors that are anticipated to restrain the growth of the advanced clinical decision support platforms market.
The advanced clinical decision support platforms market is segmented into type, model, setting, and region. By type, the market is bifurcated into therapeutic and diagnostic. The diagnostic segment is further bifurcated into hospitals and ambulatory care. Therapeutic segment is further subdivided into hospitals and ambulatory care. By model, the market is divided into knowledge based and non-knowledge based. By setting, the market is classified into hospital and ambulatory care.
Region-wise; the market is analyzed across North America (U.S., Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, and rest of Asia Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA). Some of the major companies that operate in the global advanced clinical decision support platforms market include Siemens Healthineers, Wolters Kluwer, Zynx Health, Oracle Corporation, IBM Watson Health, NextGen Healthcare Inc., Veradigm Inc., Meditech, Epic Systems Corporation, and Elsevier B.V.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the advanced clinical decision support platforms market analysis from 2021 to 2031 to identify the prevailing advanced clinical decision support platforms market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the advanced clinical decision support platforms market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global advanced clinical decision support platforms market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Model
- Knowledge based
- Non Knowledge based
By Setting
- Ambulatory care
- Hospitals
By Type
- Therapeutic
- Setting
- Hospitals
- Ambulatory care
- Diagnostic
- Setting
- Hospitals
- Ambulatory care
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Oracle Corporation
- Wolters Kluwer
- Meditech
- IBM Watson Health
- Veradigm Inc.
- Epic Systems Corporation
- NextGen Healthcare Inc.
- Zynx health
- Siemens Healthineers
- Relx Group
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ADVANCED CLINICAL DECISION SUPPORT PLATFORMS MARKET, BY TYPE
CHAPTER 5: ADVANCED CLINICAL DECISION SUPPORT PLATFORMS MARKET, BY MODEL
CHAPTER 6: ADVANCED CLINICAL DECISION SUPPORT PLATFORMS MARKET, BY SETTING
CHAPTER 7: ADVANCED CLINICAL DECISION SUPPORT PLATFORMS MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Advanced Clinical Decision Support Platforms Market," the advanced clinical decision support platforms market was valued at $496.44 million in 2021, and is estimated to reach $1,175.0 million by 2031, growing at a CAGR of 9.0% from 2022 to 2031. Advanced clinical decision support platforms are computerized systems that are designed to help healthcare professionals make better decisions about patient care. These platforms provide access to evidence-based medical knowledge and interactive tools to help in the assessment of a patient’s medical condition. The systems may also include decision support tools that help healthcare professionals make more informed decisions about care, such as drug dosing guidelines, drug-drug interaction warnings, and disease management protocols. These systems can be used to aid in diagnosis, treatment, and follow-up care.Key factors driving the growth of the advanced clinical decision support platforms market include increase in incidence of medical error, rise in the application of electronic health record, and advancement in R & D activities in medical sector. Increase in incidence of medical error is anticipated to drive the demand for advanced clinical decision support platform by professionals to get accurate information for diagnostic and therapeutic purposes. Thus, rising incidents of medical error is anticipated to boost the market growth. Medical errors are any preventable events that may cause or lead to inappropriate medical care or harm to a patient. Examples of medical errors include wrong diagnoses, improper or delayed treatment, or preventable adverse events. Clinical decision support systems (CDSS) are computer-based systems that help clinicians make decisions about patient care. CDSS can help to reduce medical errors by providing healthcare professionals with relevant and timely evidence-based information. Moreover, rise in the adoption of electronic health record system is anticipated to drive the growth of market. As advanced clinical decision support platform is a component of an electronic health record (EHR) system, thus, rise in application of EHR system in hospitals boosts the growth of market. In an EHR system, CDSS provides evidence-based recommendations and alerts to clinicians to help them make informed decisions about patient care. CDSS can help to reduce the risk of medical errors by providing timely, evidence-based information to clinicians. In addition, CDSS can help clinicians identify potential diagnosis or treatment options for a patient based on the patient's medical history and current symptoms.
The market also offers growth opportunities to the key players in the market. Increase in number of key players to manufacture advanced clinical decision support platforms systems provide lucrative opportunities for growth and expansion of the market. For instance, VisualDx, a clinical decision support system (CDSS) software company, provides award-winning diagnostic clinical decision support system named as VisualDx, which is designed to enhance diagnostic accuracy, aid therapeutic decisions, and improve patient safety. Moreover, in February 2023, Elsevier, a global leader in evidence-based clinical practice content, research publishing and information analytics, announced that their evidence-based oncology pathways solution, ClinicalPath, has been approved by the Centers for Medicare & Medicaid Services (CMS) as a clinical guideline for oncology practices participating in the new Enhanced Oncology Model (EOM).
The Advanced clinical decision support platforms Market is segmented into Type, Model, Setting, and Region. On the basis of Type, the market is categorized into therapeutic and diagnostic. The diagnostic segment is further bifurcated into hospitals and ambulatory care. Therapeutic segment is further subdivided into hospitals and ambulatory care. On the basis of model, the market is divided into knowledge based and non-knowledge based. By setting the market is categorized into hospital and ambulatory care. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
The key players profiled in the study include Siemens Healthineers, Wolters Kluwer, Zynx Health, Oracle Corporation, IBM Watson Health, NextGen Healthcare Inc., Veradigm Inc., Meditech, Epic Systems Corporation, and Elsevier B.V.. The players in the market have been actively engaged in the adoption various strategies such as acquisition, and product launch to remain competitive and gain advantage over the competitors in the market. For instance, in October 2022, Epic, a developer of healthcare software, is getting ready to pilot Best Care. It possess the advantage of Cosmos to offer clinical decision support at the point of care by the use of real-world data.
Key Market Insights
- By type, the therapeutic segment was the highest revenue contributor and is estimated to be the fastest-growing segment with a CAGR of 9.4% during the forecast period.
- By model, the knowledge based segment was the highest revenue contributor and is estimated to be the fastest-growing segment with a CAGR of 9.1% during the forecast period.
- Based on setting, the hospitals segment was the highest revenue contributor to the market with a CAGR of 9.1% during the forecast period.
- Based on region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR of 10.2% during the forecast period
Companies Mentioned
- Oracle Corporation
- Wolters Kluwer
- Meditech
- IBM Watson Health
- Veradigm Inc.
- Epic Systems Corporation
- NextGen Healthcare Inc.
- Zynx health
- Siemens Healthineers
- Relx Group
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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