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Globally, sepsis accounts for around 20% of all deaths, and is the leading cause of deaths in US hospitals. It’s therefore no surprise that within our High-Acuity Clinical Information Systems (CIS) market revenue projections, the Analytics and AI-based applications segment – which includes early-warning scoring and predictive analysis of sepsis – is projected to have the fastest growth over the next five years, albeit from a low base.
A vibrant community of data analytics and AI-based application vendors has emerged in response to soaring demand for sepsis prediction, early-warning scoring and predictive analytics. Early-warning protocols in hospitals use patient vital signs data to flag patient deterioration. In many hospitals, monitoring this is still a manual process, but prevailing workforce shortages means fewer nurses are available to monitor. This raises the risk of missing signs of patient deterioration, and this has been the catalyst for the development of an array of solutions that address this need, especially in the ICU.
Interest in other use cases, such as alarm management, is also accelerating. At the American Association of Critical Care Nursing (AACN) NTI meeting in Philadelphia in the middle of this year, Signify Research observed how Mindray (with its iAlarm solution), Nihon Kohden and Spacelabs (with SafeNSound) were responding.
This trend is most pronounced in the US, where value-based care (VBC) rewards quality care provision and financially penalises hospitals for extended patient stays or readmissions, for example as a result of sepsis. The US currently accounts for almost 80% of the total c. $100M annual revenues of the Analytics & AI-based applications market (which includes Predictive Analytics, Early-Warning Scoring, Sepsis, Dashboards, and Clinical Decision Support). Although still a relatively modest contributor to a global high-acuity CIS market whose annual revenues currently stand at $1.6B, it is the fastest-growing segment. Signify Research forecasts a 24% CAGR from 2022-2027 for data analytics and AI-based tools sold into high-acuity CIS applications.
As part of its latest High-Acuity Clinical Information Systems report, Signify Research assessed several Analytics and AI-based applications utilised in the high-acuity setting. Examples include:
The growing influence of EHR vendors across high-acuity CIS, where they account for 55% of total revenues, was highlighted in this Insight. However, within the Analytics & AI-based segment, Best-of-Breed (BoB) and specialist analytics vendors such as Philips, GE Healthcare and Bayesian Health still dominate, generating around two-thirds of total revenues. These vendors are more inclined to the clinical aspect of the market, where FDA and CE/MDR regulations are influential (and normally a burden). EHR vendors such as Oracle Health, MEDITECH and InterSystems, meanwhile, tend to focus on solutions that improve operational workflows in the data analytics and AI-based applications space. Epic is an example of an EHR vendor that has been developing a Sepsis Prediction Model in-house, although a recent study published by the Journal of the American Medical Association (JAMA) concluded that the model was currently failing to live up to expectations.
With BoB vendors entrenched (albeit with a regulatory drag on product launch lead times) and with a two-thirds revenue share, what prospects are there for EHR vendors to win a greater proportion of the sepsis prediction, early-warning, and predictive analytics market? Signify Research explores how EHR vendors are responding, or might respond, in this Digital Health SPI.
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About the Report
The above analysis demonstrates a snapshot of some of the key strategic trends assessed by Signify Research in its High-Acuity Clinical Information Systems – World – 2023 market report. This report is the second iteration, building on the previous edition published in 2021. It provides a data-centric and global outlook of the High-Acuity CIS market by product. These include ICU-IS, NICU-IS, Perinatal IT, OR Manager, AIMS, EDIS and Analytics/AI. The report blends primary data collected from in-depth interviews with healthcare professionals and technology vendors, to provide a balanced and objective view of the market.
About the Clinical Care Team
The clinical care team provides market intelligence and detailed insights on the clinical care equipment and IT markets. Our areas of coverage include patient monitoring, diagnostic cardiology, infusion pumps, ventilators, anaesthesia and high-acuity IT. Our reports provide a data-centric and global outlook of each market with granular country-level insights. Our research process blends primary data collected from in-depth interviews with healthcare professionals and technology vendors, to provide a balanced and objective view of the market.
About Signify Research
Signify Research provides healthtech market intelligence powered by data that you can trust. We blend insights collected from in-depth interviews with technology vendors and healthcare professionals with sales data reported to us by leading vendors to provide a complete and balanced view of the market trends. Our coverage areas are Medical Imaging, Clinical Care, Digital Health, Diagnostic and Lifesciences and Healthcare IT.
Clients worldwide rely on direct access to our expert Analysts for their opinions on the latest market trends and developments. Our market analysis reports and subscriptions provide data-driven insights which business leaders use to guide strategic decisions. We also offer custom research services for clients who need information that can’t be obtained from our off-the-shelf research products or who require market intelligence tailored to their specific needs.
More Information
For further information please contact Arun Gill.
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