Computerized Physician Order Entry Market Size, Share, Growth Report 2032

Industry Prospective:

The global computerized physician order entry market size is expected to grow at a CAGR of 6.7% by 2028. The global market was valued at over $1 Billion in 2021 and is projected to generate a revenue of over $2.2 Billion during the forecast period. The report analyzes the global computerized physician order entry market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the computerized physician order entry market.

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Computerized Physician Order Entry Market: Overview

Computerized physician order entry while sometimes also being referred to as computerized provider order entry is digitalized order management for medical professions. The process involves medical professionals making electronic entries of medical treatments related to the patient who is being treated by him or her. The e-data is then shared with all the corresponding stakeholders over a shared computer network system. The stakeholders can range from other relevant medical professionals that are treating the same patient, to pharmacists or radiologists. CPOE aids in the reduction of time taken to dispense information and complete the orders. Since most of the tasks are completed electronically, there is less scope for transcriptional error while also enhancing transparency between related parties. Computerized physician order entry prevents duplication of orders subsequently helping in better inventory management and enhancing the billing process. CPOE is a highly acclaimed patient management software.

Some of the key data that a generic computerized physician order entry has are patients identity, detailed explanation of the role of the required staff member, details of the material, medication, and resources that are applied, the exact procedure to be performed, the sequence of the operation that has to be obeyed, feedback, and case-related documents. Since CPOE aids smoother flow in medical processes, the global computerized physician order entry market is witnessing a higher rate of adoption.

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Covid-19 Impact

The global market witnessed a dip in revenue owing to a delay in rolling out new programs because of the temporary closure of manufacturing units. Also, the strategic developments among international organizations were put to halt during the initial phase of the pandemic which had negative effects on the global market and its growth was slightly delayed. However, the global market is expected to see higher growth in the coming years due to Covid-19 since the healthcare industry at large was able to observe the many benefits of CPOE systems, especially in cases where the physical movement of documents becomes restricted just like the situations during Covid-19.

Computerized Physician Order Entry Market: Growth Drivers

Increasing error in documenting medical history to propel global market growth

In current times, medical cases have become extremely complex and no two patients share the same healthcare history. The reasons for such diverse medical situations may be because of evolving genetic conditions, lifestyle choices, eating habits, and stressful living environments to name a few. This complicates the traditional method of medical data-keeping since the several healthcare issues of a given patient are interdependent. Patients have to visit different doctors with specific specializations for every issue which has resulted in an increase in the number of errors pertaining to the documentation of a patient's health-related information. Hence it has become imperative to create a system where all of the medical records can be effectively stored and accessed by all relevant stakeholders thus propelling the global computerized physician order entry market growth.

Since healthcare is the backbone of any economy, governments have been investing heavily to improve the healthcare systems in their respective regions and this has intensified the adoption of IT for various health-related processes which may aid the global market expansion during the forecast period.

Computerized Physician Order Entry Market: Restraints

High installation and maintenance cost of CPOE system to hamper global market expansion

Computerized physician order entry systems require a high initial investment since the data pertaining to the entire healthcare unit is digitalized. The process can also be time-consuming whereas maintenance of CPOE systems may also require regular investments. This increases the overall cost of the medical facility thus creating hesitancy amongst clinics and treatment facilities to adopt such systems. This is also coupled with the cost of training the personnel to efficiently use the systems. Since IT may sometimes become too complicated for non-IT professionals, lack of training may lead to an increased discomfort amongst hospital staff while using CPOE systems thus hampering the global market growth.

Computerized Physician Order Entry Market: Opportunities

Rising number of medical facilities to provide growth opportunities in the global market

Due to the rising number of diseases across the globe, there is a significant growth in the number of hospital and clinic facilities to cater to the rising demand. A rise in patient awareness about the higher quality of treatment has forced the medical facilities to upgrade their services which are expected to provide excellent growth opportunities for global computerized physician order entry market growth because of rising competition between different market players.

Owing to the rise in the quantity of COPE system manufacturers, the global market reach is expected to grow during the forecast years because of rising marketing initiatives taken up by the market players to expand their global footprint. There are constant efforts displayed by manufacturers to provide the consumers with more friendly systems to withdraw the hesitancy of healthcare professionals towards IT adoption.

Computerized Physician Order Entry Market: Challenges

Lack of IT professionals in healthcare to challenge market growth

The number of IT professionals in the healthcare sector is relatively lower than what the global market demands. This has resulted in many medical units either not adopting IT in their systems to the full extent or outsourcing IT services which causes high final costs. The global market may suffer during the projection period because of a lack of skilled professionals who can smoothen the fusion of the healthcare and IT sectors.

Computerized Physician Order Entry Market: Segmentation

The global computerized physician order entry market is segmented based on delivery mode, type, end-user, component, and region

By delivery mode, the global market segments are on-premises, web-based, and cloud-based. The global market is expected to be dominated by web-based delivery modes owing to the rising number of internet service providers and the flexibility offered by web services in comparison to other modes.

By type, the global market is segmented into integrated and standalone, and the global market may generate the highest revenue from the integrated type since it aids the smooth data flow between departments along with other benefits like reduced paperwork, efficient resource & time management, and lesser lag time.

Based on end-user, the segments in the global market are emergency healthcare service providers, hospitals & clinics, and others. Hospitals & clinics managed to gain more than 29% of the global market share in 2021 and may lead in the coming years mainly due to higher patient registration in clinics and hospitals than in other medical services.

By component, the global market is segmented into software, hardware, and services. The growing number of IT outsourcing is expected to aid services to lead the global market by 2028.

Recent Developments:

• In 2019, a merger between Northwell Health and Allscripts aided the creation of an advanced system for electronic health records. The next-generation system is AI-enabled and cloud-based along with voice features. The bold step helped the organizations to increase their consumer database.
• In 2019, the partnership between GE Healthcare and Nasscom, a technology service provider. The partnership was intended to encourage new organizations to revolutionize electronic healthcare solutions in India by providing cost-effective and technologically advanced diagnostics. 

Report Scope:

Computerized Physician Order Entry Market: Regional Analysis

Asia-Pacific to grow with the highest CAGR during the forecast period

Asia-Pacific is showing excellent signs of growth in the global computerized physician order entry market majorly due to rising medical tourism in countries like China and India, propelling the government to take steps that will reduce the overall medical expense while also maintaining the quality of the services. The constant innovation in the IT sector is also expected to aid regional growth since there is a presence of multiple IT service providers and there is a drastic change in the marketing initiatives undertaken by these companies.

North America is projected to generate high revenues mainly due to the advanced healthcare structure in regions like Canada and the USA. The growing economy of these regions allows for them to adopt high-costing services which are propelled by the rising demand from patients for improved healthcare services.

Computerized Physician Order Entry Market: Competitive Analysis

The global computerized physician order entry market is dominated by players like Cerner Corporation, Siemens Healthcare, Allscripts, GE Healthcare, Athenahealth, Inc., Mckesson Corporation, eClinicalWorks LLC, Philips Healthcare, Epic Systems, and Medical Information Technology, Inc.

Global computerized physician order entry market is segmented as:

By Delivery Mode

• On-Premises
• Web-based & Cloud-based

By Type

• Integrated
• Standalone

By End-User

• Emergency Healthcare Service Provider
• Hospitals and Clinics
• Others

By Component

• Software
• Hardware
• Services

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa