Advanced Clinical Decision Support Platforms Market Expected to Reach $1.2 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Advanced Clinical Decision Support Platforms Market," The advanced clinical decision support platforms market size was valued at $496.4 million in 2021, and is estimated to reach $1,175.0 million by 2031, growing at a CAGR of 9.0% from 2022 to 2031. Advanced clinical decision support platforms offer information that can be used to help health professionals make better decisions. It is a type of system that offers health information technology to doctors, staff, patients, and other individuals with knowledge & person-specific information that is intelligently filtered or provided at the right moment to enhance health & health care. Furthermore, computerized alerts and reminders to care providers & patients, as well as clinical guidelines, condition-specific order sets, targeted patient data reports & summaries, documentation templates, diagnostic assistance, and contextually appropriate reference information, are some of the tools available.

Advanced clinical decision support platforms market trends include increase in the number of chronic diseases such as cancer, diabetes, & others, increase in advanced clinical decision support platforms industry, rise in geriatric population, and surge in adoption of electronic health record systems by hospitals. Rise in the prevalence of chronic diseases is expected to increase the usage of advanced clinical decision support platforms by physicians for diagnostic and therapeutic purposes. For instance, advanced clinical decision support platforms promote diabetes care by facilitating evidence-informed insulin use, improving blood glucose control, and quality indicators in caring for patients with diabetes. Thus, rise in prevalence of diabetes is anticipated to increase the usage of clinical decision support system by hospitals. For instance, according to International Diabetes Federation, in 2021, it was reported that, approximately 537 million adults are living with diabetes across the globe.

In addition, advanced clinical decision support platforms market analysis include rise in the number of product launch and product approvals for advanced clinical decision support platforms is anticipated to drive the growth of market. For instance, in March 2021, Siemens Healthineers, a leading medtech company, introduced a new software solution that can speed up the entire reading workflow for breast imaging. Mammovista is a tool for dashboard-based visualization of key performance indicators (KPIs) in the breast imaging process that serves to optimize workflows. This software interface is used for intricate clinical or therapeutic decision making.

By type, the advanced clinical decision support platforms market share is bifurcated into therapeutic and diagnostic. The therapeutic segment dominated the market in 2021 and is expected to continue this trend during the forecast period owing to rise in the prevalence of chronic diseases and increase in the adoption of advanced clinical decision support platforms for therapeutic purpose.By model, the market is classified into knowledge-based and non-knowledge based. The knowledge-based segment dominated the market in 2021 and is expected to continue this trend during the advanced clinical decision support platforms market forecast period owing to rise in number of product launch for knowledge-based clinical decision support system.

By setting, the market is divided into hospital and ambulatory care. The hospital segment dominated the market in 2021 and is expected to continue this trend during the forecast period owing to rise in expenditure by government to develop healthcare infrastructure and increase in number of hospitals. North America accounted for most of the global advanced clinical decision support platforms market share in 2021 and is anticipated to remain dominant during the forecast period. This is attributed to rise in the number of product launch & product approval, increase in the number of key players who provide advanced clinical decision support systems, and surge in the adoption of clinical decision support systems by health professionals.

The North America market was dominant, in terms of revenue among other regions in 2021, owing to increase in the number of advanced clinical decision support platforms industry that manufacture advanced clinical decision support platform, and technological advancement in the digital healthcare. Asia-Pacific is anticipated to witness lucrative growth during the forecast period owing to rise in expenditure by government organizations to develop the healthcare sector, increase in the prevalence of chronic diseases, and surge in geriatric population.

The COVID-19 pandemic has also created an increased demand for data-driven healthcare solutions. As advanced clinical decision support platform is one the data-driven solutions that can provide the necessary data to make more accurate and timely decisions. Thus, rise in application of advanced clinical decision support platform during pandemic fueled the market growth. Moreover, during pandemic, physicians were tasked with evaluating large amounts of rapidly changing patient data and making critical decisions in a short amount of time. Well-designed clinical decision support systems (CDSSs) deliver pertinent knowledge and individualized patient information to health care providers to enhance medical decisions. Thus, this factor is anticipated to drive the growth of advanced clinical decision support platforms market size during COVID-19 pandemic.

Key Findings of The Study

• By type, the therapeutic segment held the largest market share in 2021.
• By model, the knowledge-based segment held the largest market share in 2021.
• By setting, the hospital segment dominated the market in 2021 and is expected to continue this trend during the forecast period.
• By region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.