Clinical Decision Support Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The clinical decision support systems market was valued at approximately USD 1,686.3 million in 2021, and it is expected to reach USD 2,819.50 million by 2027, registering a CAGR of nearly 9.4% during the forecast period (2022-2027).

Amid the COVID-19 pandemic, the health systems of countries are majorly dependent on online services. Through video calls, patients are getting appointments with doctors, which is helping in treating and monitoring the diseases, thereby propelling the clinical decision support systems market.

According to the World Aging 2019 Report, it was estimated that there were 703 million persons aged 65 years or over in the world in 2019. This group of the population mainly suffers from a lot of chronic diseases and needs regular health checks and treatments for the prevention of diseases. Based on the current situation across the world, there may be a lot of people, such as the elderly population and pregnant women, who may need health checks. However, due to the COVID-19 outbreak across the world, hospitals and clinics are unable to provide services. Several countries are increasingly providing online services, which is boosting the market.

Moreover, the healthcare facilities, such as hospitals, diagnostic centers, and clinics, are showing interest in clinical decision support systems in minimizing medication prescription errors, adverse drug events monitoring, and other medical errors.

The rising demand for reducing healthcare expenditure, the need for improvement in the quality of care, and technological advancements in healthcare IT in hospitals are the major factors that are likely to boost the growth of the clinical decision support systems (CDSS) market.

Furthermore, according to the Organization for Economic Co-operation and Development (OECD) Survey Report, in 2020, the average per capita health expenditure was about USD 6,730.9 in Germany, USD 6,748.4 in Norway, and USD 5,753.6 in Sweden. Due to high healthcare expenditure across the world, the rising demand to reduce healthcare expenditure has a positive impact on the market.

According to the study published in January 2020, named "Development and use of a clinical decision support system for the diagnosis of social anxiety disorder,” the hybrid optimization learning algorithm had the accuracy, sensitivity, and specificity metrics. The results revealed that the proposed model was quite appropriate for SAD diagnosis and in line with the findings of other studies.

However, lack of trust in the systems, as CDSS are in the initial stages of development, lack of skilled labor, and suggestions from CDSS for unnecessary diagnostic testing hinder the market growth.

Scope of the Report

As per the scope of the report, clinical decision support systems (CDSS) refer to healthcare IT systems designed specifically to assist clinical decision support for healthcare professionals and physicians. They include various tools that help enhance decision-making in the clinical workflow. Additionally, they provide computerized alerts and reminders to care providers and patients, clinical guidelines, focused patient data reports and summaries, diagnostic support, and documentation templates, among other tools.

The clinical decision support systems market is segmented by the model (knowledge-based CDSS and non-knowledge CDSS), mode of delivery (cloud-based and on-premise), component (hardware, software, and services), product (integrated CDSS and standalone CDSS), application (medical diagnosis, alerts and reminders, prescription decision support, information retrieval, and other applications), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above segments.

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Key Market Trends

The Cloud-based Segment is Expected to Hold a Major Market Share

The increasing healthcare expenditure and adoption of cloud computing are the major drivers for the expansion of the cloud-based segment of the market. The government in various countries in the European region are taking initiatives to support the growth of information technology in healthcare. For instance, in February 2021, as the UK government launched an initiative to adopt a fully connected cloud-driven health service, over two million National Health Services (NHS) mail mailboxes were moved to Exchange Online, which is a part of Microsoft’s Azure Cloud. This will enable smoother and more efficient communication between staff across NHS organizations and departments and provide improved access to information. This will increase the usage of (Healthcare Information Technology) HCIT Change Management services in the United Kingdom and boost the market's growth.

Furthermore, local knowledge management of clinical decision support systems (CDSS) may require extensive processing power and storage capacity, which can result in high operating costs. In contrast, cloud-based applications are operated in remote servers, and executing them does not require a large amount of computational power or large storage space in the user’s device.

Cloud-based applications do not depend on web browsers, which makes them inherently safer than web-based applications. In a cloud-based clinical decision support system, processing units are hosted on remote servers, which can be located in multiple data centers across the world, making them less vulnerable to cyberattacks. The increasing availability of cloud technology, owing to their benefit, is expected to drive the usage of cloud-based CDSS over the forecast period.

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