The most recent study conducted by Report Ocean, titled “Global Clinical Decision Support Systems Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Clinical Decision Support Systems. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Clinical Decision Support Systems Market to reach USD 7.9 billion by 2027.Global Clinical Decision Support Systems Market is valued at approximately USD 4.15 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 9.7 % over the forecast period 2021-2027. Clinical Decision Support Systems are digital programs used to analyze data and provides prompts and reminders to monitor healthcare. It is helpful in the management of data related to the healthcare sector. It works on web-based, cloud-based and on-premises systems etc. The increasing government expenditures towards health IT solutions have led to the adoption of Clinical Decision Support Systems across the forecast period.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
For Instance: according to the Institution of Mechanical Engineers in 2020, adoption of technological solutions in the healthcare sector are increasing rapidly over the past decade. It includes remote monitoring of patient care, advanced GP surgeries, diagnostic technologies for liver, lung, and bowel cancer etc. Rising technological innovations enhance the market growth of clinical decision support systems Also, with the increasing demand for quality care and technical solutions in medical sector, the adoption & demand for Clinical Decision Support Systems is likely to increase the market growth during the forecast period. However, lack of trained Professionals impedes the growth of the market over the forecast period of 2021-2027.
The geographical regions considered for the global Clinical Decision Support Systems market analysis includes Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is considered as the leading region across the world with respect to the huge market share due to surging demand for technological advancement in healthcare sector. Whereas, Asia-Pacific is also estimated to attain a maximum growth rate during 2021-2027. Factors such as increasing R&D activities by government sector, rising penetration of information and technology in medical field would create beneficial growth forecasts for the Clinical Decision Support Systems market across Asia-Pacific region.
Major market players included in this report are:
McKesson Corporation
Cerner Corporation
Siemens Healthineers GmbH
Allscripts Healthcare, LLC
athenahealth, Inc.
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NextGen Healthcare Inc.
Koninklijke Philips N.V. (Royal Philips)
IBM Corporation
Agfa-Gevaert Group
Wolters Kluwer N.V.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.
Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Standalone CDSS
Integrated E.H.R. with CDSS
By Application:
Drug-drug Interactions
Drug Allergy Alerts
Others
By Delivery Mode:
Web-based Systems
Cloud-based Systems
On-premise Systems
By Component:
Hardware
Software
Services
By Region:
North America
U.S.
Canada
Europe
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UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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