Clinical Decision Support Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The clinical decision support systems market was valued at approximately USD 1,450 million in 2020, and it is expected to reach USD 2,490 million by 2026, registering a CAGR of nearly 9.4% during the forecast period, 2021-2026.

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 Ageing 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, but due to the COVID-19 outbreak across the world, the hospitals and clinics are unable to provide services. But 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, 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 2018, the average per capita health expenditure was about USD 7,317 in Switzerland, USD 6,187 in Norway, and USD 5,005 in Australia. Due to high healthcare expenditure across the world, the rising demand to reduce healthcare expenditure has a positive impact on the market.

According to a study report by Elena Bellodi et. al. published in the BMC Medical Informatics and Decision Making 2017, the implementation of a clinical decision support system (CDSS) can have a positive impact on healthcare costs. Furthermore, the experience of using a clinical decision support system (CDSS) can also result in good practice to be implemented by other healthcare organizations as per the study conducted in Italy.

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 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 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. According to a survey by RightScale, nearly 95% of organizations run cloud-based applications. The hardware of electronic medical record (EMR) systems offered by different vendors is different. Hence, developing a standard CDSS software, which can run on multiple EMR systems, is a major challenge.

Furthermore, local knowledge management of 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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