Computerized Physician Order Entry Market Report 2024

This Computerized Physician Order Entry market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The computerized physician order entry market size has grown strongly in recent years. It will grow from $1.9 billion in 2023 to $2.08 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth during the historic period can be attributed to the rising adoption of electronic health records (EHR) systems, government initiatives and incentives for healthcare digitization, a greater emphasis on reducing medication errors and enhancing patient safety, an increasing need for efficient and accurate order management in healthcare facilities, and a high demand for improved healthcare workflow and operational efficiency.

The computerized physician order entry market size is expected to see strong growth in the next few years. It will grow to $2.96 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth anticipated for the forecast period can be attributed to the ongoing expansion of value-based care models and accountable care organizations, increased efforts in personalized medicine and precision healthcare, the growth of interoperability standards and frameworks across health IT systems, a rising focus on patient-centered care and engagement solutions, and continued investment in cybersecurity to protect healthcare data. Key trends during this period include the integration of artificial intelligence, the adoption of cloud-based CPOE solutions, the use of machine learning algorithms, mobile and remote access capabilities for physicians, a heightened emphasis on cybersecurity, and the development of advanced user interfaces and voice recognition technology.

The rising incidences of medication errors are expected to propel the growth of the computerized physician order entry market going forward. Medication errors are mistakes made in prescribing, dispensing, or administering drugs that can lead to patient harm. The numerous incidences of medication errors are due to several factors, such as miscommunication between healthcare providers, incorrect dosage calculations, similar drug names, and inadequate patient information. Computerized physician order entry (CPOE) reduces medication errors by providing automated checks and alerts, ensuring accurate drug prescriptions, and minimizing manual entry mistakes. For instance, in September 2022, according to the World Health Organization, a Switzerland-based intergovernmental organization, medication errors cost one country $2.16 billion, representing 3% of the total national healthcare expenditure. Additionally, 237 million medication errors are reported each year, with 66 million potentially clinically significant. The estimated costs to the government of avoidable adverse reactions to medication are $106.24 million per year. Therefore, the rising incidences of medication errors are driving the growth of the computerized physician order entry market.

Major companies operating in the computerized physician order entry market are adopting a strategic partnership approach to develop wireless and cloud technology for high-volume workloads. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in August 2023, Microsoft Corporation, a US-based technology company, partnered with Epic Systems Corporation, a US-based healthcare software company, to deliver a cloud-based electronic health records (EHR) solution that significantly enhanced the capabilities of computerized physician order entry (CPOE) systems. The integration of Epic's EHR with Microsoft Azure allows healthcare providers to manage large EHR database loads efficiently, facilitating real-time access to patient data and enhancing clinical workflows.

In June 2022, Oracle Systems Corporation, a US-based computer technology company, acquired Cerner Corporation for $28 billion. This acquisition enables Oracle to expand its presence in the healthcare sector by integrating Cerner's electronic health record systems with Oracle's cloud and data management technologies, thereby enhancing healthcare data analytics and improving patient care solutions. Cerner Corporation is a US-based healthcare company that provides health information technology (HIT) services and platforms, including the computerized provider order entry (CPOE) solution.

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.

North America was the largest region in the computerized physician order entry market in 2023. 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.

The countries covered in the computerized physician order entry market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Computerized Physician Order Entry (CPOE) is an electronic system that allows healthcare providers to place orders for medications, tests, and other treatments directly into a digital format. This system improves the accuracy and efficiency of order processing, reduces errors from handwritten orders, and integrates with other health IT systems to enhance clinical decision-making and patient care.

The main types of CPOE systems are standalone and integrated. A standalone CPOE system is a self-contained application used by healthcare providers to electronically enter and manage medical orders without relying on other hospital information systems. These systems consist of hardware, software, and services, and can be deployed via web-based, cloud-based, or on-premise solutions. End users include pharmacies, hospitals, emergency healthcare service providers, office-based physicians, and others.

The computerized physician order entry market research report is one of a series of new reports that provides computerized physician order entry market statistics, including computerized physician order entry industry global market size, regional shares, competitors with a computerized physician order entry market share, detailed computerized physician order entry market segments, market trends and opportunities, and any further data you may need to thrive in the computerized physician order entry industry. This computerized physician order entry market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The computerized physician order entry market consists of revenues earned by entities by providing services such as implementation services, training and education services, maintenance and support services, and consulting services. The market value includes the value of related goods sold by the service provider or included within the service offering. The computerized physician order entry market also includes sales of computers, servers, barcode scanners, and analytics and reporting tools. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.