The clinical decision support system market size is expected to cross $1.5 billion by 2022, growing at a CAGR of 21.5% between 2016-2022. The CDSS market is driven by five major factors, including growing demand for advanced healthcare information systems, growing investments by HIT players, growing need for remote patient monitoring services, and increasing support from government organizations.
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The massive unexplored CDSS across the globe has created abundant opportunities for the major players to exploit the potential of the CDSS market. Although, there has been significant development in the developed economies of European Union (EU) and the U.S., the clinical decision support system market is still at its nascent form, especially in the developing countries of Asia, Latin America, and Africa. A high growth in numbers of end user including hospitals, and pharmacy has been witnessed in the developing countries of these regions, which provides immense growth opportunities for the CDSS market.
The Asia-Pacific market for CDSS is expected to grow at a CAGR of 23.2% between 2016-2022. The clinical decision support system market in Asia-Pacific is growing, due to growing geriatric population and upsurge in the occurrence rate of different chronic diseases. In addition, the improving healthcare infrastructure, and favorable government support, such as investments and grants has fueled the demand of HIT systems including CDSS in the region. China is expected to grow at a CAGR of 27% during the forecast period and reach $114.3 million by 2022, in the Asia-Pacific CDSS market.
Some of the key companies operating in the CDSS market include Cerner Corporation, RELX Group PLC, Epic Systems Corporation, General Electric Company, McKesson Corporation, Zynx Health Incorporated, International Business Machine Corporation, Siemens AG, Allscripts Healthcare Solutions Inc., Meditech and Wolters Kluwer.
Source: P&S Intelligence