LONDON, April 18, 2017 /PRNewswire/ -- The clinical decision support systems market is expected to reach USD 1,519.2 million by 2021 from USD 856.3 million in 2016, at a CAGR of 12.2% during the forecast period from 2016 to 2021. The government support and initiatives to drive adoption of HCIT solutions in healthcare, rising incidence of medication errors, rising prominence and usage of Big Data and m-Health tools, growing adoption of cloud computing in healthcare and prevalence of chronic diseases are some of the factors driving the growth of the clinical decision support systems market.
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Clinical decision support systems are gaining popularity across the globe; the use of health information technologies and online resources in healthcare boosts clinical decision making by providing access to a wealth of information presented in a timely manner to make the best possible patient-specific decisions as per circumstances. These systems also reduce commission and omission errors and enhance the quality of care. The benefits offered by clinical decision support systems is driving stakeholders in the healthcare system including key industry players, healthcare providers and governments to take measures to integrate these systems into clinical workflows. However, reluctance amongst traditional healthcare providers to adopt the solutions, requirement of high investments for supporting IT infrastructure, data security concerns related to cloud-based systems and lack of interoperability are some of the factors expected to restrain the growth of this market.
On the other hand, emerging markets for healthcare IT in regions such as Asia-Pacific, Middle East, Latin America and Africa, and technological advancements in HCIT solutions offer growth opportunities for players in the market.
The clinical decision support systems market is expected to be challenged by the lack of skilled IT professionals in the healthcare sector.
Geographically, North America is expected to account for the largest share of the global clinical decision support systems market in 2016, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). The large share of the North American market is attributed to favorable initiatives and regulatory mandates, enterprises by key industry players, and rising incidence of medication errors in U.S.; and rising personalized medicine initiatives and prevalence of chronic diseases in Canada.
In-depth interviews were conducted with CEOs, Sales and Marketing Directors, other innovation and technology directors, and executives from various key organizations operating in the clinical decision support systems market place.
- By Company Type: Tier 1: 50%, Tier 2: 35%, Tier 3: 15%
- By Designation: Director Level: 29%, C-Level: 39%, Others: 32%
- By Region: North America: 32%, Europe: 24%, APAC: 26%, ROW: 18%
The report includes the study of key players offering clinical decision support systems such as Cerner Corporation (U.S.), McKesson Corporation (U.S.), Epic Systems Corporation Inc. (U.S.), Medical Information Technology, Inc. (U.S.), Philips Healthcare (Netherlands), Allscripts Healthcare Solutions, Inc. (U.S.), Wolters Kluwer Health (U.S.), Zynx Health (U.S.), Elsevier B.V. (Netherlands), and International Business Machines (IBM) Corporation (U.S.)
Research Coverage:
The report segments the global clinical decision support systems market on the basis of component, delivery mode, product, type, model, user interactivity, application, and region, with analysis and forecasts to 2021.
Reasons to buy the report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms to garner a greater market share. Firms purchasing the report could use one or a combination of the below-mentioned five strategies for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the solutions offered by top players in the clinical decision support systems market. The report analyzes the clinical decision support systems market, by component, delivery mode, product, type, model, user interactivity, and application
- Product Development/Innovation: Detailed insights on research and development activities and new product launches in the clinical decision support systems market
- Market Development: Comprehensive information about the lucrative emerging markets. The report analyzes the clinical decision support systems market across regions
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the clinical decision support systems market
- Competitive Assessment: In-depth assessment of strategies, products, and distribution networks of the leading players in the clinical decision support systems market
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