Computerized Physician Order Entry Market is Expected to Witness Rapid Growth 2014 - 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.

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.

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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.