Computerized
Physician Order Entry (CPOE) Market study is providing you with the up-to-date, actionable market
information and projections with the latest impact of the Covid 19 outbreak. It
offers all the requisite data to support tactical business decisions and come
up with strategic growth plans. This study also proposes a comprehensive
insight into the development policies and plans in addition to manufacturing
processes and cost structures.
The global
Computerized Physician Order Entry (CPOE) Market is expected to value at USD
1.9 billion by 2024. The computerized physician order entry industry is subject
to witness a substantial growth due to the rising incidences of medication
errors during the delivering and transcribing stage.
In addition,
numerous initiatives and policies undertaken by both private bodies and regional
government to promote streamline care delivery process are expected to boost
market demand for computerized physician order entry (CPOE) systems over the
forecast period. The prime objectives of computerized physician order entry
(CPOE) systems is to incorporate automation for reducing errors and bringing an
overall reduction in clinical decision time.
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Improved
healthcare infrastructure and rise in the number of medical facilities,
especially in the developed economies is predicted to favor market growth as
well. The computerized physician order entry (CPOE) systems offers a viable
platform and support prime objectives such as reducing errors during delivering
and transcribing stage. These factors are anticipated to foster market
expansion of computerized physician order entry (CPOE) in the near future. Globally, the computerized physician order
entry market is predicted to grow at CAGR of 6.2% in the forecast period,
providing numerous opportunities for market players to invest for research and
development in the market.
The recent
technological advancement in the healthcare sector coupled with deployment of
novel technologies such as healthcare information technology (IT) are expected
to bolster market growth over the next seven years. Rise in the number of
promotional activities by international as well as local authorities such as
the World Health Organization (WHO) to offer various strategic actions for
adoption of information technology involving computerized physician order entry
(CPOE) systems, are anticipated to drive industry expansion in the upcoming
years.
The
computerized physician order entry (CPOE) offer centralization of medical
systems in order to streamline various processes to achieve multiple economic
benefits. Growing adoption of lean management principles like six sigma to
perform different periodic functionalities to optimize use of resources is
predicted to boost the market progress as well. Moreover, centralization of
various processes is gaining traction in healthcare sector over the forecast
period. The computerized physician order entry (CPOE) are divided into two
major types such as integrated CPOE and standalone CPOE.
The CPOE
industry is broadly categorized into four major segments based on the
application type such as hospitals, ambulatory centers, physician, and
emergency healthcare services. The hospitals sector is considered as one of the
fastest growing segment in the CPOE market with substantial revenue generation
in the last few years.
Growing
popularity of computerized physician order entry (CPOE) systems in the hospital
segment is attributed to the growing consumer pool and higher financing
capabilities. The emergency healthcare services segment has also witnessed
substantial growth owing to the rising demand for efficient maintenance of the
large order volumes and improved order completeness to minimize errors.
The
computerized physician order entry (CPOE) industry is divided by region as
North America, Europe, Asia-Pacific, Latin America and Africa. North America
has shown major growth in recent years owing to the rise in the implementation
of latest technologies in healthcare sector, increase in the number of research
& development activities in the region, and existence of well-established
medical facilities.
Asia-Pacific
region is predicted to hold major market share in the computerized physician
order entry market with massive growth in forecast period. Countries such as
India, China and Japan are leading the Asia-Pacific market with strong economic
growth, rising awareness among general population, increasing disposable
income, rising healthcare expenditure, and significant investment by leading
industry players considering potential growth opportunities in the region.
The key
players in the computerized physician order entry industry are Cerner Co.,
CliniComp International, Inc., Allscripts Co., Epic Systems, Inc., GE
Healthcare GmbH, McKesson Co., MEDITECH (Medical Information Technology, Inc.),
Siemens Healthcare, Inc., Visual MED, Inc., Philips Healthcare N.V., and Athena
Health, Inc.
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