Clinical Decision Support System Market (Drug Allergy Alerts, Drug Interactions) Worth $558 Million by 2018 - New Report by MarketsandMarkets
(PRWEB) February 28, 2014 -- The “Clinical Decision Support System (CDSS) Market [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 on “Clinical Decision Support System (CDSS) Market":
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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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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.
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Based on applications, the CDSS market is segmented into drug allergy alerts, drug reminders, drug-drug interactions, clinical guidelines, clinical reminders, drug dosing support, and others. Drug allergy alerts accounted for the largest share of the global CDSS market in 2013. On the other hand, clinical reminders are expected to witness the highest growth at an estimated double-digit CAGR from 2013 to 2018. Various benefits while implementing this system, such as just-in-time alerts, prompt recommendation at the point-of-care, and improvements in quality care at low costs, will spur the market growth.
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.
Geographic analysis reveals that North America was the largest contributor to the global clinical decision support system market in 2013 and will also be the fastest growing region for CDSS till 2018. Factors driving the North American market are the growing demands for integrated CDSS solution with EHR and CPOE, firm support from the U.S. Agency for Healthcare Research and Quality (AHRQ), growth in aging population, growing healthcare cost, and growth in patient consumerism for quality care.
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.
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