Wilmington, Delaware, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Clinical Decision Support Platform Market by Component (Software and Services), Delivery Mode (On-Premises and Cloud Based), Application (Drug Allergy Alerts, Clinical Guidelines, Drug-Drug Interactions, Clinical Reminders and Others), and End User (Hospitals, Clinics, Ambulatory Care Centers and Academic and Research Institutes): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the clinical decision support platform market was valued at $1.2 billion in 2023, and is estimated to reach $2.4 billion by 2033, growing at a CAGR of 7.3% from 2024 to 2033.
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Prime determinants of growth
Increasing prevalence of chronic diseases and focus on personalized medicine are the major factors that drive the growth of the clinical decision support platform market. However, high cost of implication hinders market growth. Moreover, rise in adoption of telemedicine offers remunerative opportunities for the expansion of the global clinical decision support platform market.
Report coverage & details
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $1.2 billion |
| Market Size in 2033 | $2.4 billion |
| CAGR | 7.3% |
| No. of Pages in Report | 216 |
| Segments Covered | Component, Delivery mode, Application, End user and Region. |
| Drivers |
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| Opportunities |
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| Restraints |
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Segment Highlights
Software component is widely used in clinical decision support
The software component of the clinical decision support platform is widely used to enhance decision-making processes in healthcare. It integrates patient data, evidence-based guidelines, and clinical knowledge to provide real-time support to clinicians, improving diagnostic accuracy, treatment planning, and patient outcomes. Its use spans across various medical settings, including hospitals, clinics, and research institutions.
Application of on premise clinical decision support platform
On-premise clinical decision support platforms are preferred for their enhanced data security and control. Healthcare organizations value the ability to manage sensitive patient information within their own infrastructure, ensuring compliance with strict regulatory standards and reducing the risk of data breaches associated with cloud-based solutions.
Drug-drug interaction application of clinical decision support platform's
The clinical decision support platform's drug-drug interaction application helps healthcare providers identify and manage potential adverse interactions between prescribed medications. By analyzing patient medication profiles and referencing comprehensive drug databases, it alerts clinicians to possible contraindications, thus enhancing patient safety, reducing medication errors, and optimizing therapeutic outcomes. This tool is crucial in complex treatment regimens involving multiple medications.
Hospitals are the important end users of clinical decision support platform's
Hospitals are the major end users of clinical decision support platforms, leveraging these systems to improve patient care and operational efficiency. These platforms assist healthcare professionals in making informed clinical decisions, reducing errors, and enhancing treatment outcomes. With extensive patient data and complex care requirements, hospitals benefit significantly from real-time insights and evidence-based recommendations provided by these platforms.
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Regional Outlook
The clinical decision support platform market is experiencing significant growth across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America dominates due to advanced healthcare infrastructure and high adoption rates, while Asia Pacific shows rapid growth driven by increasing healthcare investments and technological advancements.
Key Players
- Cerner Corporation
- Epic Systems Corporation
- IBM
- Change Healthcare
- Medical Information Technology Inc
- Koninklijke Philips NV
- Siemens Healthcare
- Allscripts Healthcare Solutions Inc.
- Wolters Kluwer NV
- Mckesson Corporation
The report provides a detailed analysis of these key players in the global clinical decision support platform market. These players have adopted different strategies such as, product launch, expansion, partnership, collaboration and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Developments in Clinical Decision Support Platform Market Worldwide
- In February 2024, Elsevier Health, a global leader in medical information and data analytics, launched ClinicalKey AI, the first and most advanced clinical decision support tool to be introduced in the US that combines the latest and most trusted medical content with generative artificial intelligence (AI) to help clinicians at the point of care.
- In February 2023, The province of Nova Scotia, in collaboration with Nova Scotia Health Authority (NSHA) and IWK Health (IWK), announced, a new 10-year agreement has been signed with Oracle Cerner to implement an integrated electronic care record across the province for the more than one million Nova Scotians.
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