February 24, 2016 -- The global clinical decision-support (CDS) software market generated $410.5 million in revenues in 2015 and will grow at a compound annual growth rate of 21.5% between 2016 and 2022, according to a new report from P&S Market Research.
Growth is being driven by higher demand for advanced healthcare information systems and investments by healthcare IT vendors, according to the company. Other factors contributing to market growth include demand for remote patient monitoring services and increasing support from government organizations, P&S Market Research said.
Growth is being inhibited, however, by factors such as privacy and security issues, the software's high capital expenditure and maintenance requirements, and inadequate healthcare infrastructure in developing countries.
On a geographical basis, North America dominated the global CDS software market in 2015. However, the Asia-Pacific market is expected to post the fastest growth rate during the forecast period, climbing at an estimated compound annual growth rate of 23.2%, the company said.