New York, NY, March 14, 2018 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Healthcare Decision Support System Market by Offering (Hardware, Software, and Services); by Product Type (Standalone HDSS Solution and Integrated HDSS Solution); by Model (Knowledge-Based Model and Non-Knowledge Based Model); by Deployment Type (On-Premise, Cloud-Based, and Web-Based); for Applications (Drug-Drug Interactions, Drug Allergy Alerts, Clinical Guidelines, Clinical Reminders, Drug Dosing Support, and Others): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 – 2024”.
According to the report, the global healthcare decision support system market was valued at around USD 870 million in the year 2016 and it is expected to reach approximately USD 2,220 million by 2024. The global healthcare decision support system market is expected to exhibit a CAGR of more than 12% between 2017 and 2024.
Browse through 33 Tables & 63 Figures spread over 110 Pages and in-depth TOC on “Global Healthcare Decision Support System Market Size 2016: Industry Share, Trends and Forecast 2016 – 2022”.
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Market Report Highlights
- Increasing investments in research & development activities are expected to enhance the automation in the healthcare sector. More precise and accurate results can be expected with the help of the healthcare decision support system.
- Emerging economies such as China, Brazil, and India are expected to experience a significant market growth owing to the increasing adoption of electronic health records (EHR).
- By offering, services segment contributed a major share in the healthcare decision support system market. Increasing government initiatives for services such as consulting, training, and education in the healthcare domain will propel the growth of this segment during the forecast period.
- Based on products, integrated HDSS solution holds the dominant share in the global healthcare decision support system market. Factors such as high accuracy and a large number of applications augment the growth of this segment during the forecasted period.
- Majority of the market share was contributed by knowledge-based model. The capability of the knowledge-based model to translate scientific data into computer-interpretable decision algorithms will boost this segment during the forecast period.
- Web-based solutions dominate the healthcare decision support system market by deployment type throughout the forecast period.
- North America holds the dominant position in the global healthcare decision support system market with around 39% share in 2017. Europe holds the second largest market share in the global market.
- China and India are some of the leading countries that contribute the major share in the healthcare decision support system market in Asia Pacific region.
- Slow economic growth and low awareness of technological advancements in the Middle East & Africa is expected to limit the growth of the market in this region.
According to the analysts and insights shared by industry experts, one of the limitations of the healthcare decision support system is the low adoption rate of the systems. This is not only due to the challenges pertaining to the implementation of the system but also owing to the fact that the healthcare providers consider it as a professional threat.
The factors that are driving the growth of the healthcare decision support system market are the increasing requirement for reduction of the medical errors and growing need to improve the clinical outcomes and quality of care. There has been a rise in the aging population and the number of people that are affected by chronic diseases which have positively contributed to the growth of the healthcare decision support system market. The rise in the government initiatives has also augmented the growth of the market.
Browse the full ” Healthcare Decision Support System Market by Offering (Hardware, Software, and Services); by Product Type (Standalone HDSS Solution and Integrated HDSS Solution); by Model (Knowledge-Based Model and Non-Knowledge Based Model); by Deployment Type (On-Premise, Cloud-Based, and Web-Based); for Applications (Drug-Drug Interactions, Drug Allergy Alerts, Clinical Guidelines, Clinical Reminders, Drug Dosing Support, and Others): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 – 2024“ report at https://www.zionmarketresearch.com/report/healthcare-decision-support-system-market
Healthcare decision support system can be termed as an application that helps the healthcare providers to access the information of the patients’ in order to take proper clinical decisions. The healthcare decision support system is widely used in the healthcare sector by the physicians, nurses, or any healthcare provider for accessing the data to provide quality treatment.
Healthcare decision support systems include a wide range of tools that help in the decision-making in the workflow of clinical systems. Some of the tools include focused patient data reports & summaries, computerized reminders, and alerts to care, patients and providers, diagnostic support, clinical guidelines, drug dosing support, and drug allergy support, among others.
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The healthcare decision support system market comprises the offerings segment in which the services accounted for the largest share in the market. In 2017, the services segment held more than 50% of the market share. However, it is anticipated that the software segment will witness the highest CAGR growth during the forecasted period owing to the need for the periodic software up gradation.
By deployment type, the web-based solutions registered the highest market share of more than 38% in 2017. The ease of availability and accessibility are the main factors that contributed to the growth of the segment. On the other hand, it is expected that in the coming year’s cloud-based solution will have an increasing demand in the global market.
The knowledge-based model accounted for more than 50% of the market share in 2017. The segment anticipates growing at a CAGR of more than 12% in the forecast period. The factor that contributes to the growth of the segment is the capability of the knowledge-based model to translate the scientific data into computer-interpretable decision algorithms.
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The market is growing at a rapid pace in the developing regions. Though North America dominates the healthcare decision support system market the Asia Pacific region is anticipated to have an influential share over the market. Increase in the research & development activities in order to enhance the healthcare applications to obtain more accurate and precise outcome is fuelling the growth of the healthcare decision support system market in Asia Pacific region. Increasing incidences of chronic disorders and augmentation in geriatric population will also increase the burden on the healthcare systems which will, in turn, positively affect the growth of the healthcare decision support system market during the forecast period.
The major market players in the healthcare decision support system market are 3M Health Information Systems, Agfa-Gevaert Group, Allscripts Healthcare Solutions, Inc., Carestream Health, Cerner Corporation, Epic Systems Corporation, GE Healthcare, Haitai Medical Information Systems Co., Ltd., Healthcare Management Systems, IBM Corporation, McKesson Corporation, Philips Healthcare, QSI Management, LLC, Quintiles IMS, Siemens Healthcare GmbH., Surgical Information Systems, Wolters Kluwer Health, and Zynx Health Incorporated, among others.
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Global Healthcare Decision Support System Market: Offering Segment
- Training and Education Services
- Consulting Services
- Ongoing IT Support and Implementation Services
- Post-Sale and Maintenance Services
Global Healthcare Decision Support System Market: Product Type Segment
- Standalone HDSS Solution
- Integrated HDSS Solution
- HDSS and Computerized Physician Order Entry (CPOE)
- HDSS and Electronic Health Records (EHR)
- HDSS, CPOE, and EHR
Global Healthcare Decision Support System Market: Model Segment Analysis
- Knowledge-Based Model
- Non-Knowledge Based Model
Global Healthcare Decision Support System Market: Deployment Type Segment Analysis
Global Healthcare Decision Support System Market: Applications Segment Analysis
- Drug-Drug Interactions
- Drug Allergy Alerts
- Clinical Guidelines
- Clinical Reminders
- Drug Dosing Support
Global Healthcare Decision Support System Market: Regional Segment Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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