PUBLISHER: Allied Market Research | PRODUCT CODE: 1566944
PUBLISHER: Allied Market Research | PRODUCT CODE: 1566944
Clinical Decision Support Platform Market
The clinical decision support platform market was valued at $1.2 billion in 2023 and is projected to reach $2.4 billion by 2033, growing at a CAGR of 7.3% from 2024 to 2033.
Clinical decision support platform is a system designed to enhance the delivery of healthcare by refining the decision-making process. The platform compares patient data & health records with the existing database & assessments and provides tailored recommendations. The aim of the platform is to elevate the quality of healthcare delivery through precise diagnoses, optimized treatment plans, reduced errors, and strict adherence to appropriate practices.
Increase in expenditure of healthcare and patient safety across different regions is driving the growth of the clinical decision support platform market. In addition, the clinical decision support platform is witnessing a high demand as it aids in cost savings by facilitating the optimal usage of resources and reducing the cases of unnecessary hospital readmissions. In the digital era, clinical decision support platforms powered by the properties of AI and deep learning are gaining prominence. AI enables the precise assessment and interpretation of loads of data in a short span of time. Moreover, deep learning complements the attributes of AI through predictive analysis, pattern analysis, and image recognition.
However, the installation and maintenance of the platform, along with the assembly of necessary resources & infrastructure is an expensive process that restraints the growth of the clinical decision support platform market. Furthermore, these platforms remain at a high risk of data breach and cyberattacks, which hampers the market development. For instance, Change Healthcare-an American healthcare company-was targeted to a ransomware attack on February 2024, risking the health data of millions of Americans due to unauthorized access.
Segment Review
The clinical decision support platform market is segmented into component, delivery mode, application, end user, and region. On the basis of component, the market is bifurcated into software and services. As per delivery mode, it is divided into on-premises and cloud based. Depending on application, it is classified into drug allergy alerts, clinical guidelines, drug-drug interactions, clinical reminders, and others. By end user, it is categorized into hospitals, clinics, ambulatory care centers, and academic & research institutes. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of component, the software segment dominated the market in 2023.
As per delivery mode, the on-premises segment acquired a high stake in the market in 2023.
Depending on application, the drug-drug interactions segment accounted for a high market share in 2023.
By end user, the hospitals segment was the highest shareholder of the market in 2023.
Region wise, North America was the highest revenue generator in 2023.
Competition Analysis
The major players of the global clinical decision support platform market include Cerner Corporation, EPIC Systems Corporation, IBM, Change Healthcare Corporation, Medical Information Technology Inc, Koninklijke Philips NV, Siemens Healthcare, Allscripts Healthcare Solutions Inc., Wolters Kluwer NV, and McKesson Corporation. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
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