Advanced Clinical Decision Support Platforms Global Market Report 2023: Growth in Incidence of Medication Error Drives Adoption
Dublin, May 04, 2023 (GLOBE NEWSWIRE) -- The "Advanced Clinical Decision Support Platforms Market by Type, Model, Setting: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
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.
Growth in Incidence of Medication Error
Increase in Application of Electronic Health Record System
Rise in Geriatric Population and Increase in Prevalence of Chronic Diseases
Data Security Concerns Related to Cloud Based CDSS
Increase in the Incidence of Data Breach
Increase in Number of Adoptions of Key Strategies for Development of Market
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
Non Knowledge based
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
Key Market Players
IBM Watson Health
Epic Systems Corporation
NextGen Healthcare Inc.
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
Key Topics Covered:
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
For more information about this report visit https://www.researchandmarkets.com/r/oxj87q
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