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Grown Incidences of Medication Errors boosted the demand of CDSS

High incidences of medical errors fueled demand of global clinical decision support systems

Meticulous Research® – leading global market research company is conducting a research study on Clinical Decision Support Systems Market to understand its growth and opportunity perspective for next 5 years.

High incidences of medical errors fueled demand of global clinical decision support systems

Medication errors are one of the most common causes of death and disability across the globe. According to FDA, 1.3 million people get affected by medication errors annually in the U.S. According to a study of John Hopkins University, in 2016, 10% of all deaths were due to medication errors and medical error was the third largest cause of death in the U.S. Similarly, in 2017, British Medical Journal published that medical errors and health-care related adverse events accounts for 8% to 12% of hospitalizations across the European Union countries. CDSS enable healthcare providers to make the best clinical decisions based on current circumstances, helping in prevention of medication errors and adverse event. Thus, increasing incidences of medical errors will lead the adoption of CDSS solution which in turn is expected to drive the market growth.

Previous Key Findings of Global CDSS Market Study:

Services Segment Dominates the Clinical Decision Support Systems Market

Services segment accounted for the largest market share over software and hardware in 2018, owing to frequent need of services for the installation, operation, and maintenance of clinical decision support systems. However, software segment is expected to register fastest growth in near future.

Integrated CDSS segment Dominates the Global Clinical Decision Support Systems Market, By Product

In 2018, integrated CDSS solutions commanded the largest share as compared to standalone CDSS. This segment is also expected to witness fastest growth as these systems provide clinicians and decision-makers with a robust database to support evidence-based clinical decision-making.

Cloud-based Systems to Register the Fastest CAGR

On the basis of delivery model, CDSS Market is segmented into on-premise and cloud-based CDSS. On-premise CDSS commanded the largest share in 2018. However, cloud-based CDSS is expected to register the highest CAGR during the forecast period owing to greater flexibility, easy scalability, and low capital expenses and operational cost incurred in this model.

North America Dominates the Global Clinical Decision Support Systems Market

North America commanded the largest share in 2018, followed by Europe, Asia-Pacific and Rest of the World (RoW). The largest share of North America is attributed to regulatory mandates for value-based care, rising incidence of medication errors, need to curb increasing healthcare expenditure, and significant presence of health IT players in the region.

Key Players

The major players operating in the Clinical Decision Support Systems Market are Wolters Kluwer Health (U.S.), Hearst Health (U.S.), Elsevier B.V. (The Netherlands), Cerner Corporation (U.S.), McKesson Corporation (U.S.), Epic Systems Corporation (U.S.), MEDITECH (U.S.), Philips Healthcare (The Netherlands), International Business Machines (IBM) (U.S.), and Allscripts Healthcare Solutions, Inc. (U.S.).

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Future Outlook

In last few years, CDSS has become more popular among healthcare organizations and its adoption is increasing exponentially across the globe. In order to cater unmet needs of healthcare professionals and improve healthcare delivery, CDSS vendors are focusing on development of next-gen CDSS. In addition, penetration of artificial intelligence and machine learning are underlined as a key trend in clinical decision support tools and CDSS vendors are working to incorporate it to transform and revolutionize diagnostics in pathology, radiology, and imaging areas.

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