Clinical Decision Support System Market worth $558 Million by 2018 - New Report by MarketsandMarkets

A major factor that is propelling the growth of CDSS market is the increasing demand for analytical IT solutions that help in making accurate decisions at the point-of-care, which in turn helps to reduce costs and improve the quality of care. http://www.marketsandmarkets.com/Market-Reports/clinical-decision-support-systems-market-18085342.html

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Cerner Corporation (U.S.), Epic (U.S.), GE Healthcare (U.K.), McKesson Corporation (U.S.), MEDITECH (U.S.), NextGen Healthcare Information System LLC (U.S.), Novarad Corporation (U.S.), Philips Healthcare (Netherlands), Siemens Healthcare (Germany)

(PRWEB) June 14, 2014

The “Clinical Decision Support System (CDSS) Market by Product - Integrated (EHR, CPOE)], Model (Knowledge-based), Applications (Drug Allergy Alerts, Drug Interactions), Delivery Mode (Web-based, Cloud-based), (Hardware, Software) - Global Forecast to 2018” provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the global CDSS market along with the estimates and forecasts of the revenue and share analysis.

Browse 78 market data tables and 28 figures spread through 242 pages and in-depth TOC.

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The global CDSS market crossed $350 million in 2013 and is poised to grow at a high single-digit CAGR from 2013 to 2018.

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A significant growth in healthcare costs is a major challenge faced by developed countries. Additionally, the growth in aging population and increasing incidences of chronic disorders will further increase the burden on the healthcare systems. This scenario demands a paradigm shift in healthcare systems, from paper-based models to electronic models, in an effort to cut healthcare costs and enhance quality care. The demand for clinical IT solutions for healthcare providers is increasing, with the growing requirement to electronically enter patient information. To meet this growing need, healthcare systems are looking forward to integrate their EHR solutions with CDSS and CPOE and knowledge-based CDSS solutions, which help in making accurate decisions at the point-of-care.

Knowledge-based CDSS has the capability to translate scientific knowledge into computer interpretable decision algorithms. This improves the management of diseases by selecting the appropriate dosage at the right time and also suggests significant recommendations while monitoring the drug therapy.

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The market is segmented based on products, models, applications, delivery modes, components, and provider entity capacity. Based on products, the CDSS market is further segmented into integrated and standalone CDSS solutions. Of all the integrated solutions (EHR-CDSS, EHR-CDSS-CPOE, and CDSS-CPOE), EHR-CDSS-CPOE will be the fastest-growing market in the next five years. Factors accelerating the growth of this market are the presence of government initiatives to promote clinical IT solutions such as EHR, CDSS, and CPOE; growing pressure to curtail healthcare costs; and rising demand for quality care. Integrated CDSS solutions also help in reducing the incidences of medication errors and facilitate the easier integration of clinical data repositories with workflow systems.

The three most important delivery modes considered for the study are web-based, on-premises, and cloud computing. Owing to the growing need to meet the requirement of enhanced security and accessibility, the cloud computing mode of delivery is expected to grow at a brisk pace in the forecast period (2013–2018). Furthermore, cloud computing also reduces the burden on healthcare systems, as the need for an IT staff is eliminated.

Globally, the CDSS market will be driven by the growing pressure to reduce healthcare costs, growing patient consumerism for quality care, rising demand for analytical solutions, and government initiatives that promote the adoption of CDSS. The major bottlenecks for this market are the growing concerns over security, interoperability, integration challenges, costs incurred while integrating, problems in implementing CDSS solutions, alert fatigue, incomplete or poor quality of data entry, poor IT skills among staff, and poor financial support from governments in certain countries in Europe and Asia. Cloud computing models offer huge growth opportunities for CDSS vendors, globally. Also, large sized hospitals (>300 bed size) will be potential growth segments for CDSS companies in the coming years.

The key players in this market are Agfa Healthcare (Belgium), athenahealth, Inc. (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Carestream Health, Inc. (U.S.), Cerner Corporation (U.S.), Epic (U.S.), GE Healthcare (U.K.), McKesson Corporation (U.S.), MEDITECH (U.S.), NextGen Healthcare Information System LLC (U.S.), Novarad Corporation (U.S.), Philips Healthcare (Netherlands), Siemens Healthcare (Germany), Wolters Kluwer (U.S.), and Zynx Health (U.S.); in 2013, MEDITECH led the market in terms of cumulative installations.

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