A recent report by market research company P&S Market Research predicts dramatic growth for the global CDS market, currently worth $410 million, at a CAGR of nearly 22 percent between 2016 and 2022.
This growth is being spurred by increased demand for advanced healthcare information systems, expanded investments in HIT, the growing need for remote patient monitoring services and increasing support from government organizations, according to the report.
While impressive, there could be even more growth in the sector if not for several limiting factors.
“Factors such as privacy and security issues, high capital expenditure and maintenance requirement, and inadequate healthcare infrastructure in developing economies are inhibiting the growth of the global market,” the company said in the report. “The increasing popularity of [CDS] in healthcare facilities is the key trend observed in the global [CDS] market.”