How Has the Computerized Physician Order Entry Market Evolved Historically and What is its Current Size?
The computerized physician order entry market has seen considerable growth due to a variety of factors.
• Over the past few years, the market size for computerized physician order entry has seen substantial growth. Its estimated value of $2.08 $ billion in 2024 is expected to increase to $2.27 $ billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.5%.
This upward growth during the historic period can be linked to various factors such as increased use of electronic health records (EHR), government-backed initiatives and financial incentives promoting digitalization in healthcare, heightened emphasis on minimizing medication errors while enhancing patient safety, an escalating demand for reliable and precise order management in healthcare institutions, and a surging need for enhanced healthcare workflow and operational productivity.
What Does Future Hold for The Computerized Physician Order Entry Market By 2029?
The computerized physician order entry market is expected to maintain its strong growth trajectory in upcoming years.
• The market for computerized physician order entry is set to experience significant expansion in the coming years, with projections estimating a value of $3.23 billion by 2029 at a compound annual growth rate (CAGR) of 9.2%.
This escalating growth throughout the forecast period can be associated with the ongoing proliferation of accountable care organizations and value-based care models, advancements in personalized medicine and precision healthcare, the broadening of interoperability standards within health IT systems, and increased attention to patient-oriented care and engagement solutions. There is also a sustained focus on investing in cybersecurity to protect healthcare data. Key trends projected for this period are the incorporation of artificial intelligence, the emergence of cloud-based CPOE solutions, usage of machine learning algorithms, accessibility for physicians from remote locations, an emphasis on reinforcing cybersecurity provisions, and progression in user interfaces and voice recognition technology.
What Are The Primary Growth Drivers In The Computerized Physician Order Entry Market?
Anticipated growth in the computerized physician order entry (CPOE) market is primarily attributed to the increasing instances of medication blunders. Medication mishaps, which could result in harm to the patient, encompass errors in drug prescription, administration, or dispensing. Several factors contribute to these errors, including healthcare providers' miscommunication, wrong dosage estimations, similar-sounding drug names, and insufficient patient data. These errors can be significantly reduced by CPOE, which facilitates automated checks and alerts, accurate drug prescriptions, and lessens the scope of manual entry errors. For example, the World Health Organization, an intergovernmental organization based in Switzerland, stated in September 2022 that one country's medication errors amounted to a loss of $2.16 billion, or 3% of the total healthcare expenditure of the country. Moreover, 237 million medication errors are reported annually, with 66 million potentially having clinical significance. The government's estimated expense for avoidable adverse reactions to medication is per year $106.24 million. Consequently, the escalating instances of medication errors are contributing to the expansion of the CPOE market.
What Is The Segmentation Of The Global Computerized Physician Order Entry Market?
The computerized physician order entrymarket covered in this report is segmented –
1) By Type: Standalone Computerized Physician Order Entry (CPOE), Integrated Computerized Physician Order Entry (CPOE)
2) By Component: Hardware, Software, Services
3) By Deployment: Web-Based, Cloud-Based, On-Premise
4) By End User: Pharmacies, Hospitals, Emergency Healthcare Service Providers, Office-Based Physicians, Other End Users
Subsegments:
1) By Standalone Computerized Physician Order Entry (CPOE): Single-Function CPOE Systems, Specialty-Specific Standalone CPOE Solutions, Customizable Standalone CPOE Applications
2) By Integrated Computerized Physician Order Entry (CPOE): Fully Integrated EHR (Electronic Health Record) CPOE Systems, CPOE with Decision Support Systems (DSS), Integrated CPOE with Laboratory and Pharmacy Management Systems, Comprehensive Healthcare Management Systems With CPOE Functionality
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How Are Emerging Trends Reshaping The Dynamics Of The Computerized Physician Order Entry Market?
Primary businesses in the computerized physician order entry industry are strategically partnering to advance wireless and cloud technology for handling large workloads. These strategic collaborations involve companies benefiting from each other's expertise and resources for mutual success. For example, in August 2023, US tech company Microsoft Corporation joined forces with Epic Systems Corporation, a US healthcare software firm, to offer a cloud-based electronic health records (EHR) solution. This partnership significantly improved computerized physician order entry (CPOE) systems. By incorporating Epic's EHR with Microsoft Azure, healthcare providers can effectively handle extensive EHR database volumes, enabling real-time access to patient data and enhancing clinical workflows.
Who Are the Key Players In The Computerized Physician Order Entry Market?
Major companies operating in the computerized physician order entry market are:
• UnitedHealth Group
• McKesson Corporation
• Kaiser Permanente
• International Business Machines Corp (IBM)
• Siemens Healthineers
• Philips Healthcare Inc.
• GE HealthCare Technologies Inc.
• Epic Systems Corporation
• Athenahealth Inc.
• eClinicalWorks LLC
• Allscripts Healthcare Solutions Inc.
• NextGen Healthcare
• Medical Information Technology Inc. (Meditech)
• Computer Programs and Systems Inc.
• Greenway Health LLC
• CareCloud Inc.
• Medhost
• Picis Clinical Solutions
• CliniComp International Inc.
• Zynx Health Inc.
What Are The Regional Insights Into The Computerized Physician Order Entry Market?
North America was the largest region in the computerized physician order entry market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the computerized physician order entry market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
