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Global Computerised Physician Order Entry Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Component, Type, Deployment, End User & Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) - Industry Forecast from 2023 to 2028

Published: March, 2023
ID: 6071
Pages: 175
Formats: report pdf report excel report power bi report ppt

CPOE Market Size (2023 to 2028)

As per our report, the size of the global computerised physician order entry market was worth USD 1.48 billion in 2023. This figure is estimated to be growing at a CAGR of 6.67% and will be USD 2.04 billion by 2028.

The computerised order entry system sends patients’ medication orders and various treatment information or instructions using electronic computer software instead of paperwork. It is an entirely standard procedure and structure of orders. In addition, it updates adverse drug reactions that will provide safety and efficacy. The CPOE systems have offered various services such as ordering, patient history investigation, patient safety, intuitive users, access, and security.

COVID-19 impact on the global CPOE market

The COVID-19 outbreak has caused issues for a wide range of enterprises and sectors globally. Since the supply and manufacturing networks were disrupted by the severe lockdown and quarantine laws, increasing sales was challenging. The result was a slump in the world economy. The healthcare sector was severely hit and was one of the most stressed businesses. This was because of a steady influx of patients and a shortage of resources.

As the pandemic caused chaos in healthcare settings, maintaining proper patient track records and monitoring their conditions became even more critical. The need for fast and efficient data collection and retention became an essential skill required by medical professionals. In addition, the entire healthcare system was shifting towards web-based online development, so the information technology applications in medical settings were much appreciated during the process. Even in the post-pandemic era, the market for CPOE developed because of its advantages discovered during the pandemic. 

MARKET DRIVERS:

The expansion of the global CPOE market is anticipated to be fueled by the growing advances in the IT healthcare sector and government initiatives to create these technologies.

The various governments worldwide take the initiatives, newly innovated quality of healthcare sector, patient services, and rapidly growing information technology infrastructure in healthcare systems are fuelling the growth of the computerised physician order entry system market. Regularly, IT companies invest more in developing the healthcare infrastructure, which is expected to support CPOE market growth. Rising incidences of chronic diseases and the growing prevalence of quality treatment services are escalating the development of the computerised physician order entry market. Due to the requirement for accurate patient records, maintenance records, etc., the market is anticipated to expand. In addition, the management assists in finding the necessary equipment quickly, cutting down on time needed to aid a patient. 

Owing to the rising demand for lower healthcare expenses, improved job productivity, and improved performance of healthcare systems, the global CPOE market is expected to see an acceleration in the growth rate. The market is further being driven to expand by the rising senior population, the increased demand for social insurance administrations, and changes in the provision of human services. As chronic disease cases continue to rise globally, there is an increased demand for effective therapies to support growth. In addition, technological advancements and the shift of public interest towards personalized healthcare services propel CPOE market growth.

MARKET RESTRAINTS:

The shortage of skilled technicians is slightly hampering the market's growth rate. People in rural areas are less aware of these systems, which hinders the demand for the computerised physician order entry system market. 

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022 to 2028

Base Year

2022

Forecast Period

2023 to 2028

Segments Covered

By Component, Type, Deployment, End User, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East, and Africa

 

This research report on the global computerised physician order entry market is segmented and sub-segmented based on the component, type, deployment, end-user, and region.

Computerised Physician Order Entry Market – By Component:

  • Hardware
  • Software  
  • Services    

Based on the component, the services segment is expected to hold the largest share of the global CPOE during the forecast period, owing to the fact that many service industry practitioners are now depending on IT operations to perform their everyday tasks. In addition, the recent advancement in web-based development services, such as online services and remote healthcare, are leading to the segment's dominance during the forecast period.

However, the hardware components segment is also expected to exponentially growth during the forecast period due to the latest innovations and technological developments in the field of CPOE.

Computerised Physician Order Entry Market – By Type:

  • Integrated
  • Stand Alone

Based on the type, integrated systems accounted for the highest market share in 2022. The integrated systems which connect and coordinate all the different departments of a healthcare setting are expected to dominate the market during the forecast period. This is due to the importance of intercommunication between various departments and the need for less paperwork and efficient workforce coordination.

Computerised Physician Order Entry Market – By Deployment:

  • Web-based             
  • On-premises            
  • Cloud-based       

Based on the deployment type, the Web-based held the largest share of the market in 2022. The growth is credited to the intensifying perforation of internet services and growing multimedia education worldwide. Furthermore, due to the rapid development of web-based systems and the popularity of internet dependability, web-based deployment is expected to hold the largest market share during the forecast period.

