Global Computerized Physician Order Entry Market To Grow At A CAGR Of 6.07% During The Forecast Period

The global computerized physician order entry market 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.

Computerized physician order entry (CPOE) is the process of entering and sending medical treatment-related data from healthcare professionals to other relevant departments. The data can include details related to medication, radiology decision, and laboratory, that is sent through computer systems and not via traditional ways like phone calls, fax, or paper. One of the key benefits of CPOE apart from improved efficiency is the enhanced reimbursement services. Since some of the orders may require pre-hand approvals from insurance agencies, CPOE systems can be programmed to alert about any orders that require approvals and thus reduce the number of denied or unresolved claims.

As per reports submitted by the Institute of Medicine, there are supported claims that clearly state the occurrence of medicine-related errors almost every day, by hospital staff. Studies have proven that the installation of computerized physician order entry may reduce these errors by more than 80% when used efficiently, ultimately benefiting the patients along with hospital or clinic authorities.

The global computerized physician order entry market is expected to grow owing to the significant rise in the number of medical cases which saw exponential growth because of Covid-19. The rising number of cases has intensified the pressure on the healthcare sector to cater to the needs of the rising number of patients while also maintaining care quality. This in turn has pushed leading medical authorities to encourage the adoption of IT wherever possible since automated systems can take off the pressure to a certain extent. IT giants have been upgrading their technologies to meet the growing demand from the healthcare sector pushing innovation boundaries and providing the best possible services. This can be confirmed because of the multiple strategic mergers and acquisitions witnessed between hospital giants and IT service providers aiding global market growth during the projection period.

CPOE is a leading tool for error-free information transfer however it can perform up to its true potential only when the staff using the tool is sufficiently trained, failure of which may have negative implications like slower data transfer, and the doctor-nurse patient communication taking a toll. There are also several cases of errors reported worldwide even when using computerized physician order entry like trusting automated technology more than human decisions. One example is the increased mortality rate amongst children in the pediatric unit of Pittsburgh's Children's Hospital just after the introduction of the CPOE system. Constant alerts and warning messages may hamper workflow, irritating the medical personnel. However, if the negative traits are carefully handled, the global market is expected to generate high revenues during the forecast period which is also aided by the post-effects of Covid-19 since healthcare facilities have started understanding the importance of digitalized and interconnected systems.

The high Installation and maintenance cost of CPOE systems may hamper global market expansion.

The rising number of medical facilities is anticipated to provide growth opportunities in the global market. The lack of IT professionals in comparison to the global market demands is expected to challenge market growth.

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 & 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 and clinics, and others. Hospitals and clinics managed to gain more than 29% of the global market share in 2019 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.

The global computerized physician order entry market is expected to be dominated by Asia-Pacific during the forecast period majorly due to the rising population and a subsequent number of patients. China and India witnessed a huge number of patient admissions during Covid-19 resulting in the healthcare sector becoming overwhelmed, propelling the governments to upgrade their health infrastructure for the growing population.

North America is expected to generate high revenues owing to the presence of key players in these regions and their strategic decisions to advance their consumer database along with growing demand for digitization in all sectors creating a paperless environment free from human error.

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.

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. 

Browse the full “Global Computerized Physician Order Entry Market By Delivery Mode (On-Premises and Web-based & Cloud-based), By Type (Integrated and Standalone), By End-User (Emergency Healthcare Service Provider, Hospitals & Clinics, and Others), By Component (Software, Hardware, and Services), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/computerized-physician-order-entry-market

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

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