Clinical Decision and Support System Market Growth Opportunities, Industry Analy

Posted by rushi007 on May 28th, 2019

Clinical Decision Support System (CDSS) is healthcare IT solution that provides evidence-based information to provide optimum care to patient. Clinical decision support system assist healthcare providers, by analyzing of patient data and using that information to aid in diagnosis of specific disease and treatment plan for same. Information input offered by CDSS to clinicians and primary care providers helps to improve the quality of the care by reducing drug overdose, drug interaction, adverse events, and assisting in diagnosis.

Market Dynamics

Major driver for growth of the clinical decision support system market is various benefits offered by the CDSS in both inpatient settings, ambulatory settings, and clinics. Medical error is one of the significant contributor to cause of death worldwide. According to data published by Centre for Disease Control and Prevention (CDC), 2013, more than 150,000 deaths are reported annually in the U.S. due to medical error (ADR, wrong diagnosis, prescription error)

According to World Health Organization (WHO) report, in 2017, medication error costs US$ 42 billion annually worldwide. An estimated 43 million patient safety incidence occur annually and around 1 in 10 patient get harmed due to medication error while receiving healthcare. These incidence of medication error could be addressed with use of CDSS. Increasing prevalence of chronic disease is another driver for wide adoption of CDSS. According to WHO Factsheet, around 73% of global deaths are expected to be from chronic disease by 2020.

Various benefits provided by the CDSS to drive growth of the clinical decision support system market

According to report by Healthcare Information and Management Systems Society in 2011, Clinical decision support system has been proved to be helpful in reducing number of days at hospitals, reduction in hospital readmissions, preventing the incidence of medical error, and adverse events due to clinical decision. Advantages offered by clinical decision support system are expected to increase its adoption among end users, which in turn is driving growth for the clinical decision support system market.

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Increasing chronic disease prevalence worldwide to propel growth of the clinical decision support system market

Increasing prevalence of the chronic disease such as cancer, diabetes, and cardiovascular disease worldwide is propelling demand for its accurate diagnosis, treatment plan, and continuous care. According to the data published by American Heart Association, in 2016, annual cost of cardiovascular disease and stroke in 2011 – 2012 was US$ 193.1 billion in medical care and about US$ 123 billion in lost productivity from premature death. This cost can be reduced by adopting clinical decision support system, which could prevent and control major risk factors for CVD such as hypertension, hypercholesterolemia, and diabetes.

Key players operating in the clinical decision support system market include Cerner Corporation, Allscripts Healthcare Solutions, Inc., IBM Watson Health, GE Healthcare, Change Healthcare, Zynx Health, Carestream Health Inc., First Databank, Inc., NextGen Healthcare Information Systems, Agfa Healthcare, Medical Information Technology Inc., Athena Health, Wolters Kluwer NU, Siemens Healthineers, and Philips Healthcare.

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Joined: February 13th, 2019
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