Clinical Decision Support Systems Market Size

CDSS Market Analysis

The Clinical Decision Support Systems Market size is estimated at USD 2.46 billion in 2024, and is expected to reach USD 4.05 billion by 2029, growing at a CAGR of 10.44% during the forecast period (2024-2029).

Amid the COVID-19 pandemic, the health systems of countries were majorly dependent on online services. Healthcare professionals were taking up a consultation with the patients through virtual sources. This was mainly due to the strict lockdown regulations imposed by various governments during the initial stages of the pandemic. Moreover, due to the COVID-19 outbreak across the world, clinical decision support systems played a vital role in assisting patient resources and services. For instance, the Journal Plos One article published in March 2021 mentioned that the development of decision support tools for real-time clinical diagnosis of COVID-19 is of prime importance of assist patient triage and allocating resources for patients at risk. Several countries are increasingly providing online services, which is boosting the market. Additionally, various market players launched clinical decision support systems for the management of COVID-19 data and insights. For instance, in May 2022, Epocrates launched an innovative long COVID-19 tool that incorporates late-breaking updates to expand the library of clinical decision support guidelines. Thus the increased adoption and launches of clinical decision support systems boosted the growth of the market during the pandemic.

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 2021, the average per capita health expenditure was about USD 7,382.6 in Germany, USD 7,064.8 in Norway, and USD 6,262.3 in Sweden. Thus, the high healthcare expenditure is also expected to contribute to the growth of the market.

According to the Science direct study published in November 2022, the hybrid optimization learning algorithm had accuracy, sensitivity, and specificity metrics. The results revealed that the proposed model was quite appropriate for social anxiety disorder diagnosis and in line with the findings of other studies. Such efficiency of clinical decision support systems is expected to contribute to the growth of the market.

Additionally, the rising geriatric population is also expected to contribute to the growth of the market. According to the WHO data published in October 2022, the population aged 60 years and over will increase to 1.4 billion in 2030 and is expected to reach 2.1 billion by 2050. The UN report in 2022 mentioned that the share of the population aged 65 years or over is projected to rise from 10% in 2022 to 16% in 2050. The geriatric population who are vulnerable to developing chronic diseases and needs regular health checks and treatments for the prevention of diseases is expected to drive the demand for advanced clinical decision support systems, thereby contributing to the growth of the market.

Moreover, increasing initiatives such as collaborations and partnerships to develop clinical decision support systems are expected to contribute to the growth of the market. For instance, in June 2021, Google cloud entered into a multi-year agreement with the national hospital chain HCA healthcare to create customized healthcare algorithms to improve clinical decision-making.

Thus, the increasing healthcare expenditure and increasing initiatives for the development of clinical decision support systems are expected to contribute to the growth of the market. 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.