Medical Decision Support Systems Market by Product Type and Geography - Forecast and Analysis 2022-2026

The medical decision support systems market share is expected to reach an estimated USD 765.77 million by 2026 at an accelerating CAGR of 9.18%.

This clinical decision support systems market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. The medical decision support systems market report also offers information on several market vendors, including Agfa Gevaert NV, Allscripts Healthcare Solutions Inc., Cedar Gate Technologies, Cerner Corp., Change Healthcare Inc., Cohesic Inc., Epic Systems Corp., Fortive Corp., Hearst Communications Inc., Hera MI SAS, International Business Machines Corp., Koninklijke Philips NV, McKesson Corp., Medical Information Technology Inc., Nuance Communications Inc., OSP Labs, Premier Inc., RELX Plc, Siemens AG, and Wolters Kluwer NV among others.

This report extensively covers medical decision support systems market segmentation by the following:

• Product Type - Knowledge-based and Non-knowledge-based
• Geography - North America, Europe, Asia, and Rest of World (ROW)

What will the Medical Decision Support Systems Market Size be During the Forecast Period?

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Medical Decision Support Systems Market: Key Drivers, Trends, and Challenges

The rising prevalence of fatal diseases is notably driving the medical decision support systems market growth, although factors such as high costs associated with MDSS may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the medical decision support systems industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Medical Decision Support Systems Market Driver

One of the key factors driving growth in the medical decision support systems market is the rising prevalence of fatal diseases. The growth of the aging population is leading to a rise in the prevalence of chronic diseases in the region. The rising prevalence of such diseases is increasing the demand for healthcare technologies for diagnosis and treatment. It is also increasing the need for the management of medical information to enable the optimal use of data. The increasing number of patients suffering from chronic diseases and lifestyle disorders has led to the large-scale adoption of medical decision support systems (MDSS) for monitoring, diagnosis, and management of diseases, which will fuel the growth of the market. Therefore, due to such factors, the market in focus is expected to witness steady growth.

Key Medical Decision Support Systems Market Trend

The product launch is a medical decision support systems market trend that is expected to have a positive impact in the coming years. Vendors are launching MDSS with advanced features to support the decision-making process in the healthcare industry. In 2021, First Databank, Inc. launched a medical decision support systems analytics solution during the 2021 Healthcare Information and Management Systems Society (HIMSS) Global Conference & Exhibition held in Las Vegas. The solutions allow healthcare organizations to identify, monitor, and customize clinical decision support (CDS) easily in their electronic health records (EHRs), which will help in improving the user experience of clinicians, thus enhancing patient outcomes. In April 2022, Change Healthcare launched InterQual 2022, the latest edition of the clinical decision support solution for the delivery of the latest, evidence-based appropriate healthcare. The new release includes updated criteria for emerging trends, restructured and interactive criteria to streamline workflows, and artificial intelligence (AI) to drive proactive insights and efficiency. Thus, rising launches of new and updated products will drive market growth during the forecast period.

Key Medical Decision Support Systems Market Challenge

The high costs associated with MDSS will be a major challenge for the medical decision support systems market during the forecast period. The cost of installing a medical decision support system is increasing over the period. The annual cost per practice for registry-based MDSS was about $9,500 for a small practice, $20,600 for a medium practice, and $76,000 for a large practice. The total financial cost related to the installation of MDSS is $185,927. The day-to-day use and maintenance costs of an MDSS, including that incurred on staff requirements and other resources, are categorized under operating costs. Resources are needed to then implement the system across the entire practice and for all healthcare providers. The installation of data collection centers and maintenance also requires heavy investment, which adds to the cost of a medical decision support system in the long run. Such factors will hinder the adoption of MDSS during the forecast period.

This clinical decision support systems market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global medical decision support systems market as a part of the healthcare technology segment, which, in turn, is a part of the global healthcare market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Who are the Major Medical Decision Support Systems Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Agfa Gevaert NV
• Allscripts Healthcare Solutions Inc.
• Cedar Gate Technologies
• Cerner Corp.
• Change Healthcare Inc.
• Cohesic Inc.
• Epic Systems Corp.
• Fortive Corp.
• Hearst Communications Inc.
• Hera MI SAS
• International Business Machines Corp.
• Koninklijke Philips NV
• McKesson Corp.
• Medical Information Technology Inc.
• Nuance Communications Inc.
• OSP Labs
• Premier Inc.
• RELX Plc
• Siemens AG
• Wolters Kluwer NV

 

This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying growth strategies such as focusing on technological innovations, and partnerships to compete in the market.

Product Insights and News

• allscripts.com - The company offers medical decision support system with machine learning and artificial intelligence.

• allscripts.com - Under the core clinical and financial solutions segment, the company offers EHR-related software, financial and practice management software, related installation, support and maintenance, outsourcing, private cloud hosting, and revenue cycle management.

To make the most of the opportunities and recover from post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Medical Decision Support Systems Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the clinical decision support systems market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Medical Decision Support Systems Market?

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43% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for medical decision support systems in North America. Market growth in this region will be faster than the growth of the market in the European and ROW regions.

The presence of integrated healthcare infrastructure (hospitals, clinics, and pharmacies) and major vendors operating in the market, and a high level of adoption of modern medical technology (especially in the US) will facilitate market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 has increased the adoption of MDSS in the region. The development of decision support tools for the real-time clinical diagnosis of COVID-19 in patients has become of utmost importance to help triage patients and allocate resources for at-risk patients. Furthermore, finding treatment based on the patient's past medical history has been an important aspect of treating COVID-19 patients. 

What are the Revenue-generating Product Type Segments in the Medical Decision Support Systems Market?

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The clinical decision support systems market share growth by the knowledge-based segment will be significant during the forecast period. It consists of a knowledge base, an inference engine, and a mechanism to communicate. The inference engine uses the rules from the knowledge base and combines them with the patient data. The communication mechanism allows the system to show the results to the user. The rising prevalence of chronic diseases has driven the demand for carrying out periodic diagnosis tests; such factors will increase the adoption of knowledge-based MDSS during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on post COVID-19 impact on each segment.

 

Medical Decision Support Systems Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 9.18%
Market growth 2022-2026	USD 765.77 million
Market structure	Fragmented
YoY growth (%)	8.48
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 43%
Key consumer countries	US, Canada, Germany, UK, and China
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Agfa Gevaert NV, Allscripts Healthcare Solutions Inc., Cedar Gate Technologies, Cerner Corp., Change Healthcare Inc., Cohesic Inc., Epic Systems Corp., Fortive Corp., Hearst Communications Inc., Hera MI SAS, International Business Machines Corp., Koninklijke Philips NV, McKesson Corp., Medical Information Technology Inc., Nuance Communications Inc., OSP Labs, Premier Inc., RELX Plc, Siemens AG, and Wolters Kluwer NV
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Medical Decision Support Systems Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive medical decision support systems market growth during the next five years
• Precise estimation of the medical decision support systems market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the medical decision support systems industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of medical decision support systems market vendors

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