Global Computerized Physician Order Entry (CPOE) Market – Analysis and Forecast (2018-2024) - Industry Insights by Type (Standalone and Integrated), by Component (Hardware, Software and Service), by Deployment (Web-based, Cloud-based and On-premise) and by End User (Pharmacies, Hospitals, Emergency Healthcare Service Providers, Office-based Physicians and Others)
Computerized physician order entry (CPOE) is an electronic entry process which helps healthcare practitioners to go through medical orders into computer systems which are within a hospital setting. It helps to reduce errors related to handwriting and time taken for order completion. The global computerized physician order entry market is growing at significant rate due to mounting need for integrated healthcare. Different types of CPOE contributed to the computerized physician order entry market size. The market has witnessed high demand for integrated CPOE in the coming years due to its connectivity through several functionalities such as pharmacy, procurement and nursing.
Insight by Type
On the basis of type, the market is subdivided into standalone CPOE and integrated CPOE. Of both types, integrated CPOE segment accounted the larger share in the market due to its expert connectivity through several functionalities such as pharmacy, procurement and nursing.
Insight by Component
On the basis of component, the market is subdivided into hardware, software and services. Enhanced outsourcings of several services combined with intensifying contribution of the professional skills are some of the factors responsible for the growth of the services. Of all the components, the services accounted foremost share in the computerized physician order entry market.
Insight by Deployment
On the basis of deployment the market is subdivided into web-based, cloud-based and on-premise. Expanding dispersion of internet services and amplified digital knowledge are the factors growing the demand of web-based. Among the all deployment, the web-based accounted the largest share in the computerized physician order entry market. In addition, cloud-based segment is expected to grow at the fastest rate in the market due to remote data access and data security.
Insight by End User
The different end users in the market are pharmacies, hospitals, emergency healthcare service providers, office-based physicians and others. Abundant volume of patients and great inclination of hospitals are the factors growing the demand of computerized physician order entry in hospitals. Among the all end users, the hospitals accounted the largest share in the computerized physician order entry market.
Mounting patient centric approach and escalating popularity of wireless and cloud technologies are the trends in the computerized physician order entry market.
Government initiatives to improve information technology infrastructure, mounting need for integrated healthcare, and high incidence of medication errors are the primary growth drivers for computerized physician order entry market.
In addition, mounting requirement for effective and precise assortment and interchange of extensive amounts of patient records among clinics, hospitals, and laboratories is also driving the growth of the CPOE market. For instance, CPOE is tool to upsurge the competence and efficiency of medical work. The incorporation of CPOE systems into clinical workflow has been recognized as the most vital employment.
Mounting demand for better healthcare facilities, expanding geriatric population, mounting occurrence of chronic and lifestyle associated diseases and boosting investments from healthcare IT players are also facilitating the growth for the computerized physician order entry market.
Lack of skilled professionals, high cost and time consuming installation cost, lack of awareness among physicians and interoperability issues are the major challenges for the growth of computerized physician order entry market.
Globally, the manufacturing companies trying to enter the computerized physician order entry market are required to maintain stringent regulatory standards. This offers an edge to the established players in the industry competition.
Geographically, North America is the largest computerized physician order entry market as in the region the government initiatives for installation of CPOE systems is increasing. Increasing investments for better healthcare facilities, increasing occurrence of chronic and lifestyle associated diseases, elevated adoption of advanced technology and mounting need for integrated healthcare are also up surging growth of the North American computerized physician order entry market.
Asia-Pacific is observed to witness the fastest growth in the market, due to mounting demand for better healthcare. In addition, increasing occurrence of chronic and lifestyle associated diseases, improving healthcare infrastructure, alertness about the benefits of computerized patient data management systems and expanding geriatric population are also creating a positive impact on the computerized physician order entry market growth in the region.
Key players in the computerized physician order entry market are catering the demand of these devices by investing on technologically advanced products in their product portfolio across the globe. In January 2018, Allscripts signed a definitive agreement to acquire Practice Fusion to offer the comprehensive and high performing health information technology and solutions.
In September 2010, RelayHealth, a McKesson’s connectivity business, launched Connected Orders, a workflow solution which links ambulatory-care physicians with hospital, laboratories, imaging centers and patients to computerize the test ordering process. Allscripts Healthcare Solutions, Inc., EPIC Systems, Mckesson Corporation, Athenahealth, Inc., General Electric Company, Siemens AG, Carestream Health, Medical Information Technology, Inc., Cerner Corporation, Royal Philips and eClinicalWorks are the key players offering computerized physician order entry solutions.
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