According to a recent Fact.MR research study, the computerized physician order entry system market is expected to grow at a compound annual growth rate (CAGR) of 6.6% from 2024 to 2034, reaching a worth of US$ 1.92 billion in 2024.
The demand for computerized physician order entry systems is rising rapidly as healthcare practitioners become more aware of their many benefits. These digital tools are revolutionizing hospital management and patient care by enabling medical staff to electronically enter instructions.
CPOE systems significantly reduce medication errors, improve patient safety, and streamline workflows. They speed up order processing, improve teamwork within the healthcare system, and provide valuable information for quality-improving initiatives. As healthcare becomes more complicated, CPOE systems offer crucial decision support to enable physicians to adhere to best practices and clinical guidelines.
Since patient safety and electronic health data are becoming more and more important to international regulatory bodies, CPOE systems have become essential. Their ability to improve patient outcomes, reduce costs, and raise the bar for healthcare as a whole is driving their broad acceptance.
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Key Insights from the Market Analysis
- The global market for computerized physician order entry (CPOE) systems is anticipated to reach a value of $3.64 billion by 2034.
- Canada’s CPOE market is projected to achieve a valuation of $117 million by 2034.
- Pharmacies are expected to contribute 1% of the market share by 2024 among end users.
- The East Asia CPOE market is forecasted to grow at a 7% CAGR between 2024 and 2034.
- North America is estimated to dominate the market with a valuation of $1.76 billion by 2034.
- The hardware segment, based on components, is predicted to be worth $584.6 million by 2024 in the global CPOE market.
Top Companies Fueling Innovation in the Market for Computerized Physician Order Entry Systems:
Medical Information Technology Inc., eClinicalWorks, Epic Systems Corporation, Carestream Health, Meditech LLC, CareCloud Inc., First Databank Inc., Atheanahealth Inc., and Allscripts Healthcare LLC.
Growing Use of CPOE Apps on Mobile Devices
Doctors can now enter orders from tablets or smartphones because to the growing popularity of mobile CPOE software, which increases efficiency and flexibility. Cloud-based CPOE solutions are also becoming more popular due to their scalability and quicker upgrades.
Interoperability is emphasized by the smooth integration of contemporary systems with other healthcare IT platforms, such as electronic health records and pharmaceutical systems. Usability is further improved by hands-free order entry made possible by voice recognition technology.
Another trend is personalization, when CPOE systems are tailored to the interests and areas of expertise of certain medical professionals. In order to increase adoption rates and lessen physician fatigue, user-friendly interfaces are becoming more and more important.
In light of increased cybersecurity concerns, CPOE suppliers are putting advanced security measures in place to safeguard sensitive patient data. The CPOE market is moving toward safer, more intelligent, and more effective solutions as a result of these developments.
Computerized Physician Order Entry Systems Industry Updates:
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In July 2022, AmerisourceBergen introduced DTxConnect, an all-in-one platform for ordering, dispensing, and fulfillment. This platform streamlines the process of delivering digital medicines and diagnostics prescribed by healthcare providers to patients.
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In December 2021, Baxter International Inc. finalized its acquisition of Hillrom. By combining their expertise in connectivity technologies, digital health solutions, data visualization, treatment development, monitoring, and sensing, Baxter aims to develop a connected system focused on patients and their care teams.
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Analysis by Region:
To encourage healthcare professionals to embrace CPOE and electronic health records (EHRs), the US government has passed laws like the HITECH Act and the Meaningful embrace program. The development and implementation of complex CPOE systems have been made possible by the United States' sophisticated IT infrastructure and booming IT industry. The widespread national trend of digitizing healthcare processes is driving the need for CPOE systems.
Country-wise Analysis
Because of globalization, businesses all across the world are making enormous profits. Computerized physician order input systems are becoming more and more popular in China and the United States due to favorable government policies.
To encourage healthcare professionals to embrace CPOE and electronic health records (EHRs), the US government has passed laws like the HITECH Act and the Meaningful embrace program. The development and implementation of complex CPOE systems have been made possible by the United States' sophisticated IT infrastructure and booming IT industry. The widespread national trend of digitizing healthcare processes is driving the need for CPOE systems.
Category-wise Evaluation
The market is separated into a number of divisions, the most notable of which are end user, component, and distribution mode. In the upcoming years, the hospital segment is anticipated to hold a significant share among end users.
By allowing healthcare providers to access the CPOE system from any internet-connected device, web-based systems enable flexibility and ease of use. These systems often require less initial hardware and infrastructure investment than on-premises options. Cloud-based systems typically have robust data backup and security features, which can be particularly alluring to smaller healthcare firms. Web-based solutions are typically designed with mobility in mind because more individuals are using smartphones and tablets in healthcare settings.
Key Segments of CPOE System Market Research
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By Delivery Mode :
- Web-based CPOE
- On-premise CPOE
- Cloud-based CPOE
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By Component :
- Software
- Hardware
- Services
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By End User :
- Hospitals
- Pharmacies
- Laboratories
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By Region :
- North America
- Latin America
- Eastern Europe
- Western Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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