The cloud-based segment follows web-based accounting for the significant market share, which is foreseen to display a lucrative growth rate during the forecast period. Remote access to data and concurrent data dogging are some of the benefits associated with the cloud. The cloud-based segment is also expected to grow as it is the backbone of the web-based system and helps it function efficiently.

Computerised Physician Order Entry Market – By End User:

  • Hospitals  
  • Office-based physicians     
  • Emergency healthcare service providers   
  • Nurses      

Based on end-user, the hospital segment accounted for a significant share of 30.0% in 2022 and is also outlined to observe fixed remunerative growth over the forecast period. The increase is caused due to a massive number of patients, and high financing effectiveness comprises these factors, making the segment lead the market growth. As a result, the hospital segment is expected to dominate the market during the forecast period. This is due to hospitals' extensive infrastructure, credibility, and patient influx. In addition, hospital settings have a vast spread network and can afford more services than small clinics due to high financial ability.

The emergency healthcare service providers segment occupies second place in the end-user segment. The rise in the number of patients with various health disorders and increasing emergency cases like accidents & cardiovascular problems dramatically influences the market's growth.

Computerised Physician Order Entry Market – By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Regionally, the North American market led the CPOE market worldwide, accounting for the maximum share in 2022, and is anticipated to continue the dominating trend throughout the forecast period. The growth of the attributed to government initiatives in countries like the U.S. and Canada to curb the high healthcare costs and provide better healthcare systems to the populations. Additionally, the advancements in the IT sector of healthcare systems are helping the market development in the region. Therefore, the United States CPOE market is expected to occupy most of the share during the forecast period in North America.

The European market is estimated to grow at a CAGR value of 6.74% over the forecast period. The European is anticipated to show progressive growth in the global market due to the growing economy of countries like the U.K., Italy, Germany, and France. As a result, the increasing CAGR of the region is expected to be around 6.7% during the forecast period.

Globally, the Asia-Pacific market is forecasted to be the fastest-growing regional market. The Asia-Pacific is also expected to show promising growth due to the need to eradicate medical errors, decrease healthcare costs, and keep patient data, which can get very confusing in countries with large populations like China and India. Latin America is also expected to show growth due to the need for patient management. 

The Latin American market is expected to showcase a CAGR of 6.71% between 2023 to 2028. Increasing requirements for lessening patient data and retaining the cost are primarily attributed to market growth in this region.

The Middle East & Africa market is estimated to display sluggish growth during the forecast period. However, creating awareness and raising the utilization of electronic health records in hospitals, especially in developed countries, fuel the market's growth rate to some extent.

KEY MARKET PARTICIPANTS:

Some of the prominent companies leading the Global Computerised Physician Order Entry Market profiled in this report are Medical Information Technology, Inc. (U.S.), Cerner Corporation (U.S.), eClinicalWorks LLC (U.S.), Epic Systems (U.S.), GE Healthcare (U.K.), Allscripts (U.S.), Athenahealth, Inc. (U.S.), Siemens Healthcare (Germany), Philips Healthcare (Netherlands), Mckesson Corporation (U.S.) and Carestream Health (U.S.).

RECENT MARKET DEVELOPMENTS:

  • In 2019, Allscripts, a leading healthcare industry, joined Northhwell health to create a new innovative next-generation electronic health record (EHR). It included cloud-based, voice-enabled, and AI-based electronic health record systems. These companies try to expand their business by adding new technology to help hospitals and clinics.
  • In 2015, Nanthealth collaborated with Allscripts to develop a new precision medical solution for the reliability of physicians. These systems provide all protocol details and data integration solutions for patients with EHR useful to manage accurate patient data and their current medication updates. 

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FAQ's

How much was the global CPOE market worth in 2022?

The global CPOE market size was valued at USD 1.39 billion in 2022.

What is the projected market value of CPOE market in North America by 2027?

The North America CPOE market is anticipated to be worth USD 630 million by 2027.

Which segment by type component accounted for the largest share in the CPOE market in 2022?

In 2022, the services segment registered the major share of the CPOE market worldwide by component. 

Who are some of the notable players in the CPOE market?

Medical Information Technology, Inc. (U.S.), Cerner Corporation (U.S.), eClinicalWorks LLC (U.S.), Epic Systems (U.S.), GE Healthcare (U.K.), Allscripts (U.S.), Athenahealth, Inc. (U.S.), Siemens Healthcare (Germany), Philips Healthcare (Netherlands), Mckesson Corporation (U.S.) and Carestream Health (U.S.) are some of the major players in the CPOE market.

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