Computerized Physician Order Entry Market Size, Share & Trends Analysis Report By Type (Standalone, Integrated), by Component (Software, Hardware, Services), by Delivery Mode (On-Premises, Web Based, Cloud Based), by End-Use (Hospital, Ambulatory Centers), and Segment Forecasts to 2024

Report Overview

The global computerized physician/provider order entry (CPOE) market was valued at USD 1.1 billion in 2015 and is expected to grow at a CAGR of 6.2% over the forecast period. The growing incidence of medication errors at the ordering or transcribing stage is one of the significant drivers influencing the growth of the CPOE market.

North America CPOE market share, by component, 2013 - 2024 (USD Million)

As per data enumerated by the U.S. Food and Drug Administration (FDA), increasing instances of manual medication errors can be fatal as it is resulting in at least one death and/or severe injury per day. This instance is cumulatively affecting approximately 1.3 million people annually in the U.S. alone. These errors occur in the distribution system including prescribing, repackaging, dispensing, administering, and monitoring. These mishaps are primarily caused due to poor legibility, communication errors, and patient misuse. Implementation of a computerized physician order entry process (CPOE) aids in overcoming the aforementioned issues, hence avoiding fatalities caused by medication errors.

Enhanced government initiatives to develop and deploy technologically advanced healthcare information technologies (IT) globally are attributes a principal driver for the growth in this sector. For instance, during the 58th World Health Assembly, the World Health Organization (WHO) urged member states to follow various strategic actions to promote information technology, including CPOE. A long-term action plan for deployment and the endeavor to reach every community with vulnerable groups are some of the key strategic actions prevalent in this industry.

The centralization of medical systems would result in streamlining processes, rendering several economic benefits. Increasing implementation of lean management principles such as Six Sigma across various routine functionalities resulting in optimal usage of resources is a crucial prevailing trend observed. Hence, the increasing popularity of centralization is anticipated to accelerate the demand for these services.

Type Insights

The CPOE systems are of two types: integrated and standalone. Integrated systems held the commanding share in the type segment and are anticipated to witness lucrative growth over the forecast period.

Integrated CPOE systems are connected to every department in a hospital, which has the added benefit of less documentation and reduction in lag time thereby effective management of time and resources. For instance, the software can be connected to pharmacy verification, dispensing, and nursing documentation, resulting in accurate medication dispensing. In addition, it would help in the maintenance of an optimal inventory system.

Component Insights

The computerized provider order entry (CPOE) application components include hardware, software, and services. Services held a substantial share in 2015 and are expected to grow at a sturdy rate during the forecast period from 2016 to 2024. Increasing outsourcing of several IT operations saves cost, and time, and offers qualified staff, thereby eliminating the possibility of the need for training and development of the professionals. This factor helped the services segment to dominate the CPOE market.

Furthermore, the services segment is followed by hardware components in terms of market share. The high cost associated with infrastructures, such as computer systems and high-speed internet, governed their growth.

Delivery Mode Insights

Delivery modes in which computerized provider order entry application includes on-premises, web-based, and cloud-based delivery. Web-based delivery accounted for a substantial share in 2015. This is attributed to enhanced penetration of internet services and increasing digital literacy worldwide.

On the other hand, cloud-based deployment is anticipated to exhibit a lucrative growth rate over the forecast period. Remote access to data and real-time data tracking is the notable advantages associated with cloud-based systems.

End-Use Insights

The key end-users include hospitals, ambulatory centers, physicians, and emergency healthcare services. Hospitals held a significant share of more than 30.0% in 2015 and are also projected to witness steady remunerative growth over the forecast period. A large number of patients and greater financing capabilities constitute some of the key reasons for the dominion of this segment. The emergency healthcare services end-user segment accounts for the second-largest end-use segment owing to the efficient maintenance of the large order volumes and improved order completeness thereby reducing the overall clinical decision time overruling manual errors.
Regional Insights

The regional segments include North America, Europe, Asia Pacific, Latin America, and MEA. North America dominated the global CPOE market with more than 50.0% share in 2015. Higher per capita health expenditure, supportive initiatives to promote healthcare IT, including CPOE, healthcare IT readiness, and availability of skilled professionals influenced the penetration of this utility in this region.

On the other hand, Asia Pacific is anticipated to grow at a lucrative rate of over 6.8% during the forecast period. This is majorly attributed to improving medical infrastructure coupled with the increasing acceptance of technological advances in the healthcare system. In addition, consistent reforms in investment policies and a large target population base represent some of the key factors influencing the growth opportunity for market players to invest in this region.

Competitive Market Share Insights

Some key vendors in the computerized physician order entry market include Cerner, CliniComp International., Allscripts, Epic Systems, GE Healthcare, McKesson Corporation, MEDITECH (Medical Information Technology, Inc.), Siemens Healthcare, Visual MED, Philips Healthcare, and Athena Health.

New product launches, consistent upgradation in old versions, enhanced strategic collaborations between established and new entrants, and mergers & acquisitions are the key initiatives undertaken by the market players to ensure higher sustainability in the market. For instance, in March 2015, Allscripts collaborated with NantHealth to develop point-of-care prescription solutions. This initiative enabled the company to enrich its portfolio in CPOE systems.

Analyst Perspective

The scope of the study encompasses types, components, delivery modes, and end-use. Attributes are represented in platforms that would provide insights to new entrants, investors, distributors, and manufacturers.

Estimates and forecasts are based on the triangulation of information acquired or analyzed using more than three approaches. The top-down approach is one of the approaches based on the parent and healthcare IT market. More than 100 primary respondents have been contacted and their perspectives have been analyzed using the QFD model.

The regional scope of the report is kept limited to assure the proportion of studies; however, it can be further customized based on specific requirements.

Computerized Physician Order Entry Market Report Scope