Clinical Decision Support Systems (CDSS) Market in India will be Valued at USD 206.1 Million
Global market intelligence, research, and advisory company BIS Research released its latest report, “Clinical Decision Support Systems (CDSS) Market – Analysis and Forecast, 2017-2025”, projecting that this sector would reach a global market size of USD 10.83 billion by 2025. The rate of medication errors and the harms they cause – both in terms of increasing healthcare costs and preventable fatalities – are expected to drive this growth. The adoption of these systems is, for the 2018-2025 period, projected to be limited to Tier I cities, and hospitals like AIIMS, Apollo Hospitals, and Max Health. The spread of this technology to other markets and geographies in India will be driven by its success in Tier I cities, cost-benefit comparisons, and clinical benefits in reducing re-admission rates and medication errors.
The report provides a multi-dimensional view of the global clinical decision support systems market in terms of market size and growth potential. Drawing upon meticulous research from a variety of primary and secondary sources, the report aims to identify and delve deeply into the key factors driving the market. It also underlines the threats that can inhibit its growth, and the current opportunities that will shape the future growth trajectory of this market. In its analysis of India, it finds that the changing IT technology landscape, improved healthcare access and standards, as well as the increased life expectancy and the increasing incidence of lifestyle/chronic diseases will drive the sector’s growth. The report finds that Indian hospitals are quickly adapting information systems for the automation of their departments, enabling a digitalization of records for both hospitals and patients. It further indicates that the increase in adoption of electronic health records, mHealth, telemedicine, and web-based services has made electronic patient data expand. This has necessitated the implementation of robust clinical decision support systems in Indian hospitals. The report pegs the value of the CDSS market in India at USD 43.8 million, and expects the sector to grow to USD 206.1 million by 2025, by which time the total healthcare IT market of India will reach a USD 2530.3 million valuation.
Commenting on the release of the new report, Mr. Abdul Wahid, Lead Analyst, BIS Research, said, “The clinical decision support systems market is, to a large extent, going to be driven by the urgent need to reduce healthcare costs and the rising number of deaths due to preventable medical errors. While the sector is still at a nascent stage in India, most large hospitals in Tier I cities already have modular information systems, while some have fully integrated systems. In the future, we expect the full integration of systems, more shareable information platforms, and the standardisation that could lead to user-friendliness and greater usability. We also believe that in the near future, these systems will use tablets and other mobile devices to enhance the uptake of advanced tools like telemedicine and virtual meeting systems for knowledge sharing.”
Acknowledged and recognized by leading media houses such as Bloomberg, Wall Street Journal, and Tech Crunch for its exclusive coverage on emerging technologies, BIS Research is one of the fastest growing market intelligence firms. The company has been cited for identifying early technology trends and has proven expertise in providing business intelligence solutions across the technology lifecycle. BIS Research conducts in-depth primary and meticulous secondary research to assist readers in getting a firm grip on the forces and factors shaping their industry, and devise future strategies for sustained growth.
